Please Read Instructions and Use the Attach TemplateAssignment 1: Sections 1 & 2 of Proposal Develop a strategic business solution for an existing organization based onidentified challenges, opportuni
Strategic Business Proposal
For
(Insert Company Logo or Name)
For:
<Company Name>
<Company’s Website Address>
Prepared On:
<Current Date>
Prepared By:
<Team Member Names>
Instructor Name:
<Instructor Name>
Executive Summary
An executive summary is your plan in miniature (one page or shorter). The executive summary contains enough information for the readers to become acquainted with the full document without reading it. It contains a purpose statement, plan objectives, key research information, and an overview of the tactics and implementation strategy. Someone reading your executive summary should get a good idea of the main points of the document within a few sentences. You will want to include a hook to catch the reader’s attention at the beginning of the summary, your elevator pitch to make it clear and simple what you are proposing, and a transition to the rest of the business proposal at the end. We suggest writing it like a letter to personalize it to your Board of Directors. iBook reference – Chapter 10, pages 93 – 95
THIS SUMMARY IS NOT DUE UNTIL WEEK 2.
Organizational Challenges
In this section, detail the problem/challenge that the organization is facing and the what specifically you are trying to address. All problems should be factual, not based on opinion, and supported by research. You should have a minimum of three researched facts supporting your statements. Research and in-text citations are expected in this area. iBook reference – Chapter 1 & 2, pages 3 - 25
Proposed Solution
Describe your proposed solution to the problem above. The description of your solution should be clear, concise, supported by research, and answer who, what, when, where, why, and how. Include at least two research facts/sources that support the need for what you are proposing. Use industry reports to help support the reason for this project. Remember that a part of this is selling your solution to the Board of Directors. Research and in-text citations are expected in this area. iBook reference – Chapter 1 & 2, pages 3 – 25
In Appendix 1, create a mock-up of your idea to help your Board of Directors understand your vision.
2: Environmental ScanInternal Strengths & Weaknesses
In this section, address any strengths and weaknesses about the company that are relevant to your problem and solution. Look for areas that are creating favorable or unfavorable conditions for the organization to proceed with the project and explain what makes it favorable or unfavorable. Research and in-text citations are expected in this area. iBook reference – Chapter 3, pages 26 - 44
Target Market
With your solution in mind, describe the customer you are trying to reach with this proposal. This may or may not match the current customer for the organization.
Include all relevant segments like geographic, demographics, psychographics, market size and potential growth, customer wants and needs, what motivates them to buy the product/service, the distribution channels they use, how often they purchase, and the most suitable advertising for the demographic. Research and in-text citations are expected in this area. iBook reference – Chapter 3, pages 26 – 44
In Appendix 2, include a customer persona or infographic that visually represents the information above.
External Business Climate
In this section, address PEST (political, regulatory, economic, social and cultural, and technological) concerns and trends that are relevant to the idea. Focus primarily on social and cultural and technological topics. Remember that this is an external analysis section, so this should be focused on the industry and consumer and not the company. Look for areas that are creating favorable or unfavorable conditions for the project and explain what makes it favorable or unfavorable. Research and in-text citations are expected in this area. iBook reference – Chapter 3, pages 26 – 44
Competitors
Briefly identify the competitors of your project idea (this is potentially and likely different from your current competitors) and explain what makes them a competitor. Identify whether or not they are direct or indirect competitor and what other information it is important to know about the competition as it relates to the problem/solution.
iBook reference – Chapter 3, pages 26 – 44
Use the table in Appendix 3 to display this information visually. Add at least three more items to the table that helps to support the problem and/or solution.
3: Strategy Implementation: OperationsOrganizational Structure
This section should address how your proposed solution will impact the overall operations of the company and its business model. Identify the position or person who will lead this initiative, as well as the divisions and departments that will be involved and their key responsibilities. Consider how the organization needs to work together to make this successful. An organizational chart with responsibilities listed may be an effective alternative to writing a narrative here. Research and in-text citations are expected in this area. iBook reference – Chapter 4, pages 45 - 59
Once this section is complete, use the Expense tab on the Financial Workbook to list these items and a cost for the project budget.
