Description
Design a business plan related to smart sofas according to the document requirements
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Business Plan
The business plan should provide information about the development of a business venture
that has some connection with the hospitality and/or tourism industries. Your business plan
needs to include these components:
1. Title Page: Is there a title page? Are the names of the group members noted? Does the
business venture have an attention-grabbing, appropriate, and creative name?
2. Table Contents: Is it present? Is it accurate?
3. Executive Summary: Is it clear, attention-grabbing, and an effective overview of the
business plan?
4. Description of the Product or Service: Does it describe the main features of the product
or service as well as the industry within which the product/service is situated? Have the
benefits of the product/service and its distinctive features been clearly defined? Is
there a clear mission statement for the business?
5. The Market Analysis: Does it describe the market for the product/service? What is the
target market? Does it mention trends relevant to the business or other relevant driving
forces? What about the competitive environment?
6. Competitive Analysis: Has a SWOT analysis been competently performed?
7. Strategic Marketing Plan: Does it outline the way in which the business will reach its
target market(s)?
8. Operation Plan: Does the business plan address relevant and important production- or
provision-related issues?
9. Financial Analysis: Has the requested financial information been included?
10. Implementation Plan: How will the business shift from the current conceptual phase –
the preparation of the business plan – to a phase whereby it becomes an actual,
functioning business?
How will the business plan (full report) be assessed? You should:
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develop a creative and feasible business enterprise
demonstrate an ability to integrate content and apply principles
prepare a business plan whereby there is consistency across the entire document. Is the
final report well organized? Is it a coherent, structured project?
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analyze and interpret relevant information pertaining to each business plan component;
solutions, alternatives, or strategies are clearly stated, well supported, and logically
consistent
critically evaluate and assess key problems and challenges
use language effectively and convey ideas clearly and fluently (spelling, punctuation,
sentence structure, paraphrasing, and grammar)
use sources/references appropriately (use APA referencing system consistently and
correctly)
The business plan should be typed neatly and well written. Use full sentences to express your
ideas. The business plan should be no more than 20 pages in length, excluding the title page,
table of contents, and reference page(s). Double space the written text and use 12-point font.
You can, if you wish, use both sides of the page.
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You should use headings in the business plan. Professional presentation is crucial.
Please number the pages too
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Avoid unnecessary detail. You will probably have to make some difficult decisions
regarding content you should include or exclude
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Ensure consistency across the business plan (in case different sections are prepared by
different group members)
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Openly address risks and problems, explaining the way in which you intend to address
them
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Think about the most compelling way to “pitch” your business (plan) in a 20 to 25
minute oral presentation as you prepare the business plan. There is an assessed group
presentation for the business plan
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