BUSINESS PLAN PROJECT

PART 1:INTRODUCING THE CONTEMPORARY BUSINESS WORLD

Mindy with her 3 college friends decided to run a business. All of them agreed to make a business plan. Their business plan need to have the following information:

Business Name

What is the name of business?

Description of Business

What will business do?

Form of Business Ownership

What form of business ownership (sole proprietorship, partnership, or corporation) will business take? Why is this form ideal?

Ideal Customer

Briefly describe your ideal customer. What are they like in terms of age, income level, and so on?

Our Advantages

Why will customers choose to buy from this business, instead of competitors?

Ethical Issues

All businesses have to deal with ethical issues. One way to address these issues is by code of ethics. List three core (unchanging) principles that this business will follow.

Social Responsibility

A business shows social responsibility by respecting all of its stakeholders. What steps will you take to make business socially responsible?

Global Issues

Do you think that this business can sell product in another country? If so, in what countries, and why? What challenges will the business face?

Mission Statement

A brief mission statement for the business

Business Goals

Consider the goals for your business. What are three business goals for the first year? What are two intermediate two long-term goals?

SWOT Analysis

A basic SWOT analysis for this business, listing its main strengths, weaknesses, opportunities, and threats.

Management

Who will manage the business?

Organization Chart

how will the "team" fits together with the help of a simple organizational chart for your business. The organizational chart indicates who will work for each manager as well as each person's job title.

Please help Mindy and her friends to draft an effective business plan using the given hints.