Question As a prospective entrepreneur, you are requ

Question As a prospective entrepreneur, you are required to prepare a… As a prospective entrepreneur, you are required to prepare a business plan for a new ice cream business (not an existing business/company). The plan is expected to include:1. Title page. This should include the company’s name, logo, address2. Table of Contents. This will allow the reader to easily navigate through the plan.3. Executive summary. This section is a synopsis of the plan. You should include thefollowing:The problem, need or want the business addresses. Target market(s) and benefits of the product.The business model and basis for competitive advantage. Qualifications of founding team and key employees. Key financial highlights.It should be concise, interesting and to the point. You are advised to do this section after you have completed the rest of your business plan.4. The Vision and Mission StatementsThis section expresses the purpose of the business, what it is now and what it will become.5. Company Profile. This should include the following: When and why the company was formed.The form of business ownership.Goals and objectives• What the company will accomplish.• How it will be accomplished.• When it will be accomplished.• Who will accomplish it?6. Business and Industry Profile. This section provides an overview of the industry and market segment.Market size and growth trendsSignificant industry trendsStrength of major companies in the market Competitor’s market share.Competitors’ products and strategies7. Business Strategy. This section describes how the company will gain a competitive edge. This is the plans, decisions and actions of the company to outperform competitors and sustain its position in the industry/market.8. Marketing Strategy. This section must be completed with market research. Provide specifics on any market research conducted to demonstrate the viability of your product and to determine your target market. You should include the following:Demographic characteristics of target customers. Number of potential customers.Customer needs, wants and habits.Outline the following:Product – include diagrams, illustrations, or drawings of product(s). Include the product description and benefits as well.Price(s)PlacePromotion strategy9. Human Resource Plan. This section explains the “people strategy”. Include a simple organizational chart.Describe the qualifications of the management team.State the number of people you need in each position and the recruitment strategy.10. Plan of Operation. A description of how the business will operate to achieve the company’s strategic goals and objectives. The description should include the following elements:hours/days of operationlist of equipmentscheduling of activities (who will do what and when)Business Entrepreneurship MANAGEMENT MGMT2224

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