Final Project

Question:"Planning to Start your own Business"

Learning Objectives:

1.To incorporate the theoretical and practical aspects of individual and firm entrepreneurship

2.To acquire specific skills in developing a business plan and understand the basic principles in business operation i.e. marketing and financing.

Guidelines

1. Work in a group that you had formed in class. As a group prospective entrepreneur, you are required to prepareBUSINESS PLANfor an upcoming enterprise or for a product/service based on the business model presented in class earlier.
2. The business plan represents a combination of various sub-plans covering the broad areas of activity in a business operation.The outline of the business plan are as follows:

A.Table of content

B.Executive summary - A distillation of the entire plan to capture the reader's interest.

C.General business description - An overview of the business, its vision and mission and the explanation about the product/service offered.

D.Industry analysis - An overview of the industry, the market situation, the competition.

E.Management plan - Explanation about the management team and the organization

F.Marketing plan - Explanation to the reader that there is an eager market for your product/service and how you are going to fit into the market structure.

G.Operational plan - Explanation of how you intend to deliver your product/service to your target market.

H.Financial plan - Includes the sources of financing and how you plan to manage the financial allocation in order to ensure profitable returns.

I.Appendix

BUSINESS PLAN GRADING RUBRIC

Executive Summary

• Executive summary is clear, concise, and effective; summary provides a thorough overview of the business, and fully outlines and describes main points.

Business Description

• Presents the business idea thoroughly and effectively, including the company's mission, vision, goals, objectives, and overall strategic direction; fully outlines the reasons for launching the venture, and describes product/service offered, company focus, and business model; clearly and convincingly articulates the company's distinctive value proposition

Industry Analysis

• Provides a thorough analysis of industry size, segments, maturity, opportunities and threats in the industry, overall trends and outlook for the industry, and major competitors; specifically identifies target market and consumer demographics, and fully describes niche in which the company will operate; clearly presents significant competitive advantages and effectively analyzes their impacts on organizational success

Management

• Plan Clearly outlines and describes the management plan for the new enterprise; details the roles, responsibilities, qualifications, and relevant expertise of key members of the management team; clearly identifies other stakeholders, including a Board of Directors and any advisory boards, who will contribute management or consulting expertise, and highlights their strengths; fully describes other professional service firms that will provide management support (e.g., accounting, customer service, etc.)

Marketing Plan

• Clearly outlines and describes the marketing plan and an effective overall marketing strategy for the proposed new enterprise; provides details regarding pricing, promotion, advertising, distribution, media usage, public relations, and web/social media presence; fully describes sales management plan and composition of sales force; provides a comprehensive and detailed budget for marketing plan

Operational Plan

• Effectively outlines and develops an operational plan for the proposed new enterprise; the plan clearly identifies needs relating to human resources, facilities, and technology infrastructure; fully describes plan for logistics and supply chain management

Financial Plan

• Presents an accurate, realistic, and achievable financial plan for the proposed new enterprise; the plan includes reasonable and fully supported sales forecasts and income projections, proforma financial statements, a break-even analysis, and a capital budget; the plan clearly identifies and effectively justifies possible sources of financing