Welcome to Sycamore Student VenturesThis handboo.docx

Welcome to
Sycamore Student Ventures
This handbook contains a mix of inputs and collaborative
efforts put forth by previous Sycamore Student Ventures (BUS
401) team members. This document was last edited by the SSV
team of the Fall 2013 semester. This manual is created in an
effort to ease your transition into this business.
As you progress through SSV, reference back to this handbook
to clarify your tasks and to continue improving the handbook
along the way.
The Fall 2013 Education Team wishes you and the rest of the
Spring 2014 team great success as you go through this journey
in Sycamore Student Ventures.
-The Fall 2013 SSV Team

Students of BUS 401
&
Consultants of SSV
In this class, you will be performing several roles!
You are still a student, but you will also act as a consultant to
local companies.
You will be working for a consulting company: Sycamore
Student Ventures
As an employee, you will be working on a team project and also
be a member of a department (functional team member).
Some tips for success:
· Be responsible
· Get involved/volunteer
· Be creative
· Be on time
· Communicate with your team
· Be professional

· Have fun!
Table of Contents
INTRODUCTION to SSV5
SSV History5
SYCAMORE STUDENT VENTURES STATEMENTS6
Mission Statement for SSV6
Mission Statement for Sycamore Business Advisors6
Mission Statement for Sycamore Blitz Promotions6
Vision Statement6
Values Statement7
SSV ETHICS POLICY7
Code of Ethics8
ORGANIZATIONAL STRUCTURE9
THE ROLES OF EACH POSITION10
CLASS OPERATIONS14
SSV GENERAL CLASS OPERATIONS15
TENTATIVE ORIENTATION SCHEDULE15
ATTENDANCE POLICY16
PERFORMANCE/PEER EVALUATIONS16
PROJECT TEAM DIRECTIONS17
PROJECT TEAMS’ RESPONSIBILITY18
PROCESS CONSULTING METHOD20
DEVELOPING A PLAN OF ACTION21
DEVELOPING YOUR PROGRESS REPORTS21
FACILITATING THE STRATEGIC PROCESS22
QUALITY CHECK24
EXAMPLE OF A QUALITY CHECK26
HELP FOR THE FINAL PAPER29
PROJECT FORMAT GUIDELINES34
OUTLINE OF THE WRITTEN REPORT36
MILESTONES FOR PROJECTS COMPLETION42
STRATEGIC PROCESS CONSULTATION44
Overview45
THE STRATEGIC PROCESS45
DIRECTIONAL ANALYSIS48

OVERVIEW48
BUSINESS MODEL50
STAKEHOLDER ANALYSIS50
POTENTIAL FOR SUSTAINABLE COMPETITIVE
ADVANTAGE54
EXTERNAL ANALYSIS55
OVERVIEW56
GENERAL ENVIRONMENT57
INDUSTRY58
PARTNERS AND ALLIANCES58
OPPORTUNITIES AND THREATS59
INTERNAL ANALYSIS60
Overview61
CAPABILITIES AND RESOURCES62
CORE CAPABILITY AND RESOURCE62
STRENGTHS AND WEAKNESSES62
THE EXTERNAL AND INTERNAL ANALYSIS
RELATIONSHIP62
GAPs ANALYSIS64
Overview65
GAPS Identification66
GAPs RANKING68
GAPs PRIORITIZATION69
RECOMMENDATIONS71
CLOSING GAPs71
OVERVIEW71
STEPS UNDERTAKEN WHEN MAKING
RECOMMENDATIONS72
GAP PRIORITIZATION AND FINAL RECOMMENDATION
EXAMPLE73
FEASIBILITY STUDY74
WHAT IS A FEASIBILITY STUDY?74
REASONS TO CONDUCT A FEASIBILITY STUDY75
HOW TO CONDUCT A FEASIBILITY STUDY75
FEASIBILITY STUDY CHECKLIST78
FEASIBILITY STUDY OUTLINE82

START-UP PLANS84
WHAT IS A START-UP PLAN?84
REASONS TO DO A START-UP PLAN84
Steps to Complete a Start-Up Plan85
BUSINESS PLAN87
WHAT IS A BUSINESS PLAN?87
Feasibility Study vs. Business Plan88
BUSINESS PLAN OUTLINE88
ADVANTAGES AND DISADVANTAGES OF WRITING A
BUSINESS PLAN90
BUSINESS PLAN CHECKLIST91
DO’S AND DON’TS FOR WRITING A BUSINESS PLAN93
RESOURCES AND HELPFUL TIPS94
APPENDIX96
DEFINITIONS96
Breeze “Talking Textbook”101
SOURCES of INFORMATION102
INTRODUCTION
to SSV
SSV History
Students taking Business 401, Senior Business Experience, at
Indiana State University formed Sycamore Student Ventures
during the summer of 2002. During the Fall 2012 semester,
Sycamore Student Ventures was changed to Sycamore Student
Ventures. The change was because there were other projects
than just consulting. Sycamore Student Ventures uses
experiential learning to teach senior level students how to lead
organizations through the strategic process. Therefore, students
must apply the skills and knowledge they have acquired during
their studies at Indiana State University.

While specializing in strategic process and business
development consulting, Sycamore Student Ventures has
consulted for such companies as:
Career Center
Financial Aid Office
Admissions Office
Center for Student Professional Development
Scott College of Business Alumni Association
Terre Haute Children’s Museum
XSNet
The Gongaware Center
Downtown Terre Haute
Overpeck’s Furniture & Hardware
Biodiesel Southern Indiana
Child Adult Rehabilitation Services
Imperial Lanes
C.A.N.D.L.E.S Holocaust Museum
Asani’s
AAA Environmental
Happiness Bag
Inside Job
Bloomington Incubator
C.A.N.D.L.E.S Holocaust Museum
Daily Med
Vigo County Youth Football League
Boys and Girls Club
Terre Haute Country Club
Hardees
Nature’s Crossroads
JWS Machines
Lettuce Paint
Terre Foods
RamKoh, Inc.
Melton Apple Orchard

Mental Health Associations
Teen Challenge
Simma
Solution
s
The Executive Express
Petersburg Hardware
The Phone Guyz
ISU Football Program
Indiana Theatre
Wise Pies
Sycamore Hills Country Club
Bash Valley Clobber Girls
Specialty Rims Supply
White Violet Center
Indiana Statesman
Cocoa Loft
Cowboy Vintage
Midwest Compliance Laboratories
Fifi’s Lunch Box
Indiana State Physical Therapy and Rehabilitation Center
Next Step Coffee Shop

SYCAMORE STUDENT VENTURES STATEMENTS
Mission Statement for SSV
Sycamore Student Ventures (SSV) exists to provide
individualized client-focused strategic business services to
small/midsize businesses, start-up businesses, and not-for-profit
organizations within the Wabash Valley of western Indiana, and
adjacent states. We use fresh and innovative ideas to assist our
clients in strategic business development and to provide long-
term solutions.
We accomplish our mission by employing and developing
highly skilled students who have the experience and knowledge
to perform these services effectively and efficiently.
Furthermore, Sycamore Student Ventures achieves its
educational and service goals by allowing Indiana State
University Business 401 students to develop their professional
skills through problem-based experiential learning.
Mission Statement- Specially developed for the Spring 2014
Semester
The mission of Sycamore Student Ventures of Spring 2014 is to
continue to provide the quality services that SSV specializes in.
In addition, special focus on the internal operations and
strategic growth of SSV will help to streamline the operations
of the company in order to make it more productive, efficient,

and provide long-term recommendations that meet the client’s
needs.
Mission Statement for Sycamore Business Advisors
Sycamore Business Advisors (SYBA) exists to provide
individualized client-focused strategic consulting services for
small/midsize businesses, start-up businesses, and not-for profit
organizations within the Wabash Valley of western Indiana, and
adjacent states. Their focus is to create effective and efficient
business plans for their clients and to focus those plans on
developing or growing the client’s business by the use of smart
strategic growth.
Mission Statement for Sycamore Blitz Promotions
Sycamore Blitz Promotions exists to provide individualized
client-focused strategic promotional services for small/midsize
businesses, start-up businesses, and not-for profit organizations
within the Wabash Valley of western Indiana, and adjacent
states. Their focus is to assist in the growth and development of
the client’s products by focusing their attention on innovative
ways to increase client’s sales of focused products.
Vision Statement
Sycamore Student Ventures (SSV) foresees itself being very
well-known among ISU students, prospective students, and the

Terre Haute community. SSV strives to be an opportunity that
all current and prospective business students want to pursue and
continue to develop their skills in the business world. In turn,
this will enhance the effectiveness of our organization because
of the caliber of students that will be employed.
We will offer our consulting services at no cost to the client as
a community service and earn a reputation of doing great work
for our clients. As a result of these efforts, SSV will be in high
demand and have a potential client waiting list for each
upcoming semester. By becoming more visible within the
community, we hope that we will have clients throughout the
Midwest contacting us to receive our services. Furthermore, our
success will provide opportunities for ISU’s Scott College of
Business to effectively compete with other top Midwestern
schools and create unique and valuable experiences for
participating employees and clients.
Vision Statement- Specially developed for the Spring 2014
Semester
At the end of the Spring 2014 semester, Sycamore Student
Ventures sees itself being a more efficient and effective, more
productive, and more visible organization that provides high
quality services to its clients with long-term recommendations

throughout the Wabash Valley.
Values Statement
Sycamore Student Ventures values our clients, associates, and
community. Working in collaboration with Indiana State
University, we work to provide the best strategic advice to our
clients through the knowledge of new technology, research, and
innovation. Our consultants and internal operations act
professionally and have the highest regard for ethics, efficiency,
and integrity. We will be doing business with small/mid-size
businesses, start-up businesses, and not-for-profit organizations.
Moreover, SSV demands these values in completed projects
from our employees for each and every client. SSV will
continue to find value added opportunities for our associates
and clients, always aware that quality will never be sacrificed
for short-term opportunities.
SSV ETHICS POLICY
Policy Statement
It is vital for SSV to follow the highest business ethics
standards possible when dealing with clients and the
community. This means that each team is responsible for
protecting the confidentiality of its client. Each team member is
obligated to be responsible, honest, and trustworthy and to

display the highest standards of ethical business practices.
Everyone is expected to participate and be a leader in the
company. The collective talents of SSV team members benefit
the company’s culture. The organizational structure of SSV is
arranged in a manner that promotes leadership and provides
communication between specialized departments. SSV stresses
the importance of sharing ideas, thoughts, and opinions at all
operating levels in a responsible manner.
Company Guidelines
As a team member of SSV, you agree to contribute to company
success by:
-Remaining dedicated to the departments, roles, and the
company as a whole
-Showing respect to all employees
-Being open-minded to all ideas, thoughts, and opinions
-Attending and participating in class
-Attending and participating in team meetings
-Meeting deadlines set for your work
Code of Ethics
As a team member (employee) of SSV working in the
community, the following ethical standards should be in use
when conducting business:

