Misc. information

If there is some extra info for the business that is not applicable in the 6 categories below, please post it here.

Okay, so everyone should put a comment of what they think could be useful under each post of the different parts of the business plan.

Part 6 Financial Issues

This part of the business plan asks students to consider how they’ll finance their business as well as create an executive summary for their plan.

Part 5 Managing Information

This part of the business plan asks students to think about their business in terms of information technology needs and costs. Students are also asked to complete a balance sheet and income statement for their businesses. 

Part 4 Principles of Marketing

This part of the business plan asks students to think about marketing’s “Four Ps”—product, price, place (distribution), and promotion—and how they apply to their business. Students will list features and benefits as well as the points of difference for their product or service. After describing the product, the student must connect those described features and benefits to a targeted buyer. Once the targeted buyer has been named, students will describe advertising and promotional efforts to get the buyer’s attention.

Part 3 People in organizations

This part of the business plan asks students to think about their employees, the jobs they will be performing, and the ways in which they can lead and motivate them. Students take the different job titles they created in the organizational chart in Part 2 and give thought to the skills that employees will need to bring to the jobbefore they begin. They also consider the training they’ll need to provide employees after they are hired, as well as how they’ll compensate their employees. Part 3 of the Business Plan also asks students to consider how they’ll lead employees and keep them happy and motivated.

Part 2 The Business of Managing

This part of the business plan asks students to think about goals of their business, some internal and external factors affecting the business, as well as theorganizational structure of the business. As part of the assignment, students will perform a basic SWOT analysis for their business and create an organizational chart to show the framework of the business. Students will also explain the role of each employee, and how each relates to the others. Finally, students are asked to examine various factors relating to operating their business.

Part 1 The Contemporary Business Environment

This part of the business plan asks students to come up with a “great idea” for a business, creating an identity and forming a concrete notion of what the business will do. The first part of the plan also asks students to identify the type of ownership the business will take and briefly looks at who the firm’s ideal customers are. This part of the plan also looks at how the business will interact with the community and demonstrate social responsibility, and includes a perspective on the impact of global business.