Assignment 3: New Venture – Final Business Plan
Due: Monday, 9:00 am (eastern), Week 10 (Weight: 25%)
OVERVIEW
In this assignment, you will continue drafting your plan to launch a new product or service. You will now write sections that describe your growth strategy, leadership team and key roles, and marketing plan. You will then write an Executive Summary that will serve as an introduction and overview of your business plan.
Finally, you will assemble all of the content from your three assignments into your Final Business Plan for submission, using the Business Plan Template provided in your course to organize all your content.
INSTRUCTIONS
In Assignment 3, you will complete the final three sections of your Business Plan:
Section IX: Growth Strategy / Impact Plan Section X: Management Team / Leadership Team and Key Roles
Section XI: Marketing Plan
After all sections of the business plan are drafted, write your Executive Summary. This text is placed at the start of your paper, as Section I, but it is written last because it is an overview of the whole plan.
Finally, you will assemble all of the content from your three assignments into your Final Business Plan, using the applicable Business Plan Template provided in the course shell to organize all your content.
Continue to use the same big idea that you used in Assignments 1 and 2. As before, you will follow the instructions in ONE of the three Options below and you will continue to work with the section that matches your chosen Option.
Option A – INTRAPRENEUR
EXECUTIVE SUMMARY
o Write a one- to two-page overview, presenting the key points of the overall Business Plan. Address all sections of the plan in Summary fashion. This should include a key point from every section in the plan.
* Note: the Executive Summary is the first section in your paper, but it is the last section you will write. This works best because the Executive Summary provides an overview of your entire Business Plan.
GROWTH STRATEGY
o Compare your strategic position in the market with your competitors. o How will you develop a loyal customer base for the products or services you sell? o How fast will you grow?
o Where do you believe you can expand your business? (i.e., geographic areas, new markets) o How do you believe you can expand your business? (i.e., additional products and services, mergers, new industries, etc.)
MANAGEMENT TEAM and KEY ROLES
o Provide a list of the key management roles.
Resource: https://www.onetonline.org/ o For each key role, define the job requirements for the role.
Note: Review your Organizational Chart, in Section II of your Plan, to be sure it is compatible and consistent with your key management roles in this Section.
MARKETING PLAN
o Provide a detailed marketing plan. Be sure to include both a Promotions Strategy and a Marketing Strategy.
o In your plan, show how you will incorporate “The Four Ps of Marketing.” For information on this concept, refer to The Four Ps of Marketing document in your Assignment 3 Resources.
* * * * * * * * * * * * * * * * * * * *
Option B – ENTREPRENEUR
EXECUTIVE SUMMARY
o Write a one- to two-page overview, presenting the key points of the overall Business Plan. Address all sections of the plan in Summary fashion. This should include a key point from every section in the plan.
* Note: the Executive Summary is the first section in your paper, but it is the last section you will write. This works best because the Executive Summary provides an overview of your entire Business plan.
GROWTH STRATEGY
o Compare your strategic position in the market with your competitors. o How will you develop a loyal customer base for the products or services you sell? o How fast will you grow?
o Where do you believe you can expand your business? (i.e., geographic areas, new markets) o How do you believe you can expand your business? (i.e., additional products and services, mergers, new industries, etc.)
MANAGEMENT TEAM and KEY ROLES
o Provide a list of the key management roles.
Resource: https://www.onetonline.org/ o For each key role, define the job requirements for the role.
Note: Review your Organizational Chart, in Section II of your Plan, to be sure it is compatible and consistent with your key management roles in this Section.
MARKETING PLAN
o Provide a detailed marketing plan. Be sure to include both a Promotions Strategy and a Marketing Strategy.
o In your plan, show how you will incorporate “The Four Ps of Marketing.” For information on this concept, refer to The Four Ps of Marketing document in your Assignment 3 Resources.
* * * * * * * * * * * * * * * * * * * *
Option C – NONPROFIT
EXECUTIVE SUMMARY
o Write a one- to two-page overview, presenting the key points of the overall Business Plan. Address all sections of the plan in Summary fashion. This should include a key point from every section in the plan.
