Dear Valued Entrepreneurs,
As discussed in class, this course is your opportunity to start up your own, real, successful business. A 25% component of the course’s grade is this “Business Plan Term Project”, which demonstrates your ability to integrate concepts presented in class, to conduct research, to organize material, and to effectively utilize all in writing a business plan for a new venture.
Your Business Plan Term Project could be based on an original new venture idea as either (a) individual partner entrepreneurs, or (b) out of an existing organization (corporate entrepreneurship), i.e., a new product or service which would lead to a new business unit in an existing firm. In both cases, an essential part of the project assessment is that your start-up be based on a new business concept around a product/service. Novelty of the idea can be met not only by introducing a totally new product/service, but also in the product/service presentation, order process/circulation, business atmosphere, outlet layout and interiors, packaging, context, distribution channel/module innovation, service combination, speed of delivery, user-friendliness, etc.. The plan will include all phases of the new start-up, from recognizing the idea, concept background, qualifying the idea to a business opportunity, delivering the product or service, marketing, financing/financials and human resources, up to future growth and exit strategies. Work will be in teams of 3 students per team, unless otherwise agreed in class, where functional roles must be assumed by each team member, and clearly identified. Each member’s individual contribution towards the business will have to be obvious and evident in preparing the business plan.
Two submissions are required for this project:
1) Business Plan Document: A written report to be uploaded as a soft copy through this assignment’s link.
2) Presentation Copy: 10-15 minute presentation in class, with a soft copy of your presentation to be uploaded through this assignment’s link.