This will be an individual project. Each student is expected to submit a summary business plan of no more than 2500 words. The plan can be thought of as a precursor to the development of a full business plan. The summary plan will identify a market opportunity, describe the target market(s), evaluate the competition, indentify the legal form of organization and government regulations, profile the marketing strategy, estimate the initial capital requirements, financial projections, highlight the timetable for establishing the venture, and indicate how the venture will be financed. Students will be requested to conduct a brief feasibility survey of their business idea and utilize descriptive statistics in Microsoft Excel to analyze the survey findings
Summary Business Plan Marking Criteria Marks allocated to criteria:
Is there use of persuasion with regard to the business plan? Does the plan form around a centralized mission? Does the rest of the plan conform to the company’s stated mission and objectives? Have the students posed and answered any research questions/hypotheses with regard to data collection that are on topic to the theme of the business plan?
Is there theoretical evidence in support of a financial analysis such as a cash flow forecast which shows that this type of product or service would be profitable? Is there theoretical evidence of a marketing strategy and competitor analysis? Would this plan elicit funds from an investor? Is there critical analysis of any survey data reported?
Did the student use appropriate literature to support the business plan? Does the literature help to identify a need for the product or service?
Clarity of structure
Is there synthesis where sub-paragraphs and sentences clearly tie together? Did the student use technology within Microsoft Excel to properly format tables/graphs to summarize descriptive statistics? How is the presentation of the business plan?
Is the plan clearly written, spell checked and grammatically sound and referenced appropriately?
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