Creating a Business Plan
Regina Poincy-Zimmerman is a highly successful marketing account executive. Regina has noticed her current organization, Genaflek Marketing, is not progressing from use of the traditional print and media marketing methods to the utilization of social media marketing. As a result, Regina has decided to open a business to fill the void in Genaflek’s services. Regina has completed an assessment of her personal character traits and discovered she is highly oriented for entrepreneurship. Regina’s second step in planning to open a business is to create a business plan.
This assignment requires you to consider the components of a business plan. Use your background, experience, and one reading of your choice to create a functional business plan for a new company. This choice of a company may be may be a real company with which you are familiar, one that you imagine or create, or Regina’s new company.
Imagine that you are an organizational consultant hired to analyze a plan for a new organization. In a 1–2-page outline, describe and explain the following:
Part 1: The Executive Summary
- Describe the business and what it does.
- Give a synopsis of the primary purpose of the business, its most important responsibilities, and how you plan to accomplish the business purpose.
Part 2: Basic Company Information
- Telephone number and fax number.
- Date the business was established.
- Hours of operation.
Part 3: The Product or Service Offered
- Describe the product or service in a logical way. Assume the reader knows nothing about your product or service.
- Organize your product line in a thorough manner
- Describe how the product or service satisfies the target market.
Part 4: Facts About Your Industry and Competition
- Discuss your industry, particularly the historical replication niche in which you plan to place yourself.
- Address your competition and your customers, especially how you plan to beat the competition.
Part 5: Management, Ownership, and Organization
- As the owner, this section will be brief. Discuss the business style; sole proprietorship, limited-liability corporation, et cetera. If you are not the owner, a flowchart of the management of the company might be used here.
Part 6: Marketing Plan
- Describe the manner in which you will get your name out to clients.
Part 7: Plan of Operations
- This is the most in-depth section of the plan. How do you plan to run your business? Think about day-to-day operations. How will you obtain clients? What services will you offer? How will you satisfy client needs?
Part 8: Financial Operations
- For this assignment, we will not complete the financial operations section of the business plan. We will revisit this section in a later unit.
Tip: To ensure the assignment is completed accurately, follow the outline provided in these assignment instructions. Good luck in engaging in this critical step of opening a new business.
Your assignment will be scored on the following criteria:
- Describe a business, product, or industry. This includes Parts 1-4.
- Explain the purpose of a business plan in a business. This should be included in Part 1.
- Explain the management structure of the business. This should be addressed in Part 5.
- Explain the marketing plan for the business. This should be addressed in Part 6.
- Explain the operational plan for the business. This should be addressed in Parts 7 and 8.
- SafeAssign (optional):
- Submit your composition to SafeAssign as a draft.
- Review the report. (You may ignore any template matches.)
- Make appropriate changes as needed before submitting your composition to your instructor for grading.
- Written communication: Written communication is free of errors that detract from the overall message.
- Font and font size: Times New Roman, 12 point.
- Length of paper: Short outline of 400–500 words (approximately two pages), double-spaced.
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