Tables of ContentTask - 1Develop a business profile for a small businessPerformance criteria1.1 Business concept introduced1.2 Vision and mission developed for the selected business concept1.3 A minimum of two goals and objectives for each goal meeting the SMART criteria are formulated1.4 An actual or intended underlying legal structure of the business key supplies or customers and the physical location or e- location of the business is identified and developed1.5 Describe the business or personal background (s)Range may include but is not limited to candidate's previous work experience and qualifications or trading history of the business1.6 Highlighted the purpose of the business plan1.7 Identifies the critical success factors for the businessTask - 2Conduct an external and internal environment scan for a small businessPerformance criteria2.1 The characteristics of industry are identified and any important trends outlined2.2 Direct and indirect competitors are both identified and competitive strategy formulated2.3 Political, economic, social, technological, environment, legal factors are identified and analysed2.4 Analysis conducted using the Porter's five forces framework2.5 Strengths, Weakness, opportunities and Threats (SWOT) analysis undertaken.Task - 3Identify and conduct a stakeholder analysisPerformance criteria3.1 A minimum of five key stakeholders are identified for the selected business concept3.2 Stakeholder analysis conducted for the identified key stakeholdersTask - 4Develop a marketing plan for a small businessPerformance criteria4.1 A minimum of one customer group identified and value proposition created4.2 Marketing objectives meeting the SMART criteria are formulated with key performance indicators4.3 Marketing mix developedRange may indicated but is not limited to product, price, place and promotionProduct - Candidate has described how their product or service is going to meet the three levels of productPrice - A minimum of one pricing strategy and tactic for the product or service is developedPlace - The type of distribution channel or intermediary used to place their product or service in the market is identified and discussedPromotion - A minimum of two means of promoting their products or service to the customers are identified and discussed4.4 An annual promotion budget, supported with a timeline for the highlighted promotion activities is developedTask - 5Students will identify the required leadership style and skills for the selected business conceptPerformance criteria5.1 Preferred leadership style and necessary skills in the leader are discussed with expected benefits to their selected business conceptTask - 6Student will develop a risk management plan for a small businessPerformance criteria6.1 A minimum of five critical risks to the business are identified and impact of each risk discussed with the probability of occurrence6.2 A risk management strategy is formulated and supported by an action plan for each identified riskTask - 7Students will develop the implementation plan for a small businessPerformance criteria7.1 Objective based action plan including milestones and deadlines outlining how the business concept can be achieved is developed

Goals

1. Focus on your employeesFocus on taking better care of your employees for the year ahead. Keeping employees happy at your company is not only important financially, but it also influences overall office morale. If your employees enjoy coming to work, theyll be more productive, and that attitude is contagious.Ask your employees where they see themselves several years down the road and do what you can to accommodate their desires and goals. Maybe you need to rearrange job titles or project assignments. Additionally, reevalute your office culture.Look into offering occasional happy hours or team-building activities so your employees can get to know each other better on a personal level.If you have working parents at your company, consider offering more flexible hours or bring-your-child-to-work policies. Lastly, consider offering or increasing other benefits such ashealth insurance, 401k plans or even gym memberships.At Palo Alto Software, we subsidize gym membershipsand pay more of the monthly fee if the employee goes more often. We want to encourage our employees to take advantage of the benefit, and work out so that they stay healthy and happy. Try to think outside the box and offer employee perks that really make a difference to the health and happiness of your employees.2. Talk to your customers moreCustomer needs and wants continuously change over time. Your companys product or service might be on target right now in terms of customer demand, but dont get too comfortable. This year, make it a goal to talk to more customers. Whether its one-on-one conversations, focus groups or surveys, try to get a better understanding of where the customer mindset will be in the next year.Once youve taken the time to understand your customers better, reevalute your product or service. Maybe its time to make a few small changes to stay ahead of your customer demand. Consider testing new products or services in addition to those that are already working. Maybe offer discounts to get customers to try something new.Dont make extreme pivots that will take your business off track. Make sure youre still able to focus on your core offerings that make your business successful.Think about exposing more of your employees to customer interactions. At Palo Alto Software we have our executive team and marketing teams periodically jump in and answer customer calls and emails. By interacting with customers on a service level we learn first hand about problems, as well as understand customer concerns and objections to buying our products and services. We can then change how we market and sell, as well as how