* Note: the Executive Summary is the first section in your paper, but it is the last section you will write. This works best because the Executive Summary provides an overview of your entire Business Plan.
IMPACT PLAN
o Impact metrics are important measures for a non-profit organization. Describe your organizational goals in terms of the impact your activities will have on the local community.
§ Resource: 10 SMART Goals Examples for Small Businesses (with Template):
https://fitsmallbusiness.com/smart-goals-examples/
o Who are potential partners and what do they bring to the organization to help achieve your goals?
o How fast will you grow?
o Where do you believe you can expand your business? (i.e., geographic areas, new markets) o How do you believe you can expand your business? (i.e., additional products and services, mergers, new industries, etc.)
LEADERSHIP TEAM and KEY ROLES
o Identify the number and desired backgrounds of the Directors you plan to have on the Board of Directors.
o Provide a list of the key management roles.
§ Resource: https://www.onetonline.org/ o For each key role, define the job requirements for the role.
Note: Review your Organizational Chart, in Section II of your Plan, to be sure it is compatible and consistent with your key management roles in this Section.
MARKETING PLAN
o Provide a detailed marketing plan. Be sure to include your Nonprofit Marketing Goals and Priorities, as well as your Key Message. To learn more about this topic, refer to the Nonprofit Marketing Plan Example document in your Assignment 3 Resources.
o In your plan, show how you will incorporate “The Four Ps of Marketing.” For information on this concept, refer to The Four Ps of Marketing document in your Assignment 3 Resources.
* * * * * * * * * * * * * * * * * * * *
FINAL BUSINESS PLAN OUTLINE
Your deliverable for Assignment 3 is your Final Business Plan. The chart below shows how the sections created in all your assignments for this course fit together to create your Final Business Plan.
FINAL BUSINESS PLAN OUTLINE
Option A –
INTRAPRENEUR Option B –
ENTREPRENEUR Option C –
NONPROFIT CONTENT created in:
I. Executive Summary* I. Executive Summary* I. Executive Summary* Assignment 3
II. Company Description II. Company Description II. Organization Description Assignment 1
III. New Product or Service Description III. New Product or Service Description III. New Product or Service
Idea Assignment 1
IV. SWOT Analysis IV. SWOT Analysis IV. SWOT Analysis Assignment 1
V. New Concept Launch Strategy V. New Business Launch Strategy V. Nonprofit Launch Strategy Assignment 2
VI. Impact on the Business Model VI. Business Model VI. Organizational Structure Assignment 2
VII. Revenue Streams VII. Revenue Streams VII. Operational Strategy Assignment 2
VIII. Financial Structure and Costs VIII. Financial Structure and Costs VIII. Financial and Fundraising Plan Assignment 2
IX. Growth Strategy IX. Growth Strategy IX. Impact Plan Assignment 3
X. Management Team and Key Roles X. Management Team and Key Roles X. Leadership Team and Key Roles Assignment 3
XI. Marketing Plan XI. Marketing Plan XI. Marketing Plan Assignment 3
DELIVERABLE INSTRUCTIONS
Assembling Your Final Business Plan
Your deliverable for Assignment 3 is your Final Business Plan. It will include content from Assignments 1 and 2, with revisions based on your professor’s feedback, as well as new content from Assignment 3.
After writing the sections described above for Assignment 3, you do not need to submit them for review before finalizing your overall Business Plan. Proceed directly to assemble your Final Business Plan, which includes content you have created throughout this course.
Download and use the applicable Business Plan Template in your course shell to pull together all your work into one final business plan for your new venture.
Note: Use the Final Business Plan Outline chart above to check that you have included all the required sections, in the correct order, in your submission.
FORMATTING REQUIREMENTS
§ Submit your work as a Word document with page numbers.
§ Typed, double-spaced, using Ariel or Times New Roman font (size 11 or 12) with one-inch margins on all sides. Add page numbers. Check with your professor for any additional instructions.
