Week 1

The business should be based on a BARBERSHOP.

INTRODUCTION/EXTERNAL ASSESSMENT

For week one, put your creative hat on and decide on a type of small business you can start. You will reference this same business idea throughout each week's assignments, so think it through carefully. A starting point is to closely evaluate where opportunities may exist and threats do not appear to be overwhelming. An analysis of the current (and future) general environment and an industry-specific environment are needed to ensure success. Begin your project by discussing the following:

   1. Evaluate external forces that affect organizations: specifically economic, social, cultural, demographic, natural environment, political, governmental,legal, and technological forces. Does the current state of these forces create any opportunities that you can see ? Do these forces represent a threat to your business idea being a successful venture? 

  2. Describe the competitive forces that exist for the industry in which you are opening up a small business. 

  3. Finally, state your basic small business idea. We will build on this basic idea throughout the course--so you do not have to have every detail completed--just a basic premise. For now, simply explain why you believe this idea could work in light of your analysis in #1 and #2 above.