OBJECTIVES: Develop new business plan to set up new firm.

EXPECTED LEARNING OUTCOME: $1.$ Demonstrate understanding of the relationship between innovation, entrepreneurship and value creation as well as the unique role of the entrepreneur in driving innovation and growth.

$2.$ Apply the principles of business planning, marketing, financing, human resource management, and customer relations on management for new business development.

$3.$ Analyze and apply the activities involved in developing a new business plan to set up a new firm in physical or online method.

TASKS: $1.$ Data collection is initial part of designing business plan. Spending time on research is necessary to come up with new business idea.

$2.$ Determine the purpose of your plan.

$3.$ Create a company profile

$4.$ Document all aspects of your business

$5.$ Have a strategic marketing plan in place.

$6.$ Make it adaptable based on your audience

$7.$ List down and explain why you care $($i$.$e$.$ what makes you stand out

from the competition$)$

$8.$ Prepare at least five years projected income.