Tag: GREAT BUSINESS IDEA INDUSTRY ANALYSIS & GLOBAL ISSUES

GREAT BUSINESS IDEA, INDUSTRY ANALYSIS & GLOBAL ISSUES. GREAT BUSINESS IDEA, INDUSTRY ANALYSIS & GLOBAL ISSUES. TYPE OF COMPANY

The selection of a business idea is the most important choice that your team will make in this course. Give it some thought, and make your choice carefully. If you need some further advice or guidance on coming up with a great business idea (and most students do), read the document entitled “Introducing Your Business Plan,” and consult the section headed “Type of Company.”

INDUSTRY ANALYSIS

This section of the plan provides an overall assessment of the industry in which your proposed company will compete. To find out what information belongs in this report, read the document entitled “Introducing Your Business Plan” and consult the section headed “Industry Analysis.”

GLOBAL ISSUES

This section of the plan describes the state of the market and opportunities your company will pursue to buy, sell, or manufacture goods or services in other countries. For information on what to include in the report, see the document entitled “Introducing Your Business Plan” and consult the section headed “Global Issues.”

REPORT
The team should submit a written report in the assignment text box that includes the three sections (labeled), identifying its

great business idea, explaining its rationale for the choice, as well as the industry analysis and discussion of global issues. The

report should be about six double-spaced typed pages. The name of your proposed business and the names of all team members

should appear on the report.

REASONABLE CONTRIBUTIONS

All members of the team who make a reasonable contribution to the report will be designated by contributing to the online

text box, clicking submit, and attesting that they have submitted their own work. If a person does not contribute to the

assignment, it is your responsibility to add a note stating the person’s name, their expected contribution, and that the

contribution was not included. The instructor will confirm that through course room reports. The remainder of the group will

not be penalized. Contributing group members’ work will be assessed and points assigned with consideration that a section may

be missing. It is YOUR GROUP’s responsibility to somehow get any missing sections completed and included in the final

report.

Business Plan Section 2

Group Report #2: MANAGEMENT PLAN (MISSION, VALUES, FORM AND STRUCTURE), MANAGEMENT QUALIFICATIONS AND COMPENSATION

MANAGEMENT PLAN

The team should submit a written report providing the following management plans for your proposed company:

• Mission statement

• Core values

• Legal form of organization

• Organizational structure

You can find some guidance on developing a mission statement and core values in the “Mission Statement and Core Values” section of the document entitled, “Introducing Your Business Plan.” Be sure to report the legal form of business ownership chosen by your company, along with the rationale for your choice. Finally, describe the relationships among individuals within the company, listing the major responsibilities of each member of your management team. Present these relationships graphically by including an organization chart, either in the body of the document or as an appendix. Legal forms of business ownership and forms of business organization are among the topics discussed in this chapter.

MANAGEMENT QUALIFICATIONS AND COMPENSATION

This section of the plan should describe the qualifications of the management team members. It should indicate the compensation to be earned by each member. To find out what information should be included in this report, see the document entitled “Introducing Your Business Plan” and review the “Management Plan” section. Be sure to provide information about the qualifications of your management team members (education, experience, expertise, etc.) and to indicate the estimated annual salary to be paid to each member of the team. (Note: In describing management qualifications, pretend that all team members graduated from college 10 years ago.)

REPORT

This section should be about four double-spaced typed pages plus the organizational chart. The name of your proposed business and the names of all team members should appear on the report.

REASONABLE CONTRIBUTIONS
All members of the team who make a reasonable contribution to the report will be designated by contributing to the online text box, clicking submit, and attesting that they have submitted their own work. If a person does not contribute to the assignment, it is your responsibility to add a note stating the person’s name, their expected contribution, and that the contribution was not included. The instructor will confirm that through course room reports. The remainder of the group will not be penalized. Contributing group members’ work will be assessed and points assigned with consideration that a section may be missing. It is YOUR GROUP’s responsibility to somehow get any missing sections completed and included in the final report.

Business Plan Section 3

Group Report #3: PRODUCTS, PRODUCTION & MARKETING PLAN

PRODUCTS & PRODUCTION

The team should submit a written plan that provides a description of all goods and services to be provided, indicates the advantages that they have over those offered by competitors, and explains how the team intends to obtain or produce the products that it’s going to sell. The information in your report will vary depending on whether you’ve established a service company, a retailer, or a manufacturer. For details on the information required, see the document entitled “Introducing Your Business Plan” and consult the section headed “Goods and/or Services.”

MARKETING PLAN

This section of the plan should provide an overview of your marketing plan, including target market, customer needs, product characteristics, pricing, distribution, and promotion. Your report should also describe any proposed uses of the Internet to promote or sell your products. For details on what you should include in the report, see the document entitled “Introducing Your Business Plan” and consult the section headed “Marketing.” Also consider two other issues:

a. Customer Needs and Product Characteristics

Identify your customers’ needs or wants and link them to the product characteristics (appearance, features, quality, reliability, durability, usability, ease of maintenance) that you described in your products and production group report.

b. E-Business: Internet Promotion and Sales

In addition, if you intend to use the Internet to promote or sell your products, this section should provide answers to the following questions:

• Will your company have a Web site? Who will visit the site?

• What will it look like? What information will it supply?

• Will you sell products over the Internet?

• How will you attract customers to your site and entice them to buy from your company?

REPORT

The report should be about four double-spaced typed pages (estimated — you should type the report sections in a Word document, use spell and grammar check, then copy and paste into the online text box. The formatting may change, but the word count should be approximately 250 words per double-spaced page) . The name of your proposed business and the names of all team members should appear on the report.

GREAT BUSINESS IDEA, INDUSTRY ANALYSIS & GLOBAL ISSUES

GREAT BUSINESS IDEA, INDUSTRY ANALYSIS & GLOBAL ISSUES

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