Business plan
Learning Outcome Assessment III/BA - Fall Semester 2018 Outline for Business Enterprise (BEP) The following items are required for your Business Enterprise Plan Draft and Final Reports. NOTE: Your group’s BEP must not be the same as the businesses developed in other courses such as “Entreprenurialship”. It must be a NEW business concept developed in collaboration with yourASSE III group. The Draft Report will be 5-10 pages and due on Monday, October 22, 2018. The Draft should cover Items 1-5 of the outline (Table of Contents, Company Summary, Products and Services, Market Readiness, Leadership & Management and Operations). The Final Report will require more detailed information on the items that you provided in the Draft; and it will cover all items 1-10 in the outline. The Final Report should be 15-20 pages in length. It is due during the week of December 10 - 12, 2018. The Final Report includes the Cover Page, Table of Contents and Executive Summary. On both the Draft and Final APA formatting is required. The documents should have single space typing (no more than 1 ½ inches); do not enlarge the font. Your Draft and Final Reports should include the Group Member Evaluations as explained in the Guidelines Handout. Include NO CITATIONS or ‘RHETORIC’ in your documents – do not PLAGIARIZE. Speak from your own words; and carefully EDIT your report. Grading of the Final will take into account proper editing, non-use of rhetoric and or plagiarized material in the document. The Final Report must be spiral bound and submitted in HARD COPY and via Blackboard Safe Assign. You must FOLLOW THIS OUTLINE EXACTLY for the Final BEP. i. Cover Page and Table of Contents ii. EXECUTIVE SUMMARY (This is for the Final BEP only. It must be on a separate page and a full page in length). 1. COMPANY SUMMARY a. Describe the type of Business (private/commercial or public/social enterprise) b. Discuss if your business is a Partnership or a Traditional Hierarchy? Describe what that specifically means for your business (regarding key decisions, shared responsibility, etc.). c. Describe your Vision and Mission (Vision is the desired state that you want to achieve; Mission is what your business does, and who is does it for.) d. Key Business Objectives/Goals: Are the specific strategies your company will take to accomplish its mission. List 3 only. 2. PRODUCTS and SERVICES (Use Bullet Points when describing your Products or Services) a. Describe in detail what products your business will provide to the market; or describe the services your business will offer to the market. List ALL items or services you are offering. If you are providing both products and services, distinguish between these both in this BEP. b. Provide detailed information about how much you will charge for all of your products or services, or packages. c. How often will customers purchase products or services from your business – Daily, weekly, monthly)? 3. MARKET READINESS a. Who is your target customer and why is this a target customer for your business? b. What need does your company fill or what problem does it solve? c. Describe the status of the market in which your business will operate as it relates to your business. Provide a market analysis including a discussion of the indications that tell you the market is ready for your business; and how the market will respond to your business. d. Provide a NARRATIVE of the SWOT analysis of your business (which is its preparedness to be a successful business). (Do Not use Bullet points). e. Describe what makes your business unique. 4. LEADERSHIP and MANAGEMENT a. Discuss who will lead, generate and guide the vision for your company (Who will inspire others to follow the vision and provide the general direction for your company)? Discuss how their background and skills-set qualifies the person or persons to lead your business? b. Describe the business structure and the basic departments of this business? c. Who are the key managers in your business – what key departments will they manage and what are their key responsibilities within these departments. d. What is the dominate leadership and management style that guides this company? Please describe this Two (2) with examples (Use the leadership styles on Blackboard) e. Using one or a combination of the cultures below, describe in detail the culture your leadership and management will generate? Give two (2) very specific examples of how this culture is demonstrated in your business organization. Refer only to the cultures mentioned below. Go to the link below for a full description of these cultures. https://www.ocai-online.com/blog/2016/09/Organizational-culture-Create-Collaborate-Control-Compete i. Competitive (Market-driven) ii. Control (Hierarchy or Authoritarian) iii. Creative (Adhocracy) iv. Collaborative (Clan) 5. OPERATIONS PLAN. This describes specifically how your business is going to be run. This includes the flow of activities such as: Supply, manufacturing, wholesale, retail, and consumer. Your operations plan is directly tied to your company objectives and how those objectives will be monetized. Your Operations Plan must cover a 6-Month time period. a. Part One – Products and Services i. Restate (clarify) your key business objectives (these should relate to operations). ii. Discuss the volume of customers you