Staffing Needs
Provide a brief description of any new employees needed to implement the solution, how many staff will be needed in each of those positions, and an estimated salary for each. You may want to present this information in a chart format. Research and in-text citations are expected in this area.
iBook reference – Chapter 4, pages 45 - 59
Once this section is complete, use the Expense tab on the Financial Workbook to list these items and a cost for the project budget.
Additional Operational Needs
Address any additional operational needs you will need to implement the solution. This may include a new location, equipment, manufacturing, software, construction, research and development, prototypes, facility builds or remodels, etc. Feel free to adjust the heading of this section to fit your specific needs. Research and in-text citations are expected in this area. iBook reference – Chapter 4, pages 45 - 59
Once this section is complete, use the Expense tab on the Financial Workbook to list these items and a cost for the project budget.
3: Strategy Implementation: MarketingPromotion Strategy
Select a minimum of three of the promotional categories available (check the iBook for options) and develop at least two marketing tactics for each category. You are not limited, rather you can do as many as you want. Select what is innovative, relevant to your idea, your target market, and your company. Explain how you will integrate these tactics with each other to create an integrated marketing campaign. Later in the month, you will be developing an example of your marketing campaign. Be creative and fun here – talk about tag lines, calls to action, and so forth. You are required to develop an example of your marketing campaign in the appendix section. Review and replace the sample in Appendix 4. Research and in-text citations are expected in this area. iBook reference – Chapter 5, pages 60 – 70
Type of Promotional Category – Copy & Paste This Section for Each Marketing Campaign Category
Concisely explain what the campaign strategy is that you are planning. This is high level – the tactics you’ll use are broken down below.
Campaign Tactic 1:
Concisely explain your marketing tactic and how you will implement this. This should include what it will look and sound like, what platform(s) you will use, what the call to action is for the customer, and when and how long you will run the campaign.
Campaign Tactic 2:
Concisely explain your marketing tactic and how you will implement this. This should include what it will look and sound like, what platform(s) you will use, what the call to action is for the customer, and when and how long you will run the campaign.
Once this section is complete, use the Expense tab on the Financial Workbook to list the annual costs for each category to execute the tactics.
3: Strategy Implementation: LegalRisks & Liabilities
Outline any risks and liabilities that your project creates. Address how you will prepare for those risks. Research and in-text citations are expected in this area. iBook reference – Chapter 6, pages 71 - 80
Once this section is complete, fill out any expenses on the financial workbook. If it is mentioned in the write-up, the costs should be researched and explained here and listed in the Professional Services or Insurance/Utilities section of the workbook.
Regulations
Outline regulations such as industry-specific regulatory bodies, licensing, permits, laws, and government regulations that must be adhered to and explain what steps will be needed to be taken to address these. Research and in-text citations are expected in this area. iBook reference – Chapter 6, pages 71 – 80
Once this section is complete, fill out any expenses on the financial workbook. If it is mentioned in the write-up, the costs should be researched and explained here and listed in the Professional Services section of the Financial workbook.
Contracts
Outline any contractual needs for your idea and explain what steps will need to be taken to address these, such as adding or amending existing contracts and creating new ones. Consider customers, collaborators, strategic partnerships, etc. Research and in-text citations are expected in this area. iBook reference – Chapter 6, pages 71 - 80
Once this section is complete, fill out any expenses on the financial workbook. If it is mentioned in the write-up, the costs should be researched and explained here and listed in the Professional Services section of the Financial workbook.
Insurance
Outline any insurance needs you will have for your idea and explain what steps will need to be taken to address these, such as adding or amending existing insurance agreements or creating new ones. Research and in-text citations are expected in this area. iBook reference – Chapter 6, pages 71 – 80
Once this section is complete, fill out any expenses on the financial workbook. If it is mentioned in the write-up, the costs should be researched and explained here and listed in the Insurance/Utilities section of the Financial workbook.
Intellectual Property
Outline any patent, copyright, trademark, trade secrets, and right of publicity needs you will have and explain what steps will need to be taken to address these. Consider both the needs for your company and your project as well as the use of other people and company’s intellectual rights. Research and in-text citations are expected in this area. iBook reference – Chapter 6, pages 71 – 80
Once this section is complete, fill out any expenses on the financial workbook. If it is mentioned in the write-up, the costs should be researched and explained here and listed in the Professional Services section of the Financial workbook.