-Employees should conduct their employment activities and
responsibilities with the highest level of honesty, integrity,
truthfulness, and honor.
-Employees have an ethical and moral responsibility to report
any violations of law or policy to their professor.
-Employees should not recommend or participate in any act that
may harm the organization, its image, or another employee of
the company.
-Employees will treat client information as confidential and use
client information only for Sycamore Student Ventures
educational purposes.
- Employees have the responsibility to only use company funds
for purposes approved by their professor and the
Accounting/Finance Team.
-Employees have the responsibility to make decisions based on
ethical standards and morals.
-Employees should not recommend or participate in any act that
may harm clients, the community, and/or those relationships.
-Employees that are dishonest and/or show unethical behavior
will not be tolerated throughout the SSV organization.
SSV’s reputation and success depend on the conduct of its
employees. Each employee must commit to these standards for
SSV to thrive as a good corporate citizen.

SSV CORE COMPETENCIES As Sycamore Student Ventures,
we possess a number of skills that provide our clients with
reliable consulting information that can improve their
businesses. We also provide an opportunity for the client to
learn and grow with our company. Our collective knowledge
provides us with the ability to lead our clients through the
strategic process and form assessments of their businesses.
At the same time, SSV is able to provide a personal and friendly
working relationship with our clients. As a not-for-profit
organization, we are able to look past personal interest and
focus 100% of our attention on our clients. Focusing in the area
of process consulting allows us to do what we do best, act as a
catalyst for change by influencing the approach taken, methods
used, and values applied by the client’s own personnel when
planning or implementing desired changes. It can be assured
that this organization has the client’s best interest in mind, and
we will be available for further assistance as the clients develop
and grow.
ORGANIZATIONAL STRUCTURE
The following chart depicts the organizational structure of
Sycamore Student Ventures. This structure fosters leadership at

many levels. The organizational chart is an important tool for
understanding the operations of SSV. We use a matrix structure
with employees used on both consulting teams and functional
teams.
Director (Instructor/Professor)
Associate Directors
(1 from each class)
Project Team Leaders
(dependent on projects each semester)
6 Functional
Team Leaders
(1 from all SSV)
Operations
Accounting/
Finance
MIS
Marketing
Human Resources
Project Team Members
Education/Training

The Director will select one Associate Director from each class

and one Project Team Leader for each consulting team. Also,
SSV is composed of six functional departments. Each
department is directed by one Functional Team Leader, assisted
by a functional leadership team of 2-3 people, chosen by the
Associate Directors, Functional Team Leader, and Directors.
Those six Functional Team Leaders are chosen by the Associate
Directors in consultation with the Director.
THE ROLES OF EACH POSITION
The Director will set up guidelines for applying for certain
positions at the beginning of the semester. All positions will
work through the strategic process and provide ample
opportunities for learning leadership skills.
Associate Directors (AD): Lead by example. Don’t be late, ever.
Never miss class, ever. Offer assistance and follow through with
all tasks. Dictate responsibility – not tasks. Earn respect, do not
demand it. Work with the functional team leaders. Above all, it
is your responsibility to see that the business succeeds, so make
it fun.
Associate Directorswill be responsible for overseeing the
internal operations (functional projects) of SSV. They are the
liaison between the Directors, the functional teams, and the
Project Team Leaders. They will work to communicate a clear

direction for SSV based on the strategy they will develop and
then facilitate movement in that direction. Further, they are
responsible for running a consulting leadership team meeting
weekly to move the organization forward.
What a typical semester as an AD looks like, including daily
tasks:
· Beginning of the Semester: Set up the project teams within the
first two weeks with help and guidance from the Director. Hold
weekly meetings with the elected PTL’s and the Director to
make sure the semester is starting off strong. Reinforce the
importance of reading the manual (it is where the outline of the
project is). Meet with the Functional Team Leaders after the
AD’s select them and explain their roles. The HR and Education
Training Functional Team Leaders need to get going ASAP with
quizzes and attendance.
· Typical Class Day: Open class with attendance sheet or role
call, announcements on what is happening in class that day,
upcoming events and requirements, Executive Express Café
updates, and scheduling time slots for meeting with the Director
during class time.
· Every two weeks or on Directors discretion there will be a
Quality Check in which the AD schedules with the PTL’s. These
are where the teams present what they have done over the past
two weeks, where they are going, and how they are going to get

there. This will keep everyone on task and keep the projects
moving forward with proper communication between the teams
and the Director.
Project Team Leaders (PTL): Lead by example. Do not be late,
ever. Never miss class, ever. Offer assistance and follow
through with all tasks. Dictate responsibility – not tasks. Earn
respect, do not demand it. PTLs will be in place to facilitate
communication between their specific team, the coordinating
team, and the Director. They will participate with their specific
team by leading discussion, compiling information, and keeping
the team on task. It is important to keep the Director informed
on the status of the project.
· Every class, you are responsible to organize, manage,
motivate, and keep your team on task to complete weekly team
goals.
· Every few weeks there is a quality check that is scheduled by
the AD, with the Director in which a presentation is created to
update where you are currently on the project and answer
questions regarding the completed tasks.
· Weekly team meetings are established inside and outside
class.
· You are the liaison between the client and your team.
· Keep open dialogue with the AD and Director on teams

performance, goals, and concerns throughout the semester.
· Assign different positional roles within the group (note taker,
time keeper, editor, assistant PTL, etc.)
Project Teams (PT): Each project team will be responsible for
performing a consulting job. The team will act as a catalyst by
guiding business leaders through the strategic management
process. The team will be responsible for researching the
specific industry before beginning the consulting process. They
will also work to form a professional relationship with the
client. Each project team member will work together to
establish team member responsibilities and roles.
Functional Team Leaders (FTL): Lead by example. Do not be
late, ever. Never miss class, ever. Offer assistance and follow
through with all tasks. Dictate responsibility – not tasks. Earn
respect, do not demand it. Create excitement. Work closely with
the AD. You will be judged by your teams’ success. Do not try
to do it yourself, your team will support you if you support
them.
Team Members: Work hard. Figure out what to do and how to
do it. Collaborate, do not work alone. It may seem easier to do
it by yourself but that is when learning stops. Do what you’re
asked and volunteer for more. The leaders have been chosen and

it is their responsibility to create a vision and purpose – just
follow theirs. Above all, volunteer.
Functional Teams (HR, AF, MIS, MKTG, OP, E/T): The team
members placed in these functional areas will be responsible for
supporting and developing internal processes that will
contribute to the success of the Project Teams and SSV as a
whole.
· Human Resources (HR):This team must track the attendance of
all SSV employees, as well as set guidelines for the attendance
policy. In addition, they must administer a Mid-term Peer
Evaluation and a Final Peer Evaluation with collaboration of the
MIS functional team leader. The information from the
evaluations must be compiled in a way that can be passed on to
the Directors, ADs, and PTLs. Another major responsibility of
this team is developing an Employee of the Week (EOW)
program for the cafe. The purpose of this program is to
encourage employees to continuously work hard on their
projects. The HR team is responsible for planning the End of
Semester Party to reward all employees on a job well done.
Lastly, the team must revise the Human Resources Turnover
Packet for the upcoming semester.
· Accounting/Finance (AF): This team will establish and prepare

a budget and account for all funds that are dispersed to various
vendors, project teams, and functional teams. Further, the team
must track and approve the allocation of all funds associated
with SSV. It is pertinent to the continued success of SSV that
all financial information is documented precisely with detailed
summaries. The team is also responsible for obtaining grants
through proposals, writing receipts for book payments and
individual spending, and speaking with potential sponsors and
donors that wish to contribute to the funding of SSV. The team
must also post and explain the Travel Authorization and
Employee of the Week forms. Lastly, the team must revise the
Accounting/Finance Turnover Packet for the upcoming
semester.
· Marketing (M): This team will maintain the current positive
image that SSV has established while continuing to build a
respectable name throughout the Wabash Valley and Indiana
State University. These objectives are accomplished by
implementing an effective promotional and advertising strategy
that builds the SSV program and benefits past, present, and
future clients. Moreover, the team will also work diligently to
screen and obtain potential clients for future SSV employees, as
well as perform follow-up surveys. Lastly, the team must
review the Marketing Turnover Packet for the upcoming
semester.

