Entrepreneurship & Intrapreneurship Unit 5 IP

Part 1

Based on the work that you have done this term, complete the following sections for your venture’s business plan:

  • Mission statement
  • Vision statement
  • The product or service
    • What is your product or service, and how does it work? How does it benefit customers? How do you make it or how will you get it made?
  • Market opportunity
    • What is your market? Include geographic descriptions, target demographics, and company profiles (if you’re B2B). In short: Who are your customers?
    • Why do customers need and why will they be willing to purchase your products and services?
    • How will you price your products and services? Will you be the low cost provider or provide value-added services at higher prices?
    • Is your market likely to grow? How much? Why?
    • How can you increase your market share over time?
    • What is the size of your intended market? What is the population and spending habits and levels?
    • What segment of your market will you focus on? What niche will you attempt to carve out? What percentage of that market do you hope to penetrate and acquire?
  • Competitive environment
    • Analysis of your competition
      • identifying competitors and gauging their business and marketing strategies to understand both their strengths and weaknesses and those of your own business.
      • An overview or what you know about them
      • Who their target customers are
      • A list of their products or services
      • What media they use to market their goods and services
      • Their current and past marketing strategies
      • Their value proposition and effectiveness
      • An analysis of all of the strengths and weaknesses of your competition (and your own company)
      • A list of your main competitors
  • Statement of ethics
  • Statement of social responsibility

Take the written assignments provided and convert them into the required sections.

Note: Each section should be no more than 1,500 words; however, the following are some limitations:

  • Your mission statement should be 1 paragraph maximum.
  • Your vision statement should be 1 paragraph maximum.
  • Your product or service description should be around 1,000 words.
  • Your market opportunity and competitive environment sections should be no more than 1,500 words.
  • Your statement of ethics should be no more than 2 paragraphs.
  • Your statement of social responsibility should be no more than 2 paragraphs.

Part 2

  • Use the business plan template i will provide, and customize it for the venture. Include the venture’s name, logo, and contact information. Fill in those sections that pertain to the work to be done in this assignment.

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