BDO_Dunwoody_New_Venture_Creation_Project_08_final_draft

BDO_Dunwoody_New_Venture_Creation_Project_08_final_draft -...

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The BDO Dunwoody New Venture Research Project and Competition Business 111/121 2008/2009 Introduction The BDO Dunwoody New Venture Research Project and Competition represents the most demanding portion of the Lab component of the Business 111 and Business 121 courses. This exercise will test your group’s ability to perform independent research, to manage time effectively, to manage the diverse skills, talents, and capabilities of four or five different individuals within your group, to make a formal presentation of your findings to the rest of your lab, and to write up your findings in the form of a formal business report. Laurier’s School of Business and Economics is a professional program whose mission is to train individuals to assume responsible positions in management upon graduation. Management can be defined as “the process of working with and through individuals, groups, and resources to achieve common organizational objectives.” In a very real sense, the New Venture Project will test the managerial capabilities of each participating group and their respective group members. Groups that are able to plan, organize, and control their activities in an efficient and effective fashion, and motivate other group members to commit to the task, will find the new venture project to be one of the most challenging and satisfying experiences of the entire BBA program. Groups that are unable to manage themselves effectively will find the project to be a truly onerous task. The Nature of the Project The project will span the entire academic year. In Business 111 each group will be expected to: a) Develop a “formal concept statement” for a new business venture. Each group will submit their formal concept statement on Friday, October 10 for review, grading, and feedback. and b) Demonstrate the feasibility of the concept. Each group will be required to to conduct a formal “feasibility analysis” of their proposed new venture. This “feasibility analysis” will be submitted for grading on Monday, November 17. The final portion of the Business 111 component of the project will culminate in the last two weeks of Labs in Business 111 wherein each group will make a formal presentation of their new venture concept and demonstrate its feasibility to the remainder of their lab.
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In Business 121 each group will be expected to develop a formal business plan for their proposed new venture and present that plan to a group of potential lenders and investors. The Process to be Followed a) Phase One: Generation of the Idea for a New Venture and Completion of the Concept Statement: Due Friday, October 10, 2008 All BBA students will be assigned to groups in their first week of Labs. Once formed, groups should immediately begin the process of determining an idea for a new business venture. To assist groups in this phase of the project all group members should read Chapter Two “Recognizing Opportunities and Generating Ideas” from the text Entrepreneurship: Successfully Launching New Ventures,
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