Q Instructions Module 3: Business Plan Assignment 2 The next step you will take in developing your Business Plan is to complete the Business and Industry Profile (step 5) and the Business Strategy (step 6). 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 Industry Profile and Overview: Industry Analysis-Facts about your industry: • What is the total size of your market? • Key Success Factors • What percent share of the market will you have? (This is important only if you think you will be a major factor in the market.) • Current demand in target market. • Trends in target market—growth trends, trends in consumer preferences, and trends in product development. • Growth potential and opportunity for a business of your size. • What barriers to entry do you face in entering this market with your new company? Some typical barriers are: o High capital costs o High production costs o High marketing costs o Consumer acceptance and brand recognition o Training and skills o Unique technology and patents o Unions o Shipping costs o Tariff barriers and quotas • And of course, how will you overcome the barriers? • How could the following affect your company? o Change in technology o Change in government regulations o Change in the economy o Change in your industry Business Strategy: • Your desired image and position in the market • Company goals and objectives o Operational o Financial • SWOT Analysis o Strengths o Weaknesses o Opportunities o Threats • Competitive Strategy o Cost Leadership o Differentiation o Focus 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.