Business Management Capstone- Business Plan
DescriptionBUSINESS MANAGEMENT CAPSTONECompetency 981.1.1: Capstone – The graduate integrates and synthesizes competencies from across the degree program and thereby demonstrates the ability to participate in and contribute value to the chosen professional field.Introduction:For the capstone project, you will create a business plan for a hypothetical start-up company using the scenarios provided below. In the business plan, you will need to demonstrate the integration and synthesis of competencies in all domains required for your degree program.Scenario:Select the business plan scenario assigned to your degree program from the list below:Information Technology Management Majors:Develop a business plan for a start-up company that sells computer services, equipment, or software. Select the type of products that the company will offer. The products can be real or potential.Marketing Management Majors:Develop a business plan for a start-up company that provides some type of marketing product or service (e.g., advertising campaigns, sales, online promotions). Select the type of products or services that the company will offer. The products can be real or potential.Accounting Majors:Develop a business plan for a start-up company that offers some type of accounting service. The type of services offered could include bookkeeping, auditing, tax preparation, accounting software, or some other type of current or potential service.Finance Majors:Develop a business plan for a start-up company that offers some type of financial service. The products or services provided by the company might include banking, financial planning, investments, stockbroking, mortgage lending, etc.Management Majors:Develop a business plan for a start-up company that plans to sell a product or service in a local market, in a national market, or on the Internet. Select one of your favorite products as the basis for the company, or invent a product.Human Resource Management Majors:Develop a business plan for a company that offers human resources products or services. Examples might include a temporary or staffing agency, a benefits consultant, a training company, etc.Requirements:Create a business plan for your hypothetical start-up company in which you do the following:Note: You are required to utilize both the attached ?Business Plan Template? and the attached ?Financial Plan Template? in creating your business plan. If the attached WGU templates are not completed and submitted, your work will automatically be returned to you without being evaluated. These templates are located in the ?File Attachments? section of the Taskstream Capstone instructions.A. Write an executive summary (suggested length of 1?2 pages) in which you do the following:
1. Identify the company?s name and location.
2. Describe the mission of the company.
3. Discuss two business goals in support of the company?s mission.
4. Discuss three keys to success for the company.
B. Write a company summary (suggested length of 4?6 pages) in which you do the following:
1. Describe the history of the industry in which the company will operate.
2. Identify the legal form that the company will take.
3. Describe the location and type of facilities needed for the company.
4. Describe the management structure, including key positions and specific responsibilities.
5. Describe the products and services offered by the company.
C. Develop a market analysis (suggested length of 3?5 pages) in which you do the following:
1. Describe the target market for the company?s products and services, including the specific location, demographics, etc.
2. Complete an industry analysis for the company, including current trends and statistics.
3. Complete a four-square SWOT analysis for the company in which you do the following:
a. Identify three strengths, three weaknesses, three opportunities, and three threats.
b. Explain each of the identified strengths, weaknesses, opportunities, and threats.
D. Develop a market strategy (suggested length of 3?6 pages) in which you do the following:
1. Discuss each of the four Ps of marketing as they relate to the company?s products and services.
2. Develop a price list for the company?s products and services.
3. Develop a promotional strategy including specific tasks, target dates, and responsible parties.
4. Develop a monthly sales forecast for the first year of operations, including a discussion of expected market conditions.
Note: The sales forecast will be used as the basis for your revenue in your financial statements.
E. Develop an implementation strategy (suggested length of 3?6 pages) in which you do the following:
1. Summarize the overall strategy that will be utilized to launch your business, including target dates and goals for implementation.
2. Develop a post-launch monitoring plan (e.g., financial impact, quality control, customer satisfaction, monitoring schedule) to evaluate the success of the company in meeting milestones.
F. Calculate and develop the financial statements and projections (suggested length of 2 pages) for the first year of business by doing the following:
1. Develop a month-by-month forecasted profit and loss statement using an estimate of revenues and operating costs based on the sales forecast.
2. Develop a forecasted balance sheet for the end of year one.
G. Write a financial report (suggested length of 1?2 pages) in which you do the following:
1. Summarize the financial projections and the assumptions used in estimating the financial statements.
2. Describe the company?s financial position at the end of the first year.
3. Describe the company?s initial and future estimated capital/investment needs.
H. When you use sources, include all in-text citations and references in APA format.Note: For definitions of terms commonly used in the rubric, see the Rubric Terms web link included in the Evaluation Procedures section.Note: When using sources to support ideas and elements in an assessment, the submission MUST include APA formatted in-text citations with a corresponding reference list for any direct quotes or paraphrasing. It is not necessary to list sources that were consulted if they have not been quoted or paraphrased in the text of the assessment.Note: No more than a combined total of 30% of a submission can be directly quoted or closely paraphrased from outside sources, even if cited correctly. For tips on using APA style, please refer to the APA Handout web link included in the APA Guidelines section.