Loading...

Module 06 Business Plan Project - Final Business Plan/Executive Summary


Open Posted By: jamesanderson Date: 15/08/2020 Academic Level: High School Paper Type: Report Writing

USE ATTCHMENS TO COMPLETE THIS ASSIGNMENT!!!!



Every week throughout this course you have created a section of your business plan. It is now time to combine every element, which will be completed in two parts.



 Step 1 - Executive Summary
An executive summary is comprised of key points of your business plan. Your executive summary should be no more than 2 pages and include:


The name of your business


 Where your business will be located


The mission of your business


The product or service you are selling


Who your ideal customers are


How your product or business will stand out in the crowd


Who the owners of the business are and what experience they have


An overview of the future prospects for your business and industry


An overview of the amount and uses of required initial financing



Step 2 - Final Business Plan
Your final submission should incorporate suggestions and feedback from previous submissions and include the following: 


1. A cover sheet that includes:     


Basic company information (name, address, phone number, and web address)


The company logo


Contact information of the owner(s) and any officers (name, titles, addresses, phone numbers, and e-mail addresses)


The date the business plan was created


The name(s) of those who prepared the plan


2. A Table of Contents 


3. Business plan in the following order:     


Executive Summary

Table of Contents

Company Information

Industry Analysis

Market Analysis

Strategic Plan

Financial Plan


Use clear, concise, complete sentences, transitions between paragraphs, standard spelling, grammar, and punctuation as expected in a professional business plan.


Category: Accounting & Finance Subjects: Finance Deadline: 12 Hours Budget: $80 - $120 Pages: 2-3 Pages (Short Assignment)

Attachment 1

Rwheeler_Income_statement_110617.xlsx

Sheet1

Income statement
For the year ended Decemebr 31, 2017
Revenue $7280000
Less: Expenses
contigency cost $1000000
Recurrent expenses $200000
Internet $178600
Utility charges $100000
project and subcription fee $21400
Rent and licenses $500000
Total expenses ($2000000)
Net earnings $5280000

Sheet2

Rwheeler_Balancesheet_110617.xlsx

Sheet1

Balance sheet
As at December 31, 2017
Fixed assets Liabilities
Furniture $200000 Creditors $500000
Computer $10000
Scanner $900
Pritnters $1200
Fax machine $500
Soft wares $20000
cell phones $8000
total fixed assets $240600
current Assets
cash $20000
inventory $150000
Account receivables $50000
other assets $39400
Total assets $500,000 Total liabiliites $500,000

Attachment 2

Running head: INDUSTRY ANALYSIS 1

INDUSTRY ANALYSIS 5

Market Analysis and Promotion Strategy

Name: Rodney Wheeler

Institution: Rasmussen College

Course: B324/ENT3281 Section 01 Business Innovation: Best Practices in New Business Development

Date: 10/20/17

Market Analysis and Promotion Strategy

Target Market

The target market of Access Point Consultancy is mainly start-ups aged not more than five years. The institutions targeted are governmental and non-governmental, profit-making as well nonprofit making organizations. Start-ups are important to Access Point Consultancy because one of their main objectives is to minimize costs while venturing into their respective industries. Access Point Consultancy seeks to help them achieve this through the discounted costs approach.

Top Competitors

The main competitors are PriceWaterHouseCoopers (PwC), Ipsos Synovate and Deloitte Consulting. Access Point plans to use the gap left by these giant consultants in providing services to start-ups especially middle and low-income start-ups. The three have a long presence in the market, strong clientele base as well as market preference over other consultancy firms.

PwC strengths are large client base many of which are repeat clients, product diversification, not just financial services and an expansive geographical coverage in more than 150 countries (BrandGuide (2008). These gives PwC a big market share and the ability to overcome threats. Weaknesses perceived are work related controversies and allegations which barred the brand image at times, stiff competition from other leading players which restricts PwC’s market share and the brand is a detractor in most markets especially the middle market. PwC is still yet unable to use the opportunities in the market to combat these issues and thus they remain to be their weaknesses.

