10-15 Pages Business Policy Paper

Professor Vitt Business Policy

Business Case Project Requirements 52-620-450

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BUSINESS POLICY

Business Case Project Requirements

1.0 Scope:

At this point in your Rutgers University education you have successfully passed many courses that

are preparing you for your future career. This project is your opportunity to apply your critical

thinking by using all your learned knowledge and think out of the box. This project challenges

you to put your education to use by creating a framework for starting your own business. You

have learned all about various topics throughout your education experience. Now is the time to

pull it all together and develop your own business plan.

2.0 Requirements:

This project will require you to develop a Business Plan for creating a business of your own

choosing. Using the concepts learned throughout this Business Policy course, you will apply

critical thinking to establish your Business Strategy, create a SWOT analysis, think about Porter’s

Five Forces and their impact on your company, thoroughly evaluate the external environment,

understand your applicable supply chain, create differentiator that cannot be imitated and

ultimately how to launch your business. Think of this project not as just another “report I need to

do for school”. Rather use this opportunity to seriously think about being your own boss and

creating a product or service that fulfills a need in the marketplace!

3.0 Business Case Project Format:

The format “guideline” and structure of the Research Project is recommended to be in accordance

with the current American Psychological Association, APA, structure. If you are not familiar with

this format, then that will be the beginning phase of your research. Please refer to

www.apastyle.org for guidance and additional information. THIS IS ONLY A GUIDELINE.

Feel free to create your Business Case as you see fit but you are required to address the minimum

criteria as detailed in Section 4.0, herein.

The length of the Business Case is what you feel is appropriate to completely define your idea and

address the required criteria. As a guide, I would expect the Business Case would be a minimum

of ten to a maximum of fifteen pages of text using a format of Times New Roman, 12 pt. font, 1.5

spacing as guidance.

Professor Vitt Business Policy

Business Case Project Requirements 52-620-450

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4.0 Business Case Content:

The following are the minimum sections that you are to address in your Business Case. As you

develop your Business Case it is expected you will want to expand on some sections in greater

detail than others, which is perfectly acceptable. You may also find that you will want to include

additional sections and topics as you come across them when doing your research and

development.

4.1 Business Strategy

In the opening section you are to define your Business Strategy. What is the nature of your

business as defined in a succinct statement? What is your competitive advantage and mission of

the company?

4.2 Business Description

In this section you are to fully elaborate on the type of business you wish to start and what are your

key differentiators. Major topics to be covered in this section will include:

• Will this be a product or service?

• Will this be a profit or non-profit organization?

• Will this be limited in product or service offerings or be diversified?

• What markets will you compete?

• What resources will you require?

• How will you sustain your differentiation?

4.3 Porter’s Five Forces

Understanding the five forces that Porter describes will enable you to understand what factors you

will need to be mindful of and how to address them. Detail out each of the forces and how you

will best implement processes or elements of your business that will address these forces:

• Threat of new entrants

• Threat of substitute products

• Supplier Power

• Buyer Power

• Rivalry

4.4 General Environment

Porter’s five forces only address part of the external environment. In order to ensure your sustained

success, you will need to acknowledge and consider the additional factors and forces that are

contained in the General Environment. Consider each of these forces and of those that would

impact your business how will you plan to address that element? These additional Opportunities

and Threats in the General Environment are:

Professor Vitt Business Policy

Business Case Project Requirements 52-620-450

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• Complimentary Products / Services

• Advances in Technology

• Economic Conditions: improving / declining

• Customer Demographics

• Environmental challenges

• Global forces of change

• Governmental and regulatory changes now and pending

• Social / Cultural issues existing and trending

4.5 Strategy Tool

While not a mandatory requirement for you to include, the Strategy Tool, Figure 2.4 at the end of

Chapter 2 that evaluates the intensity of the five forces in your target marketplace is highly

recommended. This tool will help you to assess the competitive forces and provide quantifiable

rating as to the overall attractiveness of the target market space.

4.6 SWOT Analysis

In order to be successful, you must be knowledgeable about your internal strengths and weaknesses

and the external environmental opportunities and threats. Fully detail each of these and address

how you will overcome their respective challenges. Use the VRIO Model of Sustainability to

ensure you have addressed the necessary threats.

4.7 Cost Strategy

Costing of your product / service will be a direct determinant of your success. You must have a

well thought out strategy for pricing of your products and services. Will you be the low-cost

provider or differentiate your offerings such that you may be able to command a higher price point.

What are your breakeven costs?

4.8 Differentiation

Understanding your product or service differentiation is critical to creating a successful business.

What need are you attempting to fulfill? Is there a demand for your product or service and how

does your idea differentiate itself from what is already out in the industry? Don’t worry about

growing your brand image, that will come in due course. Focus instead on why customers will

want to buy your product or service.

4.9 Innovative Approaches

Think about new ways to fully develop and deliver your product or service and compete against

existing rivals. How will you use social media, websites, technology, etc.? How are you going to

get your business known and accessible to your target consumers?

Professor Vitt Business Policy

Business Case Project Requirements 52-620-450

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5.0 Deliverables:

Your Business Case is due by the date specified in the Course Syllabus.

All Business Case project submissions are to be emailed to the Professor in .pdf format. No other

format will be accepted. If you do not submit the project in .pdf format it will be rejected.