Complete the Business and Industry Profile and the Business Strategy. (attached is the vision and mission statements and company history if needed for background info).
Industry Profile and Overview:
Industry Analysis-Facts about your industry:
- What is the total size of your market?
- Key Success Factors
- What percent share of the market will you have? (This is important only if you think you will be a major factor in the market.)
- Current demand in target market.
- Trends in target market—growth trends, trends in consumer preferences, and trends in product development.
- Growth potential and opportunity for a business of your size.
- What barriers to entry do you face in entering this market with your new company? Some typical barriers are:
- High capital costs
- High production costs
- High marketing costs
- Consumer acceptance and brand recognition
- Training and skills
- Unique technology and patents
- Shipping costs
- Tariff barriers and quotas
- And of course, how will you overcome the barriers?
- How could the following affect your company?
- Change in technology
- Change in government regulations
- Change in the economy
- Change in your industry
- Your desired image and position in the market
- Company goals and objectives
- SWOT Analysis
- Competitive Strategy
- Cost Leadership