Design a Business plan based on a new venture (MEDICAL TOURISM AGENCY BUSINESS PLAN )

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Design a Business plan based on a new venture As per attached guideline

Our business Plane MEDICAL TOURISM AGENCY BUSINESS PLAN

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Entrepreneurship and New Venture Creation: BUSS 1011 - FALL2017: CW2-QP Coursework II: FALL2017 Group Project: Business Plan Module Title: Entrepreneurship and New Venture Creation Module Code:BUSS 1011 Max. Marks: 100 Level: 5 Duration: 7 Weeks Percentage of overall Marks: 40    KEY INSTRUCTIONS: 1. You should work in a group of 4-5 members or this project. 2. Follow the guidelines carefully before embarking on the project.    PRINCIPAL TASKS:    Design a Business plan based on a new venture.  SPECIFIC NOTES: 1. The business plan should be submitted through Moodle on or before the week 13. 2. The marks awarded for the Business plan will be the same for all members of a group. 3. Each group must present the ‘Pitch Deck’ in week 14. Page 1 of 7 Entrepreneurship and New Venture Creation: BUSS 1011 - FALL2017: CW2-QP 5. Presentation marks will be awarded individually to each member of the group, based on the evaluation done by 2 faculty members.  COURSE LEARNING OUTCOMES:  Upon completion of the assignment the students would be expected to have become competent as regards to the design of a Business plan.  INFORMATION ON THE REPORT STRUCTURE and SUBMISSION - The report should ideally have the following format: 1. 2. 3. 4. 5. 6. Cover page Table of Contents Executive Summary Key Deliverables Summary Appendices  Word Limit:  2500-3000 words  Font Style/Size: - Text: Times New Roman: 12 - Headings/Sub-headings: Your choice (Consistency is critical though!)  Spacing:   1.5 Submit through Moodle (Deadline to be announced with the submission link on Moodle). ASSIGNMENT RUBRICS:  ASSESSMENT ITEMS/DELIVEARBLES, DESCRIPTIONS AND MARKS: ASSESSMENT ITEMS/DELIVERABLES MARKS 1. Clarity, Style and Grammar The assignment should follow a ‘report’ format. An internationally acceptable presentation style must be adhered to with appropriate Grammar. Must avoid truncations and unnecessary spacing. The report must be consistent with regards to Page 2 of 7 5 Entrepreneurship and New Venture Creation: BUSS 1011 - FALL2017: CW2-QP the font style and size for both headings and the text; and proper punctuations must be used throughout. Use of Pronouns: Incorrect use of the 'Pronouns' in a report format (or an essay) would be costly. Avoid using 'I' (First Person Subject Pronoun/Singular), 'Me'(First Person Object Pronoun), 'My' (First Person Possessive Adjective), 'Mine' (First Person Possessive Pronoun), 'We' (First Person Subject Pronoun/Plural), 'You' (2nd Person Subject/Object Pronoun). Instead, you must consider the use of the 3rd Person Subject/Object/Possessive/Reflexive-Intensive Pronouns/Possessive Adjective). 2. Executive summary 10 This is an overview of your business plans.         Describe very briefly the rationale behind your business Briefly summarise what problems your business intends to solve Provide key information on your product/service Describe your target market very briefly List 2 key performance indicators (KPIs) Summarise briefly who your main competitors are Explain in short why your business would ideal for your customers Present the principal projected performance data in a graphical form (e.g., Charts) 3. Company Background 2 The company background provides a quick review of the company’s legal structure, location, capital structure and the people involved 20 4. Marketing plan Provide a summarised marketing plan. It should ideally include: Target market - Information on the target market with regards to:  Demographics  Psychographics  Behavioural patterns Product/Branding strategies: Brand identify creation strategy Pricing decisions: For each segment if you adopt a multi-segment or differentiated marketing strategy Page 3 of 7 Entrepreneurship and New Venture Creation: BUSS 1011 - FALL2017: CW2-QP   Distribution: The Channel Structure including number of channel members and the Channel System (e.g., Conventional vs Vertical Marketing Systems) Promotions: The types of promotions strategies to be used and the ‘Budget’ allotted to the Integrated Marketing strategies. 5. Operations/production plan 10     The physical premises/plant Equipment, assets and materials Describe how your product or service will be made (work-flow) Supply Chains: Describe what materials you’d have to acquire, how you’d store them and who your suppliers are  Quality Control: Describe how you’d use quality control/management tools 6. HR plan and Organisation Structure 8  Describe the type of structure you’d use  Describe the kinds (functional skills) and number of people you’d need  Compute the costs of recruitment 7. Key Milestones 3 Use the ‘Balanced Scorecard’ model to determine the metrics for each Milestone within the areas of the model (KPI’s need to be emphasized here in setting milestone) 8. The Major Financial Projections 20  Income Statement  Balance Sheet   Cash-Flow Statement Pay-Back Period Key Ratios  9. Summary 2 Summarise the main information presented in the text TOTAL MARKS FOR THE BUSINESS PLAN 80 Page 4 of 7 Entrepreneurship and New Venture Creation: BUSS 1011 - FALL2017: CW2-QP 80 TOTAL MARKS (BUSINESS PLAN)- to scale down to 40 marks  POLICIES: SUBMISSION, RESOURCES, PLAGIARISM AND FEEDBACK  1. Penalties for late Submission: Please note that 5% will be deducted from your assignment mark for each day (including weekends) that your assignment is late. Assignment handed in late will not be graded as per the institutions policy. 2. Learning resources: As provided in the Module Information Guide 3. Assignment submission Assignments must be submitted via the Moodle using the Turnitin link on the date specified by the faculty. 