Week 7 Assignment – Business Plan Part II ? Financials, Competitive Analysis, and Strategic Assessment Overview Note: Refer to reading assignments?
- Week 7 Assignment – Business Plan Part II – Financials, Competitive Analysis, and Strategic Assessment
Overview
Note: Refer to reading assignments and discussion questions from previous weeks to complete this assignment.
In Part I of your business plan, you identified an overview of your business concept, provided the mission statement and vision of the company leadership, and presented the products or services that your company will produce to satisfy the specific needs and wants of your target audience. As part of this process you identified key elements of your business model, formulated a feasibility analysis, and supported this strategy with outside research.
Part II
The financial plan estimates the monetary resources and flows that the business will require to carry out the business plan. The financial section of your business plan determines whether your business idea is viable and will be the focus of any investors who may be attracted to your business idea.
In Part II, you will expand on your business plan by preparing a competitive analysis, differentiation strategy, and risk assessment for this venture. From this data, and the SWOT analysis you completed and received feedback on in Week 5, you will identify your strategic position statement that identifies your competitive advantages and value proposition for your target audience. Next, you will share your marketing strategy and tactics that you will incorporate to create awareness of your new company’s offerings, and identify your key marketing message and messaging distribution strategy for reaching your target audience. Finally, you will identify at least three types of risks that your business faces and describe your plan to mitigate this risk.
Instructions
Write a 7–9 page paper in which you:
- Create the income statement, cash flow projection, balance sheet, and statement of shareholders' equity for your company, and provide a summary of each. Use the PlanningShop software you accessed in the Week 6 Prepare activity to complete this task.
- Prepare a market analysis, using at least two sources, that addresses the four Ps of marketing (Product, Price, Promotion, and Place).
- Prepare a differentiation strategy, using at least two sources, that identifies two ways in which your business is unique from the competition.
- Explain why a potential customer should purchase your product or service. Include an example of your marketing message and strategy for distributing your marketing content.
- Describe three business risks and plans to mitigate the risks.
- Use three sources to support your writing. Choose sources that are credible, relevant, and appropriate. Cite each source listed on your source page at least one time within your assignment. For help with research, writing, and citation, access the library or review library guides.
- This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Please check with your professor for any additional instructions.
The specific course learning outcome associated with this assignment is:
- Evaluate a company's strategic position using analyses and assessments.
Next week's assignment requires the use of the PlanningShop platform to assist in the creation of various financial statements. Please complete the following steps to gain access to PlanningShop:
· Click on this PlanningShop link.
· Select Add to cart (big red button).
· Select View Cart (big red button top right of the page). After you select Add to cart, you should see an alert showing that the product has been added to your cart.
· Enter Coupon Code (in the white field) and select Apply Coupon (red button).
· Select Proceed to Checkout. An alert near the top should say Coupon code applied successfully.
· Fill out the Checkout information and select Place order.
· Select the link for Business Plan Financials for BUS 521 under Order Details.
· The file should download the computer’s downloads folder. You will also receive a confirmation email with the link to download the file as well
· Note: Save this file somewhere on a cloud or shared drive so that you will have continued access to it.
Collepals.com Plagiarism Free Papers
Are you looking for custom essay writing service or even dissertation writing services? Just request for our write my paper service, and we'll match you with the best essay writer in your subject! With an exceptional team of professional academic experts in a wide range of subjects, we can guarantee you an unrivaled quality of custom-written papers.
Get ZERO PLAGIARISM, HUMAN WRITTEN ESSAYS
Why Hire Collepals.com writers to do your paper?
Quality- We are experienced and have access to ample research materials.
We write plagiarism Free Content
Confidential- We never share or sell your personal information to third parties.
Support-Chat with us today! We are always waiting to answer all your questions.