Swotanalysis24 (2017) points out to the strengths of Ipsos Synovate as: skilled workforce, domestic as well as foreign market and experienced business units. These are deemed to be strengths because the company has been able to take advantage of them and stay healthy in the industry. The weaknesses of Ipsos include among others small business units, disparager of some market segments and high cost services. These are deemed to be weaknesses because Ipsos has not done anything so far to include the markets belittled and their most middle and low-income clients shy away from going to them due to high price quotations.

The strengths perceived of Deloitte are a strong client base, huge revenues which give the potential of acquiring smaller competitors and expansive outreach. The weaknesses, similar to Ipsos and PwC include belittling some market segments, high price quotations and specialization in only business and IT consultancy. These are deemed to be weaknesses as they will provide a niche for Access Point to successfully build a remarkable position in the market.

Access point Consultancy will take advantage of the three competitors’ weaknesses by focusing mainly on the start-ups, which contribute a greater percentage of the market share detracted by these big companies. Moreover, offering diversified service will help the company combat the competitors’ strengths. Focus on reduced or discounted prices will also combat these strengths by earning Access Point a bigger market share among the neglected sector.

Service Features

The three main features of the service packages offered by Access Point are timely provision of data and reports, discounted prices and customer-tailored packages. Timely provision of data and reports will help customers have more duration to analyze the information provide for real-time decision making. Discounted prices will lower the costs incurred by customers thus saving them more for other operations. Customer-tailored packages will ensure that clients get what they want, even if Access Point views it to be not a need. Access Point services will be differentiated in terms of low costs and inclusivity of the middle and low-income earners.

Pricing Strategy

Access Point prefers a penetration pricing strategy. According to Stokes & Lomax (2008), penetration pricing helps create a customer base faster since low products attract customers as they are always price sensitive, especially when finances are a constraint. This strategy was selected because it will create a loyal customer base which will be hard to lose even on increasing prices a little bit. Our service packages will be priced depending on the requirements of clients, but with utmost consideration of the clients stand in their market or their financial wellbeing.

Sales and promotion

An online distribution channel will be adopted for the distribution of services offered by Access Points. Organic and paid for search engines as well as online ad campaigns will be used to reach out to customers. With the increased use of the internet in recent times, this provides the best way to reach out to millions of potential clients all over the world.

Social media networks, television and online ads will be the main promotion strategies. These are critical as they will help reach out to a huge market. Moreover, there has been notable increase in use of social media platforms for business related issues in the past few years (Humphreys & Wilken, 2015).

References

BrandGuide (2008). PwCPricewaterhouseCoopers SWOT Analysis, USP & Competitors. Retrieved October 20, 2017 from http://www.mbaskool.com/brandguide/management-and-consulting/4354-pwc-pricewaterhousecoopers.html

Humphreys, L., & Wilken, R. (2015). Social media, small businesses, and the control of information. Information, Communication & Society, 18(3), 295-309.

Swotanalysis24 (2017). Ipsos SA SWOT Analysis –Strengths, Weaknesses, Opportunities, Threats of Ipsos SA. Retrieved October 20, 2017 from https://www.swotanalysis24.com/swot-i/56729-swot-analysis-ipsos-sa.html

Stokes, D. & Lomax, W. (2008). Marketing: a brief introduction. Australia: Thomson.

Attachment 3

Running head: INDUSTRY ANALYSIS

INDUSTRY ANALYSIS 5

Industry Analysis

Name: Rodney Wheeler

Institution: Rasmussen College

Course: B324/ENT3281 Section 01 Business Innovation: Best Practices in New Business Development

Date: 10/12/17

The consulting industry has been growing with time. It has become a business that is being developed by many people. For example, the US consulting industry in the year 2016 received a growth of 7.1% which made it attain a value of $58.72 billion. This means that there has been a great transformation in the consulting industry that played a big role in the growth that it made. They have been trying to change their brands by increasing their skills in digital and design services. In addition to that, they have been coming up with creative division’s access the digital agencies. The trends that have been happening in consultancy industry have been positive. Based on the research that has been done by the U.S Department of Labor and Statistics, the consulting industry in the US is responsible for a lot of jobs (Bernan, 2008). In addition to that, the research also indicated that the whole industry offers about 50% of the accounting services. This shows that the industry has grown with a big margin hence helps in generating revenue. Consulting industry has also adopted the trend of providing cloud-based solutions that offer a number of services to the clients through a single platform.

