Title: Identify components and purposes of an established business plan.
Course: Digital and Social Media Marketing (12162) > Section: Executing a Digital Marketing Campaign

Identification should include

- the purposes of a business plan
  - to provide the detailed information needed for acquiring capital
  - to lay the foundation for business development and expansion
  - to serve as a road map for the business to follow
- the structural components of a business plan and their importance
  - executive summary
  - type of business
  - business philosophy
  - product and service plan
  - self-analysis
  - trading area analysis
  - market segment analysis
  - operational plan
  - organizational plan
  - marketing plan
  - financial plan.

Process/Skill Questions:

- What preparation factors into the business plan?
- Why does one need to conduct research to write a business plan?
- What business opportunities require a business to have a business plan?
- Who reviews the business plan for a company? How often is a business plan revised/reviewed?
- What types of information are included in the market segment analysis section?
- Why is the financial plan considered one of the most important parts of a business plan?
- How does a business plan help guide decision-making in a company?

Teacher Resource: Write your business plan, U.S. Small Business Administration