Business Planning Seminar capstone course
Business Plan: Pick a topic
You will describe your product or service concept to your instructor for approval or recommendations. (Very short).
Business Plan: The Problem & Answer
You will describe your Business Plan topic in your team charter, and your instructor will review and approve your topic or provide additional suggestions. This presentation gives ideas on how to select a good topic. Also bear in mind that you will be working with an initial budget of $300,000. You may request an increase in that investment amount of up to $600,000 from your instructor. The initial investment is intended to cover expenses until your business sales can do so. Teams use these monies to pay for start-up expenses and to cover expenses such as rent, utilities and payroll for the first few months. The initial investment is not intended to fund a contingency account because investors want to see a plan that does not require a large contingency account. This financial requirement will help you scale your business topic to the appropriate size for this course.
Business Plan: Industry Analysis
Detailed research will help you build a strong case for your business. Take advantage of the DeVry Online library. Use its search engine to find reliable business and academic resources. For example, the ProQuest search engine will give you access to over 3,000 periodicals and also includes profiles on over 60,000 companies; with the IBIS World search engine you have access to company, industry, and sector analysis. You can also find excellent information from industry-specific and general business periodicals. For business industries that are dominated by nonpublic companies, you may have to rely on more generic data at the industry level, supplementing that information with data gleaned from business articles where the reporter has conducted research.
Business Plan: The Marketing Plan
In the marketing plan, you will focus on the four Ps (product, price, place, and promotion). Be sure you understand the strategic direction of the firm as you are developing these four Ps. Remember that primary research is required for the Marketing Plan. Use the rubric for the Written Plan to organize your information and to ensure that you have met the course requirements for this section of your business plan. Just as you asked when you finished the environmental analysis, when you completed your marketing research, and when you wrote the marketing plan, you have to ask, "Is this idea still viable?" At first look, it may have been a great idea, but as you develop an understanding of the market, your idea may not be feasible. Are your prices competitive? Does your target market make sense?
Business Plan: The Operations Plan
What is the organizational chart going to look like? What technologies will you use? What are the backgrounds of your teammates and their roles in your fictitious Business Plan? Be sure you understand the goals of the group before you develop the Operations Plan.
Business Plan: The Financial Plan
In the financial area, you will focus on funding, sales, expenses, and required financial statements. Review the tutorial from the lecture and the tutorial from the Financial Software page. Remember that your proposed Financial Plan should match the characteristics of your Industry Analysis. SPECIAL NOTE: You will not turn in the financial worksheet created with the financial tool; rather, you will use that output to create charts, tables, and graphs to tell your financial story. Use the rubric to determine which portions of the financial worksheet should be incorporated into your Financial Plan. Just as you asked when you finished the other sections, you have to ask, "Is this idea still viable?" After you have finished evaluating the costs and forecast the revenues, do they look good? Do the numbers make sense? Do you need to raise the prices in the marketing section? Do you need to change your target market? Do you need to adjust your products? Do you need to adjust the operating expenses? All these questions should be asked, because if the numbers don't add up, an investor will not be interested in your idea, and you shouldn't be interested in your idea either.
Business Plan: Executive Summary
Create the Executive Summary for your plan. The Executive Summary summarizes the main elements of your business concept and is the overview that should attract the attention of potential investors. Create the PowerPoint. You will give a PowerPoint presentation in Week 8. The presentation will be a team effort, so work with your group to practice and prepare for your Week 8 presentation. Your entire group must be present and must also present to earn points for this team deliverable.
The Finish
Edit your Business Plan. Editing means consolidating all parts of the plan, organizing them into a decent order, and ensuring the Appendix is complete and at the end of the plan. Have a nice title page, a list of all team member names on the front, a catchy slogan, and perhaps even a really cool graphic to go with it (i.e. logo).
Caveat: Do NOT download one of those "for purchase" or "for free" plan templates. They are not organized in the manner this course requires and often, they are very difficult to read and grade. They are NOT reader friendly!!
The topic choosen for the solution of the assignment on The Marketing Plan
The marketing prowess of Smart Indulgence Bakery: “Every customer is important and our motto is delight each one of them”Academic requirements:
• Your work must be submitted as pages 15 -17 of pages
• All work must be referenced using the Harvard /APA method.
• Provide a reference list