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then you should include all the detail you can. If you are describing a manufacturing business for
bankers or investors, or anybody else trying to value your business, make sure you provide a complete
list and all necessary details about capital equipment, land, and building facilities. This kind of
information can make a major difference to the value of your business. On the other hand, if your
business plan is for internal use in a small company with a single ofﬁce, then this topic might be
irrelevant. Thinking Strategically About Your Company
One of the most valuable beneﬁts of developing a business plan is thinking in depth about your
company. You started that as part of Chapter 3: Initial Assessment, as you entered drafts of your
objectives, mission statement, and keys to success. A standard plan also includes sections in the
strategy chapter that provide deep background for strategy. This is a good point for developing those
texts. Value Proposition
Value-based marketing is a useful conceptual framework. The value proposition is beneﬁt offered less
price charged, in relative terms. For example, the auto manufacturer, Volvo, has for years offered a
value proposition based on the value of safety, at a price premium. A more detailed discussion of this
framework can be found in Chapter 18: Strategy Is Focus. Competitive Edge
So what is your competitive edge? How is your company different from all others? In what way
does it stand out? Is there a sustainable value there, something that you can maintain and develop
over time? The classic competitive edges are based on proprietary technology protected by patents.
Sometimes market share and brand acceptance are just as important, and know-how doesn’t have to
be protected by patent to be a competitive edge. CHAPTER 6: DESCRIBE YOUR COMPANY 6.3 For example, Apple Computer for years used its proprietary operating system as a competitive edge,
while Microsoft used its market share and market dominance to overcome Apple’s earlier advant...
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This note was uploaded on 01/26/2014 for the course BUINESS 102 taught by Professor Unknown during the Winter '09 term at University of Phoenix.
- Winter '09