Business 12th Edition by William Pride,Robert Hughes,Jack Kapoor

Exercise 4

BUILDING TEAM SKILLS
A business plan is a written statement that documents the nature of a business and how that business intends to achieve its goals. Although entrepreneurs should prepare a business plan before starting a business, the plan also serves as an effective guide later on. The plan should concisely describe the business's mission, the amount of capital it requires, its target market, competition, resources, production plan, marketing plan, organizational plan, assessment of risk, and financial plan.
Assignment
1. Working in a team of four students, identify a company in your community that would benefit from using a business plan, or create a scenario in which a hypothetical entrepreneur wants to start a business.
2. Using the resources of the library or the Internet and/or interviews with business owners, write a business plan incorporating the information in Table 5.3.

3. Present your business plan to the class.