Q Instructions Module 5: Business Plan Assignment 4 The next step you will take in developing your Business Plan is to complete the competitor analysis (step 10) and the description of the management team (step 11). Remember, in the description of the management team, place your chosen form of ownership and why that form is preferred. Business Plan Elements 1. Title Page and Table of Contents 2. The Executive Summary 3. Mission and Vision Statements 4. Company History (If you are purchasing an existing business or are looking to expand an existing business) 5. Business and Industry Profile 6. Business Strategy 7. Describe the venture’s product or service 8. Marketing Strategy 9. Location and Layout 10. Competitor Analysis 11. Description of Management Team 12. Plan of Operation 13. Financial Statements 14. Loan or Investment Proposal 15. Conclusion Competitor Analysis: A. Existing Competitors 1. Who are they? Create a Competitive Profile Matrix Table 1: Competitive Analysis FACTOR Me Strength Weakness Competitor A Competitor B Importance to Customer Products Price Quality Selection Service Reliability Stability Expertise Company Reputation Location Appearance Sales Method Credit Policies Advertising Image Now, write a short paragraph stating your competitive advantages and disadvantages. 2. Strengths 3. Weaknesses B. Potential Competitors. Companies that might enter the market 1. Who are they? 2. Impact on your business if they enter Management and Organization Who will manage the business on a day-to-day basis? What experience does that person bring to the business? What special or distinctive competencies? Is there a plan for continuation of the business if this person is lost or incapacitated? If you’ll have more than 10 employees, create an organizational chart showing the management hierarchy and who is responsible for key functions. Include position descriptions for key employees. If you are seeking loans or investors, include resumes of owners and key employees. Professional and Advisory Support List the following: • Board of directors • Management advisory board • Attorney • Accountant • Insurance agent • Banker • Consultant or consultants • Mentors and key advisors Submit the assignment to the Assignment box no later than Sunday 11:59 PM EST/EDT. (This Assignment box is linked to Turnitin.) All submissions should be completed using APA formatting and standards.