There are some statistics that prove the growth of the consulting industry. In 2013, the consulting industry generated $ 415 billion. Based on the fact that the trend of the consulting industry has been positive based on the growth, it was expected to grow to over $350 billion globally and by $175 in the United States alone. Another trend is that most economies are extending into the consulting industry. There is also the growth in the freelance based consulting model. Therefore, such freelance based consultants will obtain their work via online portals which will connect them with their interested clients as well as other people who need consultant’s services. Basically, in 2017, the industry is expected to grow potentially and also to increase the profit margin (Plunkett, 2017). The role of the consulting industry is changing, driven by clients, employees as well as technology which has encouraged the freelance consultancy. There is a possibility of boundless expansion of the consulting industry this year.

References

Bernan. (2008). Career guide to industries. Washington, D.C: U.S. Dept. of Labor, Bureau of Labor Statistics.

Galal, K. (2014). Strategic positioning in the consulting industry: an emperical analysis of strategic groups and performance. Lohmar: Eul-Verl.

Plunkett, J. (2017). Plunkett's Consulting Industry Almanac 2017: Consulting Industry Market Research, Statistics, Trends & Leading Companies. Place of publication not identified: Plunkett Research, Limited Plunkett Research, Ltd.

Attachment 4

Running head: COMPANY DESCRIPTION 1

COMPANY DESCRIPTION 5

Company Description

Name: Rodney Wheeler

Institution: Rasmussen College

Course: B324/ENT3281 Section 01 Business Innovation: Best Practices in New Business Development

Date: 10/08/17

Company Description

Business Name: Access Point Consultancy.

Reason behind the name

The business name comes from the term Access which means acquire and Point which means a fact or showing a sense of direction. The name is a general description of the business objective which is to acquire facts for the clients.

How the business will benefit from this name

The name is easy to remember as it relates directly to type of services provided by the business; it has a memorable impact on the minds of potential clients.

Nature of the business

The business will be a Limited Liability Company that gives the business a hybrid business entity. It will be a flexible business that can own property and carry its own operations solely.

What the business will do

The business will be a consultant firm which will capitalize on networking as it tries to address various service gaps across all industries dealing with statistics. Services will be offered using approaches such as; investigation, which includes speculation of the quality of existing data and information; consulting, which entails an integrated field service management (FSM) system that allow us to connect, collect, analyze and centralize data.

Product and Services

The business will offer access to valuable and credible socio-economic statistical data and information in the following fields; demography, physiography, physical development, industries and the economy. Services to be offered include data collection, analysis and interpretations.

Why the service is special

The services offered will be of high standards that help organizations and institutions make evidence-based decisions. The firm will also provide recent statistical data at all time.

Opportunity Niche

There is a large open market in the research industry pertaining data and information. Most of the large corporate firms and federal agencies prefer to collect and analyze their own firsthand data whereas others prefer to outsource external services. This is the market opportunity that this business majors on; carrying out research on behalf of other institutions, organizations or businesses. There are thousands of companies in the nation, both local and foreign that conduct research and analysis. These companies require updated market and industry analysis to improve their operations. This business will address this market gap.

Why choose Access Point

Access Point consultancy ensures high quality of data and information that is well generated by highly skilled personnel and advanced technology. The business embraces new technology and innovation in the research and analysis field. There are multiple networks in private, corporate and government organizations and finally services are offered at a 10% discount of the total estimated cost.

Company Advantages

i. Availability: The business will offer full time services to ensure that the desired information is researched and processed efficiently and effectively for the clients.

ii. Data reliability: This will be achieved by making use of new technology that improves on accuracy. The data will also be updated on a regular basis.

Competitive advantage

This will be the only company that offers exceptional research services at a discounted cost attracting a large market share.

References

Cody, T., Hopkins, D., Perlman, L. & Kalteux, L. (2007). Guide to limited liability companies. Chicago, IL: CCH.

Goldstein, B., Dyson, L. & Nemani, A. (2013). Beyond transparency: open data and the future of civic innovation. San Francisco, Calif: Code for America Press.