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Assignment 1: Literature Review – Strategic Management Business Plan

Strategic management business plan

Length: 7 – 12 double-spaced pages

Students may find that they need to use more pages to cover the assignment.Due:Week 2 by Sunday Midnight (PST)Post:Week 2 Assignments Folder Points: Once you have received approval for your innovation from your instructor you can begin the Literature Review. Approval for your innovation has to be sought through the Discussion Threads – not by emailing your instructor. This assignment provides the foundation for a good strategic management Business Plan. Work put in at the beginning of this process will pay off later. Weak or insufficient Literature Reviews often create difficulties for students in Weeks 5 – 8 of the term.

It is critical that as you write the strategic management Business Plan to incorporate citations from the text books used in the BBA program. Do not copy and paste from your (or others) assignments from previous classes (that is an Academic Integrity Violation). But do apply and cite the concepts from what you have learned.

Remember your innovation will fill a need in a specific community (perhaps the one you live in or want to live in). Your innovative idea should be practical, financially viable, and executable. In other words, you could not develop a new car line for Ford or a whole new chain of hotels for Marriott in an eight-week term.

Once you have chosen a Fortune 500 company and that you want to develop an innovation for that would bring value to your community. This is a ranking of the Fortune 500 companies: http://money.cnn.com/magazines/fortune/fortune500/. Listen carefully to your instructor, as you will need his/her approval before you can begin your literature review. Eventually in this class you will have to be able to prepare all of the financials and show the marketing, operational, financial, and strategic management business plans for your innovation – so choose your innovation wisely.

Remember you will continue to research throughout this whole term and continue to gain knowledge. This initial research for the Literature Review will help to determine the viability of the strategic management Business Plan innovation so that you will not get to Week 5 of this term and find a “fatal flaw” in the Business Plan idea and have to start over (this has happened and it is almost impossible to recover from).

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Introduction

In one (1) page, briefly describe the different opportunities and threads for your proposed innovation. You are to provide appropriate background information. The introduction is about a page long.

Literature Review

In a minimum of seven (7) pages with a minimum of four (4) subheadings (Fortune 500 company, innovation, demographics of customer, location viability, financial viability). Synthesize 15 or more scholarly and business sources (Wall Street Journal, New York Times, Harvard Business Review, Forbes, Bloomberg, Fast Company, Wired, etc.). Most of these business sources are available from the Brandman Library. You need a combination of both scholarly and business sources. You may want to include data from lawsuits especially those that relate to the industry, the opportunity and the competition.

Fortune 500 company: Demonstrate with data that the proposed innovation is a logical, necessary, or interesting choice for the company. Show that the Fortune 500 company has the financial backing to support the innovation that the innovation connects in some way to their mission and vision. Also, show how this will create a new revenue stream for the Fortune 500 company.

Innovation: Describe with data driven analysis (citation) what the innovation is and how this is truly an innovation and not just an extension of the existing business. For example,opening a Gap store in a new location is not an innovation as it is an extension and does not meet the criteria for a Business Plan topic. An innovation is NEVER offering training to the Fortune 500 company or any type of consulting as these do not meet the criteria for this capstone class. You can do something that has been done before, but it has to be done with significant process improvements (faster, cheaper, new target market, etc.).

Customer Demographics: Research and cite information about the potential customers for your business. So use .gov data for that search: http://www.usa.gov/. Prove with data that your target market is purchasing similar items, would have an interest, and has the means to pay for it. This is critical information as you are showing that the innovation will “sell”.

Location of your strategic management Business Plan: This is to be tied to a location that is specific and identified. Information on this location will need to be cited. You will need to show data to support that there is sufficient land, manpower, need, and desire. All of this is to be supported by data (Chambers of Commerce, .gov on the location, etc.). You can also use the official city website for data.

Financial viability: Is to beclearly cited. Research here is to prove that this innovation can bring value to the marketplace, hence financial viability. It is not sufficient to build a Business Plan that just brings “good will” as that is too hard to measure. The business plan must show that there is a Return on Investment for the innovation. If you need help calculating ROI here is a guide:http://www.investopedia.com/articles/basics/10/guide-to-calculating-roi.asp strategic management business plan

Remember you will want to use the Brandman Library found on the front page of www.My.Brandman.edu (see Library Icon on the right). See the Handout in Course Information on Library Research Sources. You will also want to have citations from Wall Street Journal, New York Times, Harvard Business Review, Forbes, Bloomberg, Fast Company, Wired, etc. strategic management business plan.

Conclusions

In one to two pages*, draw your conclusions as to how the data supports your innovation. Your conclusions need to be supported by findings in the Literature Review so make your Literature Review as rich as possible. Do not write a “marketing piece” for innovation, look to see what the data indicates. A good first line for a strategic management Business Plan is, “There is a need” and then spend the next 40 to 75 pages showing how you will fill that need. In the literature review you determine what the need is and how you will fulfill that need.

strategic management business plan

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