Before you get started on this assignment, watch the video below for some helpful tips on completing Assignment 3 Part 2.
Drop Water Company
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Assignment 3 Part 2: Business Plan – Draft
Due Week 8 and worth 30 points
This assignment consists of two (2) sections: a draft of your business plan and an income statement containing your business plan financials (i.e. Week 7 Discussion “The Financials”). Note: You must submit both sections as separate files for the completion of this assignment.
You must intend to raise money for your startup company. You can start with money from friends and family but at some point you will need funds from outside investors, either angels or venture capitalists, depending on how much money you project you will need to raise. Another possible angle is to develop money through crowdfunding, assuming your product meets the demand of such audiences.
Before you can raise money, you must develop a business plan that convinces an investor that your company will succeed.
Section 1: Business Plan (MS Word or equivalent)
Read Chapters 18 and 19 of the course text: Successful Business Plan. Use the Plan Preparation Forms at the end of each chapter of Successful Business Plan as a rough guide.
Write an approximately fifteen to twenty (15-20) page draft of your business plan in which you:
1.Revise the components of the following previously submitted sections based on the feedback you have received.a.Company Description (Assignment 1)
b.Industry Analysis and Trends (Assignment 1)
c.Strategic Position & Risk Assessment (Assignment 1)
d.Target Market (Assignment 2)
e.Competition (Assignment 2)
f.Marketing Plan & Sales Strategy (Assignment 2)
2.Create an Ethics & Social Responsibility Plan.
Note: The Ethics & Social Responsibility plan should account for approximately three to five (3-5) pages of the Business Plan Draft.
a.Describe the ways in which your company is committed to being a good corporate citizen.
◦ Hints: Consider the following areas: ◾Creating jobs
◾Following the laws of every jurisdiction in which your company operates
◾Fair and honest treatment of employees
◾Non-discrimination of employees and increasing diversity of your work force
◦ Hints: If your company is designed as a social venture—in which you have a primary purpose of achieving a social or environmental goal—describe what that goal is and what aspects of your company are designed to reach that goal. Provide a rationale for why you have or why you have not chosen this to be a social venture.
b.Discuss how your company’s activities will affect the environment and identify the steps you will take to mitigate any negative impacts.
◦ Hints: As a beverage company, consider such issues as your choice of packaging, disposal of bottles / packages by consumers, and your use of resources, such as water in areas where water may be scarce.
c.Determine any health issues / claims related to the product you are making, whether negative or positive. Suggest the strategy your company will use to mitigate any negative issues, and to ensure any positive claims are true.
d.Many beverage products have negative health impacts on certain segments of a population (e.g., children, pregnant mothers, etc.). Suggest your company’s plan, through advertising, distribution, and / or other methods, to target and reach only appropriate market segments.
3.Format your assignment according to these formatting requirements:a.Cite the resources you have used to complete the exercise. Note: There is no minimum requirement for the number of resources used in the exercise.
b.Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow APA or school-specific format. Check with your professor for any additional instructions.
c.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 page length.
Section 2: Business Plan Financials (MS Excel worksheets template)
4.For year one, revise and submit the Income Statement, Cash Flow Projections, and Balance Sheet sections from the “Business Plan Financials” MS Excel template (see: Course Required Files in Week 1).
The specific course learning outcomes associated with this assignment are:
•Describe strategic planning techniques used to formulate alternative strategies designed to achieve stated business goals.
•Create a plan to implement a firm’s strategy and manage the change from current operations.
•Analyze strategies for exerting the internal leadership needed to drive the implementation of strategic initiatives and improve operating excellence.
•Use technology and information resources to research issues in strategic management.
•Write clearly and concisely about strategic management using proper writing mechanics.
Click here to view the grading rubric for this assignment.