· MIS/IT (MIS):This team was designed to provide technical
assistance to all aspects of SSV. Supporting the other
Functional teams and Project teams is the backbone of this
team. Among the most important responsibilities includes
setting up Qualtrics surveys (peer evaluations) for the HR
Team; maintaining the SSV website, SharePoint, and
Blackboard; assisting in the setup/use of Skype for video
conferencing; working with the Operations Team to build better
support systems; and providing technical support for any other
issues that may arise. Lastly, the team must revise the MIS
Turnover Packet for the upcoming semester.
· Operations/Quality (OP):This team works behind the scenes in
SSV with the constant objective to ensure quality within both
SSV and the Project Teams. A few main responsibilities include
updating the Client History Binder, tracking Accountability
Reports, setting guidelines for items such as the Turnover
Packets and Final Reports, deciding what vendors to use for
printing and binding purposes, sending invitations for the Final
Presentations, printing and binding the Turnover Packets and
the Employee Manual, and other miscellaneous tasks to help the
organization run smoothly. Lastly, the team must revise the
Operations Turnover Packet for the upcoming semester.
· Education/Training (E/T): This team is in charge of

developing the Process Exam and all necessary study materials.
The team will create PowerPoint slides covering the four
products SSV offers its clients, and they will cover these slides
in 15-20 minute class presentations. In order to better prepare
the students, the team also creates study guides and practice
quizzes. Another major task for this team is reviewing and
revising the Employee Manual. This team must also collaborate
with the HR Team to post the class attendance points on
Blackboard. The Education team is responsible for maintaining
and educating employees about the Catapult Program
throughout the semester. This team is also in-charge of
international research for SSV as the organization looks to
expand its borders. Lastly, the team must revise the
Education/Training Turnover Packet for the upcoming semester.
To all: Work as a team. Don’t hesitate to talk with your Director
for any reason. It can be easy to forget that they are part of the
projects if you are not an AD or PTL.

CLASS OPERATIONS
SSV GENERAL CLASS OPERATIONS
The first week of this class is confusing because the
expectations and the organization of this class are radically
different from the other classes you have taken so far.
Here are the three main roles/positions most of the students are
playing in this class:

· Student:
· come to class
· be responsible for quizzes and exams
· participate
· any regular tasks students usually have
· Consultant:
· Attend all meetings
· Participate
· Volunteer
· Communicate with rest of the team
· Be responsible for your work and the work of your team
· Functional team member:
· Same expectations as consultant roles
Most class periods are group meetings with your project team.
However, during the first weeks, the Director explains the class
itself and organizes interviews with students who are willing to
become PTLs or ADs.
The Director’s role in BUS 401:
· The professor is the FACILITATOR
· HELPS develop the main goals

· GUIDES the teams to perform high standard quality checks
· RESERVES some class periods in order to explain
fundamental material
· EXPLAINS key strategy concepts and techniques when teams
request or show a need for the information (Just-In-Time
teaching)
TENTATIVE ORIENTATION SCHEDULE
Week 1 – Distribution of the Employee Manual. The Director
will introduce SSV and explain the resume and cover letter
process, as well as job descriptions.
Week 2 – The Director will conduct a lecture explaining the
strategic process and answer any questions the students may
have after reading the Employee Manual. The Director will use
the resumes as references and interview candidates for PTL and
AD positions.
Week 3 – SSV Team Members will meet with their assigned
teams and PTLs to set direction for their project. They will also

develop a team contract at this time. The PTL will begin to lay
out a Plan of Action based on the direction he/she and the team
decided to take.
ATTENDANCE POLICY
Attendance is tracked by the Human Resources Functional
Team. Missing class and meetings will result in a loss of points.
The attendance policy is as follows:
Miss 1 Class: Lose 0 points
Miss 2 Classes: Lose 2 final grade points
Miss 3 Classes: Lose 4 final grade points (now 6 points lost)
Miss 4 + Classes: Lose 6 more final grade points for each
missed class thereafter
PERFORMANCE/PEER EVALUATIONS
Performance/Peer Evaluations are very important to Sycamore
Student Ventures. These evaluations will give individuals a
chance to receive a fair grade based on the work they performed
throughout the semester. Peer evaluations give your team

members an opportunity to judge your contribution to both the
consulting and functional teams. In addition, it provides
individuals with an opportunity to improve themselves based on
the feedback received. These evaluations are conducted at the
semester mid-point as well as during Finals Week, and they are
worth a large percentage of your final Business 401 grade. They
take time, and need to approached with a serious mindset.
PROJECT TEAM DIRECTIONS
PROJECT TEAMS’ RESPONSIBILITY
At the beginning determine which service would be most
appropriate for the client. These are the four types of services
SSV can provide to its clients:
1. Strategic Process Consultation (SPC): This is our pillar
service used since the inception of our organization. SPC is
most commonly used with organizations that have been
operating for some time. (See page 46 for further explanation)

2. Feasibility Studies: A Feasibility Study is simply the analysis
of a proposed venture or project to determine if it is appropriate
in meeting the organization’s goals. This study includes market
analysis, financial analysis and projection, and managerial
factors. This is a vital study to perform prior to starting the
project or venture. (See page 74 for further explanation)
3. Start-Up Plans: Start-up Plans relate to projected projects for
growth within an organization, implementing new
products/services, or beginning new strategic decisions within
an organization/business (i.e. a new benefits package or a new
line of products). A Start-up Plan should be used after an
initial Feasibility Study is completed. The purpose of a Start-
up Plan is to map out all of the necessary steps to starting,
implementing and completing a successive project. (See page 83
for further explanation)
4. Business Plan or Operational Business Plan: After a business
or organizational venture has been deemed a sound investment
(via a Feasibility Study), a thorough plan must be created to
map out marketing, operations, finances, and other business
issues relevant to a new/on-going organization. Business Plans
are used and required by banks, investors, and managers to
assess the goals and plans for the new business or

organizational venture. (See page 86 for further explanation)
The chart below provides a breakdown of the services SSV can
offer its clients.
Sycamore Student Ventures
Strategic Analysis
Service
End Product
Client need/situation

1. Strategic Process Consulting
High level, multi-year
strategic plan
Existing business trying to move transition to the next level,
possibly through expansion
2. Business Plan
"Standard" form,
commonly used by banks - industry accepted
Business trying to get financing by sharing form with investors
and/or bankers
3. Operational Business Plan
Plan of action outlining how to do operations from day one
forward
(once doors are opened)
Business is in need of an operational multi-year plan for
managers to use
4. Operational Start Up Plan
Plan of action outlines what needs to be done from right now
until day one
(until doors are opened)
Entrepreneur is in need of an operational plan to get their
business up and going

5. Feasibility Study
Set of criteria and conclusions determining if a project can
actually be done; give plan to make it feasible
Business with a new idea but have not vetted it into the market
yet
Each team will be expected to present Quality Checks in order
to make sure that the team is on the right track. Quality Checks
will be over the Directional Analysis, External/Internal
Analysis, and GAPS/Recommendations section. “Fuzzy” Quality
Checks can also be conducted when a project team needs more
direction and advice from their Professor and their AD. (See
page 24 for more detailed information.)
Each team will then make a final presentation to the client with
their recommendations. A final report will also be completed
from the information gathered in the Directional, Internal, and
External Analysis.
PROCESS CONSULTING METHOD

Below are steps to follow when consulting with clients. These
steps were summarized from one of your professor’s lectures.
More detailed steps follow for steps three and four.
1. Initiate Client Contact (Project Team Leader/Marketing)
2. Initial Directional Assessment (Project Team)
a. Assess client’s current direction
b. Establish goals and set up a general timeline with client
3. Develop a Plan of Action (Project Team)
a. Develop a Plan of Action for the project team
b. This plan of action will assign tasks and deadlines
4. Facilitate the Strategic Process (Project Team)
a. Identify the client’s direction
b. Assess the direction to determine if it supports the mission,
vision, and value statements
c. Seek approval of direction from the client before proceeding
(this assessment may include rewriting any of the statements)
d. Perform Internal Analysis
e. Perform External Analysis
5. Perform GAPs Analysis (Project Team)
a. Identify what the business needs to do to get to their desired

state
b. Evaluate the internal, external, and directional assessments
collectively in order to determine if the direction still makes
sense
6. Conclusion (Project Team)
a. Identify the desire
b. Identify the reality
c. Identify key internal and external influences that may benefit
or damage the client’s desire and reality
7. The Project Team will determine if we are able to help close
the GAPs. Should we recommend content consulting?
8. Produce the Final Product (Project Team)
a. Report
b. Presentation
DEVELOPING A PLAN OF ACTION
A Plan of Action provides the team with a schedule of deadlines
and assignments. It also provides organization and helps spell
out individual responsibilities. The class will develop an
Internal Plan of Action that will provide a common direction for
the collective group. Each project team will work with its

client to develop a specific Plan of Action. The following steps
will provide the project team with a process for developing this
tool.
1. Develop Team Agreement
a. Coordinate schedules
b. Set communication standards
c. Set work standards
d. Sign the Team Agreement
2. Determine what must be done to achieve our goals
a. Determine the order of importance for these steps
b. Assign tasks to individuals or teams
c. Determine due dates for completion of tasks
3. Place Parts 2b and 2c into a timeline and post the Plan of
Action
a. The timeline may be broken into class hours, days, or weeks
b. It may be necessary to reassign duties to individuals in the
interest of time
c. It must be understood that, although this is an important
schedule to follow, it is flexible and changes may need to be
made from time to time.
4. Discuss the plan periodically with the Director and Associate