we support customers in ways that help our customer-service team, and also benefit all of our customers.objectivesMaintain FinancingEven a company with good cash flow needs financing contacts in the event that capital is needed to expand the organization, according to Tim Berry, writing on the "Entrepreneur" website. Maintaining your ability to finance operations means that you can prepare for long-term projects and address short-term needs such as payroll and accounts payable.Change ManagementChange management is the process of preparing your organization for growth and creating processes that effectively deal with a developing marketplace. The objective of change management is to create a dynamic organization that is prepared to meet the challenges of your industry.Purpose of business planMaintaining FocusA business plan contains all of your product information, manpower and financial estimates and your plans for the future. As you look to grow your business, you should refer to your business plan, according to the Small Business Administration. When you decide to make changes to your business, those changes should be reflected in your business plan. When you make updates to your business plan, you get to see how your proposed changes will affect your entire business. Your business plan reminds you of why you started your business in the first place, what your original goals were and how business changes will affect your original vision.Securing FinancingAs you start your business, and even as your business moves along, you will constantly need to concern yourself with financing your business. Financing concerns begin with the start-up costs and then continue with business expansion and new product development. When you look for outside financing, one of the first things the investor will want to see is your business plan, according to Inc.com. Private investors, banks or any other lending institution will want to see how you plan on running your business, what your expense and revenue projections are and whether or not your plans for the future are attainable with the business you have created. All of this can be answered by a well-written and thorough business plan.Fueling AmbitionsStarting your own business can seem like a daunting task if you have never done it before. When you break down your business into a business plan, it can motivate you because it presents the business in an organized fashion, according to the University of Colorado. When you spend the time to outline your business in detail, you begin to understand what it will take to get your dream off the ground. Following a business plan can help you to map out the growth of your company and give you confidence when you need it.Enlightening ExecutivesAs your business grows, you will need to consider adding executives to your team that can help move your company in the right direction. A business plan will help executive talent see your business vision and determine whether or not your company is a worthwhile investment of time and resources.critical success factor for the businessStep1Obtain and use the templates provided by resources, such as the SCORE website, to generate your business plans, including a competitive analysis. These can be found on the SCORE website.Step2Access information provided by the Census.gov website, such as economic indicators, to examine the reports for your industry and identify the characteristics of successful companies. Your business plan should include a description of the industry, the current size, the historic growth rate, typical customers and the general outlook, such as projected growth rate. Identify your main customers and their requirements.Related Reading:Critical Success Factors in the Hotel IndustryStep3Use resources available from market research firms such as Gale Research, Gartner Research and Forrester Research to get further insight into your industry. Determine which key success factors, such as the ability to attract new customers, ability to retain existing customers or a low cost production structure, make the most sense to use when establishing strategic goals for your company. Trade association publications for your industry can also provide critical data for your industry analysis.Step4Distinguish how companies whose profits reflect growth in your industry are able to structure their business to cope with changes in customer needs. Choose a business model, such as subscription or direct sales based on how your company can best function with the resources available to you.Step5Assess your strategic objectives and your business activities to ensure that they align with achievement of your key success factors. Identify your competitors products to assess their strengths and weaknesses. Based on your research, plan how to structure your company to create a competitive advantage.Step6Rank your key success factors by determining why customers choose between competitors, what customers feel are required for products or services in your industry and what value your product or service represents, to gain a competitive edge.Step7Articulate how you will gain market share. List the key success factors for your industry that influence your company structure in the executive summary portion of your plan. Cite risks, such as high investment costs, lack of trained personnel in your area or changing technology or regulatory restrictions.Task 2Porters five force frameworkThreat of new entrants.This force determines how easy (or not) it is to enter a particular industry. If an industry is profitable and there are few barriers to enter, rivalry soon intensifies. When more organizations compete for the same market share, profits start to fall. It is essential for existing organizations to create high barriers to enter to deter new entrants. Threat of new