31 Aug Management Business Plan
If you need to modify anything from your feasibility analysis, please reference it in the document. (For example “Our feasibility research showed that n-dollars per meal would not return a positive ROI for x-months; therefore, we are adjusting our price to $____”) – or something similar. It must support what was in your feasibility findings.
Your business plan must be based on the previously-graded feasibility analysis.
Instructions:
Please prepare a business plan for your meal prepping company (from assignment 1). Be sure to emphasize its competitive differentiator/advantage. Read this week’s material on business plans, and include the sections shown below. Keep in mind you are proposing its location / geographic area to be in Troy, MI, so census and other data will help with this plan. Research competitors. Get an idea of how they reach customers and price their products. Use your feasibility analysis information where possible – it is okay to cut and paste from the feasibility analysis as long as you have corrected any issues.
Include an assignment title page, references page, and 7 – 10 pages of content, in Word. You may find this site, or similar sites, helpful:
https://www.entrepreneur.com/article/281416
This will help with the financials section:
https://www.thebalancesmb.com/writing-the-business-plan-section-8-2947026
Required sections:
- Executive summary – a snapshot of your business.
- Table of contents
- Company description – describes what you do; include mission statement.
- Market analysis – research on your industry, market, and competitors.
- Organization and management – your form of business and proposed staffing structure
- Service or product – the products or services you’re offering.
- Marketing and sales – specific marketing plans to launch the business and your sales strategy
- Funding request – how much money you’ll need for next 3 to 5 years (best guess here)
- Financial projections – include pro forma statements for Year 1-3: Income Statement (P & L), Cash Flow Projections, and the Balance Sheet. Also include Initial Start-up Costs (1 X Expenses) and your Sales Forecast from your Feasibility Study (This should match your Revenue projections on your P & L Statements)
- Appendix- an optional section to include tables, graphs, etc
- References page
Note that these sections are not all-inclusive of an actual business plan; rather, it has been modified for this class. There is no “one” right way to do this plan but there are deficient ways, so be as thorough as possible, and above all justify your decisions based on research and informed decision-making.
When ready, upload a Word document (not .pdf) and click ‘submit for grading.’
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Assessment Criteria – MGT 471 Business Plan |
Points Available |
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A comprehensive business plan, including all required sections, is presented with clear explanations and supportive research. |
100 |
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Marketing plan is clearly identified for company launch |
10 points |
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Emphasis on competitive advantage is included |
20 points |
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Financials section is thorough, based on best estimates for the business |
20 points |
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References included and cited |
20 points |
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The format of the paper followed the instructions given related to spacing, font, headings, etc., and words are spelled correctly, grammatically correct and free of errors |
30 points |
