Business-HR Capstone
1) a high level outline of the task and my own specific instructions; 2) a template with detailed instructions in an outline format; 3) and an Excel file with financial data for section F. Please refer to the instructions document for details
BUSINESS CAPSTONE INSTRUCTIONS and FINAL CHECKLIST
Instructions/Comments:
• APA format, double spaced
• Use Word Table of Contents tool and ensure pages align
• A Word template with detailed instructions and an outline is attached; I suggest starting from scratch as the template contains numerous formats
• The paper should be similar to the template – in an outline format with an outline reference preceding each section (for example, A1. Executive Summary, Business Identification: )
• No sources are required, but I have provided sources and examples for reference. Only the following sources are allowed if any sources are used:
o Successful Business Plan: Secrets & Strategies (5th ed.) by Rhonda Abrams (e-text)
o www.hr.com
o www.about.com
o Sample Business Plans: http://www.bplans.com/sample_business_plans.php
o Small Business Administration: http://www.sba.gov/
o No more than 25% combined total can be directly quoted or closely paraphrased, even if cited correctly.
• An Excel file of financial info for section F is attached.
o I have already completed sections F1 and F2 of the spreadsheets, but the numbers are hypothetical and can be changed to support the business plan if necessary.
o Section F3, Forecasted Balance Sheet, is the only portion of the spreadsheet to be completed.
o The assumption is that initial start-up costs result in loss for first few months, break-even point between March and April, then profit gradually increases.
Task/Scenario:
• Develop a hypothetical business plan for a start-up company
• The audience for the business plan is potential investors
• The company name will be called HROneStop and it is a corporation
• All operations are U.S. based and headquarters is located in San Antonio, Texas.
• The company offers HR outsourcing services and specializes in benefits administration for small companies.
• Services include consumer-driven health care (medical & dental), flexible spending account & tuition reimbursement, etc…
• The company offers customer service via a contact center (phone, web and email support).
High Level Outline:
A. Write an executive summary (suggested length of 1 page) in which you:
1. Identify the business name and location.
2. Describe the mission, goals, and objectives of the business.
3. Discuss three keys to the company’s success.
B. Write a company summary (suggested length of 4 pages) in which you:
1. Describe the history of the industry in which the company will operate.
2. Identify the legal form that the company will take.
3. Describe the location and type of facilities needed for the company.
4. Describe the management structure, including key personnel and positions.
5. Describe the products and services offered by the company.
C. Develop a market analysis (suggested length of 3 pages) in which you:
1. Describe the target market for the company’s products and services.
2. Complete an industry analysis for the company.
3. Complete a competitive analysis.
D. Develop a market strategy (suggested length of 4 pages) in which you:
1. Discuss the four Ps of marketing as they relate to company products and services.
2. Develop a price list for the company’s products and services.
3. Develop a selling strategy with specific goals, milestones, and deliverables.
4. Develop a sales forecast based on expected market conditions.
E. Develop an implementation strategy (suggested length of 3 pages) in which you:
1. Summarize your overall strategy for successfully launching your business.
2. Outline target dates, goals, and objectives for implementation.
3. Develop a control plan to be used to evaluate the success of the company in meeting milestones.
F. Calculate & develop the financial statements & projections (see attached Excel) for the 1st year of business by doing the following:
1. Develop a month-by-month estimate of revenues and operating costs based on the sales forecast.
2. Develop a forecasted profit and loss statement.
3. Develop a forecasted balance sheet.
G. Write a financial report (suggested length of 2 pages) in which you:
1. Summarize the financial projections and the assumptions used in estimating the projections. Provide the following in your report:
a. Estimated break-even point
b. Company’s financial position at the end of year 1
c. Estimated capital/investment needs
H. When you use sources, include all in-text citations and references in APA format. When using sources to support ideas and elements in a paper or project, the submission MUST include APA formatted in-text citations with a corresponding reference list for any direct quotes or paraphrasing. It is not necessary to list sources that were consulted if they have not been quoted or paraphrased in the text of the paper or project.
http://www.apastyle.org
http://www.citationmachine.net
http://owl.english.purdue.edu/owl/resource/560/01
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Final Checklist Before Submission
A2: Make sure your goals and objectives are measurable.
