Business Plan (DP IB Business Management)

This section provides an overview of the business idea, its unique selling proposition, target market, and financial projections

• It should be concise yet compelling enough to grab the reader's attention

A description of the business mission, vision, and values
Information about the legal structure, location and any unique advantages or intellectual property the business may have

A thorough analysis of the target market, including its size, growth potential and key trends

Identification of target customers and their needs

A competitor analysis to understand their strengths and weaknesses

A detailed explanation of the products/services the business will offer, highlighting their features, benefits and any competitive advantages they may have

A description of the intended marketing and sales approach, including marketing channels, pricing strategy and promotional tactics

A description of how customers will be attracted and their loyalty captured

An overview of the organisational structure of the business and the key members of the team, including their qualifications, experience and responsibilities

A description of how the business will operate on a day-to-day basis, including the production process, stock management and any key partnerships or suppliers

A detailed financial forecast for the business, including projected income statements, balance sheets and cash flow statements

An outline of funding requirements and any existing or potential sources of finance

A consideration of the potential risks and challenges the business may face and the intended strategies for mitigating them