Business Plan

by | Mar 22, 2023 | BUSINESS ETHICS

 

 

 

 

 

1. Stakeholder Analysis

a. Actual personal experience, education and training in the area/ industry of proposed business for all key stakeholders

2. Industry Analysis

a. A brief overview and long-term outlook for growth

b. Review industry size, trends, and target market segment.

c. Identify who leads the industry in terms of:

i. Price

ii. Quality

iii. Market share

3. Competitive Analysis

a. Discuss the strengths and weaknesses of each primary competitor.

b. Consider sales, quality, distribution, price, production capabilities, reputation, and products/services.

c. Outline how your product or service measures in the area of pricing and identify your competitive advantage.

d. Prepare a first-year and 3-year sales forecast in dollars and units.

e. Briefly outline your sales and advertising plans.

Sample Solution

Stakeholder Analysis is a process used to identify and analyze the key stakeholders in any given situation. It helps to understand their interests, needs and values so that effective strategies can be designed to ensure the best possible outcome for everyone involved. The analysis should consider the actual personal experience, education and training of all key stakeholders as well as their current role within the proposed business. This will help determine which areas they may need additional support or development in order to effectively contribute towards reaching organizational goals.

Sample Solution

Stakeholder Analysis is a process used to identify and analyze the key stakeholders in any given situation. It helps to understand their interests, needs and values so that effective strategies can be designed to ensure the best possible outcome for everyone involved. The analysis should consider the actual personal experience, education and training of all key stakeholders as well as their current role within the proposed business. This will help determine which areas they may need additional support or development in order to effectively contribute towards reaching organizational goals.

Industry Analysis involves researching and understanding different aspects of an industry such as its size, trends and target market segment. It also focuses on who leads the industry with regard to price, quality and market share by looking at competitors’ sales figures, production capabilities, reputation and products/services offered. By comparing this data against your own product or service offering you can create a competitive advantage based on pricing or other factors that set you apart from others in the industry. A first-year and 3-year sales forecast should also be outlined along with plans for advertising/promotion of your product or service in order to maximize growth potential over time.

Competitive Analysis looks deeper into each primary competitor’s strengths/weaknesses as well as their sales figures compared against yours in order to form an effective strategy going forward. Additionally it is important to establish an action plan detailing how your product or service measures up in terms of pricing when compared against these rivals In conclusion Stakeholder & Industry Analysis provide great insight into understanding all relevant players & conditions needed make informed decisions regarding future direction organization

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