4: Strategy Implementation: Sales ProjectionsUsing the sections below, identify how your solution will make money. Explain each product/service that will be sold, the sale price of each product/service (unit), the number of units that will be sold each year, and the unit cost to make the product/service (unit). There is space for three revenue streams, however, you are only required to have one stream. Delete these instructions once you have reviewed them.
Name of Product/Service – Copy & Paste This Section for Each Product/Service (Unit)
Explain the product/service that is being sold. If it consists of multiple items (i.e. merchandise rather than just t-shirts), explain what those items are here.
iBook reference – Chapter 7, pages 80 – 86
Unit Volume Explanation
Explain how many units are being sold annually, what research, calculations, and assumptions you used to come up with the figures you put under Unit Volume of the financial workbook. Research and in-text citations are expected in this area. iBook reference – Chapter 7, pages 80 – 86
Unit Price Explanation
Explain how much you each unit is being sold for, how you decided on this price, and what comparisons you have done to other businesses and their product offerings. Explain what research, calculations, and assumptions you used to come up with the figures you put under Unit Price of the financial workbook. Research and in-text citations are expected in this area. iBook reference – Chapter 5, pages 60 – 70 & Chapter 7, pages 80 – 86
Unit Cost Explanation
Explain how much it costs to produce/create each unit. Unit cost typically applies to a product rather than a service. Provide the research, calculations, and assumptions you used to come up with the figures you put under Unit Cost of the financial workbook. Research and in-text citations are expected in this area. iBook reference – Chapter 7, pages 80 – 86
Using the Sales Projections tab of the Financial Workbook, insert the unit volume, price, and cost. Then put this in Appendix 5. In addition, you’ll include your Project Budget as Appendix 6.
4: Strategy Implementation: Income StatementExplain how much money you are going to be making or losing from your solution. Look at the Income Statement tab on the Financial workbook. The net profit/loss line calculates your solution’s profit or loss for Years 1, 2, and 3. Discuss whether or not you are making a profit and what is helping or hindering profitability each year.
iBook reference – Chapter 7, pages 80 – 86
Include your Income Statement from the Financial Workbook as Appendix 7.
5: Strategy Implementation: Project TimelineThis section should explain your plan and timeline for implementation. If it is listed in any of the Strategy Implementation sections, it should be outlined here. Alternatively, if it is listed here, it should appear in other areas of the proposal.
When identifying what and how you will evaluate, think back on the purpose of this project and consider what needs to be tracked to identify whether or not this was a success. Put yourself in the role of the board – when you look at the results of your project, consider what you want to know, how you want it tracked, and what you want to know from it. Include a visual timeline that represents the information in this section. Include the timeline as Appendix 8. Delete these instructions once you have reviewed them and make sure the format matches the rest of the proposal.
iBook reference – Chapter 8, pages 87 - 92
Pre-Launch
Outline the steps you will take to prepare for the launch of your project. Consider when you want to launch and what needs to be done and by when in order to be done by your launch date. Identify at least two significant milestones for this period.
Year 1
Outline what will take place during Year 1. Identify at least two significant milestones, two goals, and your evaluation plans (key performance indicators) for this period.
Year 2 & 3
Outline what will take place during Year 2 & 3 that is different than Year 1. This should not be a copy and paste of above. Identify at least two significant milestones, two goals, and your evaluation plans (key performance indicators) for this period.
This section should include a cumulative list of references used for all assignments related to your strategic business proposal. The list should be prepared in alphabetical order using APA format. Delete these instructions once you have reviewed them and make sure the format and fonts match the rest of the proposal.
Reference the attached appendices and any supplemental items that support your problem and solution, such as financial forms and marketing materials, in the body of your proposal (ex. See Appendix 1 for Customer Persona). Give a brief description of each appendices before it. Delete these instructions once you have reviewed them and make sure the format and fonts match the rest of the proposal.
Appendix 1: Idea Mock-Up
Appendix 2: Target Market
Appendix 3: Competitive Analysis
Write a brief explanation of the information below.
Your Company Name | Competitor Name | Competitor Name | Competitor Name | |
Direct or Indirect Competition | ||||
Competitive Product/Service | ||||
XXX | ||||
XXX |
Appendix 4: Marketing Sample
Appendix 5: Sales Projections
Appendix 6: Expense Budget
Appendix 7: Income Statement
Appendix 8: Project Timeline