Director and adjust the plan when needed.
DEVELOPING YOUR PROGRESS REPORTS
Each week, consultants will prepare an individual progress
report (PR). The PR should contain a detailed list of what the
consultant achieved during the previous week. It should also
contain a detailed listing of items expected to be completed
during the following week. The PTL receives each consultant’s
PR. PRs should include all client consulting responsibilities.
FACILITATING THE STRATEGIC PROCESS
It is very important for project teams to have a clear picture of
their client’s direction. The direction is what drives the
business to continue operating. As process consultants, it is our
job to lead our clients through the process of developing a
direction or improving the direction they have already set. The
following process is a skeleton that is not set in stone and is to
be used as a reference. It provides questions that will help you
determine what actions need to be taken and which areas need
more focus. Through trial, error, and future analysis, these
steps may be altered, deleted, or left alone. Each area of the
strategic process needs to be addressed in two manners; (1)
what are we trying to bring to our customer and (2) is it

something from which they will benefit.
1. Identify the client’s direction. Research the business starting
with literature and Internet sources and then conduct an
interview.
a. Find out if the client has mission, vision, and value
statements in place.
b. Find out if they have set goals for the future and if they have
met previous goals (you may want to determine why they have
not met goals or what helped them to meet their goals).
c. Based on their mission statement and goals, determine if the
client’s direction makes sense. Do the statements support the
direction? Is there any proof that they are moving in this
direction? If the business is moving in the appropriate
direction, use it as an advantage. If there are changes to be
made, perform the Directional Analysis.
2. Perform a Directional Analysis (page 49 for further
explanation).
a. Has the client been following the direction that they
originally established, and do their mission, vision, and value
statements support that direction?
b. Determine if the client needs to develop a new direction or if
the current direction needs to be altered.
c. If the client needs to develop a new direction, they must also

re-evaluate the mission, vision, and value statements.
d. Determine whether or not the outcomes are attainable. Are
the outcomes what they need or what they want or both?
e. Now, does this fit into the scope of the External and Internal
Analysis
3. Conduct an Internal Analysis of the business (page 61 for
further explanation).
a. What are the key capabilities of the business?
b. What are the strengths/weaknesses of the business?
c. Is the business using these capabilities and strengths to their
advantage?
d. Do the weaknesses hinder internal operations?
e. Does the business have the abilities and key resources
(finances, personnel, etc.) needed to help it move in the desired
direction?
f. If the answer to e is no, what needs to be changed? If the
answer is yes, how can those abilities and resources be utilized
effectively?
4. Conduct an External Analysis of the business. (See page 57
for further explanation)
a. What are the actionable opportunities available to the
business?
b. What are some threats to the success of the business?

c. Is there a market for the business and its product or service?
d. If so, is it a valuable market and can it have an extended life?
If not, what other areas can the business focus on to continue
operating?
e. Does the business have any competitive advantages?
f. What are the competitive advantages and should they be
altered in any way?
g. Is the business meeting customer needs and wants?
h. What is the effect of technology on the industry and how can
the business benefit from technology?
i. How does competition affect the business and industry?
Evaluate all of the information that has been obtained from the
above questions. Can the business strive in current conditions,
should they continue, can or should they change?
The Internal and External Analysis should be done in parallel,
since the information in the External is needed in the Internal
Analysis.
QUALITY CHECK
Introduction

A Quality Check is a presentation and discussion with the
professor, PTL, AD, and selected members of the team. These
meetings are conducted on a regular basis, per the group’s Plan
of Action. At the minimum, Quality Checks should be
conducted for each section of the final report, such as:
Directional Analysis, Internal, External, GAP, and the
Recommendation sections. Remember each team will be
expected to present three quality checks in order to make sure
that the team is on the right track.
Overview of QC
In general, the QC will include a review of the information that
was obtained through interviewing the client, team research,
and conclusions. The presentation will be accompanied by a
review of the Plan of Action, what has been completed, and
what will be completed in a given time line. It is the discretion
of the PTL as to who presents the information to the professor
and in what order the information is presented.
Throughout the QC, the professor will share feedback on the
team’s progress and provide suggestions regarding future goals.
Most of the feedback revolves around the questions posed by
the group during the quality check and the information they
have obtained throughout their research. Many times, the

professor will encourage students to seek secondary sources to
further supplement their information. The feedback offered
should be used to supplement further client interactions and be
a tool for writing the final report received by the client.
Quality Checks can be from thirty minutes to an hour long.
Purpose
By conducting Quality Checks, the professor has the
opportunity to assess the team’s work and progress, as well as
highlight any weak areas. Meanwhile, the team gains the
experience and knowledge they need to present their final
presentation to the clients. Through the course of the semester,
the Quality Checks keep each team on track and accountable in
meeting critical deadlines. Finally, it is recommended that the
presenters attend the final Quality Check, as this will help in
the delivery of the final presentation.
________________
SSV Team HandbookPage 27 of 102
Rev. 1/22/13
________________

Rev. 12/2/2013
The Quality Check should cover What, Why, and When.
More specifically, asking:
· What the team has completed up to this point
· Shares handouts given to the client, interview notes, and
secondary research
· Highlights the current progress as it relates to the POA
· Why the team took the course of action they did and what
purpose it served
· Determines if proper secondary sources were consulted
· Highlights other resources of potential importance
· Encourages accountability among group members and the PTL
for the current progress and research
· When the team took the action(s)
· Assumes the team is accountable to the timeline and the
continual progress towards completing the paper
· Asks the PTL to schedule meetings with clients, in advance
· Assumes that the group coordinates the sections of the paper
with the class lecture schedule (ex: Directional Analysis
interview occurs after the lecture on Directional Analysis)
The team must also keep in mind that the Quality Checks should

be used as a rehearsal for presenting in front of the client. The
teams are expected to be competent, professional, and
enthusiastic during presentations with the client. Therefore, the
professor has the opportunity to assume this role and ensure that
the team is adequately prepared for the interview.
Specifics of a Quality Check
Directional Analysis
· The first few Quality Checks will be for the Directional
Analysis
· These QCs will determine how the group is interacting with
the client
· Suggestions from the professor will examine research points
· Group will discuss client’s business model, value chain,
stakeholders, etc.
Internal Analysis
· Overview of internal forces
· Team should state/explain all of the client’s internal processes
· Team should state how internal processes should look, per
research
· Clarify how to pinpoint resources for the client

· State all internal GAPs
External Analysis
· Overview of all external forces in the environment (per
interview and research)
· Explain how threats and opportunities were identified
· Summarize findings
· Professor may suggest other external forces to explore
GAPs Analysis
· Pinpoint concerns in clients existing business model
· Faculty and students will collaborate to address GAPs
· Develop framework for recommendations for the client
Recommendations
· Discuss GAPs the group identified
· Create research model to tend to GAPs
· Decide on presenter(s) of the group
· Identification of two main recommendations of focus for the
presentation
· Faculty/students will, again, discuss GAPs and relate to
recommendations

HELPFUL HINTS/TIPS
· Quality Checks will be different for each team depending on
what the team is doing for their client.
· If the team is doing a Business or Start-Up Plan, they may
need to share specific information about their product to make
sure that their team is going in the right direction.
· Be as specific as possible with the information that you
present. Try to pick out the most important topics and expand
on them.
EXAMPLE OF A QUALITY CHECK

HELP FOR THE FINAL PAPER
NOTE: These paragraphs are examples to use and adapt to the
particular client project. They do not reflect the true length or
format of the final paper. They are here to help start the writing
process.
Organizations need clear direction in order to be successful.
The (Company Name) Team of Sycamore Student Ventures
performed a Directional Analysis to determine the
organization’s current situation, the desired situation, and what
needs to occur in order to reach the desired situation. In this
analysis, we assessed the current goals and objectives of the
(Company Name) and determined how these goals and
objectives would impact the future of the organization.
The Directional Analysis included researching stakeholders and
examining how the organization creates, delivers, and captures
value. With these valuable pieces of information, our
consulting team looked into the (Company Name)’s ability to
maintain sustainable advantage. By sustainable advantage, we

mean: Does this organization have the abilities and resources to
deliver and capture value for the stakeholders over an extended
period of time?
Stakeholder Analysis
Stakeholders are individuals or groups that can impact or be
impacted by the organizations successes and failures in a value
exchange relationship. The stakeholder analysis is used to
identify external and internal stakeholders. Some common
examples of stakeholders include direct customers of the
organization, employees, subcontractors, suppliers and the local
communities. This relationship occurs when the organization
creates or captures value for the stakeholder. The stakeholder
analysis is a key tool used by Sycamore Student Ventures to
determine who (Company Name) strives to deliver value to,
either directly or indirectly. This analysis will also enable the
organization to identify the stakeholders most critical to its
survival and to make sure that these stakeholders’ needs are
fulfilled.
Business Model
A Business Model describes what, how, and when activities are
performed by the organization. These activities create superior

customer value, through low-cost or differentiated products,
which places a firm in a position to deliver value.
Defining Value
Value is created when an element is added to a product for
which customers are willing to give something in return. Value
can be created in several ways including: providing excellence
in customer service, making innovations in products, and
offering products for a lower price than competitors. This
section will examine how the project creates value for key
stakeholders.
Delivering Value
To deliver value means an organization to provide the consumer
with a product or service that the consumer perceives as
valuable. Value is determined by customer perceptions,
meaning that different customers have different ideas of what
value represents. The key to delivering value is recognizing
that value is a perception, and differs from person to person.
Perceptions may be influenced by expectations, individual
values, attitudes, experiences, reputations, family, and friends.
The organization must decide which perceptions they want their

valued customers to have and communicate in ways that create
these favorable perceptions.
Capturing Value
A business captures value when benefits are received in return
for the value delivered to the customers. By receiving these
benefits and continually delivering value, the (Company Name)
can develop an edge over the competition, allowing for
customer retention and expansion of the business.
Sustainable Advantage
Using a VIRO Analysis, we evaluated the (Company Name)
based on value to its stakeholders, rarity, and possibility of
being imitated. This organization provides value to its
stakeholders that no other local institution can make available.
External Analysis
An External Analysis involves scanning and evaluating various
factors outside the organization to identify positive and
negative trends that may affect its performance. The positive
trends are opportunities that may improve performance. These
usually lead to market opportunities the organization has not yet

tried. The negative trends are threats that may hinder the
organization’s performance. It is important for the (Company
Name) to consider potential opportunities and threats in the
external environment. Companies need to realize that they are
an open system that interacts with and responds to the general
environment, industry, and partners and alliances.Internal
Analysis
The process of identifying a firm’s resources and capabilities
that contribute (or have the potential to contribute) to its
competitive advantage is called an Internal Analysis. An
Internal Analysis is a crucial step in strategy formulation. The
process of conducting an Internal Analysis is not complete
without an assessment of the organization’s strengths,
weaknesses, opportunities, and threats (SWOT).
An Internal Analysis is important because the strategic position
is a path that focuses decision makers on the future of the
organization. The future success of an organization depends
heavily on the capabilities it develops prior to the demand for
those capabilities. There are different capabilities needed for
different sources of competitive advantage. In the Internal
Analysis, the focus is on identifying the capabilities and
resources that affect the (Company Name) competitive
advantage. Identifying Capabilities and Resources

