Reference no: EM132461526 , Length: word count:2500

MGM3115 - Innovation and Entrepreneurship in Tourism and Hospitality - Academies Australasia Polytechnic

Business Plan Report

Assignment Task:

Required:

The short form business plan is the integration of the work done in Assessments 2 and 3. You have already embarked on the idea of a start-up business which is innovative and has a competitive advantage over your competitors. Now, you will need to convince your banker and investors that your business plan will work. In consideration of the time constraints, you are required write a short form business plan which must include key elements divided into several sections.

How to Write a short form Business Plan

Part 1. Vision statement. What are your hopes and dreamsfor the business?

Part 2. Market Analysis. Write an overview of your industry sector. Look at your target market, analyse your competition, project your sales revenue.

Part 3. Competitive Analysis. Who is your competition and how will you differentiate yourself in the marketplace? What is your competitive advantage? Do you have a unique selling proposition (USP).

Part 4. Strategy. What is the growth strategy - how many employees will you hire and what is the distribution strategy?

Part 5. Products and Services. What is the need for your product or services?

Part 6. Marketing and Sales. How will you promote and market your products?

Part 7. Operational plan. How will the team achieve the organisation's goals?

Part 8. Financials. What are your capital requirements and how will it be funded?

Task (Overview):

The concepts and theories of strategic business management will be covered during the semester. There are templates of the short business plan available on the internet - adopt the plan that is the most suitable for your business.

You will create a name brand, and a marketing image to match your target market segment. The plan MUST identify a real market segment and demonstrate an understanding of its needs, wants, willingness and ability to pay for the tourism product/service. The product/service and its proposed distribution/availability must be in congruence with the market segment data. The plan may or may not demonstrate profit potential, your financial assumptions must be ‘realistic' so that it can properly reflect your sales and profit estimates. The plan MUST be unique (not a copy or a plagiarised plan) and must demonstrate how the product or service will penetrate the market and compete with any existing products/services for at least the first 2-3 years.

Task Length: Report of between 1,500- 2,500 words.

Attachment:- Business Plan Report.rar