entrants is high when: Low amount of capital is required to enter a market; Existing companies can do little to retaliate; Existing firms do not possess patents, trademarks or do not have established brand reputation; There is no government regulation; Customer switching costs are low (it doesnt cost a lot of money for a firm to switch to other industries); There is low customer loyalty; Products are nearly identical; Economies of scale can be easily achieved.Bargaining power of suppliers.Strong bargaining power allows suppliers to sell higher priced or low quality raw materials to their buyers. This directly affects the buying firms profits because it has to pay more for materials. Suppliers have strong bargaining power when: There are few suppliers but many buyers; Suppliers are large and threaten toforward integrate; Few substitute raw materials exist; Suppliers hold scarce resources; Cost of switching raw materials is especially high.Bargaining power of buyers.Buyers have the power to demand lower price or higher product quality from industry producers when their bargaining power is strong. Lower price means lower revenues for the producer, while higher quality products usually raise production costs. Both scenarios result in lower profits for producers. Buyers exert strong bargaining power when: Buying in large quantities or control many access points to the final customer; Only few buyers exist; Switching costs to other supplier are low; They threaten tobackward integrate; There are many substitutes; Buyers are price sensitive.Threat of substitutes.This force is especially threatening when buyers can easily find substitute products with attractive prices or better quality and when buyers can switch from one product or service to another with little cost.For example,to switch from coffee to tea doesnt cost anything, unlike switching from car to bicycle.Rivalry among existing competitors.This force is the major determinant on how competitive and profitable an industry is. In competitive industry, firms have to compete aggressively for a market share, which results in low profits. Rivalry among competitors is intense when: There are many competitors; Exit barriers are high; Industry of growth is slow or negative; Products are not differentiated and can be easily substituted; Competitors are of equal size; Low customer loyalty.Although, Porter originally introduced five forces affecting an industry, scholars have suggested including the sixth force:complements. Complements increase the demand of the primary product with which they are used, thus, increasing firms and industrys profit potential.For example,iTunes was created to complement iPod and added value for both products. As a result, both iTunes and iPod sales increased, increasing Apples profits.SWOT ANALYSISThe SWOT analysis is a valuable step in your situational analysis. Assessing your firms strengths, weaknesses, market opportunities, and threats through a SWOT analysis is a very simple process that can offer powerful insight into the potential and critical issues affecting a venture.The SWOT analysis begins by conducting an inventory of internal strengths and weaknesses in your organization. You will then note the external opportunities and threats that may affect the organization, based on your market and the overall environment. Dont be concerned about elaborating on these topics at this stage; bullet points may be the best way to begin. Capture the factors you believe are relevant in each of the four areas. You will want to review what you have noted here as you work through your marketing plan. The primary purpose of the SWOT analysis is to identify and assign each significant factor, positive and negative, to one of the four categories, allowing you to take an objective look at your business. The SWOT analysis will be a useful tool in developing and confirming your goals and your marketing strategy.Some experts suggest that you first consider outlining the external opportunities and threats before the strengths and weaknesses.Marketing Plan Prowill allow you to complete your SWOT analysis in whatever order works best for you. In either situation, you will want to review all four areas in detail.StrengthsStrengths describe the positive attributes, tangible and intangible, internal to your organization. They are within your control. What do you do well? What resources do you have? What advantages do you have over your competition?You may want to evaluate your strengths by area, such as marketing, finance, manufacturing, and organizational structure. Strengths include the positive attributes of the people involved in the business, including their knowledge, backgrounds, education, credentials, contacts, reputations, or the skills they bring. Strengths also include tangible assets such as available capital, equipment, credit, established customers, existing channels of distribution, copyrighted materials, patents, information and processing systems, and other valuable resources within the business.Strengths capture the positive aspects internal to your business that add value or offer you a competitive advantage. This is your opportunity to remind yourself of the value existing within your business.WeaknessesNote the weaknesses within your business. Weaknesses are factors that are within your control that detract from your ability to obtain or maintain a competitive edge. Which areas might you improve?Weaknesses might include lack of expertise, limited resources, lack of access to skills or technology, inferior service offerings, or the poor location of your business. These are factors that are under your control, but for a variety of reasons, are in need of improvement to effectively accomplish your marketing objectives.Weaknesses capture the negative aspects internal to your business that