Capabilities are qualities, abilities, or features that can be used
or developed to create potential. A capability is a firm’s ability
to utilize its resources. Resources can be defined as the
relationships or tools needed to facilitate and support
capabilities, which are a firm’s tangible, intangible, and human
assets. Identifying the capabilities and resources that are most
important or lacking is a major factor in being able to maintain
competitive advantage.
Capabilities and resources can be basic or core. The basic
capabilities and resources are the ones that should be done to
satisfy the minimum standards and may be outsourced to other
organizations. Core capabilities and resources are those that are
essential to a sustainable competitive advantage; and, therefore
the organization would never outsource them. The organization
desires to complete these capabilities and resources to the best
of their ability.Modified SWOT Analysis
Sycamore Student Ventures used its capabilities and knowledge
to perform a SWOT Analysis of the (Company Name). A
SWOT Analysis is a type of assessment that provides a concise
overview of a firm’s strategic situation. The SWOT Analysis is
used to help an organization establish a solid foundation for
competitive advantage. This foundation is developed when an
organization examines opportunities, threats, strengths, and

weaknesses for both the internal and external environments of
the company. Ideally, the (Company Name) would like to
minimize threats and weaknesses, while emphasizing strengths
and opportunities.
The first step in preparing a SWOT, is to compare the
capabilities and resources that we have identified. The next step
is to develop what would be a desired state for the
organization’s capabilities and resources. Next, assess which
areas were strengths and which areas were weaknesses.
We show the observed state, where the (Company Name)
currently operates) on a scale of one to ten. This scale can also
be represented in percentages. For example, a five is fifty
percent. The scale is developed so (Company Name) can see
where they fit and how far they are away from reaching the
desired state for each capability and resource within the
functions of the business.Identifying Strengths and Weaknesses
In this section, we identified the strengths of the organization
and the weaknesses that face the (Company Name) internally.
Strengths are favorable or advantageous circumstances that have
the potential to find or create a competitive advantage.
Weaknesses are obstacles faced by a company that prevents
them from reaching their goal of achieving a competitive

advantage. Identifying strengths and weaknesses is a crucial
step for the (Company Name), because it is very important to
exploit the strengths and improve weaknesses in order to sustain
an advantage over competitors.
We have identified strengths that can help the (Company Name)
move from the current state of capabilities and resources to the
desired state. We have also included some weaknesses that
could hinder the organization from narrowing the GAP between
the current state and the desired state. The final step in the
Internal Analysis is to rank the capabilities and resources from
largest GAP to smallest. This list will be analyzed more
extensively in the GAP Prioritization section of the strategic
planning process.
Identifying Opportunities and Threats
In this section, we identified the opportunities available to the
organization and the threats faced by the (Company Name) in its
external environment. Opportunities are favorable or
advantageous circumstances that have the potential to find or
create a competitive advantage. Threats are obstacles faced by
a company that prevents them from reaching their goal of
achieving a competitive advantage. Identifying opportunities

and threats in the external environment is also a crucial step the
(Company Name), because it is very important to exploit the
opportunities available, and eliminate threats in order to sustain
an advantage over competitors.
GAP Ranking
In this section, we used a GAP Ranking system to list the
difference in GAP between the desired state and the current
state for each capability and resource for the (Company Name).
A GAP ranking system is a numerical representation of where
the company is as compared to where the company would like to
be. Note that GAP Ranking does not evaluate the importance of
each capability or resource.
The final step in the Internal Analysis is to prioritize the
capabilities and resources in the order of which has the largest
GAP to the one with the smallest GAP between desired state
and current state. This ranking will be used to see where they
are now and how far they are from their desired state. Keep in
mind that the size of the GAP does not necessarily show the
size of the strength or weakness.
Client Readiness Analysis

This section identifies the (Company Name)’s current state of
readiness to handle external forces as compared to the desired
state. A client readiness analysis helps the (Company Name)
identify those areas which require improvement. Being aware
of these GAPs will enable the company to negate external
threats and improve performance.
PROJECT FORMAT GUIDELINES
Headings
Each report’s heading should follow the same format, using

three different levels of headings. The first level is called the
centered head. It is centered and in bold capital letters. The
second level is the side head. It is flush with the left margin. It
should be in bold letters, using uppercase and lowercase letters.
The third level is called the run-in head. It is indented one tab,
ended with a period, and followed on the same line by the
beginning of the paragraph. The words in the run-in head
should also be in bold letters, using uppercase and lowercase
letters.
There should be one blank line above and below the centered
head, one blank line above and below the side head, and two
spaces between the end of the run-in head and the beginning of
the paragraph.
CENTERED HEAD
Side Head
Run-in Head. This is the first sentence of the paragraph.
Example:
INSURANCE
Crop Insurance

Basil. SSV inquired about the possibility of purchasing crop
insurance for hydroponic basil. Unfortunately, basil is not on
the list of approved crops for the program. Therefore, insurance
through the federal program is unavailable.
Tomato. SSV also inquired about the possibility of purchasing
crop insurance for hydroponic tomatoes. Resembling basil,
tomatoes are not on the list of approved crops for the program.
Therefore, insurance through the federal program is not
feasible.
Footers
All SSV reports should have the same footer at the bottom of
each page of the final report. The footer should include the
project name, page number, date the report is due, and SSV
logo. The footer style can be seen throughout this handbook.
The SSV logo will be available on Blackboard for teams to
download.
Appendices
If more than one appendix is included in a project report, each
appendix needs to be named using consecutive letters of the

alphabet. The appendix title should be centered and written in
bold, capital letters. There should be six blank lines above the
appendix title and two blank lines between the title and the
body of the appendix.
APPENDIX A
NAME OF EXHIBIT
This is the first sentence of the appendix body.
Example:
APPENDIX B
REFERENCES
Websites
http://www.indstate.edu
OUTLINE OF THE WRITTEN REPORT

Directional Assessment Help Sheet
Step 1: Write introduction paragraph.
Step 2: Stakeholder Analysis Section
Introduction (1 Paragraph): Define what Stakeholders are.
Define what a Stakeholder Analysis is. Explain why a
Stakeholder Analysis was used.
Data Used (1-3 Paragraphs): Give a step-by-step explanation
including what tools were used and how each tool was used to
get the data needed to answer the question: Who do they want to
give value to? Also, do not forget to state the sources used for
obtaining your information.
Conclusion (1 Paragraph): Here, state who the stakeholders are
and why they are so important.
Business Model
Introduction (1 Paragraph): Define the Business Model.
Data Used (1-3 Paragraphs): Give a step-by-step explanation of

the organization’s business model, including a completed value
chain.
Useful Suggestions:
Define and explain what the company’s business model is.
Draw a value chain to show how value has been added to the
product or service. Then draw arrows leading to and from the
value chain and stakeholders. This will allow you to show how
value is delivered and captured by both the organization and the
stakeholders.
Conclusions (1 Paragraph)
Step 3: Value Section
Creating Value Section
Introduction (1 Paragraph): Define how the company creates
value.
Data Used (1-3 Paragraphs): Write and define how the business
model was analyzed and business processes used to determine
how the company creates value. Also, do not forget to state the
sources used.
Useful Suggestions:

Look at the company’s Product Strategy. Are they providing the
customers with product differentiation by making their products
unique? Are they focusing on product efficiency by lowering
the cost of the making/delivering of the product/service?
Conclusion (1 Paragraph): Explain how the company creates
value.
Delivering Value Section
Introduction (1 Paragraph): Define what delivering value means.
Data Used (1-3 Paragraphs): Write how you gained the
knowledge of how your business delivers value. Also, do not
forget to state the sources used to get your information.
Possible Sources Used:
Interviews with the client/contact person etc.…
Literature given by the company…
Meetings with…
Company WebPages
Conclusion (1 Paragraph): Explain how the company delivers
value.

Capturing Value Section
Introduction (1 Paragraph): Define capturing value.
Data Used (1-3 Paragraph): Write about what the company gets
in return for delivering value and whether this is of relevant
value to the company? Also, do not forget to state the sources
used to gather your information.
Conclusion (1 Paragraph): Explain how the company captures
value.
Step 4: Sustainable Advantage Section
Introduction (1 Paragraph): Define sustainable competitive
advantage and briefly explain its importance.
Data Used (1-3 Paragraph): Identify whether or not the value
the company creates, captures, and delivers can give them a
sustainable competitive advantage over the competition. This is
done by analyzing the information used and determining
whether or not it is reliable.
Useful questions to ask:
Is there potential for sustainable competitive advantage?
Can the product be easily imitated?

Will the product be valued over an extended period of time by
the stakeholders?
Will the unit be able to maintain the stakeholder relationship?
Conclusion (1 Paragraph): Explain how the company can use its
resources to create, deliver, and capture value for important
stakeholders over an extended period of time.
Step 5: Directional Analysis Summary Section
Summary (1 Paragraph): Explain how the company can gain and
sustain a competitive advantage and how you came to this
conclusion.
External Analysis
Step 1: Write introduction paragraph
Step 2: Identifying external forces
Introduction (1 Paragraph): Define General Environment,
Industry, and Partners and Alliances. Explain the importance of
identifying these external forces.
Data Used (1-3 Paragraphs): Explain how you pinpointed the

external forces for your organization. Explain what sources you
used to identify these external forces. Also include a brief
explanation of the external forces and how they impact the
organization.
Meetings with…
Company WebPages
Conclusion (1 Paragraph): Summarize and conclude the external
forces for your organization.
Step 3: Identifying Opportunities and Threats
Introduction (1 Paragraph): Define opportunities and threats.
Why is it important for a company to identify the opportunities
available to them, and the threats that they face?
Data Used (1-3 Paragraphs): Explain how the opportunities and
threats were identified (in relation to the external forces) for the
organization. State the sources used. Explain the findings for
the opportunities and threats for each of the external forces

identified in Step 1.
Talk to the company to pinpoint any current opportunities or
threats.
Use results from the Unit Readiness Analysis to think about
opportunities available to the company and possible threats
faced.
Meetings with…
Company WebPages
Conclusion (1 Paragraph): Summarize the opportunities and
threats identified.
Step 4: External Analysis Summary Section
Summary (1 Paragraph): Summarize and explain your findings
for the External Analysis of your organization.
Internal Analysis
Step 1: Write introduction paragraph.
Step 2: Identifying Capabilities and Resources.

