Throughout this course and the next several Small Business and Entrepreneurship courses, you will be researching, planning and developing various components of a business plan. Your goal in these first few courses is not to develop a fully-functional business plan, but rather to learn about different types of:
Business plan components
Funding and financial requirements
Marketing and sales strategies
Other considerations relevant to running a successful business
Once you have a better understanding of everything that goes into creating a successful business plan, including what can go right or wrong within each area, you will be much better prepared to develop your own business plan in MGT/465 Small Business and Entrepreneurial Planning. So, please keep in mind that you will be able to revise and expand upon your work as you proceed with the development of your business plan.
For this assignment, you will be drafting a brief overview for a fictional company.
Research “Business Plan Components” and “Sample Business Plans” on the Internet, as well as relevant topics that can help you to cultivate new business ideas.
Write a brief description of your proposed company in 350 to 525 words. Your description should include the following:
The company name and history
The product(s) or service(s) you will offer
Opportunity (i.e. the specific problem your product/service will solve)
Your overall business strategy
Your competitive advantages
Refer to your Strategic Management Worksheet assignment for additional details. You can use this worksheet to capture basic information that will help guide you through the business plan development process. Do not worry about getting too specific in any particular area, since you will be revisiting this overview to provide more detailed information as you complete additional sections of your business plan