For this assignment you will develop a business plan outline and a written executive summary of the key concepts of the business plan. Your target for this assignment is the Company you identified in the Business Plan Development assignment. You are not actually creating the video submission in this assignment, but you are creating the content you will present in your final presentation video.
Listed below are the typical elements that are found in most simple business plans. Each section expresses details that are important to the plan and its goals and objectives as they relate to the overall growth of the organization. Some business plans focus on niche opportunities or special projects. Some are for the firm as a whole. In most cases the Executive Summary is developed after the full plan is completed and is used to bring all areas of the organization on board with the plan and how it will be achieved.
Your objective is to create a niche element for the company you have identified and develop a simple business plan using these headings.
For example: Southwest Airlines is a key employer based in Dallas. They fly to Hawaii and an interesting niche business plan might be to develop more of a first class approach for flyers on this route. Listed below are some of the elements that would be important to developing this business plan. From them you can develop a 3 to 5 minute presentation of an Executive Summary of the plan. Your objective is to do the same for the company you have selected, and the business plan idea you have created.
fo example;
SOUTHWEST AIRLINES – HawaiiCLASS
Notes
Executive Summary
Current Marketing Situation
SWA has connecting flights to Hawaii that are served from Dallas and other major cities. The flight to Hawaii is like most others, crowded and at capacity.
Market Description
Price sensitive
Product Review
Competitive Review
United, Delta, and American are the major domestic competitors
Distribution Review
SWOT
Strengths
Weaknesses
Opportunities
Threats
Objectives and Issues
Develop a first class flight at a lower cost.
Marketing Strategy
Positioning
Product Strategy
Reduce number of seats in the plane for comfort and atmosphere
Pricing Strategy
Not the most expensive and not the cheapest
Distribution Strategy
Offer prime flights to frequent SWA customers
Communications Strategy
Frequent flyer emails, terminal displays, in flight marketing and corrependence
Marketing Research
Internal data and competition data
Marketing Organization
Action Programs Metrics
1st Quarter/Year
Offer flights to preferred customers
2nd Quarter/Year
Measure sales data
3rd Quarter/Year
Expand offering to full market
4th Quarter/Year
Increase number of flights to Hawaii
Pro Forma Budgets/Financials
Additional Controls
For this assignment complete a similar chart and then write an Executive Summary of the idea. You will video your presentation of the Executive Summary in the final assignment
