Strategy, Financing, HRIS, and Putting It All Together
For this final module, you will draw on the background readings in all four modules.
In addition to correcting each previous Business Plan component, review the information about financing options and also about competitive strategies and select the one you want to employ in your new business venture. Your options to select from are:
Narrow market scope
Segmentation Strategy
Broad market scope
Differentiation Strategy
Cost Leadership
Uniqueness competency
Low cost competency
Empirical research on the profit impact of marketing strategy indicates that firms with a high market share are often quite profitable, but so are many firms with low market share. The least profitable firms are those with moderate market share. This is sometimes referred to as the “hole-in-the-middle” problem.
Porter explains that firms with high market share are successful because they pursue a cost-leadership strategy, and firms with low market share are successful because they employ market segmentation or differentiation to focus on a small but profitable market niche. Firms in the middle are less profitable because of the lack of a viable generic strategy.
Watch this video, How to write a business plan step by step in 2021.
Keys to the Assignment
• Your paper should be 6-8 pages long (not including title and reference pages).
Use this checklist to make sure you include all parts of the assignment in your final submission:
Included a SWOT analysis chart and discussion of each square
Identified the unmet need for your business
Identified an appropriate form of business ownership
Identified your competition
Identified your target market
Identified your product
Identified the price set for your product
Identified the type(s) of promotions to offer
Identified how your product will be distributed
Identified how you will position the product
Identified the special marketing (for example, guerrilla)
Identified social media marketing plan
Identified your time schedule for implementing the marketing plan
Identified your planned marketing budget
Identified your performance evaluation and contingency plan
Identified your project management plan
Identified source of funding
Identified the generic strategy you will employ
Thoroughly review the materials on Porter’s Generic Competitive Strategies and Five Forces Model in the background readings.
· Use at least 5 library resources in your research. At least three of these resources must be high-quality references from peer-reviewed academic sources. These are found in the Trident Online Library and on the Background page in this and the other course Modules.
· Explain your analysis using terminology and concepts introduced in this module. (All terminology should have a definition from a peer-reviewed academic journal reference.)
· Use headings to organize the Marketing Plan by section. (APA guidelines require headings in all papers.)
· Cite all sources and provide a reference list using APA format.
· Proofread and edit the paper. The goal is zero errors.
· Submit your paper to the dropbox by the due date for this module. For instruction on writing papers, citing sources, proper referencing, and so forth, use Trident University’s Introduction to APA-7th Edition .
Assignment Expectations
Your paper will be evaluated using the criteria as stated in the Case rubric. The following is a review of the rubric criteria:
Assignment-Driven: Does the paper fully address all aspects of the assignment? Is the assignment addressed accurately and precisely using sound logic? Does the paper meet minimum length requirements?
Critical Thinking: Does the paper demonstrate graduate-level analysis, in which information derived from multiple sources, expert opinions, and assumptions has been critically evaluated and synthesized in the formulation of a logical set of conclusions? Does the paper address the topic with sufficient depth of discussion and analysis?
Business Writing: Is the essay logical, well organized, and well written? Are the grammar, spelling, and vocabulary appropriate for graduate-level work? Are section headings included? Are paraphrasing and synthesis of concepts the primary means of responding, or is justification/support instead conveyed through excessive use of direct quotations?
Effective Use of Information: Does the submission demonstrate that the student has read, understood, and can apply the background materials for the module? If required, has the student demonstrated effective research, as evidenced by student’s use of relevant and quality sources? Do additional sources used provide strong support for conclusions drawn, and do they help in shaping the overall paper?
Citing Sources: Does the student demonstrate understanding of APA Style of referencing, by inclusion of proper citations (for paraphrased text and direct quotations) as appropriate? Have all sources (e.g., references used from the Background page, the assignment readings, and outside research) been included, and are these properly cited? Have all sources cited in the paper been included on the References page?
Timeliness: Has the assignment been submitted to TLC (Trident’s learning management system) on or before the module’s due date?
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