Introduction (1 Paragraph): Define capabilities and resources.
Explain the difference between core and basic capabilities and
resources.
Data Used (1-3 Paragraphs): Explain how you pinpointed the
capabilities and resources for your organization. List sources
used.
Meetings with…
Company WebPages
Conclusion (1 Paragraph): Summarize and conclude the basic
and core capabilities and resources.
Step 3: Modified SWOT Analysis
Introduction (1 Paragraph): Define what a SWOT analysis is.
Why is it used?
Data Used (1-3 Paragraphs): Explain the steps used in
conducting a Modified SWOT Analysis. Explain the scale used.
State the findings of the Modified SWOT Analysis.

Suggested tools to use:
Use the Modified SWOT Analysis tool.
Talk to the company to assess their current position and their
desired position.
Use the scale to identify where the company stands now and
where it would like to be.
Conclusion (1 Paragraph): Explain your findings from
conducting the Modified SWOT Analysis for your company.
Step 4: Identifying Strengths and Weaknesses
Introduction (1 Paragraph): Define strengths and weaknesses
and say why it is important for a company to identify the
strengths and weaknesses that are present.
Data Used (1-3 Paragraphs): Explain how you identified the
strengths and weaknesses for your organization. State the
sources used. Explain your findings for the strengths and
weaknesses for each of the capabilities and resources identified
in Step 1.
Suggested tools to use:
Talk to the company to pinpoint any current strengths and
weaknesses.

Use results from the Modified SWOT Analysis to think about
strengths and weaknesses that are present.
Meetings with…
Company WebPages
Conclusion (1 Paragraph): Summarize the strengths and
weaknesses identified.
Step 5: GAP Ranking
Introduction (1 Paragraph): Explain what a GAP ranking is.
Why is it important?
Data Used (1-3 Paragraphs): Explain how to conduct a GAP
ranking. Explain your findings for the GAP ranking performed
for your organization.
Conclusion (1 Paragraph): Summarize the capabilities and
resources that had the largest and the smallest GAPs. Do not
state whether one is more important than the other.

Step 6: Internal Analysis Summary Section
Summary (1 Paragraph): Summarize and explain your findings
for the Internal Analysis of your organization.
MILESTONES FOR PROJECTS COMPLETION
Strategic Process Consultation
Intro (Learning how to consult, strategic analysis, creating
structure of SSV, selecting/meeting clients)
Weeks 1 – 2
Weeks 3 – 4
External Analysis & Internal Analysis (simultaneously)
Weeks 5 – 7
GAP Analysis
Weeks 8 – 9
Implementation
Weeks 10 – 12

Prepare final presentation, final team client paper,
practice presentation
Weeks 13 – 15
Final Presentation
Dead Week
Individual Paper Due
Finals Week
Business Plan
Introduction3 weeks
Business5 weeks
Financial4 weeks
Supporting2 weeks
Final Presentation Dead Week
Feasibility Study
Intro3 Weeks
Technical1 Week
Marketing3 Weeks
Operational3 Weeks
Accounting/Finance2 Weeks
Managerial/Human Resources1 Week
Insurance1 Week

Final PresentationDead Week
Start-up Plan
Intro3 Weeks
Operations2 Weeks
Marketing2 Weeks
Human Resources2 Weeks
Accounting/Finance2 Weeks
MIS1 Week
Insurance2 Weeks
Final PresentationDead Week
Notes: The components listed above are key milestones toward
the completion of your project. The timeline represents target
completion of each milestone. This may vary based on the core
concentration of your project. Refer to the Plan of Action at the
beginning of this section.

STRATEGIC PROCESS CONSULTATION

Overview
Internal Analysis
(Strengths & Weaknesses)
GAPS
ANALYSIS
External Analysis
(Opportunities & Threats
RECOMMENDATIONS

SWOT
Analysis
THE STRATEGIC PROCESS
When to use an SPC
An SPC should be used when a team is consulting a business on
how to improve certain business operations to make their
company more profitable and successful.
What the client will receive from an SPC
The client will receive a detailed, research based, business
analysis including a directional, internal, and external analysis
to determine where the company is currently and the steps
(GAPs analysis) to achieve their desired state
(Recommendations).
The following compilation of lecture notes identifies business
applications that could be used in developing a strategic
plan/process for your own consulting operations or in assisting
your clients with developing a strategic plan/process of their
own. It can be extremely beneficial to devise a calculated plan
that will intuitively allow an organization to accomplish their
primary objectives and meet or exceed customer
needs/expectations.

Problem-Solving Approach
Make relevant observations, and also ask yourself questions that
are similar in nature to the following:
1.What are we trying to accomplish?
2.Based on the current information and resources, which
direction are we headed?
3.After conducting a Directional Analysis and forming a
conclusion, determine whether or not this direction makes sense
(given the primary objective).
4.Does this direction (approach being taken to meet the overall
mission) have any real value (or potential value with the
appropriate modifications)?
5.Identify and present all problems and obstacles that could
prevent your progress and list all of the alternative outcomes.
6.What are your delivery options? What sequential steps must
you take for each option in order to accomplish your objectives
(begin listing possible options)?
7.Who will do what? Who will perform each step? Who/what
else do we need?
8.Select a feasible alternative with the greatest potential for
success. Keep in mind that we must be able to implement this
strategic plan within the given constraints of time, people, and

other vital resources.
Begin this analysis by asking the following questions:
1. What is the mission and the vision of the company?
2. What value do we offer or want to offer to the stakeholders?
External Analysis
This step involves identifying opportunities and threats. It is a
study of external factors.
1. Identify key external resources to which we have or need
access.
2. Evaluate the external environment to determine what factors
may help or inhibit the ability of the business to meet its goals.
These may be industry specific or related to the general
economy.
Internal Analysis
This step involves identifying strengths and weaknesses.
1. Identify our current capabilities based on our employees’
education and experiences and your technological skills and
equipment.
2. Contemplate, research, and list all of the resources that we

have at our disposal in order to accomplish our objective.
3. What are our core competencies?
SWOT Analysis
Create lists that identify the following:
Strengths:
Weaknesses:
Opportunities:
Threats:
After identifying these things, draw a more specific conclusion
as to the steps to be taken to reach the vision.
Gap Analysis
1. Are we successfully delivering the value that our customers
demand, want, or need?
2. What do we desire to accomplish?
The next step is to fill the void. Determine what must be done
to make the present reality into what we desireto be in the
future (our vision).
Recommendations
1. What do we need to do to accomplish the objectives?

2. How can we meet the challenge of delivering the value that
we envision ourselves having, given the reputation we have of
providing for clients?
DIRECTIONAL ANALYSIS

Business Model
Potential for Sustainable Competitive Advantage
Purpose of a Directional Analysis – To identify the people the
organization exists to benefit. We want to understand the
activities that benefit the organization. To do this we look at
three things:
1. Business Model Analysis – Identify and describe each of the
major activities that deliver value to the stakeholders
2. Stakeholder Analysis – Identify needs of key people we want
to benefit
3. Sustainable Competitive Advantage – Does this model offer
the potential that if ran well, could, over the long-term,
continue to provide those benefits and ultimately be sustainable.
BUSINESS MODEL

Clearly describe the business model. How does the company
serve its customers? A Business Model is a configuration of the
elements of a business, how they work together, and how they
produce profits. A Business Model is a view of a business at
any given point in time, i.e., a description of the operations of a
business including the components of the business, the
functions of the business and the revenues and expenses that the
business generates.
VISION, VALUES, AND MISSION STATEMENTS
Mission – the products or services the company provides (for
whom, where, and how). The mission is the reason for the
existence of the organization (the ultimate purpose). It
concentrates on the present and focuses on a shorter term than
the vision statement. The statement is very short and concise,
but at the same time, very broad and general.
Example: The Career Experience Center exists to help students
develop professionalism. This is done by offering tools,
resources, and assistance in order to lead students in a
professional direction.
Vision – the concrete statement of your ultimate dreams for the
company. A vision consists of long-term goals. It should be

how the company sees itself in the future (5-10 years). The
vision is more abstract and outlines what the organization wants
to be. It is a source of inspiration.
Example: The vision of the Career Experience Center is to
provide professionalism to all incoming freshman at Indiana
State University, that they will use throughout their college
career after graduation.
Values – your convictions on how business is to be conducted
and people are to be treated, inside and outside the company.
Example: The Career Experience Center strives to provide
integrity and guidance to its students in a friendly environment.
STAKEHOLDER ANALYSIS
The purpose is to identify the key needs of those the
organization exists to benefit. A stakeholder analysis is used to:
1. Identify External and Internal stakeholders that the
organization wants to create, deliver value to and capture value

from.
2. Enable an organization to identify the stakeholders most
critical to its survival and to make sure that the satisfaction of
their needs is fulfilled.
The client may or may not realize all of the potential Internal
and External stakeholders it has around its organization.
However, it is important for us to help the client perform a
stakeholder analysis, and determine the assessment of the
impact these stakeholders can have on their business.
EXAMPLES OF INTERNAL AND EXTERNAL
STAKEHOLDERS
End Consumers
Households
-Demographic segments
-Purchasing behavior
segments
Commercial & Industrial
-Product use
-Alternative products
-Purchasing behavior
segments