detract from the value you offer, or place you at a competitive disadvantage. These are areas you need to enhance in order to compete with your best competitor. The more accurately you identify your weaknesses, the more valuable the SWOT will be for your assessment.OpportunitiesOpportunities assess the external attractive factors that represent the reason for your business to exist and prosper. These are external to your business. What opportunities exist in your market, or in the environment, from which you hope to benefit?These opportunities reflect the potential you can realize through implementing your marketing strategies. Opportunities may be the result of market growth, lifestyle changes, resolution of problems associated with current situations, positive market perceptions about your business, or the ability to offer greater value that will create a demand for your services. If it is relevant, place timeframes around the opportunities. Does it represent an ongoing opportunity, or is it a window of opportunity? How critical is your timing?Opportunities are external to your business. If you have identified opportunities that are internal to the organization and within your control, you will want to classify them as strengths.ThreatsWhat factors are potential threats to your business? Threats include factors beyond your control that could place your marketing strategy, or the business itself, at risk. These are also external you have no control over them, but you may benefit by having contingency plans to address them if they should occur.A threat is a challenge created by an unfavorable trend or development that may lead to deteriorating revenues or profits. Competition existing or potential is always a threat. Other threats may include intolerable price increases by suppliers, governmental regulation, economic downturns, devastating media or press coverage, a shift in consumer behavior that reduces your sales, or the introduction of a leap-frog technology that may make your products, equipment, or services obsolete. What situations might threaten your marketing efforts? Get your worst fears on the table. Part of this list may be speculative in nature, and still add value to your SWOT analysis.It may be valuable to classify your threats according to their seriousness and probability of occurrence.The better you are at identifying potential threats, the more likely you can position yourself to proactively plan for and respond to them. You will be looking back at these threats when you consider your contingency plans.The implicationsThe internal strengths and weaknesses, compared to the external opportunities and threats, can offer additional insight into the condition and potential of the business. How can you use the strengths to better take advantage of the opportunities ahead and minimize the harm that threats may introduce if they become a reality? How can weaknesses be minimized or eliminated? The true value of the SWOT analysis is in bringing this information together, to assess the most promising opportunities, and the most crucial issues.Five key stakeholders

1.Executives:You will need sign-off from the higher-ups to get the right technology inplace, of course. But you will also need leadership to change its approach to corporateculture, employee goals, definitions of productivity, customer relationship management,and so on. The change should include instilling a virtual open-door policy thatencourages employees at every level of the organization to engage with executivemanagement, and vice-versa. Explain to execs that they will need to take the lead onsocial, actively using the technology to share information and embrace new ideas. If theC-suite is not committed to becoming a social business, the transformation simply willnot take place.2.IT:The tech team will be integral to the deployment process, and they will be required tointegrate social media tools with other business technology already in place in theorganization. They will also be in the best position to evaluate costs, as well asmanagement and training requirements for any new software or services.New on expertIP:Act now to make sure your IT skills dont become obsolete3. LOB Managers:Social media has the power to change how business gets doneso line-of-business managers must be involved from the beginning to help define and shape thosechanges. Being on the front lines, they know the current gaps in business processes andshould be actively involved in finding ways to improve them through socialcollaboration. They will also need to weigh in on any management changes to employeeexpectations, drivers, and compensation.4. HR:Human resources can be an excellent resource for management when it comes timeto literally change the ways in which employees are motivated and compensated, as wellas setting appropriate policies around the use of social media within the organization.This is especially true for highly regulated industries. HR should also be involved intraining on the new technology, especially when it comes to the social and cultural moresaround its use.5.Employees:Since it is the workers who will be expected to actually use any social mediatools that are deployed, they must buy into the overall goals of any social media project.No company can transform itself into a social business overnight, but the sooneremployees get on board to use new technology to change the way they work, day in andday out, the sooner those changes will take global effect and deliver measurable results.Furthermore, many of your employees have been using social media for a long time now,with or without your knowledge and consent. The upside to this is they have alreadydeveloped a set of best practices and daily tasks that you can leverage to improve thebusiness overall, by implementing them across the organization.

