The Business Plan:

This assignment can not be less than 1,500 words, address the following questions:

1. Discuss the importance of a Business Plan to the success of a small business.
2. Using the Business Plan Format in Chapter 5 of your textbook, identify, and briefly describe, the 14 elements different components of a business plan, utilizing headings for each element, with a description of the element beneath it.
   • You should provide a listing of the elements of your Business Plan using the element as a heading; for example; a heading of “Executive Summary” with a description of what is included in the executive summary of a Business Plan.
3. Using a fictitious or real-life business in the industry of your choice, develop the Business and Industry Profile and the Competitor Analysis elements of your Business Plan as if you were completing them in a real-life business plan. Make sure that you identify the name of your firm (be it real or fictitious) and the type of industry in which it is operating.
   • When you complete the “Business and Industry Profile” and “Competitor Analysis” elements, provide a mock-up of what a Business and Industry Profile and a Competitor Analysis might look like for either a fictitious company or a real-life company of your choice.

Submit a Microsoft Word document. 

Resource(s)

Scarborough, N. M. (2019). Essentials of entrepreneurship and small business management (9th ed.). Upper Saddle River, NJ: Pearson. ISBN 13: 9780136879664