4. Plagiarism Plagiarized documents, in part or whole, submitted by the students will be rejected. As per MEC policy, any form of violation of academic integrity will invite severe penalty. Plagiarized documents, in part or in whole, submitted by the students will be subject to this policy. Page 5 of 7 Entrepreneurship and New Venture Creation: BUSS 1011 - FALL2017: CW2-QP a. First offence of plagiarism - A student would be allowed to re-submit the assignment only once, within a maximum period of one week. However, 25% would be deducted from the marks obtained in the resubmitted work. - Mark deduction: Worked Example In an assessment that carries a maximum of 50 marks, suppose a student got 30 marks for the resubmitted work. The final marks for the assessment would then be 22.5 having taken away 25% of the marks obtained (30 x 0.25). - Time for resubmission: The student must resubmit the work one week from the date he or she is advised to resubmit. Failure to do so shall result in the award of ‘0’. i. Worked example b. Date when advised to resubmit: 21st October, 2017 c. Resubmission Deadline: 28th October, 2017 d. Marks for late Resubmission: ‘0’ b. Further offence of plagiarism - If any student is again caught in an act of plagiarism during his/her course of study (either in the same module, same semester or in any other semester), the student will directly be awarded zero for the work in which plagiarism is detected. In such cases, the student will not be allowed to re-submit the work. c. Guidelines    If plagiarism is detected in an individual component or part (e.g., ‘Proposal’) of the assessment,  the deduction in marks will be applicable for the whole assessment. In instances where plagiarism is detected in a group assessment, all students of the group will be considered as having committed an act of plagiarism irrespective ofwhether plagiarism is on account of the act of all or a few or only one member. Page 6 of 7 Entrepreneurship and New Venture Creation: BUSS 1011 - FALL2017: CW2-QP   d. In instances where plagiarism is detected in an ‘individual component’ of a group assessment (e.g., Individual Reflection), penalty and resubmission policy shall be applied exclusively to the student concerned. Amount of similar materials - The total amount of similar material in any form of student work from all sources put together should not exceed 30% (including direct quotations). - The total amount of quoted material (direct quotations) in any form of student work from all sources put together should not exceed 10%. - The total amount of similar material in any form of student work from a single source should not exceed 7%. However, cases having a similarity of less than 7 percent in such cases may still be investigated by the faculty depending on the seriousness of the case. - If faculty member finds enough merit in the case of a student work with a similarity (with a single source) of more than 7 percent as not a case of plagiarism, the faculty member should provide detailed comments/remarks to justify the case. - As regards similarity detected in a work where a specific a ‘template’ has been provided to the students, faculty shall investigate the nature and degree of similarity before consideration of any course of action. 5. Feedback to students: -  Main types of feedback you can expect to receive in this unit are:   Graded assignments with comments via Moodle;  Feedback  on workshops, tutorials and other forms of exercises would ideally be provided in class. Page 7 of 7
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Answer outline Medical tourism agency
Executive summary ........................................................................................ Error! Bookmark not defined.
Company background .................................................................................... Error! Bookmark not defined.
Marketing plan ............................................................................................... Error! Bookmark not defined.
Demographics ............................................................................................ Error! Bookmark not defined.
Psychographics........................................................................................... Error! Bookmark not defined.
Behavioral patterns.................................................................................... Error! Bookmark not defined.
Branding strategies .................................................................................... Error! Bookmark not defined.
Pricing decisions ......................................................................................... Error! Bookmark not defined.
Distribution ................................................................................................ Error! Bookmark not defined.
Promotions................................................................................................. Error! Bookmark not defined.
Operations plan.............................................................................................. Error! Bookmark not defined.
HR plan and organization structure ............................................................... Error! Bookmark not defined.
Key milestones ............................................................................................... Error! Bookmark not defined.
Financial ..................................................................................................... Error! Bookmark not defined.
Customer.................................................................................................... Error! Bookmark not defined.
Major financial projections ............................................................................ Error! Bookmark not defined.
Income statement ...................................................................................... Error! Bookmark not defined.
Balance sheet ............................................................................................. Error! Bookmark not defined.
Cash flow .................................................................................................... Error! Bookmark not defined.
Key ratios ................................................................................................... Error! Bookmark not defined.
Summary ........................................................................................................ Error! Bookmark not defined.
Appendices

