Topic outline

  • Course Introduction

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    Since taking MEI606: Creativity and Ideation, you hopefully have a good business idea that you are ready to run with. The next step in your entrepreneurial journey is to create a business plan. There are many reasons why a business plan is needed. First, it puts all your ideas down and gives you a solid idea of where you want to go with your business. A business plan can also help you obtain financing. But, you may wonder, what aspects of a business plan should you consider? A business plan normally includes a competitive analysis, an operations plan, a management plan, a marketing plan, budgets, and financial statements. When you put all of these elements together, you end up with a comprehensive plan you can use. This course will walk you through the steps of creating these business plan elements, so by the end of the course, you will be ready to create your own plans. Are you ready to get your business going? Let's get started.

  • Unit 1: First Steps in Planning Your Business

    Before you begin writing a business plan, there are some things to consider. First, it is important to understand the reason for writing a business plan and ensure you have considered any ethical issues. Next, you'll want to select the right business model for your type of business and prepare to write the plan. For example, there are some questions to consider before you start writing, such as formatting and developing your business idea.

    Completing this unit should take you approximately 11 hours.

  • Unit 2: The Competitive Analysis

    As you think about what makes your business unique, you'll want to perform a competitive analysis as part of your business plan. You can use many tools to determine competitive analysis, some of which you already know, such as SWOT analysis. Once you understand your competition and what makes you different, you'll want to consider the external and internal environments you'll be operating in to help guide your plan. That is the focus of this unit.

    Completing this unit should take you approximately 5 hours.

  • Unit 3: Operations Planning

    This unit addresses the methods you will use to execute your business model. The operations plan considers things like choosing the right business structure, using technology in your business, and, if you are producing a product, what you should consider about the production process. We will also address organizational structure and how it can support your operations.

    Completing this unit should take you approximately 12 hours.

  • Unit 4: Management and Marketing Planning

    The management and marketing plans are an important part of your business plan. The management plan addresses cultivating the right mix of people to assist you with your business and things to consider about managing people you hire. The marketing plan addresses how you will sell your product and who you will sell it to. For example, we will look at how to select a target market and create a mix of ways to market to your target market.

    Completing this unit should take you approximately 7 hours.

  • Unit 5: Financial Statements and Entrepreneurial Finance Planning

    Many people groan at the thought of "doing numbers", but don't worry. This unit will be straightforward on the types of numbers you need to complete your business plan. These often consist of draft financial statements, forecasts, and budgets. Even if you decide not to create these for yourself, you should be able to speak to things like how many units or hours you expect to sell a particular product or service. This information will help you know how much profit you can expect in the coming years.

    Completing this unit should take you approximately 7 hours.

  • Unit 6: Other Business Planning Elements

    Now that you understand the elements required for the business plan, this unit will address some other considerations, such as how to make the plan realistic. In this unit, you will also learn about the other elements of a business plan, such as the executive summary, and how to write them. You will also learn how to start writing your business plan.

    Completing this unit should take you approximately 15 hours.

  • Study Guide

    This study guide will help you get ready for the final exam. It discusses the key topics in each unit, walks through the learning outcomes, and lists important vocabulary. It is not meant to replace the course materials!

  • Final Exam Preparation

    These case studies are an excellent way to review what you've learned so far and are presented by one of the professors who created the course. Review these materials before you take the final exam.

  • Final Exam

    • Practice Final Exam

      Take this practice exam to help you get ready for your final exam. This exam can be taken as many times as you like, and it will cover topics similar to the final exam. We recommend that you take a look at the practice final exam before proceeding to the final exam because you will only have three tries to pass the final exam with an 80% or above.

    • Proctored Final Exam

      Take this Proctored Final Exam to complete this course.

      The exam requires a proctor and a proctoring fee of $5. To pass this course, you will need to earn a grade of 80% or higher on the Proctored Final Exam. Your grade for this exam will be calculated as soon as you complete it.

      If you do not pass the exam on your first try, you can take it again up to a maximum of 3 times, with a 30-day waiting period between each attempt. You may not create another account to exceed these limits. After your third failed attempt you will not be able to pass this course, so we recommend taking the Practice Final Exam as many times as you need to feel comfortable.

      We are partnering with SmarterProctoring to help make the proctoring fee more affordable. We will be recording you, your screen, and the audio in your room during the exam. This is an automated proctoring service, but no decisions are automated; recordings are only viewed by our staff with the purpose of making sure it is you taking the exam and verifying any questions about exam integrity. 

      Requirements:

      1. Desktop Computer
      2. Chrome (v100+)
      3. Webcam + Microphone
      4. 1mbps+ Internet Connection

  • Course Feedback Survey

    Please take a few minutes to give us feedback about this course. We appreciate your feedback, whether you completed the whole course or even just a few resources. Your feedback will help us make our courses better, and we use your feedback each time we make updates to our courses. If you come across any urgent problems, email contact@saylor.org.

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