Business Plan Guidelines Part A General This is a Team Work. It has 50% weighting. Select the four members you want to work with and form a team. The business plan has 4 sections: 1. Relevance of Business Idea 2.Product/Service 3.Marketing Strategies 4.Finacial Projections. Each member must pick up a section on which he /she will work. Follow up on your groups progress and support each other. You must work on the template given on the Black Board. Do not change or modify any part of the template. Type your assignment on the template and upload the same in WORD Format and not in PDF Format on Blackboard. You must follow the guidelines closely and make sure that the requirements are covered appropriately. The Course Work world limit is 2000 words. Use black color for the text. Use Arial font and size 11 Leave 1.5 space between lines. Start a new paragraph wherever indicated. You must use Academic Writing Style Passive voice & Indirect speech-(Do not use I, My, Ours or We). You must justify the text. Leave single space between paragraphs. Leave 1-inch margin on all sides and number the pages. Make sure the Name of Group Members, Student Numbers, Contribution in Business Plan related details are all filled appropriately. For writing each section of the Business Plan, guiding questions are provided. By answering these questions, you build up your writing. These questions indicate the information you are required to provide. You can further improve the sections by adding more information. Provide in-text references wherever information is taken from other sources. Full reference list can be in Appendices. Use Harvard Style as given on the university portal. Part B Specific 1. Relevance of Business Idea Describe your Business Idea. The Concept, Type, Ownership, Organisation Structure. Department of Professional Development & Humanities Entrepreneurship Creativity & Innovation M2H124701 ECI-Business Plan Guidelines Feb. 2022 Semester B Page 2 of 5 Justify how the Business Idea is relevant and successful in Oman. (Use the information from SWOT PEST & Analysis) What opportunities do you have for starting this business in Oman? (Use the information from SWOT PEST & Analysis) Why do you think that your Business Idea is realistic in the Oman market at this point of time? Is there a Market demand? Where and approximately how much will be the demand? (Use the information from Market Survey, Market Analysis). (Start a new para)What are the risks involved in the business? How will you overcome these risks?( Use the information from PEST & SWOT Analysis) What legal procedures you need to follow; approvals / licenses / permits / registrations you need to get and from whom?(Provide in-text reference) How would your business as an SME contribute to the strengthening of the national economy? Refer to: Text Book p 51, 52, 68,204,255,266,253,259,265 Steve Mariotti p139, 171,177, 182,188 Session PPTs 1 to 7 Organisation Structure, Market Survey, Market Analysis; PEST & SWOT Analysis 2. The Product/Service Give a short description of the Product /Service in terms of its functions / features / appearance / outcomes. How innovative and creative is your Business Idea? (Include in your answer the Unique Selling Propositions / how different the product/service is from the existing ones. (Start a new para)Who are the customers? Describe the different customer segments you will serve? Who are the most important customers? Why is it so? What different products and services and Value Propositions are you offering to each Customer Segment? What Value propositions are you going to provide to your customers? What customers problems are you helping to solve? / What customers needs are you satisfying? Consider: Mass market, Niche market, Diversified- Segmented- Multi-sided platform, Eco system, B2B, B2C, B2G, and Stake-holders (Start a new para)What Key Activities do your Product /Service require? Describe your Product /Service Distribution Channels. Department of Professional Development & Humanities Entrepreneurship Creativity & Innovation M2H124701 ECI-Business Plan Guidelines Feb. 2022 Semester B Page 3 of 5 What kinds of activities are key to your Distribution Channels? (If applicable) What kinds of activities are important to maintain your Customer Relationships? What kinds of activities are fundamental to your revenue streams? What resources do you need? What core competencies are needed to sustain your business? Types of resources: Physical [tools/machinery/equipment, intellectual (brand patents, copyrights, data), Human, Financial, Soft Skills & Capabilities, Know-hows, Networks, Structures]. (Start a new para)Who are your key partners? (Not just investing partners but the other partners also).Explain the purpose. Who are your main suppliers and what do they supply? What are your In-country Value (ICV) strategies? Which companies/organisations you will be networking with and for what purpose? Refer to: Text Book p 67,231,237 Steve Mariotti p167 3. Marketing Strategy Describe your advertisement Plan and channels through which you can reach your customers? Which channels work best? Which channels are most cost-efficient? What digital marketing strategies are you using? (Plan at least two). (Start a new para)Describe the Promotional Strategy of your product/service. Describe the Pricing Strategy of your product/service. What will be your after sale service plan? (Start a new para)What percentage is your Market Share? Who are your competitors and where are they located? (You can provide Competitive Matrix in appendix) What is your Competitive Advantage? (Identify possible differentiators.) (Start a new para)What strategies will be used for maintaining customer relationship with each of the customer segments? What strategies you will follow to retain and increase customers? Explain your CSR initiatives. Note: Customer relationships are established and maintained with each customer segment. Department of Professional Development & Humanities Entrepreneurship Creativity & Innovation M2H124701 ECI-Business Plan Guidelines Feb. 2022 Semester B Page 4 of 5 Refer to: Text Book: p 63,208,209,210,211,213,259,260,269,306 Steve Mariotti: p112, 115,116,177,211,213,215,216,219, 223 -225,229 Session PPTs: 8 to 9 4. Financial Projections What are the most important costs essential in your business model? Which Key Resources are most expensive? Which Key Activities are most expensive? Describe your revenue streams. What is the total Startup Investment? What is your total cost per unit? What funding options are you going to explore? Which type of financing are you going to use? What support will you need from the local ecosystem? Note: Revenue Streams are result of the value propositions successfully offered to customers. It describes the streams through which money is earned. Refer to: Text Book: p 79, 81, 99-144 Steve Mariotti: p266, 268,288,320 Session PPTs: 10 to14 Appendices: I. Financial Projections & Work Sheets i. Startup Investment Refer to: Text Book: p107, 115,116 Steve Mariotti: p275, 289,333 II. Market Research & Organisation i. Market Survey Questionnaire Sample ii. Market Analysis iii. SWOT Analysis iv. PEST Analysis v. Oraganisation Structure Refer to: Text Book p66, 233,253, 255,265,266 Steve Mariotti p159, 407 III. One page Business Pitch Department of Professional Development & Humanities Entrepreneurship Creativity & Innovation M2H124701 ECI-Business Plan Guidelines Feb. 2022 Semester B Page 5 of 5 i. Design One Page showing the highlights of your Business (Product/Service Specific Features, Competitive Advantage) ii. A social media you are on Logos iii. Your Business Logo iv. Your Business Tagline