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