Business Plan Course Description For Guided Student Research

Business Planrtfdtxtrtfcourse Descriptionguided Student Research

business plan.rtfd/TXT.rtf COURSE DESCRIPTION Guided student research in business administration; application of analytical or research techniques to business problems. COURSE OBJECTIVES As with many of the other courses within the BSB curriculum, this course further reinforces the development of writing and presentation skills, but also builds upon the competencies attained in project management whereby the student rather than the instructor drives the time schedule and must coordinate their own unique set of resources, including scheduling time as needed with the supervising instructor. REQUIREMENTS Requirements for this course will vary depending upon the nature of the research project and the number of credit hours a student is enrolled.

Research projects are unlimited in scope and have included at other PSU campuses: Development of business plan to open a restaurant in Uniontown Development of business plan to start an antique business Website/Tool Go to the website, click on the graphic in the top center of the page (it is often a picture of light bulbs), then on the side you will see a banner with the words, “Your Course of Action:” in it. Under that will be a series of buttons, click on “Plan” and you will be led to a page that has a link “A template-based, interactive business planning tool. (PitchThenPlan).” Click on the link. You will have to then register to use the tool. If you have difficulty you can call the Kutztown University Small Business Development office.

You may also be able to access PitchThenPlan at PitchThenPlan.com Business Plan Outline The body of the business plan can be divided into 3 distinct sections: 1) the Pitch, 2) the Plan, and 3) the financial management plan. "PitchThenPlan™" is a comprehensive business development tool. While everything is clear, concise, and easy to use, you will probably have some questions. Please feel free to visit me in my office to go over any problems, questions, and ideas that you may have.

Business Plan: Organization Name Your Name Your Title Contact Information

Paper For Above instruction

The process of developing a comprehensive business plan is essential for entrepreneurs seeking to establish a new venture or expand an existing one. The structure of a business plan, particularly the division into the Pitch, the Plan, and the Financial Management Plan, provides a systematic approach to articulating a business idea, its market potential, operational processes, and financial projections. This paper explores each of these core sections, emphasizing their importance, composition, and strategic relevance.

The first section, the Pitch, functions as a compelling elevator speech that captures the essence of the business idea. It communicates the opportunity identified, emphasizing how the business will make life easier, better, or enable new possibilities for customers. For example, a business that offers a software tool that consolidates travel offers speaks directly to customer pain points such as time and confusion, providing a unique and motivating narrative. The pitch must be concise, engaging, and aligned with market needs to attract interest from investors, partners, and other stakeholders.

The second section, the Business Model or the Plan, delves into the purpose and operational rationale behind the business. It starts with articulating the "big idea" or opportunity, establishing the problem or gap that exists in the market. The purpose of the business is defined beyond profit, focusing on the value it provides to customers and the societal or market needs it addresses. For instance, an online discount travel website aims to streamline travel planning and save time for busy travelers, which encapsulates a core value proposition.

Next, the plan discusses target customers—demographics, behaviors, and needs—and analyzes the competitive landscape. A thorough competitor analysis involves identifying three to four main competitors, understanding their story, strengths, and weaknesses, and articulating how the proposed business differentiates itself. The messaging component involves defining a clear, simple, and credible message that resonates with the target audience, often involving emotional or story-driven communication to enhance memorability and impact.

The sales approach outlines how the business intends to reach its customers effectively and efficiently. Market entry strategies could include digital marketing, trade shows, direct mail, or partnerships, depending on the product or service. The internal workings describe the operational setup: location, facilities, staffing needs, production or service delivery processes, and key resources involved in day-to-day operations.

The management team section highlights the key personnel responsible for driving the business forward, emphasizing their expertise in production, marketing, and finance. It also mentions any advisory boards, external consultants, or professional service providers such as lawyers and accountants. This segment underscores the importance of a strong, well-rounded team that can execute the business plan confidently.

The financial forecast provides a realistic overview of startup costs and projected revenues for the first year. Estimations include major categories such as personnel, equipment, rental space, marketing, and operational expenses. Revenue projections are based on anticipated sales volumes and prices. The financial section aims to demonstrate that the entrepreneur understands the financial requirements and potential for sustainability or growth.

The final segment, the next steps, involves outlining a clear timeline of the critical tasks needed in the upcoming months to establish the business successfully. These could include securing funding, finalizing location, hiring staff, or launching marketing campaigns. Large strategic goals for the next two to three years should also be articulated, defining success milestones and growth objectives.

In sum, a business plan structured around these core components provides a comprehensive blueprint to guide operational execution, attract investors, and realize business ambitions. Utilizing tools like PitchThenPlan enhances clarity and professionalism, ensuring that each section effectively communicates the business's value, strategy, and financial viability.

References

• Kuratko, D. F., & Hodgetts, R. M. (2015). Entrepreneurship: Theory, Process, and Practice. Cengage Learning.
• Scarborough, N. M. (2015). Essentials of Entrepreneurship and Small Business Management. Pearson.
• Muzyka, D. (2014). Small Business Management. McGraw-Hill Education.
• Peters, M. (2020). How to Write a Business Plan. Entrepreneur Media.
• Levie, J., & Lichtenstein, B. M. (2014). The entrepreneurial business model. Journal of Business Venturing, 29(1), 15-30.
• Ries, E. (2011). The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses. Crown Business.
• Osterwalder, A., & Pigneur, Y. (2010). Business Model Generation. Wiley.
• Baron, R. A. (2016). Entrepreneurship: successfully launching new ventures. Pearson.
• Hisrich, R., Peters, M., & Shepherd, D. (2017). Entrepreneurship. McGraw-Hill Education.
• Shane, S. (2008). The visited world: Learning from the entrepreneurial process. Journal of Business Venturing, 23(4), 331-334.