A business plan is comprised of a written statement of the rationale for the enterprise and a step-by-step explanation of how it will achieve its goals. A business plan is in effect a blueprint, (or, in this course, a written document), that structures all of a firm’s activities, including the implementation and control of those activities. It should explain the purpose of the company, evaluate its competition, and indicate a strategy for acquiring sufficient funds to keep the firm going. While writing a business plan is in itself important to help the business owners understand all the moving parts of their business, it is generally targeted to outsiders looking to provide funding for the company.
In this course, you will complete a business plan for a new company. In Sessions 1 through 4, the Business Plan Prep assignments will provide a stepped approach to define and complete each section of the Final Business Plan. During Session 5, you will finalize your research and complete the Business Plan Template.docx (five to seven pages) as the final paper (while you will not use Business Plan Template until Session 5, you may refer to it throughout your milestone work to ensure that you have covered all of the requirements). As this is an entry course, your objective will be to generally incorporate all of the contributing elements of a sustainable business plan strategy.
Throughout your plan's development process, refer to the “Building a Business Plan” steps (Part 1-6) within the textbook. Not all the information mentioned in the Guidelines will be required for your final business plan, but it will help you stay on track.
Make note of each chapter's "Running a Business" vignette about the company Graeter’s, which captures relevant ideas from each chapter that will help pull all the elements of the Business Plan together.
Be advised that variety within industry and markets, as well as a spectrum of student interests, may result in varying focus for research from one chapter to another. That is perfectly acceptable.
You need to choose a new business that you would like to start and prepare a business plan for that business. The only requirement is that it be a new business and not an existing one.
For the Session 1 Final Milestone:
Include the following in a one- to two-page paper:
- Business Description
- Mission Statement/Vision Statement: An important starting point for your business plan is to know your purpose (mission) and where you are going (vision). Both are essential for success. Make sure to research both of these and develop a clearly defined mission and vision for your company.
- Products/services offered (manufacturer, merchandiser, or service provider).
- Brief Marketing Plan
- Choose a name for your business and explain the significance of the name.
- Choose and justify your location.
- Identify your target market and general strategy to attract clients/customers.
- Competitive Analysis
- Identify the competition as broadly as possible.
- Why will the business be successful given the market?
Write your paper in Microsoft Word and format it according to APA standards.
Your final paper will require you to use a minimum of six academic sources, one of which will be your course textbook. During your milestone work, be sure to locate an academic source each week to stay on track for the six total academic sources required for your final.
As you complete each milestone, your instructor will provide feedback regarding any adjustments or recommendations required for your Final Business Plan in Session 5.
Scroll down to the bottom of the page and click on add a file, then click submit to upload your assignment by the posted due date. Review the rubric for specific grading criteria.
Business Plan Prep
A business plan is comprised of a written statement of the rationale for the enterprise and a step-by-step explanation of how it will achieve its goals. A business plan is in effect a blueprint, (or, in this course, a written document), that structures all of a firm’s activities, including the implementation and control of those activities. It should explain the purpose of the company, evaluate its competition, and indicate a strategy for acquiring sufficient funds to keep the firm going. While writing a business plan is in itself important to help the business owners understand all the moving parts of their business, it is generally targeted to outsiders looking to provide funding for the company.
In this course, you will complete a business plan for a new company. In Sessions 1 through 4, the Business Plan Prep assignments will provide a stepped approach to define and complete each section of the Final Business Plan. During Session 5, you will finalize your research and complete the Business Plan Template.docx (five to seven pages) as the final paper (while you will not use Business Plan Template until Session 5, you may refer to it throughout your milestone work to ensure that you have covered all of the requirements). As this is an entry course, your objective will be to generally incorporate all of the contributing elements of a sustainable business plan strategy.
Throughout your plan’s development process, refer to the “Building a Business Plan” steps (Part 1-6) within the textbook. Not all the information mentioned in the Guidelines will be required for your final business plan, but it will help you stay on track.
Make note of each chapter’s “Running a Business” vignette about the company Graeter’s, which captures relevant ideas from each chapter that will help pull all the elements of the Business Plan together.
Be advised that variety within industry and markets, as well as a spectrum of student interests, may result in varying focus for research from one chapter to another. That is perfectly acceptable.
You need to choose a new business that you would like to start and prepare a business plan for that business. The only requirement is that it be a new business and not an existing one.
For the Session 1 Final Milestone:
Include the following in a one- to two-page paper:
- Business Description
- Mission Statement/Vision Statement: An important starting point for your business plan is to know your purpose (mission) and where you are going (vision). Both are essential for success. Make sure to research both of these and develop a clearly defined mission and vision for your company.
- Products/services offered (manufacturer, merchandiser, or service provider).
- Brief Marketing Plan
- Choose a name for your business and explain the significance of the name.
- Choose and justify your location.
- Identify your target market and general strategy to attract clients/customers.
- Competitive Analysis
- Identify the competition as broadly as possible.
- Why will the business be successful given the market?
Write your paper in Microsoft Word and format it according to APA standards.
Your final paper will require you to use a minimum of six academic sources, one of which will be your course textbook. During your milestone work, be sure to locate an academic source each week to stay on track for the six total academic sources required for your final.
As you complete each milestone, your instructor will provide feedback regarding any adjustments or recommendations required for your Final Business Plan in Session 5.
Scroll down to the bottom of the page and click on add a file, then click submit to upload your assignment by the posted due date. Review the rubric for specific grading criteria.
