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This archive file of BUS 437 Week 1 Discussion Questions 2 Using Outside Help to Write the Plan contains:
Respond to the following: What are the benefits and liabilities of using a software package to help write a business plan or hiring consultants to write the business plan for you? Respond to at least two of your classmates
Business - General Business
Writing the Business Plan . It is often stated that the process of writing a business plan is as important as the plan itself. Provide a rationale for agreement or disagreement to this statement. What is potentially gained from the writing process? Respond to at least two of your classmates’ postings.
Using Outside Help to Write the Plan . Respond to the following: What are the benefits and liabilities of using a software package to help write a business plan or hiring consultants to write the business plan for you? Respond to at least two of your classmates’ postings
Company Description . You will be developing the components of your Final Business Plan with each weekly assignment. Be sure to choose your business carefully, as you will not be able to switch later in the course. Submit the following section of your business plan:
Company Description : What business will you be in? What will you do? Describe in a 2-3 page APA paper each of the following elements:
ï‚· Mission Statement
ï‚· Company Goals and Objectives
ï‚· Business Philosophy
ï‚· Legal form of ownership
Customer Survey . Develop a one paragraph overview of your product or service. Then, identify at least five questions to include in a customer survey. Respond to at least two of your classmates and critique the questions developed to determine if their questions will address customer benefits of their product
Industry Analysis . Identify two attractive (growth) and two unattractive (dying) industries to enter into as a new entrepreneur. Provide your reasons for the selections. Respond to at least two of your classmates’ postings
Marketing Section . In a 2-3 page APA paper, submit the following sections of your business plan:
Product or Service :
ï‚· Describe your product or service and the benefits it will provide for customers.
ï‚· Describe the industry and how you will position your company.
Market Analysis :
ï‚· To whom will you market your products?
ï‚· Describe pricing, promotion, distribution and forecasts for your product/service.
Be sure to include at least one scholarly reference in your paper.
Implementation . There is a vast difference between thinking up a new product idea and actually designing and manufacturing the product. Explain the nature and importance of this difference. Why do you think this task is more difficult than anticipated? Respond to at least two of your classmates’ postings.
Operations Model . Why do you think an operations model can serve as the cornerstone of the success of a new venture? Identify one company that has developed a unique operating model (as an example, Dell developed a very unique operating model to sell customized computers online). Respond to at least two of your classmates’ postings
Strategy, Implementation, Management Sections . In a 2-3 page APA paper, submit the following sections of your business plan:
Strategy and Implementation :
ï‚·Describe your most important company competitive strengths and core competencies.
ï‚· Develop an operations flow diagram to show the key steps in the production of a product or the delivery of a service.
Management Team :
ï‚· What background experience, skills, and strengths do you personally bring to this new venture?
ï‚· Who are the key members of the team? What strengths do they bring to the venture?
ï‚· What outside assistance will you have (board of directors, board of advisors, etc?) Be specific.
Be sure to include at least two scholarly references in your paper.
Sequence of Information . Your friend is getting ready to write a business plan for a new business. Your friend told you the plans are to prepare the financial statements first to get that job out of the way before the rest of the plan is developed. Explain the flaw in this approach. What value does it provide the entrepreneur to write the financial section as the last part of the business plan? Respond to at least two of your classmates’ postings.
Financial Projections . Respond to your friend’s question: “How in the world do you project income and expenses for a business that doesn’t exist?†Respond to at least two of your classmates’ postings.
Finance Section . In a 2-3 page APA paper, submit the following segment of your business plan:
Financial Plan : Include material on the following:
1. Source and use of funds sheet (how much money a firm needs, how it will raise money, and what the money will be used for)
2. Assumptions sheet (explanation of the most critical assumptions that your financial statements are based on)
3. Pro Forma Income Statement
4. Balance Sheet
5. Cash Flow Statement
Be sure to include at least two scholarly references in your paper.
Slogan . In order to develop your business plan presentation you believe it will be important to develop a catchy slogan to describe your business. Share your slogan with your classmates and critique the slogans presented by two of your classmates.
Presentation Concerns . Identify your biggest concern in developing a business plan presentation. Describe how you will overcome your concern. Provide advice to two other classmates on possible ways to overcome their concerns.
During your first couple of years in college, explore your education options. This is the time when you can find out what you are really interested in studying. If you try different types of classes, you may discover a subject that you really like to major in. Keep your options open and do not limit yourself....
