BUS116

Overview, Learning Objectives, Class Preparation

Business Plan Section 1&2
Introduction and Marketing

OVERVIEW

Introduction:This section introduces the concept of a business plan, explains why a business plan is valuable for both start-ups and existing businesses, and outlines the information that should be included in the executive summary. In addition the next section discusses the purpose of a mission statement and provides several examples. The section also introduces the concept of the business environment including national, industry, and local trends.

Marketing: This section is an introduction to the marketing section and helps the student to clearly describe the products and services the company will offer. It also includes a format to use to complete an analysis of the competition.

LEARNING OBJECTIVES

To understand the many topics that should be addressed in a business plan.
To realize business plans are helpful for both start-ups and existing businesses.
To be able to write a business plan that could be submitted to a bank or investor for financing.

To be able to write an executive summary for a business plan.
To be able to formulate a mission statement for a business.
To comprehend the impact of the external business environment.

To be able to write a detailed description of how a company will compete in the marketplace.
To be able to provide a comprehensive description of the company’s products and services.
To understand how to complete a competitor analysis and develop a competitive advantage for a company.

Format for Discussion Questions: Typed, (Question in bold) followed by your answer. May be submitted in class paper copy, email, or Blackboard.

Classprep:

READ Business Plan Introduction,Executive Summary, Mission Statement, and the Business Environment, Marketing sections Pages 142-164 through competitive advantage

Fill out the Checklist and bring them to class. We will discuss your work.

Be prepared to discuss your answers in class.

Power Point Slides