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business description

business description - e-Business Plan Business Description...

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e-Business Plan: Business Description Writing your e-business plan begins now! Previous lessons in this tutorial have provided background information and emphasized preparation to write the e-business plan. The business description section of your e-business plan represents the first substantial section you have to write. This lesson gives you an overview of the business description section with links to additional lessons that assist you in writing your mission statement, goals, and objectives. The lesson outline is: What is the Business Description? Business Concept --Industry analysis --Mission statement --Business goals --Project objectives --Value proposition Products and Services What is the Business Description? The business description describes the nature and purpose of the business and includes the firm's mission statement, goals, value proposition, and description of products and services. The business description delivers this content in a straightforward and informative manner, but with an upbeat and inspiration tone. The purpose of the business description is to objectively explain and justify your business idea in a positive and enthusiastic manner. The business description includes two sections with both required and optional content. The business concept section includes an industry analysis, the mission statement, business goals, value proposition, and, optionally, the objectives and business model. The products and services section is a concise description of what the business will sell or deliver to the customer. Business Concept The business concept section gives the reader the big picture about what the business will do and how it will succeed. Industry analysis : A good way to open this section is with a brief industry analysis. An industry is a group of businesses that manufacture, distribute, or sell similar projects or services. An industry analysis defines the industry in which the business will operate (e.g., retail, information distribution, financial services) and uses reliable and objective data to show the future prospects of the industry and, by implication, the business. Sources of information for the industry analysis include research companies such as Dun & Bradstreet , Standard & Poor's Investor Services , and the Risk Management Association who
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publish business directories and industry surveys. Trade and industry journals publish articles that include quantitative data, trend analysis, and influential environmental factors that are affecting their respective industry sectors. These resources will be available in most university libraries. In the United States the FedStats Web site provides access to statistical data from over 100 Federal agencies including (of interest to business plan writers) the International Trade Administration (e.g., U.S. Industry and Trade Outlook ), the Small Business Administration , Bureau of Economic Analysis , Bureau of the Census (e.g., Statistical Abstract of the United States ), and the Bureau of Labor Statistics .
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