Develop a business plan
GuidelinesFor Developing a Business Plan
Business plans are business communications rather than an academic paper. The purpose of such communications is to provide the basis for business
decisions. The reward here is for being concise and precise. This is not the place to show all that you have learned in your MBA program. Use what
you have learned to choose the most critical information to include. The more clearly the business plan can be written, the more effective they will
Business plans are used to acquire capital and to guide the operation. For these reasons, keys to a successful plan are in substantiating the
viability of the venture. A business plan includes a clear statement of the nature of a business venture, the business opportunity, the steps to be
taken to capitalize on the opportunity, and the financial requirements. Research in this option is primarily in quantifying the opportunity and the
competitive situation. When used to acquire capital, the business plan must create a clear, coherent, persuasive argument on behalf of the business.
When used to guide the operation, the plan must also be clear and coherent as it provides specific guidance for the business.
The Business Plan format provides an opportunity for students to develop an actual, workable business plan for a new business or existing company.