A3: Be sure to list the three keys to success for your new company and discuss each key in enough detail to prove your competence in this area.
B1: Be sure to give an overview of the history of your industry. Key dates, real or invented, should show that you understand what has gone on in the past.
B3: Be sure to describe the facility you will be using. Mention square footage, location, ease of access, etc. If your business will be based out of your home, describe the space dedicated to the business. Mention any legal or regulatory issues associated with your location. These could be licenses, variances, permits, etc.
C2: The industry history (B1) talks about what has happened in the past but the industry analysis is what is going on with your industry in the present. Mention current growth trends, future dates that may enhance the industry’s growth, etc. If there are any government regulations that may affect the industry, mention those in this section.
D3: The Selling Strategy should be an expansion of the “Promotion” P in the four P’s of Marketing. Be sure to include the goals/objectives, the person responsible, and the date those activities should be completed. Many students use a “table” to show this information.
D4: Don’t forget to mention the “market conditions” in conjunction with the sales forecast. Is your product seasonal? If so, that is an example of market conditions. Remember that the 12 month sales projections in revenue will be repeated in sections F1 and F2. For example, if you show $10,000 in your sales forecast for the month of January, then that $10,000 will show again as revenue in F1 and in F2 for that same month.
E1: This aspect refers to all of the activities that need to happen to launch the business.
E2: Include the goals and objectives and target dates for launching the business.
E3: The Control Plan should show what measures will be in place AFTER launch to make sure you are making your projections. Mention a schedule of meetings to review performance, who will attend, what will be discussed, and what happens if projections are not being met. Other control measures could include surveys to customers, other customer outreach activities, etc. The Control Plan could also include the tools that will be used to compare data, reports, etc.
F1: This statement only needs 12 months of Revenue and 12 months of Expenses with little or no detail. As mentioned above, the revenue will match the sales forecast created in D4.
F2: This financial statement expands F1 and gives the detail. Typically, the Revenue will not change much, but the detail of where the expenses are coming from needs to be included. Be sure to use the Financial Templates found in the Course of Study.
F3: The Balance Sheet needs to balance. That means that the top half total that deals with assets, such as cash, inventory, real estate, equipment, vehicles, and accounts receivable, needs to be the same number as the total for the bottom half. The bottom half deals with the liabilities, such as accounts payable, loans, and payroll. The difference between the two, total assets minus total liabilities is figured to be the net worth or owner’s equity. Take a look at the document “Learning Resources for the Financial Portion” found in the community under “Recent Documents”. If the total for Assets is different from the total for Liabilities and Owner’s Equity, the work will be returned for revision. Make sure the math is done properly.
Section G: The biggest issue in this section is the Break-Even Point. Providing a line chart tends to be a better way to demonstrate competence in lieu of the Break-Even Point formula mentioned in the Course of Study.
Remember that the Break-Even Point is the moment in time when the “running or cumulative” total of your expenses is equal to the “running or cumulative” total of revenue. The evaluator will use the forecasted P&L statement to see if these numbers have been calculated correctly. Many students will create a line chart to show when this occurs. You would show two lines, one line is revenue and the other line is expenses. The dollars are represented on the Y-axis (left side the chart) and the period of time (Jan-Feb-March, etc.) on the X-axis (the bottom of the chart). You are using “running” totals for both. At the point when the two lines intersect, or equal each other, that is the month or “moment in time” when your new enterprise breaks even. In other words, in the very next moment in time, you will be making a “true profit”. If you want to refresh your memory of how to create a line chart, go to the WGU Student Portal, click on the “Resources” tab, then “Library” then “Lynda.com”. Do a search for “Creating a simple Line chart” and there are many short videos that can help you create your chart using the information in Excel.
