Entrepreneurship (Fundamentals and Concepts)
You need to start a hypothetical business based on an innovative and creative business idea. The initial amount available is 50,000 OMR. Your idea needs to be based on a product, or a service or e-business. Develop a Business Plan for your business idea.
Tasks:
Write a Business Plan that contains the following required parts:
? Introduction – business background
? Marketing Feasibility- viability of the business in the market
? Financial Feasibility- Forecast of Sales with Assumptions
? Organizational Feasibility- sustainable organisation of the business
? Socio-economic Impact – bearing of the business to society and economy
? References- Sources of information that support the ‘in-text’ citations
Introduction
Should include the brief information about the following: ? Name of the Planned Business ? Nature of Business ? Service/Product Name and Description ? Business Location ? Type of Ownership ? Opening Date ? Initial Capital ? Source of Capital ? Name/s of Owners
200
Marketing Feasibility
Should include the brief information about the following: ? Business Environment Analyses: Before & At Present ? Customers’ Demographics ? Competition Analysis ? Competitive Advantage ? Pricing Strategy ? Advertising and Promotional Strategies ? Business SWOT Analyses
1000
Organisational Feasibility
Should include the brief information about the following: ? Organisational Structure (Chart) ? Job Description with Corresponding Salary Appropriation
300
Basic Financial Requirements
Should include the brief information about the following: ? Forecast of Sales with Assumptions ? Operational Expenses ? Projected Income Statement
300
Socio-Economic Impact
Should include the brief information about the following:
? Contribution to Business Industry, Local Economy, and Societal Culture
200
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