Company Name- Business Plan
Executive Summary
• Write a one to three (1–2) page executive summary highlighting key aspects of each section of the business plan. Do not exceed 2 pages.
• Check out Chapter 4-The Executive Summary and use one of the two examples provided as a guide (pages 62-66).
• Use subheadings for each section of the executive summary, just as in the examples provided in the textbook.
• Once the Executive summary is done, start the Business Plan on a new page with the headings “Business Plan” and then include Assignments 1, 2, 3, and written financials from week 8 discussion.
Business Plan
Company Description and SWOT Matrix
Company Name
• Describe the specific product or service your company will focus on.
• Provide a brief introduction of the company name.
• Explain the significance of the name of your company
Mission Statement
• Write the mission statement (use quotation marks).
• Use the Statement of Mission template on pages 72–73 of the course textbook, Successful Business Plan, to aid your development. The mission statement should include” who you are (as a company), what you do (focus on what you sell), and why you are in business (your purpose).
• Explain the components of the mission statement and the reasoning for their selection. In this section you will clarify why the information included in the mission statement is important and should be included there.
Trends in the industry
• Research, outline and describe the trends in the industry you are operating in (based on the type of company you selected). Try to be specific for your chosen category or product or service.
• Consider the size and growth rate for the industry overall and for the specific product or service you are focusing on.
Strategic position
• Choose one strategic position from the text (page 146-147) and discuss why you believe this would be the best position for your chosen company.
• Explain the approach you will use at your company to implement this strategic position to stand out from similar products and competition.
Distribution
• Describe the company’s distribution channels. For example, will you sell your beverage in grocery stores, restaurants, or sports venues. Are you attempting to sell online or as a subscription?
• Provide the rationale for your chosen distribution method.
SWOT Analysis
• Insert the SWOT table/matrix (at least 4 bullets in each category).
• Summarize the key learnings from your matrix (the takeaways from this analysis). For example, you can explain your greatest strengths and how these can be used to pursue the opportunities you identified or to mitigate some of the threats. You can also discuss your plans to minimize some of the weaknesses, etc. Be specific and avoid generic information.
Marketing Plan and Sales Strategy
Target Market
• Describe your target market (customers) in demographic terms (age range, income range, gender education, etc.) as well as the geographic, lifestyle, psychographic, purchasing patterns and buying sensitivities description.
Market Competition
• Outline your key competitors (at least 3) using the factors listed on page 125 in your textbook, in the “Assess the competition” table. Specify the company and product you are competing with.
• Explain how would you differentiate yourself (your product or service) from the competitors you outlined.
Value Proposition
• Outline the company’s value proposition (be specific to the product or service you plan to sell). The value proposition should be a brief description of how your product or service solves a problem the customers may have (or provides an improvement), should list the benefits the customers can expect, and why customers should buy your product or service instead of other similar ones on the market. You should also consider providing some evidence of your claims. The value proposition tells your customers why should they buy from you.
• Create a marketing slogan/ tagline for your product. You must determine the message you will want to convey through your marketing vehicles.
Marketing Vehicles
Note: Include the table you completed in week 4 discussion and the discuss in detail.
• Outline which marketing tools would you use to build your brand. These are the different methods you will use to promote your product (social media, website, billboard, sampling, trade fairs, etc.) Be specific when discussing these. For example, specify what social media channels you plan to use or what local Radio or TV stations are you targeting to run your ads. Note that you will use a combination or tactics to reach your target market. The selection of the marketing vehicles will be based on the target market you chose. For a list of online marketing tactics, refer to the worksheet in the text (p. 177 | Online Marketing Tactics).
• Explain why would you use each of these and why you believe they would be effective.
Operations Plan
• Remember to assign a dollar amount to each operational cost you find, as you will need these figures for financials document.
• Follow the guidelines provided, as applicable (company of choice or snack-food)
• Check out Chapter 11- Operations
• You have addressed operations in week 5 discussion.
Facilities
• Discuss if you will rent or buy the facility in which you will operate.
• Include the cost of your utilities (You will need to input these costs under the income statement on the Business Plan Financials Excel document where you will need to input these costs)
Production Process/ Description of Operations (if service company)
• Describe how your business will function to make the product or deliver the service
• Outline what equipment is needed to run your business (machine, refrigerators, etc.) including the cost of such equipment. Clarify if you rent or purchase this equipment.
• Discuss how you will ensure quality control.
• Discuss the capacity you intend to reach (note that you must reach sales over 1 million by the end of the second year).
• Discuss your approach to inventory, where the supplies are coming from, the turnaround time to produce a product or deliver a service once the customer placed the order.
Research and Development
• Discuss how you will stay abreast of any new development in the industry
• Discuss any new products or services you have in development
• Discuss who will be in charge of the R&D activity at your company.
Personnel Needs in Operations
• Clarify how many employees you have in operations and the key roles.
Technology Plan
• Remember to assign a dollar amount for each cost, as applicable.