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Running head: MEDICAL AGENCY BUSINESS PLAN

Medical Agency Business Plan
Name
Institutional affiliation

1

MEDICAL AGENCY BUSINESS PLAN

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Contents
Executive summary ....................................................................................................................................... 3
Company background ................................................................................................................................... 3
Marketing plan .............................................................................................................................................. 4
Demographics ........................................................................................................................................... 4
Psychographics.......................................................................................................................................... 4
Behavioral patterns................................................................................................................................... 4
Branding strategies ................................................................................................................................... 5
Pricing decisions ........................................................................................................................................ 5
Distribution ............................................................................................................................................... 6
Promotions................................................................................................................................................ 6
Operations plan............................................................................................................................................. 7
HR plan and organization structure .............................................................................................................. 8
Key milestones .............................................................................................................................................. 8
Financial .................................................................................................................................................... 8
Customer................................................................................................................................................... 9
Major financial projections ........................................................................................................................... 9
Income statement ................................................................................................................................... 10
Balance sheet .......................................................................................................................................... 11
Cash flow ................................................................................................................................................. 11
Key ratios ................................................................................................................................................ 12
Summary ..................................................................................................................................................... 12
Appendices.................................................................................................................................................. 14

MEDICAL AGENCY BUSINESS PLAN

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Executive summary
Currently, the medical tourism industry is experiencing tremendous growths because the whole
idea has become readily accepted in the Middle East. Medical tourism is a new form of tourism
that seeks to provide patients with the opportunity to receive the best quality medical care in
foreign countries at the lowest prices possible. It is the high cost of medical services and their
unavailability in the Middle East that is forcing citizens to seek medical services in overseas
destinations. For most patients that require the proper medical care, they turn to companies that
facilitate medical tourism. With a medical tourist company, patients will be able to receive the
medical services they desire at the lowest prices possible. Middle East Travel Medic Inc. will be
an agency company that will facilitate patients to receive the proper care for surgery cases
through a partnership with overseas countries that have world-class medical facilities such as
Thailand, U.S, and India. The medical company will arrange medical consultations, schedule
medical procedure and manage all travel arrangements so that patients have to worry less. The
Key performance indicators for the project are financial and customer growths over the first year
and the subsequent three years. The main competitor is Daman and Tawafuq the leading
providers of health insurance in the Middle East with more than 2.4 million clients. Middle East
Travel Medic Inc. will be ideal for customers because it will guarantee the patients highest
quality medical care that meets the premium standards.

Company background
Middle East Travel Medic will be an incorporated company under the companies act. The
company will provide premium services to its clients. Ownership of the company will be equally
divided among the founders of the company through shares. The company will provide two types
of medical procedures surgeries and standard medical procedures such as clients who wish to
give birth in another country where they feel they will be offered the care they want. The
company will also allow patients with generic medical consultations to receive continuous
medical care in foreign countries. The key assets of the company will be the offices of the
agency and a website where clients can book with us provide all the medical details which will
be analyzed by the company’s medics through a consultation with partner countries so that the
best medical procedure can be selected. The main liability will only be the initial capital that will
be invested at the early stages of the startup. The company will be operating through a website
because it is more convenient in the digital age and will not limit our services to the clients.

MEDICAL AGENCY BUSINESS PLAN

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Marketing plan
Demographics
Middle East Travel Medic Inc. will target the upscale customers who want better medical
services in overseas countries. For the upscale clients what they desire is the best quality care
they can get in the world. The upper scale clients prefer spending their recovery time in resorts
and retreat places where they can have some good time. While these upscale clients can afford
the best medical care, they prefer going to overseas countries that have a reputation for the best
care for their medical conditions. For the second segment of the upper scale clients that do not
undergo surgical procedures such as giving birth they will prefer countries that are developed
and have the best care in the world. The upscale clients consider the travel as a “vacation,” and
therefore they would be taking a spouse or a close friend. The target customers will b...