Business Studies - Junior Secondary 3 - Drawing a simple single business plan

Drawing a simple single business plan

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TERM: 1ST TERM

WEEK SEVEN

Class: Junior Secondary School 3

Age: 14 years

Duration: 40 minutes of 5 periods each

Date:

Subject: BUSINESS STUDIES

Topic: DRAWING A SIMPLE SINGLE BUSINESS PLAN

SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to

I.)  Define business plan

II.)  Describe the procedure for drawing up simple single business plan

III.) Draw up a simple single business plan

INSTRUCTIONAL TECHNIQUES: Identification, explanation, questions and answers, demonstration, videos from source

INSTRUCTIONAL MATERIALS: Videos, loud speaker, textbook, pictures,

INSTRUCTIONAL PROCEDURES

PERIOD 1-2

PRESENTATION

TEACHER’S ACTIVITY

STUDENT’S

ACTIVITY

STEP 1

INTRODUCTION

The teacher explains the meaning of business plan and discuss the procedure for drawing up simple single business plan

Students listens attentively to the teacher                                                                          

STEP 2

EXPLANATION

Teacher guide students to draw up a simple single business plan

Students exhibit attentiveness and active engagement

STEP 3

NOTE TAKING

The teacher writes a summarized

note on the board

The students

copy the note in

their books

 

NOTE     

DRAWING A SIMPLE SINGLE BUSINESS PLAN

A business plan is a formal document that outlines the goals of a business and the strategies to achieve those goals. It serves as a roadmap for entrepreneurs, guiding them through the various stages of starting and managing their business. A well-written business plan typically includes sections on the business's mission, market analysis, products or services offered, marketing strategies, operational plan, financial projections, and management team.

Procedure for Drawing Up a Simple Single Business Plan

Drawing up a simple business plan involves several key steps to ensure clarity and feasibility of your business idea. Below is a structured approach:

  1. Executive Summary:

 Summarize the key points of your business plan, including the business idea, market opportunity, goals, and financial projections. This section is typically written last but appears first in the plan.

  1. Business Description:

Provide an overview of your business idea. Describe your products or services, target market, unique selling proposition (USP), and the problem you are solving in the market.

  1. Market Analysis:

Conduct market research to understand your industry, target market demographics, trends, and competitive landscape. Identify your target customers and their needs.

  1. Marketing and Sales Strategy:

Outline how you will market your products or services to reach your target audience. Include details on pricing, distribution channels, promotions, and sales tactics.

  1. Operational Plan:

Detail the operational aspects of your business, including location (if applicable), facilities, equipment, suppliers, and logistics. Describe your production process and any technology you will use.

  1. Management and Organization:

Describe the legal structure of your business (sole proprietorship, partnership, corporation, etc.) and introduce your management team. Highlight their qualifications and roles.

  1. Financial Plan:

Present your financial projections, including income statements, cash flow statements, and balance sheets for the first three to five years. Include assumptions used in your projections.

  1. Appendices

Include any additional information that supports your business plan, such as resumes of key team members, market research data, product photos, or legal documents.

EVALUATION: 1. What is a business plan?

  1. Discuss the procedure for drawing up simple single business plan

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively