The Business Plan is aimed at Covidien Healthcare. Their corporate office is located in Mansfield, Massachusetts.Covidien is a manufacturer and distributor of medical products. They have production and distribution centers located throughout the U.S. and the world. Their planners who are located in Mansfield, are required to travel out to the distribution cites on a regular basis. Because they travel on short notice the majority of the time, they typically pay a premium for airfare. Being the corporate headquarters, management is also frequently flying on short notice. Be sure to compare a couple of corporate jets that would fit Covidien?s needs.
This course will require you to put together a business plan of 15 ? 20 pages (most business plans are usually three to four times this size). The business plan must be geared to corporate aviation and include a minimum of the following elements:
1.)A title page including your name, class, and whom the business plan is written for (e.g. XYZ Corporation).
2.)An executive summary of no more than three paragraphs outlining the key action points of the plan.
3.)A section including key personnel to accomplish the business plan.
4.)The plan itself with justifications.
5.)Marketing analysis and strategy.
6.)Financial analysis including costs, rationale, and projected revenues (the bottom line).
The following are suggestions for building the executive summary:
1.)Try to encapsulate the business plan in one paragraph. If necessary, limit yourself to three paragraphs.
2.)Develop one key sentence that serves as a type of thesis statement for your business plan. For example, ?We will demonstrate that the purchase of a refurbished Citation II business jet will be cost effective, improve the company’s ability to meet with clients, and increase employee productivity.?
3.)You need to include one to two sentences of financial information. Venture capitalists have told me that they focus immediately on the financial sentences in the executive summary and if they aren’t clear enough, toss the business plan in the trash. For example, ?This business plan demonstrates a total cost over three years of $3.7 million but a gross improvement in productivity from reduction in use of traditional airline travel of $4.2 million.?
4.)Make sure the grammar is perfect.
The following are major areas of focus you should develop as part of your business plan outline:
1.)Who is the intended audience? Is it a venture capitalist or existing business? Is it for bankers?
2.)How much time does your audience have and what kind of detail do they need?
3.)Is your audience already educated about the type of business? They might know more about it than you.
4.)Do the financial details and research match the conclusions and core ideas of your plan?
5.)Who are the key people that will make the plan happen?
6.)Are you effectively using the business plan process to objectively look at the chance of success? Don’t inflate your numbers.
7.)Do you have good graphics and a presentation that support and don’t distract?
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