BUS 599: Strategic Management

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Company Name- Final Business Plan

First Name Last Name

Strayer University

Professor Dr. Andrea Banto

January 10, 2021

Company Name- Business Plan

Executive Summary

  • Write a one to two (1–2) page executive summary highlighting key aspects of each section of the business plan. Do not exceed 2 pages.
  • Check out Chapter 4-The Executive Summary and use one of the two examples provided as a guide (pages 62-66).
  • Use subheadings for each section of the executive summary, just as in the examples provided in the textbook Required subheadings in the Executive summary provided below.

The Company

Mission

Product and Services

Marketing and Sales Strategy

The Competition

Target Market

Management

Operations

Stage of Development

Financials

Funds Sought and Utilization

  • Once the Executive summary is done, start the Business Plan on a new page with the headings “Business Plan” and then include Assignments 1, 2, 3, and written financials from week 8 discussion. See the next page where the business plan starts.

Business Plan

Company Description and SWOT Analysis

Company Name and Product  

Mission Statement

  • Write the mission statement (use quotation marks). You would have created this in week 1 discussion. Be sure to revise per the feedback provided as a reply to your week 1 discussion post. Use the Statement of Mission template on pages 72–73 of the course textbook, Successful Business Plan, to aid your development. The mission statement should include” who you are (as a company), what you do (focus on what you sell), and why you are in business (your purpose).
  • Explain the components of the mission statement and the reasoning for their selection. In this section you will clarify why the information included in the mission statement is important and should be included there.

Trends in the industry

  • Research, outline and describe the trends in the industry you are operating in (based on the type of company you selected). Try to be specific for your chosen category or product or service.
  • Consider the size and growth rate for the industry overall and for the specific product or service you are focusing on.  
  • Search the Strayer Online Library, industry associations and reliable website for recent data.

Strategic position

  • Choose one strategic position from the text (page 146-147) and discuss why you believe this would be the best position for your chosen company.
  • Explain the approach you will use at your company to implement this strategic position to stand out from similar products and competition.

Distribution

  • Describe the company’s distribution channels. For example, will you sell your beverage in grocery stores, restaurants, or sports venues. Are you attempting to sell online or as a subscription?  
  • Provide the rationale for your chosen distribution method.

SWOT Analysis

  • Insert the SWOT table/matrix (at least 4 bullets in each category). You created this in week 2 discussion. Be sure to read the feedback provided by the instructor as a reply to your post in week 2 discussion thread and adjust as needed.
  • Summarize the key learnings from your matrix (the takeaways from this analysis) in a few paragraphs under the matrix. For example, you can explain your greatest strengths and how these can be used to pursue the opportunities you identified or to mitigate some of the threats. You can also discuss your plans to minimize some of the weaknesses, etc. Be specific and avoid generic information.
Strengths 1. 2. 3. 4.Weaknesses 1. 2. 3. 4.
Opportunities 1. 2. 3. 4.Threats 1. 2. 3. 4.

Marketing Plan and Sales Strategy

Target Market

  • Describe your target market (customers) in demographic terms (age range, income range, gender education, etc.) as well as the geographic, lifestyle, psychographic, purchasing patterns and buying sensitivities description.  
  • You have addressed this topic in week 3 discussion. Be sure to check the feedback provided by the instructor as a reply to your week 3 discussion post in week 3 discussion thread and make changes as needed. Check the suggestions made by other students as well.

Market Competition

  • Outline your key competitors (at least 3) using the factors listed on page 125 in your textbook, in the “Assess the competition” table. Specify the company and product you are competing with.
  • Explain how would you differentiate yourself (your product or service) from the competitors you outlined.

Value Proposition

  • Outline the company’s value proposition (be specific to the product or service you plan to sell). The value proposition should be a brief description of how your product or service solves a problem the customers may have (or provides an improvement), should list the benefits the customers can expect, and why customers should buy your product or service instead of other similar ones on the market. You should also consider providing some evidence of your claims. The value proposition tells your customers why should they buy from you.
  • Create a marketing slogan/ tagline for your product. You must determine the message you will want to convey through your marketing vehicles.

Marketing Vehicles

Note: Include the table you completed in week 4 discussion and  then describe each marketing vehicle in detail under the table.