Referenceshttp://www.entrepreneur.com/article/241505http://smallbusiness.chron.com/10-important-business-objectives-23686.htmlhttp://smallbusiness.chron.com/main-purposes-business-plan-2599.htmlhttp://smallbusiness.chron.com/identify-key-success-factors-industry-structure-business-plan-2790.htmlhttp://www.strategicmanagementinsight.com/tools/porters-five-forces.html

http://www.mplans.com/articles/how-to-perform-a-swot-analysis/http://blog.allstream.com/the-5-stakeholders-that-ensure-social-business-success/

If you havejust launched a new business and are looking to make a great first impression on prospective customers, then it is essential to create an powerfulcompany profile. A well-written company profile is an effective way to introduce the business to the potential customers and other stakeholders. A company profile is a professional introduction of the business and aims to inform the audience about its products and services.To create business or company profiles, one needs to carefully develop a strategy and map outthe characteristics to be highlighted and how to assimilate the unique offerings of the business in a concise yet attractive manner. A great profile is crucial for any business but it should not be the only promotional tool; one needs to create the right marketing mix to reach out to customers and get them interested in your brand. You cantake this amazing course to learn more about creating a powerful brand for yourself and your business.Youhigh level strategy shouldidentify the best markets for promotion, outreach and building sales to sustain the success of yourbusiness (you may want to check out this course that talks about creating the right business strategy). In our discussion here, well walk you through various aspects of how to write a powerfuland informative company profile for businesses across industry verticals.Importance of Company ProfileThere are numerous reasons as to why businesses need a well-written company profile: It presents an opportunity for the prospective buyer to know about the company and enable direct interaction with the sales and marketing teams of the business. By using the right template, one can write an effective profile that will persuade the customers to know more, which ultimately leads to business growth. If the company profile is being created for the business website, then it must be carefully structured so that users will find all the important information like company address, contact details, management team etc. on sections like the about us page. If the business is listed in an organization like the Better Business Bureau, then the profile makes it easy for customers to know about the company when trying to find services in that particular field of work.Learn more about how to effectively engage your customers with this course. The company profile acts like an informative dossier that highlights what the business stands for and what serves as a roadmap for growth. It needs to be created from a readers perspective and must be tailor-made for the target audience.Learn more about marketing strategies to grow your business in this course.Creating the company profile follows logically after you have a good business plan in place, or have already started. If youre in the business planning phase, you shouldcheck out this course to better understand how to create an effective business plan. Choosing the right company profile template is essential to determine the main elements of the business. The sections featured depend on the kind of business and what are the expectations from the profile. One can find hundreds of business profile templates, from which the best one can be chosen to meet the requirements of the organization. Lets look at some of the company profile examples to understand how to develop the right kind of profile for your business.Company Profile ExamplesLets use a few hypothetical companies as examplesof a company profile and the type of information that should be included such as the name of the company, location, description and other details.Example 1:Johnson CorporationBusiness Information Business Name:Johnson Corporation Business Address:153 James Street, Miami,USA Email:Info@Johncorp.com Tel:555-777-9999General Business ActivitiesJohnson Corporation has been established as a real estate company in North and South America. Our traditional business model is based on the accomplishment of properties in the real estate markets in America. Based on the decision of the company to diversify our properties; we have now established this corporation in Toronto. The revenues of our company are expected to be nearly US$50,000 per month depending on the variables that are factored in with investments in the real estate industry. There is a great need for certified or official bank checks in the future to deal with some real estate transactions. In addition to real estate investments, the company has invested portions of its assets in the purchase and sale of securities such as stocks and bonds as well as Forex trading on global markets.Company Strategy PurposeTo be a leader in the real estate industry by providing enhanced services, relationship and profitability. VisionTo provide quality services that exceeds the expectations of our esteemed customers. Mission statementTo build long term relationships with our customers and clients and provide exceptional customer services by pursuing business through innovation and advanced technology. Core values We believe in treating our customers with respect and faith We grow through creativity, invention and innovation. We integrate honesty, integrity and business ethics into all aspects of our business functioning Goals Regional expansion in the field of property management and develop a strong base of key customers. Increase the assets and investments of the company to support the development of services. To