Assignment: Business Plan Breakdown- The Choice Of Business
Course Introduction
Entrepreneurs change the world by creating wealth not only for themselves, but also for many others around them.
Why not be another Steve Jobs and create a venture as successful as Apple, which stands out from similar companies because of its unconventional business ideas that constantly redefine the standards for products, marketing, and techniques for industry innovation? Apple's primary entrepreneurial focus-providing powerful and user-friendly products and solutions, with a focus on design-drives Apple to remain a world leader in cutting-edge media and technology. This philosophy brought to the world such successful products and services like iTunes, the iPhone, and the iPad. Do you know anyone who has never heard about Apple and its products?
This course will reveal the entrepreneur inside you and will increase your chances of success in your career.
Each module will help you put together the entrepreneurial puzzle.
Module Overview
Entrepreneurs are able to identify and pursue ideas and opportunities that can become feasible business ventures. They are the real agents of innovation and change in free economies, always finding a new or better way of doing things.
Traditional entrepreneurs start their own businesses and work for themselves.
There are, however, other kinds of entrepreneurs, such as the intrapreneur (or corporate entrepreneur) and the social entrepreneur. Nevertheless, this course will focus only on traditional entrepreneurs and the creation of new business ventures.
This Module will introduce you to the concept of entrepreneurship and the various advantages and disadvantages of conducting a business as an entrepreneur. This module will also introduce you to some of the decisions that an entrepreneur makes.
Conclusion Module covered the foundations of entrepreneurship, the entrepreneurial process, and the identification of potential business opportunities.
Developing a successful business idea not only includes the opportunity recognition discussed in this module, but also following all the steps in the entrepreneurial process until the business is ready to participate actively in the marketplace. All these steps will be discussed in the coming modules of this course which will include, among other things, a clear and comprehensive definition of the business in point and the development of marketing and financial plans.
This is the first milestone of your business plan-the choice of business.
Tasks:
Complete the following tasks:
Using the Internet or the Argosy University online library resources, research different projects or initiatives that could be implemented in the business areas covered by the program you are registered in (Master of Science in Management [MSM], Master of Science in Organizational Leadership [MS_OL], Master of Science in Non-Profit Management [MS_NPM], or Master of Science in Human Resource Management [MS_HRM]).
1. Read through the final LASA project Titled: LASA: Business Plan and identify an appropriate project or initiative on which to complete the LASA project. (This Will Be Provided @ The Bottom Of This Assignment)
2. Create a 4- to 5-page research paper that includes:
o An explanation of the initiative, its mission, its vision, its core beliefs and culture, and its social responsibility commitment, if applicable.
o A comprehensive venture description, including the industry in which it will be participating, the type of organization it will be, the needs to be satisfied by this initiative, the strategic advantage it has, and the legal structure it will take.
o A justification of the choice of this initiative for your final project. (You can use what you have learned throughout the program.)
o A description of the research methods used to assess the feasibility of this opportunity (e.g., surveys or statistics), including a succinct strengths, weaknesses, opportunities, and threats (SWOT) analysis, to address industry trends, environmental trends, the target audience, and the competition.
(LASA: Business Plan Assignment Attachment) Read Through this Assignment ONLY
As discussed in the LASA: Working Ahead section, you will prepare a business plan on a specific project or an initiative to be implemented in the business areas covered by your respective MS program of study.
In Modules 1, 2, 3, and 4, you submitted individual assignments that will be part of the final document. The final document needs to be submitted as the course LASA. In this module, you will consolidate all the information collected throughout the course, organize the information, and prepare your business plan.
Tasks:
Prepare a business plan in a Microsoft Word document with an accompanying Microsoft PowerPoint presentation containing the key points of your plan to serve as a presentation to a group of potential investors. The business plan should focus on a specific project or initiative to be implemented in the business areas covered by your respective MS program of study.
The Microsoft Word document (official plan) should have a minimum of 12 pages, and the presentation should be of 12-15 slides.
The business plan for this initiative should include the following:
• Cover page
• Table of contents
• Executive summary: The executive summary should not be more than two pages and should include the following information:
o Name of the venture
o Business idea
o Target market
o Type of organization
o Marketing and sales strategy
o Key success factors
o Short-and long-term business goals
o Management skills and resources
o Ownership
o Sources and uses of funds
o Summary of the financial projections
• Mission, vision, and culture
• Company description
• Opportunity or feasibility analysis
• Marketing strategy and plan
• Simplified financial analysis and projections
• Management and operations (including legal, risk, human resource management [HRM], ethics, etc.)
Note that you can use any business plan template as an aid for preparing the final document. At a minimum, the plan/presentation must include:
• Executive summary
• Mission, vision, and culture
• Company description
• Opportunity or feasibility analysis
• Marketing strategy and plan
• Simplified financial analysis and projections
• Management and operations (including legal, risk, human resource management [HRM], ethics, etc.)
Make sure to expand as necessary to ensure your audience can have a full understanding of your proposed plan.)
As discussed in the LASA: Working Ahead section, you will prepare a business plan on a specific project or an initiative to be implemented in the business areas covered by your respective MS program of study.
In Modules 1, 2, 3, and 4, you will have submitted individual assignments that will be part of the final document. The final document needs to be submitted as the course LASA. In this module, you will consolidate all the information collected throughout the course, organize the information, and prepare your business plan.
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also include a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also Include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.
Module Readings
Complete the following readings early in the module:
• Module overview
• From your course textbook, Entrepreneurship: Starting and operating a small business, read the following chapters:
o Entrepreneurs Recognize Opportunities
o The Business Plan: Road Map to Success
o Creating Business from Opportunity
o Appendix 1 The Daily Perc
• From the Argosy University online library resources, read the following articles:
o Baron, R. A. (2006). Opportunity recognition as pattern recognition: How entrepreneurs "connect the dots" to identify new business opportunities. Academy of Management Perspectives, 20(1), 104-119. doi:10.5465/AMP.2006.19873412.
o Davis, T. (2006). How many entrepreneurs does it take to change a nation? Business Strategy Review, 17(4), 68-73. doi:10.1111/j.0955-6419.2006.00438.
o DeTienne, D. R., & Chandler, G. N. (2004). Opportunity identification and its role in the entrepreneurial classroom: A pedagogical approach and empirical test. Academy of Management Learning & Education, 3(3), 242-257. doi:10.5465/AMLE.2004.14242103.
o Eesley, D. T.,& Longenecker, C. O. (2006). Gateways to intrapreneurship. Industrial Management, 48(1), 18-23. (ProQuest Document ID: 211621084).
o Ernst & Young (2011). Nature or nurture? Decoding the DNA of the entrepreneur.
o Komoszewski, J. (2011). Streamline your business plan, one note card at a time. Journal of Financial Planning, Practice Management, 24-25. (ProQuest Document ID: 857749134)
o Mullins, J. W. (2010). Voices: What to do before you write a business plan. Business Strategy Review, 21(4), 92-93. doi:10.1111/j.1467-8616.2010.00719.
o O'Brien, T. (2010). Time for an upgrade: Creating a 10-part business plan for career success. Public Relations Tactics, 17(1), 12.
o Schramm, C. J. (2004). Building entrepreneurial economies. Foreign Affairs, 83(4), 104-115. (ProQuest Document ID: 214291063).
• Module introduces you to the concept of entrepreneurship and the various advantages and disadvantages of conducting a business as an entrepreneur. In addition, it focuses on the business plan and the reasons for creating such documents, as well as on some recommendations for its contents and applications.