Entrepreneurship and Innovation

Posted on by

BUS 521 Chapters 1 to 3

 

BUS 521 – Entrepreneurship and Innovation

 

 

 

REQUIREMENTS FOR ALL ASSIGNMENTS

All four parts of the assignments must follow these formatting requirements:

  • Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
  • Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
  • Note: Wikipedia, blogs, unqualified/unreliable sources, and similar Websites do not qualify as quality resources. Reference material should be dated within the last 5 years and come from journals, books, e-books, websites, etc.

 

Required Course Textbook and Resource:

 

***This assignment covers chapters 1- 3 of the required textbook****

 

Abrams, R. (2012). Entrepreneurship: A real-world approach. Palo Alto, CA: PlanningShop. 

 

Electronic Financial Worksheets. (2012). Palo Atlo, CA: PlanningShop.

 

Course Supplemental Resources

Brik, A. B., Rettab, B., & Mellahi, K. (2011). Market orientation, corporate responsibility, and business performance. Journal of Ethics, 99(3), 307-324.

 

Hult, G. T. (2011). Market-focused sustainability: Market orientation plus. Journal of the Academy of Marketing Science, 39(1), 1-6.

 

Jeong, H., Cho, H., Jones, A., Lee, S. & Lee S. (2012). Business process models for integrated supply chain planning in open business environment. Journal of Service Science and Management (JSSM), 5(1), 1-13..

 

Noruzi, M. R., & Irani, F. N. H. (2011). Strategy, strategic planning, marketing: What are the implications of strategic thinking in market development? Contemporary Marketing Review, 1(3), 26-29.

 

Nolan, S. (2012). Leadership. Strategic HR Review, 11(2), 63.

 

Waweru, M. A. S. (2011). Comparative analysis of competitive strategy implementation. Journal of Management Strategy, 2(3), 49.

 

·      Clarity, writing mechanics, and formatting requirements. Zero to one (0 – 1) errors present at maximum and plagiarism will not be accepted. By submitting this paper, you agree: that you are submitting your paper to be used and stored as part of the SafeAssign™ services in accordance with the Blackboard Privacy Policy. SafeAssign™ is a plagiarism checker.

 

Assignment 1: Business Plan Part I – Business Vision

Note: Refer to scenarios and reading assignments from previous weeks to complete this assignment.

 

Imagine you are hired by a new start-up company. You are tasked to recognize and explore a new business opportunity of creating a new product or service for your company. As part of your new business vision, you will create a business plan describing all keys elements of the business opportunity which will ultimately be presented to an executive team in a venture capital group for possible funding and execution.

 

Part I of the business plan will describe your business vision you plan to undertake in your company.

 

Write a minimum of six (6) pages in which you:

  1. Compile a business vision about the type of product or service you think your company needs to develop. Next, describe the business values and corporate values that you want to create.

           

            Thoroughly compiled a business vision about the type of product or service you

            think your company needs to develop. Thoroughly described the business values          and corporate values that you want to create.

 

  • Determine the need for the new product or service. Next, provide an overview of the market you intend to enter, and defend why this market is ripe for the introduction of this product or service at this particular time.

 

            Thoroughly determined the need for the new product or service. Thoroughly        provided an overview of the market you intend to enter; thoroughly defended why          this market is ripe for the introduction of this product or service at this particular

            time.

 

  • Determine the type of business model you will use for your new business opportunity. Support your response.

 

            Thoroughly determined the type of business model you will use for your new       business opportunity. Thoroughly supported your response.

 

  • Formulate a feasibility analysis, and determine whether the new product or service is feasible. Identify the roadblocks that you will likely face.

 

            Thoroughly formulated a feasibility analysis; thoroughly determined whether the            new product or service is feasible. Thoroughly identified the road- blocks that you            will likely face.

 

  • Evaluate the data from your analysis, considering the source and time period. Justify the future financial condition of your company.

Normal
0

false
false
false

EN-US
JA
X-NONE

/* Style Definitions */
table.MsoNormalTable
{mso-style-name:”Table Normal”;
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-priority:99;
mso-style-parent:””;
mso-padding-alt:0cm 5.4pt 0cm 5.4pt;
mso-para-margin:0cm;
mso-para-margin-bottom:.0001pt;
mso-pagination:widow-orphan;
font-size:12.0pt;
font-family:”Cambria”,serif;
mso-ascii-font-family:Cambria;
mso-ascii-theme-font:minor-latin;
mso-hansi-font-family:Cambria;
mso-hansi-theme-font:minor-latin;
mso-ansi-language:EN-US;
mso-fareast-language:EN-US;}