Marketing Vehicles Table
Marketing VehicleFrequencyCost/Month
Example 1 Social Media: Facebook and Instagram2–3 times per week$600 per month
Example 2 TV Stations: Local Station, WTC1 time per week$1,000 per month
Example 3 Free Samples2 events$500 per month
   
  • Describe each of the marketing tools you plan to use to build your brand. These are the different methods you will use to promote your product (social media, website, billboard, sampling, trade fairs, etc.) Be specific when discussing these. For example, specify what social media channels you plan to use or what local Radio or TV stations are you targeting to run your ads. Specify the approximate cost. Note that you will use a combination or tactics to reach your target market. The selection of the marketing vehicles will be based on the target market you chose. For a list of online marketing tactics, refer to the worksheet in the text (p. 177 | Online Marketing Tactics).
  • Explain why would you use each of these and why you believe they would be effective.  
  • You have written about the marketing vehicles in week 4 discussion. Be sure to check the feedback provided by the instructor as a reply to your week 4 discussion post in week 4 discussion thread and make changes as needed. Check the suggestions made by other students as well.
  • Important! Remember to use the same marketing tools in your Excel Worksheet as you complete the Marketing Budget.

Operations, Technology, Management, and Social Responsibility Plan (with Financials)

Operations Plan

  • Remember to assign a dollar amount to each operational cost you find, as you will need these figures for financials document.
  • Follow the guidelines provided, as applicable (company of choice or snack-food)
  • Check out Chapter 11- Operations
  • You have addressed operations in week 5 discussion. Be sure to check the feedback provided by the instructor as a reply to your week 5 discussion post in week 5 discussion thread and make changes as needed. Check the suggestions made by other students as well.

Facilities

  • Discuss if you will rent or buy the facility in which you will operate.
  • Include the cost of your utilities (You will need to input these costs under the income statement on the Business Plan Financials Excel document where you will need to input these costs)

Production Process/ Description of Operations (if service company)

  • Describe how your business will function to make the product or deliver the service
  • Outline what equipment is needed to run your business (machine, refrigerators, etc.) including the cost of such equipment. Clarify if you rent or purchase this equipment. You will reflect these costs in the Business Plan Financials Excel document.
  • Discuss how you will ensure quality control.
  • Discuss the capacity you intend to reach (note that you must reach sales over 1 million by the end of the second year).
  • Discuss your approach to inventory, where the supplies are coming from, the turnaround time to produce a product or deliver a service once the customer placed the order.

Research and Development

  • Discuss how you will stay abreast of any new development in the industry
  • Discuss any new products or services you have in development
  • Discuss who will be in charge of the R&D activity at your company.

Personnel Needs in Operations

  • Clarify how many employees you have in operations and the key roles. Specify the average pay.

Technology Plan

  • Remember to assign a dollar amount for each cost, as applicable.
  • Follow the guidelines provided, as applicable (company of choice or snack-food)
  • Check out Chapter 12- Technology Plan
  • Consider the type of technology your selected company will use to conduct activities such as managing personnel; taking, fulfilling, and tracking orders, managing inventory, communicating with customers and providing customer service, producing your product or providing your service.

Software needs

  • List and briefly describe the software you think you will need and and approximate cost. Examples: graphic software,  customer relationship management, accounting, inventory, office, etc.

Hardware Needs

  • List and briefly describe the hardware you think you will need and the approximate cost. Examples: computers, monitors, servers, routers, tablets, etc.

Telecommunication Needs

  • List and briefly describe the telecommunication equipment, etc.  you think you will need and the approximate cost. Examples: phone, internet, fax, etc.

Personnel Needs

  • Discuss who will handle the technology needs at your company in terms of personnel. Are you going to have an in-house person, team, or these activities will be outsourced?

Management and Organization Plan

  • Remember to include the salary costs associated with the management personnel you plan to hire.
  • Follow the guidelines provided, as applicable (company of choice or snack-food)
  • Check out Chapter 13- Management and Organization
  • You will create a management and organizational plan for your selected company, expanding on the topics below.

Key Management Employees

  • List key management employees and include a brief description of the relevant responsibilities, experience and skills for each person. Include the salary.