-Industry classification
Employees
Internal, specify level
Sales force
Support personnel for outside relationships
Contractors (not really employees, but still impacted)
Stockholders (owners)
Board of directors
Financial Community
Lenders (long & short-term)
Banks
Suppliers
Distributors
Retailers
Product transporters
Intermediary storage
Interest Groups
Community (local residents)
Environmental
Social advocates

Industry trade groups
Other (specify)
Public Organizations
Governmental
Media
Non-profit (local, regional, national, international)
Schools
Public service & other charities
Children
School projects
STAKEHOLDERS IDENTIFICATION
Identify the value created and captured by the stakeholders.
Identify and prioritize all stakeholders. For Example:
Stakeholders
Value Given by the company
Value Received by the company
Customers
Products/services

Money for products/services
Employees
Wages
Quality work
Determining Value Created
List how value is created for each stakeholder category and its
corresponding subgroups.
Determining Value DeliveredDescribe how the value gets to the
stakeholders. Another term that may be used in describing this
process is Business Model. This is the configuration of the
elements of a business and how they work together.
Determining Value Captured
Identify what your organization receives from the stakeholders.
In order for the unit – stakeholder relationship to last, there
must be a fair exchange of value. If you give someone
something of value, you expect something of equal value in
return. Now if one side of that relationship feels the exchange
is unfair, what is the likelihood of the relationship continuing?
The company must be carefully assessed to determine all of its

areas of value. From these, the top two most valuable assets to
the company should be concluded. These are things that make
the company what it is and separate it from the competition. No
other competitor should be able to match up to the company in
these areas. Examples of value are low cost, friendly service, or
great location. Once the value has been determined it must be
analyzed further to see if this value will survive into the future
as competitors try to match up and the external environment
changes. Can others have costs as low, be as friendly, or move
into the same neighborhood? One must assure that the value is
cost efficient and feasible to maintain and grow upon.
The company’s value must also be a rarity. This means the
value must be something that none or only a small number of
competitors possess. If everyone else has the same value then it
is not worth focusing on. One wants this to be something that
stands out as theirs and theirs alone; a competitive advantage.
Once determined, a strong plan should be developed to market
the top
________________
Rev. 1/22/13
values of the company to its potential buyers and its

stakeholders as well. This marketing strategy should be shared
with a test group to determine whether it is delivering the
desired message and that the value is what consumers are
looking for. The value may be good, but not what people
currently desire. If this is the case, another value should be
focused on. Trying to sell something no one wants or cares
about brings no appeal or success. This is not to say that it is
not an important value or that it should be ignored. All value is
important but finding the value to market to make the company
stand out from the rest is essential. Other values should be kept
strong but not put in the public spotlight.
POTENTIAL FOR SUSTAINABLE COMPETITIVE
ADVANTAGE
What do the stakeholders receive from the business that they do
not get from other similar businesses (unique value added)?
A company achieves a sustainable competitive advantage when
an attractive number of buyers prefer its products/services over
those of rivals and when the basis for this preference can be
maintained overtime.

VALUE CHAIN
A value chain is being able to separate the business system into

a series of value-generating activities. This allows a person to
better understand the activities through which a firm develops a
competitive advantage and creates shareholder value.
The main value chain activities are:
· Inbound LogisticsReceiving and storing raw materials for the
business
· OperationsThe process of transforming raw materials into
finished goods
· Outbound LogisticsThe storing and distribution of the finished
products created
· Marketing & SalesUnderstanding customer needs and
developing methods of sale
· ServicesSupporting customers after finished products have
been sold

EXTERNAL ANALYSIS
OVERVIEW
General Environment
Industry
Partners and Alliances
External Analysis
(Opportunities & threats)

Purpose of an External Analysis – To identify the opportunities
and threats in an organization’s external environment that relate
to their ability to deliver value.
To do this we look at three things:
1. General Environment – Looking at the political, economical,
sociological, and technological environment as it relates to the
organization
2. Industry – Who are our buyers, suppliers and same service
organizations and what threats or opportunities exist within
those areas
3. Partners and Alliances – Organizations that we can partner
with to accomplish something we cannot do alone
We conclude – what are the opportunities and threats and are
they something we can take action on (are they actionable)? If
so, where inside the organization should these opportunities and
threats be managed?
GENERAL ENVIRONMENT
“PEST” Factors:
1. Political/Legal: Laws, regulations, judicial decisions, and

political forces in effect at the federal, state, and local
government. Keep track of changes that could affect your
organization positively or negatively. If you are operating in
another country, know and abide by its laws and regulations,
and be aware of changes in them.
2. Economic: Economic factors that affect the purchasing
power of potential customers and the firm’s capital, such as
growth rate, interest rate, exchange rate, and inflation rate.
3. Socio-cultural: Society’s traditions, values, attitudes, beliefs,
tastes, and patterns of behavior, and how they are changing.
Current statistical data and trends in population characteristics.
This information helps you understand your current customers
and target potential customers.
4. Technological: More or less important depending upon
whether the subject organization’s products or services are
affected by rapidly changing technology. The source of this
information is usually industry specific.
INDUSTRYThe Industry consists of the suppliers, competitors,
and buyers. When talking about a unit’s industry, we are

talking about anyone who is related with the same
product/service as the unit. There are three main divisions
within an industry: customers, competitors, and suppliers.
Identifying and understanding other units within one’s industry
is important when trying to achieve competitive advantage.
PARTNERS AND ALLIANCES
The Partners/Alliances are those who can help us in creating
value for our stakeholders. These relationships are usually
defined and examples of these are monetary contributors, or
people who donate time/materials.
1. Identify all the factors in the General Environment, Industry,
and Partners/Alliances. You may want to use post-it notes so
you can easily categorize them into their respected area.
2. Examine if the factor has an impact or affects the unit in any
way.
3. If the factor does not have any impact on the unit, toss it out.
OPPORTUNITIES AND THREATS

During the External Analysis it is important to identify
opportunities that could help the organization move from the
current state of readiness towards the desired state. At the same
time, we need to identify potential threats that may hinder the
organization from narrowing the GAP between current state and
desired state. The final step in the External Analysis is to rank
the external force from largest GAP to smallest. This list will be
analyzed more extensively in the GAP prioritization section of
the strategic planning process.
1. List the external forces.
2. Identify the opportunities and threats for each force.

INTERNAL ANALYSIS
Overview
Capabilities
Internal Analysis
(Strengths & Weaknesses)
Resources

External Analysis
Core
Capabilities/Resources
Purpose of an InternalAnalysis: We examine all capabilities,
resources and core capabilities of/and resources in the major
functional activities that the firm engages. We analyze the
strengths and weaknesses of the company to understand how all
internal processes work and how they currently operate.
CAPABILITIES AND RESOURCES
Capabilities: This is the knowledge and the technical skills that
the company has in order to create products and services. Some
examples of capabilities for an organization are Human
Resources, Marketing, Accounting, Knowledge Management,
Information System Support, Management, Finance, Operations,
Training, Operating Processes, and Final Product. These
capabilities should be examined individually to understand how
the client can improve in these functional
departments.Resources: These are tangible and intangible
assets that are necessary for a company to conduct

business.Some examples of resources include both tangible and
intangible assets. Tangible assets are capital, physical plant
and machinery, buildings, computer systems, etc. Examples of
intangible assets are knowledge, brand name, marketplace
relationships, goodwill, technology, processes, etc. Intangible
assets can be tacit (inferred, implied, or understood) or coded
(which can be written down and described).
CORE CAPABILITY AND RESOURCE
A core capability is something that a firm does better than
anyone else in its industry. A firm often derives its competitive
advantage from its core capabilities. A core capability satisfies
three criteria:
· SYCAMORE STUDENT VENTURESProvides potential access
to a wide variety of markets
· Makes a major contribution to customer value; and
· It is difficult to imitate because it is often a complex
combination of different production skills and technology.
STRENGTHS AND WEAKNESSES
During the Internal Analysis it is important to identify strengths
that could help the organization move from the current state of
the capability or resource towards the desired state. When

trying to determine strengths and weaknesses we must consider
the application and its relationship to the direction of the
organization.
THE EXTERNAL AND INTERNAL ANALYSIS
RELATIONSHIP
The external analysis needs to be completed alongside the
internal analysis because each has a bearing on the other.
External factors on an organization will need to be part of the
determination of how the internal organizational environment is
set-up. The chart below illustrates how the parts of the strategic
process consultation method model relate to each other.
Internal Analysis
(Strengths and Weaknesses)
External Analysis (Opportunities and Threats)
Combining the IA and EA information will complete the SWOT
analysis
GAP Analysis and Prioritization (From the IA and EA Analysis)
A Plan of Action to Close the GAPs of an Organizations Current
State to meet its Desired State
Recommendations

Overview
GAPs IDENTIFICATION
1. Assess Current State
GAP
2. Determine Desired State
GAPs
Analysis
External Analysis
GAPs RANKING

GAPs PRIORITIZATION
The purpose of a GAPs Analysis: To compare actual
performance with potential performance. This analysis is
composed of three main steps:
· At the end of the Internal Analysis, we anticipate the GAPs
Identification by assessing the current state, determine the
desired state, and identify any gaps between the two states of all
the capabilities and resources.
However, not all items with a small GAP are strengths and not
all items with larger GAPs are weaknesses.
· Rank the GAPs from largest to smallest
· Prioritize GAPs in order know which ones are the most
important and urgent to focus on.
GAPS Identification
Option 1
There are two options for identifying GAPs. Option 1 is not as

confusing as Option 2. Option 2 is on the next page, so you can
decide for yourself.
First Step: Decide where the client is on a scale from 1 to 10,
with 10 being the best.
For example: How well do they advertise? Right now they are
a 3, meaning they do very little advertising.
Second Step: Decide where the client should be from 1 to 10.
For example: We feel they should be at a 7 because it is an area
where they need to be proficient.
Third Step: Make sure to place meaning behind the values.
For example: 1 meaning poor performance and 10 being
exceptional performance.
*If a client is a perfect 10 then work backwards and decide on a
scale of 1 to 10 what would happen if the client didn’t maintain
a perfect 10.
Use illustrations such as below to show the client their GAPS:
Where the company stands now:

0 310
Where the company needs to be:
0710
GAPs IDENTIFICATIONS
Option 2
Scale Used
Use this scale in order to determine the current state and desired
state for your organization:

GAPs RANKING
The next step of a GAP analysis is to rank the capabilities and
resources in the order of which has the largest GAP to the one
with the smallest GAP between desired state and current state.
This ranking will be used to see where they are and how far
they are from their desired state.
Note: Keep in mind that if a capability or resource has a large
GAP, it is not necessarily a weakness. Similarly, a small GAP
does not necessarily represent a strength.
Connecting Internal GAP Assessment
1. Identify the issues.
2. What does the client want the situation to look like?
3. What has to be in place to manage the situation?
GAP
4. What is in place now?

