The final project requires you to develop a comprehensive business plan. This plan should be a working document on how to establish or acquire and operate a business venture.
Required Elements to include in the Business Plan:
- Cover all basic matters, including a description of the business and products/services to be offered, identification of target markets, and analysis of competition. The project will consist of a completed business plan for your real or imaginary business venture. Although there are different types of enterprises, there are commonalities among all. These should be reflected in the following sections:
For Assignment 3 Part One of the Business Plan complete the following items. These items will be included in Assignment 3 Part Two of the complete Business Plan.
Ø introductory letter
Ø executive summary
Ø statement of objectives
Ø technical description of product/service
Ø marketing strategy
Ø market data
Ø selling tactics
- Grading will be based on content, comprehensiveness, organization, packaging, grammar, mechanics, and timely submission.
- You may consult with fellow students, use outside sources, or discuss portions of the project in detail with instructor
- The final paper, however, must be your original work.
Required Formatting of Paper:
- Must be typewritten and neatly packaged in a form presentable to a financial institution or investor.
- As some businesses are more complex, no specified number of pages is required. The key is to ensure that all critical portions of the plan are covered in sufficient detail to portray in-depth thought and effort. Some areas may not apply to all businesses.
- Financial statements are important, and you are expected to provide pro forma balance sheets, income statements, break-even analyses, and cash flow projections.
- You should decide early in the course what type of business the plan will involve, as high-quality plans cannot be developed in a short time.
- You should get an early start to perform the research and to prepare a paper that covers all aspects of a business plan.
- Your business plans must be submitted on the date indicated in the course schedule to be eligible for full credit. Plans received after the due date will only be eligible for full credit if the reason for lateness is based on an emergency or otherwise approved by instructor before the due date.