§ Visuals such as Spreadsheets, Income Statements, Organizational Charts, and your SWOT Analysis may be included in the body of your document or placed at the end of your document in Appendices (i.e., Appendix A, Appendix B, etc.)
§ Include a Cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date
§ Use in-text citations with a References page to identify your sources. References must follow the format from the JWMI Writing Standards Guide.
Rubric: Assignment 3: New Venture – Final Business Plan
CRITERIA Honors High Pass Pass Low Pass Unsatisfactory
1. Write a one page Executive Summary that
outlines all key points and addresses all sections of the Business Plan.
Weight: 15%
Wrote an exemplary, succinct Executive Summary that addressed all key points and sections of the Business Plan.
Wrote a thorough and clear
Executive Summary that addressed all key points and sections of the
Business Plan.
Wrote a satisfactory Executive Summary that addressed all key points and sections of the
Business Plan.
Wrote a partial
Executive Summary that addressed some key points and sections of the Business Plan.
Did not submit or wrote an incomplete Executive Summary. Did not
address all key points and sections of the Business Plan.
2. Describe in detail your
Growth Strategy (A or B) or Impact Plan (C). Respond to all prompts for your Option.
Weight: 25%
Exemplarily described the indicated item
and responded to
all prompts. Excellent detail covering all required elements.
Thoroughly described the indicated item and responded to all prompts. Good detail covering all required elements.
Satisfactorily described the indicated item and responded to
all prompts.
Partially described the indicated item and responded to some of the prompts.
Did not describe or incompletely described the indicated item and did not respond to all prompts.
3. List key
management
roles and the requirements for each role.
Weight: 15%
Listed all key management
roles and provided an exemplary description of the requirements for each role.
Listed all key management
roles and provided a good, thorough description of the requirements for each role.
Listed all key management
roles and provided a satisfactory description of the requirements for each role.
Partially listed
key management
roles and partially described the requirements for each role.
Did not submit or incompletely
listed
key management
roles. Did not or incompletely described the requirements for each role.
4. Provide a detailed marketing plan. Show how you
will incorporate The 4 P’s of Marketing into your marketing plan.
Weight: 25%
Provided an exemplary marketing plan. Showed
excellently how The 4 P’s of Marketing would be incorporated into the plan.
Provided a good, thorough marketing plan. Showed very well how The 4 P’s of Marketing would be incorporated into the plan.
Provided a satisfactory marketing plan. Showed clearly how The 4 P’s of Marketing would be incorporated into the plan.
Provided a partial marketing plan. Showed minimally how The 4 P’s of Marketing would be incorporated into the plan.
Did not provide a detailed marketing plan. Did not show how
The 4 P’s of Marketing would be incorporated into the plan.
CRITERIA Honors High Pass Pass Low Pass Unsatisfactory
5. Include all relevant content from Game Plan and Launch Plan, incorporating revisions
recommended by your professor.
Weight: 10%
Exemplary use of all relevant content from Game Plan and Launch Plan, incorporating fully all revisions
recommended by your professor.
Thoroughly
included all relevant content from Game Plan and Launch Plan,
incorporating
most revisions recommended by your professor.
Satisfactorily included all relevant main content from Game Plan and Launch Plan, incorporating some revisions recommended by your professor.
Partially included relevant content from Game Plan and Launch Plan. Partially incorporated
revisions
recommended by your professor.
Did not include or incompletely included relevant content from
Game Plan and Launch Plan. Did not incorporate revisions
recommended by your professor.
6. Clarity, logic, and writing mechanics.
Weight: 10%
No mechanical
errors; text flows and concisely and clearly expresses the student’s position in an exemplary manner that rationally and logically develops the topics.
Few mechanical errors; text flows and concisely and clearly expresses the student’s position in a manner that rationally and
logically develops the topics.
More than a few mechanical
errors; text flows but lacks conciseness or
clarity;
assertions and conclusions are generally justified and explained.
Several mechanical errors make parts of the text
difficult for the reader to understand; the text does not flow or the discussion fails to justify
conclusions and assertions
Multiple mechanical errors or much of the text is difficult to
understand and
fails to follow formatting instructions.
The text does not flow.