Reference no: EM132702862

Scenario and activity:

You have an exciting entrepreneurial idea and you are in a position to turn that idea into a small business venture. You need to create a persuasive Business Plan that you can present to potential investors to convince them of the viability of your venture with a view to receiving the funding you will require.

Your business plan will include:

1. A business proposal in which you introduce your business idea and motivation to pursue it.

2. Identify the target market; apply methods to analyse the competitive environment; determine the resources required; overall generic strategy (low cost or differentiation strategy) discuss strengths, weaknesses and areas of risk; and develop a contingency plan that minimises risk.

3. Conduct an external competitive analysis.

4. An assessment of the skills and capabilities required in which you assess how they can be acquired or developed and discuss the associated costs and timescales involved.

5. A consideration of your promotional activities plan to support the pre- and postlaunch phases of your launch, justified with a critical evaluation of the chosen activities.