Assignment 2: Business Plan Part II – Competitive Analysis and Strategic Assessment
Due Week 7 and worth 230 points
Note: Refer to scenarios and reading assignments from previous weeks to complete this assignment.
In Part I of your business plan, you explored a business opportunity for your company. You identified your business model, formulated your feasibility statement, and evaluated your data. In Part II, you will conduct a competitive analysis and strategic assessment of the proposed venture, balancing the possible risks and opportunities your company will face. In addition, you will provide the financial requirements for the venture capital group to evaluate.
Write a seven to eight (7-8) page paper in which you:
Conduct a competitive analysis in which you explain the sources of competition, the strengths of your competitors’ companies, and the other factors affecting your ability to compete.
Provide at least three (3) strategies and three (3) marketing tactics for attracting first-time customers.
Determine three to five (3-5) kinds of strategic positions that are available to you for your business plan. Next, determine the types of opportunities the strategic positions bring to your business both internally and externally.
Determine the key types of risks your business opportunity will face both internally and externally. Provide strategies to mitigate these risks.
Assess the different sources of funding available for funding entrepreneurial ventures in terms of the possible value they can bring to your venture. Next, explain the funding strategy your venture will undertake.
Create a report of operating costs required for your product or service venture, using the PlanningShop’s Business Plan Financial package. Note: The PlanningShop’s Business Plan Financial package can be found in the Student Center of the online course shell.
Prepare a break-even analysis in which you explain the report you created to the venture capital group.
Use at least three (3) quality resources in this assignment.Note: Wikipedia and similar Websites do not qualify as quality resources.
Your assignment must follow these formatting requirements:
Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
Examine the creativity and business idea process, and the materialization of domestic and foreign market entry opportunities.
Analyze the financial planning process for a new venture.
Analyze the process of protecting the new venture idea and legitimizing it through a formalized business plan.
Analyze different sources of capital to determine the appropriate financing for a business venture.
Examine the marketing planning process for new ventures.
Use technology and information resources to research issues in entrepreneurship and innovation.
Write clearly and concisely about entrepreneurship and innovation using proper writing mechanics.