Initial Business Plan Draft

There are six stages involved with developing a high power business plan. These stages can be compared to a process for hosting a dinner for a few friends. A host hoping to make a good Impression with their anticipated guests might analyze the situation at multiple levels to collect data on new alternatives for healthy ingredients, what ingredients have the best prices and are most readily available at certain times of year, the new trends in party appetizers, what food allergies the expected guests might have, possible party themes to consider, and so on$.($Swanson$,2017)$

The following figure illustrates the six stages of developing a high$-$power business plan $($Swanson$,2017)$:

During the past few weeks, we have gone over initial research in developing a business concept. This week, you are going to take your business concept and draft a business plan $($Stage $3)$ to include the following elements $($Swanson$,2017)$:

$$ Essential initial research $($Stage $1)$: in this stage of development, you analyze the environment in which you anticipate operating at each of the societal, industry, market, and firm levels of analysis. $($You completed this PESTEL in Unit $2.)$