NUTS AND BOLTS OF GREAT BUSINESS PLANS-2016.pdf

Section vi design and development plan needed if you

Info icon This preview shows pages 17–19. Sign up to view the full content.

View Full Document Right Arrow Icon
SECTION VI: DESIGN AND DEVELOPMENT PLAN (Needed if you have a technology development or complex product design aspect to your business) This is a very important section for those teams developing a non-existent product, doing research and development, having technical obstacles to overcome, or seeking patent or copyright protection. However, if you are in a business where research and development is not a major issue (e.g., retailing or many consumer services), then you can leave this section out and just address and technologies you plan to employ in the OPERATIONS section. The nature and extent of any design and development work on your product or service, and the time and money required before the product/service is ready for the market, need to be described in this section. (Note that design and development costs are often underestimated). Design and development might be the engineering work necessary to convert a laboratory concept into a workable prototype or a finished product; the writing of software that is critical for your product/service, the testing of the product (e.g., with animals or people), the work of an industrial designer to make a product more attractive and saleable; the design of special tools or equipment used in the business; or the design of a unique logistics or routing system that is central to service delivery. This section also addresses patents, copyrights, or other intellectual property that you have developed. A. Development Status and Tasks: Define the present state of development of the product or service and explain what remains to be done to make the product fully useable and ready for sale. Provide a list of tasks. Indicate how much time & money will be required to fully develop, test, and introduce the product/service. If appropriate provide a drawing, or a summary of the functional specifications and photographs of the product, if available (without giving away any proprietary information) . Describe briefly the competence or expertise that the venture has or will require to complete development. List any customers or end users who are participating in the development, design, and/or testing of the product or service. Indicate results to date or when results are expected. B. Technical Difficulties and Risks: Identify any major anticipated design and development challenges and approaches to resolving them. Discuss the possible effect on the cost of design and development, and on the time to market introduction, of such problems. C. Product Improvement and New Products :
Image of page 17

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

View Full Document Right Arrow Icon
IMAGINE > BELIEVE > CREATE 17 In addition to describing the development of the initial products, discuss any ongoing design and development work that is planned to keep product(s) or service(s) competitive and to develop new related product(s) or service(s) that can be sold to the same group of customers. Discuss customers who have participated in these efforts and their reactions, and include any evidence that you may have.
Image of page 18
Image of page 19
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern