Question Description
Business Plan Part 1:
SWOT Analysis and Business Plan Proposal
The purpose of this assignment is to conduct an external assessment to determine an appropriate strategic goal for an organization.
A SWOT analysis is part of strategy formulation that leads to goal setting and then progresses to the development of a business plan. Using the organization selected in Topic 1 (MAYO CLINIC), complete the “SWOT Analysis Template.” Note that the results of the SWOT analysis should be used to develop the “Strategic Goal(s)” section of template. Strategic goals will be the focus of your proposed business plan. Each section of the SWOT analysis should contain a minimum of four bullet points, each supported with a credible source. The SWOT analysis bullet points should contain clear statements that make sense to those who are unfamiliar with the selected organization.
While APA style is not required for the body of this assignment, solid academic writing is expected, and documentation of sources should be presented using APA formatting guidelines.
Business Plan Part 2:
Financial Analysis and Budget
The purpose of this assignment is to complete a financial analysis to develop a proposed budget for a selected strategic initiative.
Understanding the role of financial management in strategic planning is essential in formulating a business plan for a strategic initiative. Financial analysis involves considering the factors that directly affect the initiative such as staffing, space, equipment, training and education, etc. Once this information is known, a budget can be proposed for the strategic initiative and included as part of the business plan.
For this assignment, complete a financial analysis of your selected organization by reviewing current company financial data such as income statements, budgets, net revenue, profit/loss statements, etc. Use that information and research about key budget items such as average salaries, cost of benefits, space and equipment costs, etc. to formulate a proposed budget for your strategic initiative.
In a 250-500 words, address the following in the form of an executive summary:
Briefly describe the proposed strategic initiative including the proposed changes and expected outcomes based upon the results of the SWOT analysis.
Provide a simple budget for the strategic initiative. Include all relevant budget categories such as staffing (including salaries and benefits), space, equipment, training and education, and any other expenses related to the initiative. Create a table to efficiently present the key budget information.
Provide a financial data overview that summarizes what financial data you examined and a description of specific factors that informed each financial statement (net revenue, profit/loss, balance sheet, etc.).
Include at least one of the financial statements available from the selected organization (income statement, budgets, net revenue, profit/loss statements, etc.) as a figure or an appendix.
While APA style is not required for the body of this assignment, solid academic writing is expected, and documentation of sources should be presented using APA formatting guidelines.
