Write a business plan for a new fictitious company thinking about both the short and long term of a business.
Business planning requires both observation of the present state of a company’s performance, as well as a vision and goals for its success.
Instructions
Critically analysed, reflected on and synthesised this complex information, develop and write a business plan.
Remember: Need to develop a scholarly argument that demonstrates why your proposed business plan is better than alternative plans.
1. Vision and Mission
When write vision and mission statements, make sure summarise your scholarly argument on the essence of what your company seeks to become (vision) and what it seeks to achieve, and how it plans to make money (mission).
2. Company Description
Analyse the company and important details including its location, address, industry, business services or products, and use the founding story to support your scholarly argument (how and why it started).
3. Description of Product or Service (including 4Ps)
All business plans include a marketing plan. Include the essential basic elements and refer to the larger scholarly argument.
4. Rationale/Point of Difference
A rationale and key point of difference is an area that many investors will examine. This is because they want to know that there is a market for your company’s products or services. The points of difference show consideration for your business’ value proposition, framed as a scholarly opinion/argument.
5. Market, Competition and Positioning
6. Marketing and Promotion Strategy
While promotion is one of the 4Ps, often see a distinct section on marketing and promotions in business plans. Include scholarly argument proposing your digital promotions strategy, paid or unpaid advertising such as the use of influencers, and promotion strategy proposals over several years.
7. Competitor Analysis: SWOT/Pestle/STEEPLE/Five Forces Framework
8. Your Team – Experience and Roles
Include the names (possibly fictitious) of individuals you hope to hire and the roles they will fill, arguing (with references to peer-reviewed journals) why certain skills/traits are needed to support your business plan. Include yourself as a manager.
9. Financial Statement: Cash Flow Forecast
Include the three major financial statements for 1-3 years: a cash-flow forecast, a profit & loss statement and a balance sheet.
10.Risk Management
Use PESTLE analysis to evaluate risks and Porter’s 5 Forces Model to explain competitive risks and risk management rubrics.
11.Summary/Conclusion
Reference: Peer reviewed journal references with DOI reference. 6 peer reviewed journal references per 500 words.
Task Conditions: APA 7th edition referencing style.
Marking criteria outlined in the attached rubric.