Revenue & Expenses January February March April May June July August September October November December
REVENUE (Sales): $300,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,100,000 $1,200,000 $1,500,000
OPERATING EXPENSES: $650,000 $450,000 $450,000 $500,000 $500,000 $500,000 $550,000 $550,000 $650,000 $650,000 $700,000 $700,000
Total: -$350,000 -$150,000 -$50,000 $0 $100,000 $200,000 $250,000 $350,000 $350,000 $450,000 $500,000 $800,000
Jason Young
Business-Human Resources – Capstone Business Plan
HROneStop Business Plan
Jason Young
CEO
123 East Street
San Antonio, TX 78205
(210)545-1111
www.HROneStop.com
HROneStop@domain.com
October 25, 2014
A. Executive Summary 3
A1. Business Identification: 3
A2. Mission, Goals and Objectives: 3
A3. Keys to Success: 3
B. Company Summary 3
B1. Industry History: 3
B2. Legal Form of Ownership: 3
B3. Location and Facilities: 3
B4: Management Structure: 3
B5. Products and Service: 3
C. Market Analysis 3
C1: Target Market 3
C2: Industry Analysis 3
C3: Competitive Analysis 3
D. Market Strategy 3
D1: 4Ps. 3
D2: Price List- 3
D3: Selling Strategy- 3
D4: Sales Forecast- 3
E. Implementation Strategy 3
E1. Overall Strategy- 3
E2. Implementation- 3
E3. Control Plan- 3
F. Financial Statements and Projections 3
F1. Revenue and Cost Estimate- 3
F2. Forecasted Profit and Loss Statement 3
F3. Forecasted Balance Sheet- 3
G1. Financial Projections 3
G1a- Breakeven Point- 3
G1b-Financial Position: 3
G1c-Capital/Investment Needs: 3
References 3
A. Executive Summary (1 page) – A brief synopsis highlighting the key facts, issues, and conclusions.
A1. Business Identification: Include the business name and location, a brief summary of the business concepts and the purpose of the business plan.
A2. Mission, Goals and Objectives: Explain the goals and objectives you have outlined for your company. Make sure your goals and objectives are measurable.
A3. Keys to Success: Include what you think will be your 3 main keys to success in the new operation. Be sure to list the three keys to success for your new company and discuss each key in enough detail to prove your competence in this area.
B. Company Summary (4 pages) – Describe the history of the origins of your business.
B1. Industry History: Describe the industry in which the business will operate. Be sure to give an overview of the history of your industry. Key dates, real or invented, should show that you understand what has gone on in the past.
B2. Legal Form of Ownership: Describe the ownership and legal establishment of the company, (i.e. specifying whether your company is a corporation, partnership, sole proprietorship, limited liability partnership, etc.).
B3. Location and Facilities: Describe the geographic location of your business including where the products/services will be produced. Identify any regulatory or legal Issues your company needs to consider now or in the future in reference to the location and/or facilities. Be sure to describe the facility you will be using. Mention square footage, location, ease of access, etc. Mention any legal or regulatory issues associated with your location. These could be licenses, variances, permits, etc.
B4. Management Structure: Include the key personnel and positions.
B5. Products and Service: Explain the primary product(s) and/or service(s) your company produces and any unique attributes they may have.
C. Market Analysis (3 pages) – The market analysis section of your business plan should demonstrate that you know your customers.
C1. Target Market: Describe the current market for your company’s product.
C2. Industry Analysis: Discuss the characteristics of this industry such as growth trends, units sold, or employment. The industry history (B1) talks about what has happened in the past but the industry analysis is what is going on with your industry in the present. Mention current growth trends, future dates that may enhance the industry’s growth, etc. If there are any government regulations that may affect the industry, mention those in this section.
C3. Competitive Analysis: Describe your company’s current competition.
D. Market Strategy (4 pages) – Describe how product, price, place and promotion related to the products/services offered by the business.
D1. 4Ps: Discuss the pricing, product, promotion and distribution of your product
D2. Price List: Develop a price list for the products/services offered.
D3. Selling Strategy: Develop a selling strategy with goals, milestones and deliverables. The Selling Strategy should be an expansion of the “Promotion” P in the four P’s of Marketing. Be sure to include the goals/objectives, the person responsible, and the date those activities should be completed. Many students use a “table” to show this information.
D4. Sales Forecast: Develop a Sales forecast based on expected market conditions. Do not forget to mention the “market conditions” in conjunction with the sales forecast. Is your product seasonal? If so, that is an example of market conditions. Remember that the 12-month sales projections in revenue will be repeated in sections F1 and F2. For example, if you show $10,000 in your sales forecast for the month of January, then that $10,000 will show again as revenue in F1 and in F2 for that same month.
