Analyze key organizational dependencies to assess functionality.

Directions

This is the second of several assignments to help students develop a business plan.

For milestone 1 you were asked to:  Select a business you would like to go into, in your field of interest.  Describe the business including the mission statement, the products and services the company will offer, and who you consider to be the company’s competition.  How will you establish your company so that it stands out from the competition?  How will you establish this business to accommodate a global business environment?  What talents will you be looking for when you hire employees?  What technologies will be imperative to maintaining your business? What will you charge for your products and/or services that you offer?

In milestone 2, you will create a SWOT analysis and discuss promotional strategies.

Part A
Conduct a SWOT analysis on the competition in your target market.  Go to Bplans.com, read What Is a SWOT Analysis and view the video.  A SWOT for a particular business looks at the following:

• Strengths (what is the competition doing well)
• Weaknesses (what is the competition not doing well)
• Opportunities (what opportunities exist for your company in the market)
• Threats (what challenges will you be facing in this market, that you have no control over such as the economy or new competition)

Share the SWOT analysis using a table created in a Word document that bullet points the strengths, weaknesses, opportunities and threats. Then, in 1-2 paragraphs, explain what the content of the SWOT analysis means to your company.

Part B
Discuss your promotional strategies. How will you promote your business (how will you let the consumer or client know you exist using advertising and promotions)?  What do you project your sales to be in the first year of doing business? Explain your answers.

Once the instructor has assessed this assignment, made comments, and returned the assignment to you, make sure you read the comments and make the necessary changes.  You will be submitting this material again in the final business plan.