MGT402 Entrepreneurship and Small Business

MGT402 Entrepreneurship and Small Business

Learning Goal: I’m working on a management exercise and need an explanation and answer to help me learn.

Start-up Business Plan

Imagine you started a new business as an entrepreneur in Saudi Arabia.

Please, think and share information on the following items:

1. Owners, capital structure and company profile

a. Your Business Name, Address, E‐Mail

b. Form of ownership:What is the legal structure? Sole proprietor, Partnership, Corporation…..

C. Investment capital

2. Company Business Description (300 – 400 words)

A. Scope and type of business

What business will you be in? What will you do? What market segment will you choose?
Business idea: what is your big idea? Is it a product or a service? What makes your idea different?
Mission Statement
Company’s short-term and long-term goals and objectives.
Target market and demographics: Who will your customers be? Where do they live? What is your target market passionate about?

B. Business Philosophy

What is important to you in your business?
Describe your Industry: Is it a growth industry? What long term or short-term changes do you foresee in the industry? How will your company take advantage of it?
Describe your most important company strengths and core competencies: What factors will make the company succeed? What do you think your major competitive strengths will be? What background experience, skills, and strengths do you personally bring to this new venture?
Risk Assessment: Evaluate the strengths and weaknesses of your business using SWOT.
Scale of the business and its growth anticipation: what is the growth rate per year for five years? What do your 5-year financials look like? What is your path to profitability?
Who is your competition and how do you beat them?
Start-up costs: what costs do you expect to make the business run for the next five years?

3. Products and Services

a. Describe in detail your products or services (Technical specifications).

b. Size of business: how many employees? How many offices and retail facilities?

c. What factors will give you competitive advantages or disadvantages? Examples, include level of quality or unique or proprietary features.

Requirements: the second question between(300-400 word) | .doc file

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