BUS101_Business_Plan_Team_Project_Instructions[1]

BUS101_Business_Plan_Team_Project_Instructions[1] - Rev....

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Rev. 7/27/09 BUS101 Business Plan Team Project Instructions The semester long project for BUS101 is the creation of a professional business plan. This is a VERY large project that must not be put off if you intend to complete it within the allotted time frame. It is very obvious to your professors if you have procrastinated during the semester and turned in an incomplete project. This paper will be graded based on the combined efforts of your TEAM OVER A 3 MONTH PERIOD. For your Business Plan Team Project, you will be working in teams to prepare a business plan. The purposes of this assignment are to: 1. Provide an opportunity to demonstrate your knowledge and understanding of common business terminology and concepts 2. Assist you understand the interrelationships among the various business functions 3. Assist you develop project management skills (e.g., task organization, logistics, workload management, motivation, and dealing with group dynamics) that will be useful in a variety of settings 4. Provide a hands-on experience in a common and useful business activity A good business plan requires a great idea, outstanding research and analysis coupled with a comprehensive and compelling argument for why the business is likely to succeed. The Idea: You and your teammates need to come up with an idea for a SMALL business or not-for- profit organization. Your idea needs to be feasible, realistic, and relatively low cost (you CAN’T afford to start an automobile factory, night club, or a multi-million dollar venture). In developing an idea, use your personal experiences as a resource. Sometimes the best ideas come from a daily activity that you consider can be done better, less expensively or with a better product. For example, you may want to focus on products or services that would appeal to college students or customers within your demographic. Some of the most successful ideas were very simple; remember “The Pet Rock”, the “Hula Hoop”, and don’t forget the “Slinky.” An idea is only great if you can differentiate yourself from your competition in a meaningful way. Simply saying that you will be cheaper, faster, or nicer is not sufficient enough to differentiate yourself. Also, make sure that you have enough potential customers to support your great idea. What’s a great idea if there aren’t enough customers to support the life of your business!!! It’s Easy Being Green: The idea of going “Green” is being promoted in nearly every industry. In an effort to save the planet and reduce our carbon footprint, many businesses are beginning to examine areas of their business that can be modified to be more Earth friendly. Sometimes this effort yields savings, sometimes it costs more. In keeping with this idea,
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Rev. 7/27/09 some portion of your business plan idea should be “Green.” You can decide how much “Green” you want to tackle, but make sure that it is obvious to the investor!! Restrictions:
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BUS101_Business_Plan_Team_Project_Instructions[1] - Rev....

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