Prepare a comprehensive business strategy for your new venture. Identify a business idea and explain how you

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Question:

Prepare a comprehensive business strategy for your new venture. Identify a business idea and explain how you plan to analyse the viability of the company idea as well as how you plan to develop it. You can include your data and other documents in the appendix, but make a summary in the body of your proposal. You are encouraged to offer your arguments and exhibit your understanding of the concepts and ideas of entrepreneurship using the theories presented. The company venture must be viable and realistic right now.

The following facts must be included in a successful business plan:

1)Executive Summary—provides a quick rundown of the plan's main points and strengths. This, along with the Mission Statement, Motto, and Logo, persuades the reader to continue reading.

2)Company Description—includes the company's basic information. Provides an overview of the company, including its location, legal structure, and organisational structure.

3)Industry Analysis—includes a review of the larger industry in which the company will operate. Analyzes the industry's major trends and participants. Demonstrates knowledge of and sensitivity to external business situations.

4)Target Market—gives a quick review of the target market's nature and accessibility.

5)Competitive Analysis—includes a thorough examination of the company's competitors. Demonstrates a thorough awareness of the company's respective advantages and disadvantages.

6)Marketing Plan and Sales Strategy—this section explains how the company's product or service will be promoted and sold. The marketing and sales technique includes both strategic and tactical elements.

7)Operations—gives a summary of how the company will function on a daily basis. Production procedures, physical facility evaluation, technology utilisation, and methods followed to ensure delivery of products or services are all covered.

8)Management and Organization—describes the major players in the new company. Identifies the human resources that the company can use as part of the management team, employee pool, consultants, directors, or advisers, as well as the roles that each will play in the company's growth. Discusses pay and incentives, as well as the decision-making process.

9)Long-Term Planning—provides a clear picture of where the company will be in three, five, or more years. Demonstrates an open and honest assessment of the company's chances of success and failure. Prioritizes future company actions by identifying priority.

10)Financials—defines the accounting procedure to be followed by the company. Discusses any assumptions that were made in order to forecast future financial results. Presents projections in a straightforward and cautious manner.

In addition, many company plans include copies of crucial supporting papers in an appendix (for example, certifications, licences, tax requirements, codes, and so on). Letters of intent or advance contracts, product technical details and/or pictures, endorsements, and so on are all instances of these documents.

The title page, table of contents, divider pages, and appendices must all be within thirty (15) pages of the business plan. The page limit does not include the front and back covers.