Diamond Bike Business Plan
OBJECTIVE: The objective of this assignment is to help you understand the importance of planning in helping businesses achieve their objectives. In groups you will have to create a business plan for your Mike’s Bikes organization, which will serve as a blueprint for your operational decisions and provide a step-by-step explanation of how goals will be achieved. As with any business you will have to make decisions as the term progresses based on the plan you create. Each of the 7 parts of the assignment will be evaluated on the criteria below.
LeBow Focus:
Economics: Understand the relationship between revenues and expenses, and better comprehend the benefits and drawbacks of various forms of financing a business.
Problem Solving: Use critical thinking skills and problem solving abilities to successfully grow a business in a highly competitive environment.
Career Planning: Explore some of the responsibilities that go along with owning your own business. You will understand the many facets of Entrepreneurship and the interdependence of many areas of business.
Writing: Use business writing skills to create an Executive Summary and provide a concise picture of your 8 year plan for successfully running a business.
PART A:
Analysis of the organization and its environment
Diamond Bike Business Plan-Part 1: Executive Summary: 5% of your grade
GOAL: As a group you will have to write a one page summary that communicates, independently of the report, a consolidated overview of the principle points in the Business Plan. You should emphasize conclusions and recommendations.
Part 2: Mission Statement: 5% of your grade
GOAL: As a group you will have to create a concise declaration of your organization’s fundamental purpose and basic philosophy. This Mission Statement should identify the needs of key stakeholders of the company and your plan(s) to address those needs. You will need to identify at least 4 stakeholders and clearly incorporate their needs into your company’s Mission Statement.
Part 3: Situation Analysis: 20% of your grade
GOAL: As a group you will have to provide 3 examples for each of the 5 elements below. The examples should be realistic for a bicycle company and should reflect the relationship between external forces and your company’s performance. Each example should have a brief explanation identifying its influence that is unique to the bicycle industry.
*Competitive forces
*Economic forces
*Legal and Regulatory forces
*Technological forces
*Socio-cultural forces
Part 4: SWOT Analysis: 20% of your grade
GOAL: As a group you will have to identify the impact of internal and external factors that affect company performance by providing 3 examples for each of the 4 elements below. The examples should be realistic for a bicycle company in today’s competitive, economic, legal, technological, and socio-cultural environment. For each example you will have to indicate whether it is an internal or an external factor and why.
*Strengths
*Weaknesses
*Opportunities
*Threats
Part 5: Business Resources: 5% of your grade
GOAL: As a group you will have to Identify and describe the resources necessary for your company’s successful operation. You will have to explain your plans for the resources below.
*Human resource experience and expertise: You will have to explain the role that did each group member played in the successful operation of your business
*Financial resources: You will have to identify what financial resources you had when you took control of the company and how you plan to acquire more financial resources should you need them in the future (debt, equity).
Part 6: Business Strategy: 20% of your grade
GOAL: As a group you will need to identify four specific, measurable, and realistic company objectives as well as the timeframe for completing each objective. You will need to include your plan to achieve each of these objectives in the competitive bicycle sector. You will also have to clearly explain your intended strategy for positioning in the market. *Identify strategic placement in the industry (high/low, low/high, medium/medium)
*Objective #1 and plan for using company strengths and resources to achieve this objective
*Objective #2 and plan for using company strengths and resources to achieve this objective
*Objective #3 and plan for using company strengths and resources to achieve this objective
*Objective #4 and plan for using company strengths and resources to achieve this objective
Part B:
A business plan, while an important road map to success, is not set in stone. As the business environment changes, so will your plan for success. As such, a re-assessed Business Plan is required in Part B of this assignment.
For this portion of the assignment, you will need to re-assess your Business Plan. In addition, you will need to include financial and marketing information in the re-assessed plan.
The final document for submission required in this portion of the assignment is a complete Business Plan. This means all parts from Part A (whether or not you have made revisions) as well as the following 2 parts.
Answer Preview-Diamond Bike Business Plan
