Comm320-Section5-BusinessPlan - THEBUSINESSPLAN CoursePack...

Info iconThis preview shows pages 1–8. Sign up to view the full content.

View Full Document Right Arrow Icon
THE BUSINESS PLAN Course Pack – Section 5
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
e Business Plan The Business Plan The Business Plan is an essential tool in the planning and operating of a usiness; it serves as road map of where the business is going Consider these fundamental questions: business; it serves as a road map of where the business is going ; Where is the business now? Where is it going? Is the opportunity worth pursuing? How will it get there? Can I (We) do it? Remember, for our project, the business plan will describe an expansion / diversification concept for a three year period starting now (in real time). 2
Background image of page 2
3
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Scope: The Readers Consider three perspectives: 1. The Entrepreneur: Remember vision and strategy? The Entrepreneur should be able to clearly articulate what the business is about, in our class you (the team) should be able to clearly describe the concept; 2. The Customer: The marketing perspective, why would b thi dt / i? someone buy this product / service? 3. The Investor: There should be realistic financial projections d well built financial statements 4 and well built financial statements.
Background image of page 4
eneral Outline General Outline A business plan outline (Winning Over Investors) can be generally stated in the following context: efine a oncept: e expansion / diversification idea 1. Define a Concept: the expansion / diversification idea briefly stated to orient the reader to the plan. 2. Illustrate an Opportunity : the external analysis that articulates an interesting opportunity. 3. Explain how that opportunity will be Exploited : the marketing approach / plan. 4. Describe Capacity : the operations plan that details the internal “abilities” to meet this opportunity. 5. Explain the Numbers : the financial plan / statements then “translates” all this information into financial projections / formation information. 5
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
dustry / Market Information Industry / Market Information The external analysis describes the general understanding of the industry, the niches and the success factors (e.g. Buying behaviour of the targeted niche – quality, price, convenience); It starts with broad based information and further covers industry trends, demographics, competition, level of turation barriers to entry consumer loyalty itch cycle and saturation, barriers to entry, consumer loyalty, itch cycle and consumer expectations, market potential, etc. The marketing plan is the built on any unique selling point proposition (U.S.P.) or competitive advantage the business opportunity has – why will consumers buy from the business? 6 Review the “inverted pyramid” concept, p. 243.
Background image of page 6
perations Plan Operations Plan The internal operational capacities are built on the “team” of people that ill make it happen and also describes the processes systems etc will make it happen, and also describes the processes, systems, etc.
Background image of page 7

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 8
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 11/09/2011 for the course BUSS 320 taught by Professor Inna during the Spring '11 term at University of Arkansas – Fort Smith.

Page1 / 40

Comm320-Section5-BusinessPlan - THEBUSINESSPLAN CoursePack...

This preview shows document pages 1 - 8. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online