expect over a 6 month period. iii. State your business pricing strategy (specify what you will charge for each products and/or service - restate this from the Products/Services section). iv. State how much product or services your business plans to sell to customers over a 6 month period based on this pricing strategy. b. Part Two – Supply Chain - How the Business is Managed and Delivery Systems i. Describe if your business is “brick and mortar” or virtual (online) or both and why are you choosing this form to do business? ii. Describe the key departments that will be involved in the supply chain. These are the departments that are directly connected to the “supply chain”. (These departments are different from the key departments in the Leadership section). If there will be an online component describe how this will function. iii. Production and Procurement – How are goods and services obtained or developed (manufactured? (Will your business produce its own products or provide its own services or will a broker, contractor, wholesaler or other outside source be involved?) iv. Who are your business partners (these are businesses you are working in collaboration with, if any) v. Describe the delivery process of your products or services to customers – how will your product or service reach the customer? vi. What quality controls are in place for your product or service? vii. What are the business hours of operation? viii. What are other key staff and positions (non-management), if any? ix. Describe 3 key operations policies that will guide your business. (See BB) 6. FINANCIAL PLAN – Provide a 6 month plan which features ONLY these items below: a. Capital: How much money does your enterprise need for its start up? If your business is a private commercial operation, how much will be invested – by whom? If it is a public company, (not- for- profit or social enterprise) how will money be raised? Your capital should be twice the amount as the actual operations costs. (Capital funds help to start your business before it starts to make profit. When your business begins to make profit capital funds are placed in reserve and revenue covers the costs to run your business.) b. Operations Costs/Expenses: How much will it cost to launch and operate your business for a 6-month time period? Make a list of the TOTAL expenses, such as salaries, production costs, equipment costs, contracted professional services, office location, supplies and materials, marketing, etc. This should be a comprehensive list. Express this in a Table with accompanying narrative. c. Revenue. Provide a detailed account of what your business will earn from sales. i. How many customers will you service during the 6 months?(Same as in operations) ii. What is the cost of products or services per customer? iii. How much will your enterprise earn over a 6-month period? (Same as Operations - Multiply the costs of the product/services by the customers served). This is your Gross Profit or Gross Revenue. Express this in a Table with accompanying narrative. iv. What is your business profit? (Subtract the total expenses from the Gross Profit/Revenue) – This is your Net Profit for 6 months. d. Allocation of Net Revenue: How will your revenue be allocated? Specifically explain these amounts. Choose one or more from the items below. i. Company debts. ii. Ongoing Operations (reserves) iii. Innovations or expansion into new products or services. iv. Charity v. Salary increases/Bonuses – (Don’t be greedy) vi. Investments 7. MARKETING STRATEGIES a. Describe your specific target audience, and why you are targeting this particular audience. b. Discuss how you will have the best access to this target audience. (Where do you typically find this target audience?). c. Describe in detail at least 3 of your business marketing strategies that you will use and discuss why. d. Describe how your business marketing strategies will help your business keep a sustained and loyal customer/client base. e. Describe your marketing timetable. (Exact time when your marketing strategies will be applied). Express this as a monthly chart or table. 8. LEGAL and TECHNICAL ASPECTS of the BUSINESS a. Describe 2-3 of the local and national laws that will impact and apply to your business. Describe how your business will abide by and adopt specific laws that are relevant to your business. For example: Equal Employment or Equal Opportunity Law; or Sharia Law (aspects of Sharia Law). b. Discuss how your business will deal with the following legal items if these are relevant: Intellectual Property; Trademarking; Franchising; and any other legal aspects. c. Describe 2-3 technologies that your business will utilize that are essential to running your business; discuss in what areas? Be very specific to discuss how key technologies will be utilized. 9. ETHICS AND SOCIAL RESPONSIBILITY (these are two different things) a. What is a key value that guides your business? State this. b. Now give 3 business ethics that your business will adhere to express this value. And provide specific examples of how these ethics will be reflected in the everyday activities of your business operations. Speak directly from what is being applied in your organization. c. Describe at least 3 ways that your business will be socially responsible for the external community and/or environment? Be