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BUSI 1110 TERM PROJECT - BUSINESS PLAN

100 marks (75 marks as below; 25 marks for citations, language, and grammar)

INSTRUCTIONS:

· Use the headings as indicated below (eg. Section 1, Section 2, etc.) in your paper

· Use APA citations (both in-text and References page)

· Write clearly and concisely

· Ensure your answers contain research and/or evidence to support your answers and present the answers as if you are convincing an investor to invest in your business and explaining the merits of this business to another business professional (i.e. “I want to open a hamburger stand because I like hamburgers” is NOT an answer that will receive any marks!!)

· You will notice that each section corresponds to a chapter in the textbook and reflects one or more of the questions at the end of the chapter under “Building a Business: Continuing Exercise”

SECTION 1 – INTRODUCTION (5 marks)

· Identify the product or service that your new business will focus on.

· Include details with appropriate research to explain why you chose this product or service

SECTION 2 – THE BUSINESS ENVIRONMENT (5 marks)

· Describe the importance of research and development when launching your business as well as the importance of ongoing research to develop new features.

SECTION 3 – ETHICS (10 marks)

· Identify at least 3 ethical issues that could potentially arise while operating your business.

· Describe in detail how you will address these potential issues?

SECTION 4 – ENTREPRENEURSHIP, SMALL BUSINESS, AND NEW VENTURE CREATION (5 marks)

· Explain whether it makes more sense for you to start from scratch, to buy an existing business, or to buy a franchise. Why?

SECTION 5 – MANAGING THE BUSINESS ENTERPRISE (10 marks)

· What are the specific business goals of your new venture?

· Create a mission statement for your new business.

SECTION 6 – ORGANIZING THE BUSINESS ENTERPRISE (10 marks)

· Draw an organizational chart for your business showing job titles and reporting relationships in one year’s time.

· How do you think your organizational structure will change in 5 years?

SECTION 7 – MANAGING HR AND LABOUR RELATIONS (5 marks)

· Describe your system for performance appraisal and training. How will you reward good employees? When you have weak employees how will you change their behavior?

SECTION 8 – MOTIVATING, SATISFYING, AND LEADING EMPLOYEES (5 marks)

· Using one of the theories of motivation presented in the text, explain how you will motivate your employees.

SECTION 9 – OPERATIONS MANAGEMENT (5 marks)

· In what ways, if any, will supply chains be of concern for your business? If you don’t see your business as being involved in supply chains, describe why not and whether you will use supply chains in the future.

SECTION 10 – UNDERSTANDING ACCOUNTING (5 marks)

· Create a list of the types of transactions your accountant will record, including the purchase and sale of assets as well as revenues and expenses with details relevant to the business you are proposing.

SECTION 11 – MARKETING (5 marks)

· Identify your business’s product/service mix. Explain why you’ve chosen this particular product/service mix

SECTION 12 – PRICING, PROMOTING, AND DISTRIBUTING PRODUCTS (5 marks)

· What is your target market? Support your answer with appropriate research.

· How will you attract customers? Support your answer with appropriate research.