Advisors

  • List any people you plan to use as advisors for the business, with a brief description of their areas of expertise and how you expect them to contribute to the business.

Management Hierarchy

  • Using the flow charts on p. 248 as a guide, outline your company’s management hierarchy.
  • You must include a chart or diagram in this section!!  In Word, click on Insert option top of the document/ then Smart art/ then Organizational hierarchy to create your figure.

Social Responsibility Plan

  • Check out Chapter 14- Social Responsibility and Sustainability
  • You have addressed this topic in week 6 discussion. Be sure to check the feedback provided by the instructor as a reply to your week 6 discussion post in week 6 discussion thread. Check the suggestions made by other students as well.
  • Create a social responsibility plan for your selected company, expanding on each of the topics below:

Impact on Stakeholders

  • Describe the ways in which your company will impact each of the stakeholders:

 employees, customers, suppliers, and the community.

  • Consider the benefits you plan to offer to your employees( healthcare, flexible hours, opportunities for development), support to your community (sponsored events, classes, charities, etc.), suppliers and customers (how do you plan to interact with them, consider your core values; offer quality products, etc.)  

Environmental Impact

  • Discuss how your company’s activities will affect the environment. Think of all aspects of your operations.
  • Identify the steps you will take to mitigate any negative impacts and discuss how you will minimize any negative impact in your operations. Consider energy usage, waste disposal, recycling, use of recycled materials, etc.

Important!!!:

  • Remember to include the completed Business Plan Financials (Excel document) along with the Word document when you submit the assignment.
  • You will attach the Word document, then the entire Excel document, and then you click submit.
  • You will have two separate documents with your submission in the same submission.

Summary of the Financials

1.Projected Sales

For the sales projections, indicate how many product or service lines you have, what these are, and then state the total projected gross sales for years one and two.

2.Personnel Overview

For the personnel section, state the overall number of employees first, then how many managers you have. For each manager, specify the role they have at your company, and then indicate the key skills and experience that make them qualified to run your business (one sentence per manager)

3.Funds to Date and Funds you plan to raise

  • Provide a list of the funds you already have (loans, money in the bank, etc.) and the amount for each.
  • Provide a list of the funds you are planning to raise from the investors. You must specify the equity you are planning to give away in exchange for the funds you plan to raise from investors (required).

4.Use of Funds

Provide a list of expenses you plan to make (major expenses) with the funds you plan to raise from the investors. They would want to know what you plan to do with the money.

5.Break-Even Analysis

  • The break-even number will clarify how much you need to sell just to cover your expenses.
  • Provide just the average monthly break-even number for years 1 and 2. You will find this information under the break-even worksheet in the Excel document.

6.Projected Profits

Indicate the projected profits for the first and second year. The projected profits will indicate when the company will become profitable and how much these profits are expected to be. You will find this information in the income statement/ profits.

                                                                        Sources

  • Be sure to cite all your sources.
  • Use SWS to format all the references.
  • Wikipedia and other similar websites (blogs, opinions) do not quality as academic resources.   
  • You can use websites as long as the source is reliable (company websites, forbes.com, fda.com, census.com, etc.)
  • For each reference you must have a corresponding in-text citation.

Below are examples of references (please delete and replace with yours).

1.   U.S. Environmental Protection Agency. 2016. Causes of Climate Change. https://19january2017snapshot.epa.gov/climate-change-science/causes-climate- change_.html

2.   National Aeronautics and Space Administration. 2008. Graphic: The Relentless Rise of Carbon Dioxide. https://climate.nasa.gov/climate_resources/24/graphic-the- relentless-rise-of-carbon-dioxide/

3.   Ellie Zolfagharifard. 2014. Tree Roots Act as ‘Earth’s Thermostat’: Mountain Forest

Growth Has Stabilized the Earth’s Climate for Millions of Years. http://www.dailymail.co.uk/sciencetech/article-2552933/Tree-roots-act-Earths-

thermostat-Mountain-forest-growth-stabilised-Earths-climate-millions-years.html

4.   Ronnie Cummins. 2013. How Factory Farming Contributes to Global Warming. https://www.ecowatch.com/how-factory-farming-contributes-to-global-warming-

1881690535.html