Capstone Milestone #2 – development of a business plan

Capstone Milestone #2 – development of a business plan

Type of document           Essay     Number of pages/words              3 Pages Double Spaced (approx 275 words per page)

Subject area       Business              Academic Level High School

Style      APA       Number of sources/references 3

Order description:

Introduction and Purpose of Assignment

This week continues the development of a business plan that you will work on throughout the class. The final projects of the business plan will include both a presentation and paper. Each milestone is required to be in APA formatting. The final project will include all the weekly milestones along with the additional work required in Week Five. The feedback that you receive from your instructor should be used to revise your weekly submissions before completing the final project.

Evaluating a product is an act of good stewardship. Identifying the process involved in objective evaluation of a product or idea to see if the venture is viable is an important first step. As you work on clearly defining your product or service, you will also identify the target market for your business. As part of this process a SWOT analysis will be completed.

Objectives

  • Evaluate the Strengths-Weaknesses-Opportunities-Threats of your proposed organization through the use of a SWOT analysis. (2.1)
  • Develop the Products and Services section of a business plan. (2.5)
  • Determine a target market. (2.6)

Theory and Context

Businesses are formed in a variety of ways. The idea of “product” does not necessarily mean that you are manufacturing the product. While manufacturing is one option, you can also be a wholesaler or retailer for products. A main part of analyzing the product is evaluating who the target market is, the demand for the product, and if you can supply the product at a price where you can realize a profit.

Resources

Pierce, S. (2005). 5 steps for turning your invention ideas into a product. Entrepreneur. Retrieved from http://www.entrepreneur.com/article/77962

SWOT analysis. (n.d.). Retrieved from https://www.mindtools.com/pages/article/newTMC_05.htm

Instructions

  1. Review, “How to Write a Business Plan.”
  2. For this milestone assignment:
  3. Determine the products and/or services you will be providing in your business.
  4. Define the target market appropriate for the product—service you envision.
  5. Create a SWOT analysis to help with the evaluation of the internal and external advantages and challenges for this business.
  6. The SBA resources will provide a good guide for this project, but the papers developed need to adhere to APA formatting.
  7. Three references are required for each milestone submission.
  8. APA formatting is required.