• Follow the guidelines provided, as applicable (company of choice or snack-food)
• Check out Chapter 12- Technology Plan
• Consider the type of technology your selected company will use to conduct activities such as managing personnel; taking, fulfilling, and tracking orders, managing inventory, communicating with customers and providing customer service, producing your product or providing your service.
Software needs
• List and briefly describe the software you think you will need and and approximate cost. Examples: graphic software , customer relationship management, accounting, inventory, office, etc.
Hardware Needs
• List and briefly describe the hardware you think you will need and the approximate cost. Examples: computers, monitors, servers, routers, tablets, etc.
Telecommunication Needs
• List and briefly describe the telecommunication equipment, etc. you think you will need and the approximate cost. Examples: phone, internet, fax, etc.
Personnel Needs
• Discuss who will handle the technology needs at your company in terms of personnel. Are you going to have an in-house person, team, or these activities will be outsourced?
Management and Organization Plan
• Remember to include the salary costs associated with the management personnel you plan to hire.
• Follow the guidelines provided, as applicable (company of choice or snack-food)
• Check out Chapter 13- Management and Organization
• You will create a management and organizational plan for your selected company, expanding on the topics below.
Key Management Employees
• List key management employees and include a brief description of the relevant responsibilities, experience and skills for each person. Include the salary.
Advisors
• List any people you plan to use as advisors for the business, with a brief description of their areas of expertise and how you expect them to contribute to the business.
Management Hierarchy
• Using the flow charts on p. 248 as a guide, outline your company’s management hierarchy.
• You must include a chart or diagram in this section!!
Social Responsibility Plan
• Check out Chapter 14- Social Responsibility and Sustainability
• You have addressed this topic in week 6 discussion. Be sure to check the feedback provided by the instructor as a reply to your week 6 discussion post in week 6 discussion thread. Check the suggestions made by other students as well.
• Create a social responsibility plan for your selected company, expanding on each of the topics below:
Impact on Stakeholders
• Describe the ways in which your company will impact stakeholders such as:
employees, customers, suppliers, and the community.
• Consider the benefits you plan to offer to your employees( healthcare, flexible hours, opportunities for development), support to your community (sponsored events, classes, charities, etc.), suppliers and customers (how do you plan to interact with them, consider your core values; offer quality products, etc.)
Environmental Impact
• Discuss how your company’s activities will affect the environment. Think of all aspects of your operations.
• Identify the steps you will take to mitigate any negative impacts and discuss how you will minimize any negative impact in your operations. Consider energy usage, waste disposal, recycling, use of recycled materials, etc.
Financials
You will extract this information from week 8 discussion
1.Projected Sales
• List your sources of revenue (specify your product lines/ service options you plan to offer) and provide the average sales per year for each product line/ service option.
2.Personnel Overview
• Clarify how many employees you currently have and plan to have in the future.
• Mention the key skills and experience (very brief) of your management team. This will help your investors understand you have a competent and experienced team to grow the business.
3.Funds to Date and Funds you plan to raise
• Provide a list of the funds you already have (loans, money in the bank, etc.)
• Provide a list of the funds you are planning to raise from the investors. Remember, we are writing the business plan with this purpose.
4.Use of Funds
• Provide a list of expenses you plan to make (major expenses) with the funds you plan to raise from the investors. They would want to know what you plan to do with the money.
5.Break-Even Analysis
• The break-even number will clarify how much you need to sell just to cover your expenses.
• Provide just the average monthly break-even number for years 1 and 2.
Projected Profits
• The projected profits will indicate when the company will become profitable and how much these profits are expected to be.
• Specify the estimated yearly profit estimates for the first and second year.
Sources• Be sure to cite all your sources.
• Use APA to format all the references.
• Wikipedia and other similar websites (blogs, opinions) do not quality as academic resources.
• You can use websites as long as the source is reliable (company websites, forbes.com, fda.com, census.com, etc.)
• For each reference you must have a corresponding in-text citation.
Below are examples of references (please delete and replace with yours).
- U.S. Environmental Protection Agency. 2016. Causes of Climate Change. https://19january2017snapshot.epa.gov/climate-change-science/causes-climate- change_.html
- National Aeronautics and Space Administration. 2008. Graphic: The Relentless Rise of Carbon Dioxide. https://climate.nasa.gov/climate_resources/24/graphic-the- relentless-rise-of-carbon-dioxide/
- Ellie Zolfagharifard. 2014. Tree Roots Act as ‘Earth’s Thermostat’: Mountain Forest
Growth Has Stabilized the Earth’s Climate for Millions of Years. http://www.dailymail.co.uk/sciencetech/article-2552933/Tree-roots-act-Earths-
thermostat-Mountain-forest-growth-stabilised-Earths-climate-millions-years.html
- Ronnie Cummins. 2013. How Factory Farming Contributes to Global Warming. https://www.ecowatch.com/how-factory-farming-contributes-to-global-warming-
1881690535.html