E. Implementation Strategy (3 pages) – Outline how you will launch the business and evaluate the business’s success of failures
E1. Overall Strategy: Summarize your overall strategy for successfully launching the business. This aspect refers to all of the activities that need to happen to launch the business.
E2. Implementation: Outline your target dates for implementation along with your goals and objectives.
E3. Control Plan: Develop a control plan to be used to evaluate the success of the company in meeting milestones. The Control Plan should show what measures will be in place AFTER launch to make sure you are making your projections. Mention a schedule of meetings to review performance, who will attend, what will be discussed, and what happens if projections are not being met. Other control measures could include surveys to customers, other customer outreach activities, etc. The Control Plan could also include the tools that will be used to compare data, reports, etc.
F. Financial Statements and Projections (3 pages; attached Excel file) – Develop projected financial statements for the first year of business. Use the Business Plan Financials Template to prepare this section.
F1. Revenue and Cost Estimate: This is the first part of the profit and loss statement. You will estimate the revenue (sales) and expenses for the first 12 months of your business. This statement only needs 12 months of Revenue and 12 months of Expenses with little or no detail. As mentioned above, the revenue will match the sales forecast created in D4.
F2. Forecasted Profit and Loss Statement: (Month by month for 1st 12 months) – This financial statement expands F1 and gives the detail. Typically, the Revenue will not change much, but the detail of where the expenses are coming from needs to be included. Here you will consider the sales forecast, the operating expenses, and the profits. Take the month-by-month revenue estimates of sales and expenses from the revenue and cost estimate (F1) and include interest expense to obtain a profit projection for your first year of operations. It will reveal net profit (obtained from subtracting the interest expense from the profit before interest). The profit before interest is calculated by subtracting total expenses from total revenue. Examples of expenses may include:
Salary expenses
Payroll expenses
General and administrative
Marketing and Advertising
Accounting and legal
Utilities
Insurance
Taxes (real estate, etc.)
Other expenses (specify)
F3. Forecasted Balance Sheet: This statement deals with cash and income and also with assets, liabilities, and capital. The balance should result in the debit and credit balances ending up equal. The Balance Sheet needs to balance. That means that the top half total that deals with assets, such as cash, inventory, real estate, equipment, vehicles, and accounts receivable, needs to be the same number as the total for the bottom half. The bottom half deals with the liabilities, such as accounts payable, loans, and payroll. The difference between the two, total assets minus total liabilities is figured to be the net worth or owner’s equity. Take a look at the document “Learning Resources for the Financial Portion” found in the community under “Recent Documents”. If the total for Assets is different from the total for Liabilities and Owner’s Equity, the work will be returned for revision. Make sure the math is done properly.
G. G1. Financial Projections (2 pages) – Summarize the financial projections and the assumption used in estimating the projections in section F. The biggest issue in this section is the Break-Even Point. Providing a line chart tends to be a better way to demonstrate competence in lieu of the Break-Even Point formula mentioned in the Course of Study.
Remember that the Break-Even Point is the moment in time when the “running or cumulative” total of your expenses is equal to the “running or cumulative” total of revenue. The evaluator will use the forecasted P&L statement to see if these numbers have been calculated correctly. Many students will create a line chart to show when this occurs. You would show two lines, one line is revenue and the other line is expenses. The dollars are represented on the Y-axis (left side the chart) and the period of time (Jan-Feb-March, etc.) on the X-axis (the bottom of the chart). You are using “running” totals for both. At the point when the two lines intersect, or equal each other, that is the month or “moment in time” when your new enterprise breaks even. In other words, in the next moment in time, you will be making a “true profit”.
G1a. Breakeven Point: Include an estimate of income and expenses. It determines whether your business will bring in enough money to meet its costs. This method is used to determine the exact point at which the business makes neither takes a loss nor makes a profit. It is calculated at a point where sales have grown at a greater rate than costs and the two lines cross.
G1b. Financial Position: Include the estimated financial position of the company at the end of the first year and the estimated capital/investment needs. Make sure to include any assumptions you used in estimating this information.
G1c. Capital/Investment Needs: Estimate the capital and investment needs for your company. Be sure to discuss any equity contributions your company will need along with other startup costs required.
References
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