Note: Refer to scenarios and reading assignments from previous weeks to complete this assignment. In Part I of your business plan, you explored a business opportunity for your company. You identified your business model, formulated your feasibility statement, and evaluated your data. In Part II, you will conduct a competitive analysis and strategic assessment of the proposed venture, balancing the possible risks and opportunities your company will face. In addition, you will provide the financial requirements for the venture capital group to evaluate. Write an eight (8) page paper in which you: 1. Conduct a competitive analysis in which you explain the sources of competition, the strengths of your competitors’ companies, and the other factors affecting your ability to compete. 2. Provide at least three (3) strategies and three (3) marketing tactics for attracting first­time customers. 3. Determine five (5) kinds of strategic positions that are available to you for your business plan. Next, determine the types of opportunities the strategic positions bring to your business both internally and externally.  4. Determine the key types of risks your business opportunity will face both internally and externally. Provide strategies to mitigate these risks. 5. Assess the different sources of funding available for funding entrepreneurial ventures in terms of the possible value they can bring to your venture. Next, explain the funding strategy your venture will undertake. 6. Create a report of operating costs required for your product or service venture, using the PlanningShop’s Business Plan Financial package. Note: The PlanningShop’s Business Plan Financial package can be found in the Student Center of the online course shell. 7. Prepare a break­even analysis in which you explain the report you created to the venture capital group. 8. Use at least five (5) quality resources in this assignment. Note: Wikipedia and similar Websites do not qualify as quality resources. The specific course learning outcomes associated with this assignment are: • Examine the creativity and business idea process, and the materialization of domestic and foreign market entry opportunities. • Analyze the financial planning process for a new venture. • Analyze the process of protecting the new venture idea and legitimizing it through a formalized business plan. • Analyze different sources of capital to determine the appropriate financing for a business venture.  • Examine the marketing planning process for new ventures. • Use technology and information resources to research issues in entrepreneurship and innovation.  • Write clearly and concisely about entrepreneurship and innovation using proper writing mechanics. Assignment 3: Business Plan Part III – Business Initiative and Technology Note: Refer to scenarios and reading assignments from previous weeks to complete this assignment. In Part III of your business plan, you will consider how your new business initiative will affect operations in your company. You will also evaluate different technologies and introduce the type of technology that will help you make a more efficient and high quality product or service.  Write a five (5) page paper in which you: 1. Analyze the options available for producing the product or service. Next, evaluate which of the available options you can take to streamline operations. 2. Determine how the product or service will meet consumer needs. 3. Assess at least four (4) types of technologies that will improve the quality of the product or service. Explain how the technologies will help enhance capabilities and customer loyalty. 4. Identify at least three (3) technology policies that will apply to the product or service initiative. Next, analyze five (5) ways how those policies that you have identified affect your product or service initiative. 5. Use at least five (5) quality resources in this assignment. Note: Wikipedia and similar Websites do not qualify as quality resources. The specific course learning outcomes associated with this assignment are: • Analyze the strategies for managing growth, the implications for growth, and sources for business growth. • Use technology and information resources to research issues in entrepreneurship and innovation.  • Write clearly and concisely about entrepreneurship and innovation using proper writing mechanics. Assignment 4: Written Business Plan and Presentation Note: Refer to scenarios and reading assignments from previous weeks to complete this assignment. This assignment consists of two (2) sections: a written business plan and a business plan PowerPoint presentation. You must submit the two (2) sections as separate files for the completion of this assignment. Label each file name according to the section of the assignment it is written for. Section 1: Written Business Plan You are now in the final stage of the business plan development. All previous documentation must be combined into one (1) document that will serve as the statement of work for the business plan. Your goal is to have the plan approved by the executive team in the venture capital group. The business plan is very detailed. However, the executive team is only interested in a ten (10) minute summation. Therefore, you also must create a compelling executive summary, in which you justify your new product or service venture and how it would benefit the company. You will also include your conclusion and recommendations as the final part of your business plan.  1. Write a four (4) page executive summary in which you provide a high­level technical overview of your business plan.  2. Combine all previous documentation into one (1) document that will serve as the statement of work for the business plan where you address the following: a. Part I of your business plan – Your business vision including business opportunities, business model, and feasibility analysis b. Part II of your business plan – Competitive analysis and strategic assessment including competitive analysis, strategies and marketing tactics, risks and mitigation strategies, funding, strategic positions, and cost operating report c. Part III of your business plan – Business initiative and technology including business initiative, technologies, and technology policies 3. Provide a conclusion and recommendations in which you: a. Analyze the new business opportunity and the strategies undertaken to support this business initiative for the company.  b. Assess the benefits and explain the potential business growth of the new product or service. Note: Ensure to carefully evaluate each of the risks. c. Determine which aspects of your corporate culture will help make the company successful in your approach. Support the response. d. Develop a set of recommendations for the company which justify why the management team should consider this new business strategy. Section 2: Business Plan PowerPoint Presentation In addition to your written executive summary, you will provide the venture capital group with a presentation addressing all major points of your business plan.  4. Create a twelve (12) slide PowerPoint presentation in which you: a. Illustrate all major points of your business plan. Note: Follow the outline of your paper, starting with the executive summary and make sure to use headings to identify the sections.  b. Provide a rationale for each major point of your business plan and justify why this venture should be undertaken. c. Provide one (1) summary slide of the conclusion and recommendations.  d. Create bulleted speaking notes for the presentation to the executive board in the Notes section of the PowerPoint. Note: You may create or assume any fictitious names, data, or scenarios that have not been established in this assignment for a realistic flow of communication.  The specific course learning outcomes associated with this assignment are: • Analyze the entrepreneurial process to determine where a company is in the process and how to implement change successfully.  • Examine entrepreneurial intentions and strategies to support entrepreneurship.  • Examine the creativity and business idea process, and the materialization of domestic and foreign market entry opportunities.  • Analyze the financial planning process for a new venture.  • Analyze the process of protecting the new venture idea and legitimizing it through a formalized business plan.  • Analyze different sources of capital to determine the appropriate financing for a business venture.  • Examine the marketing planning process for new ventures. • Analyze the strategies for managing growth, the implications for growth, and sources for business growth. • Use technology and information resources to research issues in entrepreneurship and innovation.  • Write clearly and concisely about entrepreneurship and innovation using proper writing mechanics.