UNIVERSITY OF MAURITIUS FACULTY OF LAW AND MANAGEMENT DEPARTMENT OF MANAGEMENT GEM MGT 2251Y: ENTREPRENEURSHIP/LEADERSHIP/INNOVATION Word Limit: 3 000

words Submission: Week 15 of Semester 1 (week beginning 15 th November 2010) Requirements: You are required to submit a Summary Business Plan as part of your assessment for this module. The Summary Business Plan is worth 10% of the final mark. Kindly find herewith information and guidelines for the Summary Business Plan. You may have to refer to Unit 15, paragraph 15.5 Business Plan Outline. A few clarifications: i. ii. iii. The Summary Business Plan is a document showing your intentions on the way forward. You simply have to state your plans and your general directions. You are not required to develop fully your marketing plan, finance plan etc. Only give indications of what you have in mind. No profit and loss, balance sheet or cash flow is required at this stage. In your finance plan, only attempt to give a first year budget and indicate where you will get the money to finance same. Give sufficient indications on your future plans so that we can help you in giving feedback. This assignment is an evaluation exercise, but it is also a learning opportunity. We shall, upon correction, give comments and provide suggestions on the way forward in your final business plan. v. vi. Your summary business plan is expected to be 10 -15 pages long, but you may feel free to express your creativity in more pages! You may wish not to use the template provided. You are encouraged to read broadly on other templates in the literature and to use a structure that suits your business idea . and your personality. Be creative and innovate. The template provided contains the general issues to be addressed. You may wish to add your own specific issues. vii. viii. Do not use expensive binding (or excessive presentation gadgets) and be ecofriendly. A business plan is a sober document and not an Art portfolio (unless you are in the business of Arts!) For formatting, use Times New Roman, font 12 and 1 line spacing for text. 1|Page

iv.

ix.

You should submit your summary business plan by Week 15 this semester. You should clearly write your Name and Index No., Tutor Name and Programme of Studies on cover page. There is no specific word limit though we have specified a limit of 3000 (because many of you have been asking). Your creativity is the limit. Elaborate binding is not necessary. You may simply double staple your sheets.

Please find below the adapted template for the Summary Business Plan. You may wish to further adapt/modify. Please note that a Summary Business Plan is not an Executive Summary. The Executive Summary is a condensed form of the completed full business plan, which is not yet ready at this stage.

SUMMARY BUSINESS PLAN OUTLINE Cover Page Use soft cover. Simple, non-expensive binding/stapling. Display Index No., Programme of Studies, Tutors Name Table of Contents Use paragraph numbers and indicate page number. I. Executive Summary At this stage, you cannot yet write your executive summary because it is a condensed form of your whole business plan. You can finalise your executive summary only after you have completed your Business Plan. need an executive summary at this stage. II. The Business 1. The Opportunity State how you got your idea (e.g any brainstorming with family (friends) and why you believe it is a business opportunity. A. The Description of the Business 2|Page So you do not

Description of how the proposed business plans to solve the problem or fill the need (e.g how does it add value for customers?)

Company history or background (if any) Company Vision, Mission and objectives Attempt to write a tentative vision and mission (see your manual for method). B. Competitive Advantage

Description of the business model Is it a franchise? Is it web-based? Is it based on direct selling? Is it retail or wholesale?

How the business will create a sustainable competitive advantage Demonstrate that your product/service is rare, non-imitable and non-substitutable C. Current Status and Requirements

Description of what the business needs to move forward Brief description of what remains to be done, e.g finalise environmental analysis or any market surveys.

III Management Team 1. Management Team

Management qualifications/experience

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(for owners/managers)

Management ability/competences Any distinct competences e.g marketing, abilities, leadership etc.

Technical expertise (if any) (e.g hydroponics expert)

2. Board of Directors (if a company)

Number of directors Composition of the board and responsibilities

3. Board of Advisers (if any)

Number of advisers You may wish to appoint a friend or relative if not a professional as adviser, e.g for finance matters.

Composition of the advisory board

4. Key Professional Service Providers

Law & Accountancy firms If you plan to outsource these to a professional firm

Bankers

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Give names if you have decided already IV Organisation Structure, Ownership and Intellectual Property 1. Organisational Structure

Organisational chart Attempt to draw a chart showing hierarchy and reporting relationships.

2.

Legal Structure

Legal form of business Company, Trust (for an NGO), Cooperative etc

Ownership of the business Any partners? Shares ratio? 3. Intellectual Property (if any)

Patents, trademarks, and copyright applied for or already approved

V Industry Analysis 1. Industry description

Industry trends, size, attractiveness You may attempt and to describe Porters strengths, five weaknesses, model(see

opportunities

threats.

forces

manual) can be applied to your proposed business.

Profit potential (if possible at this stage)

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2.Target Market

Description of target market Mention the specificities of your target market e.g buying behaviour, disposable income, individuals or institutions. 1. Competitive position within target market

3. Competitive position within target market Competitor analysis Briefly describe any competitors, if possible their relative market shares.

VI Marketing Plan 1. Product Feasibility and Strategy

Concept testing State your plans, e.g any prototype

Product strategy Give your plans concerning packaging, sizes, volumes,

presentation etc. 2. Pricing Strategy Based on cost, based on competition, psychological pricing? 3. Channels of Distribution Direct Selling or via intermediaries. How many? Why? 4. Marketing Communications Strategy

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Your plans for advertising any press advert, brochures, direct marketing? 5. Customer Support e.g any after sales service projected

Customer support strategies How do you plan to develop a relationship with customers in view of retaining them?

Customer support obligations Any contractual agreements with customers e.g hire purchase.

VII Operations Plan 1. Method of Production or Service Delivery Manual production or mechanical? Industrial Manufacturing? Machines? 2. Availability of Qualified Labour Pool (may require separate HR Plan) If you plan to employ more than a few people, you will need a separate HR plan. Manpower requirements how many which qualifications, procedures.

skills,

competences.

Recruitment

and

Selection

Location Plan, Layout Plan A layout plan of shop/ factory, showing different arrangements e.g production, administration, facilities etc. A site plan to locate business in your area e.g town centre.

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Quality Control (if any) VIII 1. Financial Plan Capital Requirements for the Next 3 to 5 Years

Sources and uses of funds A simple budget for one year is required at this stage.You have to indicate where you will get funds, e.g ratio of own funds/loan.

P & L, Cash Flow and Balance Sheet not required at this stage. IX Critical Risk Factors 1. 2. 3. 4. 5. 6. Management Risks Marketing Risks Operating Risks Financial Risks Intellectual Property Infringement Other Risks as Appropriate Make an attempt to at least identify the main risk factors. X Appendix 1. Supporting Documents

C.Vs of founders and key employees (if available at this stage) Diagrams of product prototypes (if any)

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Other documents as appropriate (e.g any application forms for licences, permits etc).

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