GAPs PRIORITIZATION
Explanation of GAP Prioritization Tool
Now that you have evaluated where your organization desires to
be as well as their internal and external environments, it is time
to summarize the GAPs and focus on the prioritization to
provide success and continued competitive advantage.
To use this matrix, make a complete list of all GAPs identified.
Then, for each GAP, identify if it is urgent that action be taken
immediately within the GAP. Then, for each GAP, identify if
the GAP is critical for the organization to focus on, or it is non-
critical. Rate the urgency and criticality of each GAP and place
them in the appropriate box on the matrix. To assess urgency
and criticality you will need to examine each GAP and decide
whether an external threat could hurt the organization, whether
the organization needs to create or improve a capability to
address the threat or opportunity and how soon the situation
needs to be addressed.
After you have placed each GAP in the appropriate section, use
the groupings to conclude and advise to your organization what
you have found. Make appropriate suggestions for
accomplishing the desired status. Pick three to five top GAP

prioritizations to focus on for recommendations.
Reiterate the following for each GAP:
1. What are the opportunities related to the GAP?
2. What are the threats related to the GAP?
3. How can the organization take advantage of opportunities and
how should the organization overcome the threats? (Expand on
within your project)
Your recommendations will then describe the actions the
organization should take to address the situation
GAPs MATRIX
CRITICAL
NON-CRITICAL
URGENT
NON-URGENT

Function Placement Matrix for the GAP Analysis
Classifications of GAPs Defined
URGENT: An urgent GAP is one that needs be addressed
immediately.
NON-URGENT: A non-urgent GAP is one that does not have to
be addressed immediately, but should be addressed in time.
CRITICAL: A critical GAP is one that has a direct impact on
the success of the organization.
NON-CRITICIAL: A non-critical GAP is one that does not have
a direct impact on the success of the organization, but would be
a potential consideration in the future.

OVERVIEW
GAPS ANALYSIS
Make Recommendations to close GAPS
Purpose of closing the GAPs with recommendations:

After assessing all of the GAPS, ranking them, and prioritizing
them, we should pick the three to five main GAPs and draw the
final conclusion and recommendations from them.
In the recommendations, we should also include the
implementation steps of these suggestions.
STEPS UNDERTAKEN WHEN MAKING
RECOMMENDATIONS
· Identify the GAPs that the client is currently faced with while
doing the Directional/Internal/External Analysis.
· Inform the client of the GAPs that were identified during the
analysis.

· With the aid of the client, prioritize the GAPs that are most
critical to the client needs (we simply do not have enough time
to close every GAP due to the fact that as many as 25 problems
may be identified).
· Of the prioritized GAPs that were established by the client and
the teams that both agreed were most critical, choose at least
two out of the prioritized GAPs based on what SSV specializes
in (Accounting, Finance, Marketing, HR, MIS, and Operations).
Scott College of Business students have all had classes in each
of these areas. ISU Scott College of Business students are
highly trained in at least one of these fields. The key is that we
(SSV) want to offer detailed expert advice or have access to
experts.
· After analyzing the remaining prioritized GAPs, determine the
best strategy in providing a solution to close the GAPs.
· We need to be very specific, let the client know they can
achieve their strategic objectives by following these
recommended steps.
· Based on your research and analysis, provide your solutions to
the client and make a recommendation to implement a strategy

GAP PRIORITIZATION AND FINAL RECOMMENDATION
EXAMPLE
Sycamore Student Ventures has evaluated the directional,
internal, and external segments of <INSERT COMPANY NAME
HERE>. Through this evaluation we have identified the current
state position of <INSERT COMPANY NAME HERE> and
desirable future state for <INSERT COMPANY NAME HERE>.
Prioritizing the GAPs will give <INSERT COMPANY NAME
HERE> a basis for taking the next step toward achieving a
sustainable competitive advantage. These GAPs have been
identified and are important to the development of <INSERT
COMPANY NAME HERE>. Sycamore Business Advisors have
prioritized these GAPs to assist <INSERT COMPANY NAME
HERE> in deciding how and when to address the gap.
GAPs that are both critical and urgent are the most vital for
<INSERT COMPANY NAME HERE> success. The following
information reviews the GAP findings for <INSERT COMPANY
NAME HERE> and prioritizes their urgency and critical
statuses.

WHAT IS A FEASIBILITY STUDY?
A Feasibility Study is a preliminary study undertaken to
determine the practicality of a project. This study is necessary
to document the research and to analyze the data that is relevant
to the project. A well informed decision can be made only when
all the determining factors have been considered. A Feasibility
Study should address all the issues that could influence a
potential project, whether it is a new venture, an expansion, or
an upgrade to an existing product/service. This study is a
critical step in business development and, if done properly, may
be one of the best investments a business can make.

The ultimate question which must be answered: “Is this project
going to provide a sufficient return on investment to make it
worth my time and money?”
The final product of a Feasibility Study is the Feasibility
Report, also known as an Options Paper. This paper includes a
Cost-Benefit Analysis and Supporting Documents containing all
relevant research materials and data. This will assess the
advantages and disadvantages of each option so they can be
ranked by importance. (See the Business Plan section of this
binder to understand the difference between a Feasibility Study
and a Business Plan.)
REASONS TO CONDUCT A FEASIBILITY STUDY
· Gives focus to the project and outlines alternatives
· Narrows business alternatives
· May surface new opportunities through the investigation
process
· Enhances the probability of success by addressing factors
early on
· Identifies reasons not to proceed

· Provides quality information for decision making
· Provides documentation that the business venture was
thoroughly investigated
· Helps secure funds from investors and lenders
HOW TO CONDUCT A FEASIBILITY STUDY
Step 1– Assign a team. The team should include a range of
specialists and should not be dominated by one type of
specialist. It should also be as small as possible, as smaller
teams are easier to coordinate. The leader of the Feasibility
Study will probably not be the Project Manager for the
remainder of the program. However, it is a good idea if the
future Project Manager be familiar with the Feasibility Study.
This addition will help ensure ownership and commitment to the
directions established.
Step 2 - Examine the scope of the study to assess the work
involved and any constraints; such as quality, cost, time and so
forth. A resulting work plan or Project Business Plan should
outline the study’s delivery time, interim and final reports

required.
Step 3 – Refer to the Feasibility Study checklist to determine
the most relevant factors for your particular project. After
narrowing your focus, consult with the Project Team Leader,
Associate Director, and Professor.
Step 4 - Create a plan for the study. This plan might take the
form of a Project Business Plan or work schedule, and should
include a highlight plan and assigned responsibilities. The
highlight plan should be strong, but flexible enough to cope
with emerging or unexpected issues and adequate time should
be allowed for possible procurement processes, requesting and
collecting information, as well as interpreting and analyzing the
results.
Step 5 - Set a timetable for the study. The timetable should be
sufficient to allow options to be explored and thoroughly
evaluated.
· Intro – three weeks
· Technical – one week
· Marketing – three weeks
· Operational – three weeks
· Accounting/Finance – two weeks

· Managerial/HR – one week
· Insurance (time for delay) – one week
Step 6 - Collect relevant information and write the Feasibility
Report.
*NOTE* some of these may occur simultaneously but should be
communicated between groups so as not to duplicate efforts.
THE STRATEGIC PROCESS OF A FEASIBILITY STUDY
Directional Analysis:
1. Business Model Analysis – Identify and describe each of the
major activities that deliver value to the stakeholders
2. Stakeholder Analysis – Identify needs of key people we want
to benefit
3. Sustainable Competitive Advantage – Does this model offer
the potential that, if run well, could continue to provide these
benefits and ultimately be sustainable for the long term?
Internal Analysis:
1. Identify all core capabilities and resources.

2. Analyze the strengths and weaknesses of the company.
3. Conduct a modified SWOT Analysis
External Analysis:
1. General Environment – Looking at the political, economical,
sociological, and technological (PEST) environment as it relates
to the organization.
2. Industry – Who are our buyers, suppliers and same-service
organizations and what threats or opportunities exist within
those areas?
3. Partners and Alliances – Organizations that we can partner
with to accomplish something we cannot do alone.
(See the SPC section of the binder for more details on the
Strategic Process)
PORTER’S VALUE CHAIN - THEORY
How Porter’s Value Chain Applies to a Feasibility Study?
The principal idea behind Porter’s Value Chain is to identify the
strategically relevant activities performed by the business, and
to analyze each activity for its role in creating value. The
activities can also be grouped into meaningful categories and

compared on a relative and an absolute basis with competitors.
In practice, it is best to start with a simple list of the activities
of the business. Then after the list is compiled, group the
activities into major categories. For example; grouping all
activities directly related to building the product or providing
the service into one group of activities called “Operations.” All
marketing and pre-sales activities like advertising, market
research, sales administration, and selling should be grouped
into a category called “Marketing & Sales.” An example is
listed on the following page:
Michael Porter’s Value Chain:

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