build good reputation in the field of real estate and property management and become a key player in the industry.Scope of WorkJohnson Corporation conducts real estate marketing as well as real estate consulting. The company undertakes all maintenance duties for real estate facilities and organizations and conducts all the security and surveillance for the properties.Financial ConsiderationsThe company expects to reach the desired profits in the first year and does not anticipate serious cash flow problems. We believe that the average profitability per month for the first 3 years will be sufficient. However, we have current borrowing from the Bank of America to be paid off in 3 years. Most of the companys liabilities come from management investment.Expected Activities of General Bank AccountInitial Deposit of US$1000 by Bank of Toronto Official check was made. Then wire funds of nearly US$300,000 from securities account were made. To prove the origin of funds, account documentation will be provided.Required Banking Services include savings account, checking account, online banking, and secured credit card and debit card.Note how each and every bit of information provided here, helps create a story around the company and engages the customer.You can learn more about how to similarly create, and manage, a strong brand with this course.Example 2:ABCKH, Inc.Company Information and Contact Details Business Name: ABCKH, Inc. Business Address: 1240 North Expressway,Arizona Phone: 111-222-8900 Fax: 111-333-444 Annual Sales: $75 million Total number of Employees:50 Number of Employees at Head Office: 11 Primary Line of Business: Wood ProductsManagement Directory John Smith, President and Chief Executive Officer Jane Smith, Vice President of Product Development Sarah Jane, Vice President of Sales NoelRichards, Human Resources Executive KarlaLouis, Plant ManagerCompany OverviewABCKH is considered as one of the leading supplier of fibreboard products in North America with 10 offices across the globe, including the head office in Arlington, VA. The company also has operations in the Middle East countries, carrying out work in the construction of new kilns.Company NewsABCKH Exports Increasing in China, International Digest, November 5, 2009.According to the market analysts, exports from ABCKH facilities in China will exceed the forecast and is expected to see a huge demand in numerous cities of America over the next 5 years.ABCKH chief executive officer, John Smithhas announced construction of new manufacturing units in different states of the U.S. states, that are expected to add several new jobs to the region.Industry InformationThe following document provides information related to the industry for SIC 2576.Background and DevelopmentThe first market opportunities for designing fibreboard on a commercial basis began with the requirement of high strength resins by chemical industry. In 2000, the shipments of particleboard and fibreboard were estimated to be $5 billion, which increased to $25 billion by 2010..Present ConditionsSouth Carolina is the leading manufacturer of reconstituted wood and related products. The primary target for U.S exports is the Asian furniture market.Industry Leaders: ABC large board, Inc. is the largest manufacturer of fibreboard, which is one of the best re-constituted wood products. The companys sales in 2010 totalled $50 billionWorkforceNearly 30,000 employees are employed in the wood products industry and the number is expected to increase in the coming years. Though there was a slight decline in the past 2-3 years, more and more people are seeking employment opportunities in the reconstituted wood product industry.Key ProcessesLatest technology and manufacturing equipment has improved the quality of reconstituted wood products. Even the fibreboards are being made fine with advanced equipment. Some of the technological innovations include resin recipes, wood preparation, and panel sanding and press technology.Manufacturing of fibreboards starts with the selection of raw materials, where most of the raw materials are chips that are reclaimed from plywood plants. The raw material is cleaned using magnet. Next, the material is ..These are few examples of well-written company profiles that not only give the required information to prospective customers but also provide an insight into the industry that the business operates in. Creating your company profile can be easy, if youre clear about your business strategy and customer segment.Learn more about creating a good business strategy with this course.Tips to Write an Effective Company ProfileSince the company profile acts like an ambassador of the policies and working style of a business, a few tips as mentioned below will help in creating a company profile of top-notch quality: It is advised to start the company profile with a focused introduction that reflects the management style Dont make use of idioms and phrases. It is always better to state the mission statement clearly Define the policy of the company by keeping the terms catchy and ideal for target customers Make use of proper format, font and style, as referred in different authenticated sources. Keep the business profile up-to-date. Review and revise the company profile as and when required.In this competitive world, what your company needs is a winning horse. Business owners and managers often think that a sophisticated profile can bring more number of clients than the one written in simple language. This is a misconception, as a company profile that is loaded with heavy language is often difficult to understand and create disconnect with the audience. The uniqueness of a well written company profile not only leaves a good impression on the minds of the readers but can also provide you with the essential wings to fly high in the business world.

Referenceshttps://blog.udemy.com/company-profile-examples/