The Basic Components of a Business Plan
Order ID |
53563633773 |
Type |
Essay |
Writer Level |
Masters |
Style |
APA |
Sources/References |
4 |
Perfect Number of Pages to Order |
5-10 Pages |
Description/Paper Instructions
The Basic Components of a Business Plan
A business plan is a document that outlines the strategies, goals, and financial projections for a business. It is used to persuade potential investors, lenders, and stakeholders to invest in or support the growth of the business. A well-written business plan can also be used as a tool to help the business owner stay focused and on track as the company grows and evolves.
There are several key components of a business plan, each of which should be given careful consideration as you prepare your plan. These components include:
Executive Summary: This is a brief overview of the key elements of the plan. It should include a summary of the business, its products or services, the market, competition, and financial projections.
Company Description: This section provides more detailed information about the business, including its history, mission statement, and goals. It should also include information about the ownership and management structure of the company.
Market Analysis: This section should include a detailed analysis of the target market for the business, including information about the size, growth rate, trends, and demographics of the market. It should also include information about the competition and an assessment of the company’s competitive advantages.
Products and Services: This section should provide a detailed description of the products or services that the business offers, including information about product development, manufacturing, and distribution. It should also include information about pricing and marketing strategies.
Sales and Marketing: This section should include information about the sales and marketing strategies that the business will use to reach its target market and generate revenue. This could include information about advertising, promotions, public relations, and direct sales efforts.
Operations and Management: This section should provide information about how the business will be operated, including details about the location, equipment, and personnel required. It should also include information about management and leadership within the company, as well as any advisors or consultants that the business plans to use.
Financial Projections: This section is one of the most important components of the business plan and should include financial projections for the business, including projected income statements, balance sheets, and cash flow statements. The financial projections should be based on realistic assumptions and should be accompanied by an explanation of how they were calculated.
Appendices: This section should include any additional information that is relevant to the plan but does not fit in one of the other sections, such as resumes of key management, contracts, and any other supporting documents.
Each of these components should be carefully researched and written to provide a comprehensive and compelling picture of the business, its strategies, and its potential for success. It is important to remember that a business plan is a dynamic document that will change as the business grows and evolves, so it should be reviewed and updated regularly to reflect the latest information and developments.
In addition, a good business plan should be written in clear and concise language and be well-organized, easy to read and understand. It is also recommended to get a review and feedback from a mentor, experienced entrepreneur, or a professional business plan consultant to make sure it is sound and market ready.
In summary, A Business Plan is a strategic tool that provides a detailed picture of a company’s goals, strategies, market analysis, sales, and marketing efforts, operations, management, and financial projections. It is used to persuade investors, lenders, and stakeholders to support the business, and also helps the business owner stay focused and on track as the company grows and evolves.
RUBRIC
QUALITY OF RESPONSE |
NO RESPONSE |
POOR / UNSATISFACTORY |
SATISFACTORY |
GOOD |
EXCELLENT |
Content (worth a maximum of 50% of the total points) |
Zero points: Student failed to submit the final paper. |
20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. |
30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. |
40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. |
50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. |
Use of Sources (worth a maximum of 20% of the total points). |
Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. |
5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. |
10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. |
15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. |
20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. |
Grammar (worth maximum of 20% of total points) |
Zero points: Student failed to submit the final paper. |
5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors |
10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors |
15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. |
20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. |
Structure of the Paper (worth 10% of total points) |
Zero points: Student failed to submit the final paper. |
3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. |
5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper |
7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. |
10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. |
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The Basic Components of a Business Plan
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