Writing a Business Plan provides students with practical knowledge and skills needed to write a business plan for a new business idea. Students will be able to deepen their understanding of the steps to creating a business and determine the resources needed to minimize risk and enhance the probability of creating a successful and sustainable business. Students have the opportunity to develop analytical/critical thinking and research skills through the completion of a business plan for their own business idea.
- Apply appropriate qualitative and quantitative approaches to research the requirements for starting a specific business.
- Create a clear Concept Summary of a new business idea and present it in both written and oral form.
- Complete a Competitor Analysis for a new business idea
- Complete Resource Analysis to determine startup costs and operational expenses
- Complete a Sales Forecast and Profitability Analysis
- Determine funding requirements for a new business and identify funding sources
- Create a Business Plan for a new business