Industry Analysis - Key Success Factors - Industry Trends - Business Assignment Help

Assignment Task:

Explanation:

• The executive summary is a short overview of the entire business plan; it provides a busy reader with everything he/she needs to know about the venture’s distinctive nature.
• Executive Summary is not an introduction or preface to the business plan, it is meant to be a summary of the plan itself.
• An executive summary should not exceed two single-spaced pages.
• Its purpose is to provide an overview of the business plan on a section-by-section basis.
• The topics should be presented in the same order as they are presented in the business plan.
• The executive summary should be written last.

Industry Analysis:  

• Industry Structure
• Key Success Factors                                                                                                                           
• Industry Trends 
• The Five Forces Model                                                                                                                      
• Long-Term Prospects

Explanation:

• Industry structure refers to how concentrated (industry dominated by only a few large firms) or fragmented (industry having many small firms almost of all equal sizes) an industry is.
• Nature of participants such as innovativeness or conservativeness and their quick or slow responsiveness to the environmental changes are needed to be discussed. Here, participants mean all firms operating in the specific industry.
• Key success factors are needed to be mentioned. Most industries have 6 to 10 key factors in which all participants must establish competence as a foundation for competing successfully against competitors. Most participants try to differentiate themselves by excelling in two or three areas. 
• Industry trends should be discussed, which include both environmental and business trends. The most important environmental trends are economic trends, social trends, technological advances, and political and regulatory changes. Business trends include issues such as increasing or decreasing of profit margins, input costs, the trend of outsourcing, the trend of online business in the industry(Pestle Analysis including political, Economic, Social, Technological, Environmental, Legal)  
• The five forces model should be analysed to indicate the potential threats of new substitutes, suppliers, buyers, competitors, and new entrants that could be explained more in Appendix (for more detail refer to chapter 5). Once any threat is found to be very strong for new business then you must need to discuss the strategies of your firm to minimize the negative impact of these threats.
• The industry analysis should conclude with a brief statement of beliefs regarding the long-term prospects (future, hopes) of the industry. Means what do you think what will be the future of your industry…whether industry will continue to grow, or will soon attain maturity or decline stage.

Company Description: 

• Company History                                                                                                                                 
• Mission Statement                                                                                                                              
• Proposed new product or service

Explanation:

• Company history section should be brief that should explain where the idea for the new company came from and the driving force behind its inception. Here you need to include the findings of your survey, interview, or concept statement. 

Market Analysis:

• Market Segmentation and Target Market Selection                                                                   
• Buyer Behavior                                   
• Competitor Analysis 

Explanation:

• The market analysis breaks the industry into segments or target market. Market segmentation is the process of dividing the market into distinct segments. Markets can be segmented in many ways such as by geography (city, state, and country); demographic variables (age, gender, income), psychographics variables (personality, lifestyle, values) and so forth.
• Consumers’ behaviours in a firm’s target market should be described as well. For example, whether consumers are more likely to save money or spend money and whether they like to use innovative products and services (based on their own experience and observations).

The Economics of the Business :    

• Fixed and Variable Costs     
• New Innovation/s Costs     
• Break-Even Chart and Calculations

 
Explanation:

• This section begins the financial analysis of a business. It addresses the basic logic of how profits will be earned in the business and how many units of a business’s product or service must be sold for the business to “break-even” and then start earning a profit. You need to describe this point with respect to your new firm for its first year.
• The fixed costs and variable costs are also needed to be reported. Fixed costs are costs a company incurs whether it sells something or not while the variable costs vary by sales.
• The businesses’ new innovation/s costs should be estimated and put in a table. These costs include legal expenses, fees for business licenses and permits, website design, business logo design, and similar one-time expenses. Normal operating expenses should not be included.

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