09 May HOW CAN A SMALL BUSINESS OWNER OVERCOME THESE OBSTACLES?
Unit 1.1 DB: Benefits of Business Ownership Discuss 2-3 major benefits of business ownership. Please reply to at lest three of your classmates postings. Unit 1.2 DB: Ethics and CSR Share your perspective and discuss with your classmates the following topic: Why are ethics sand Corporate Social Responsibility so important to a small company? Unit 2 DB: Business Plan In Unit 8 you will submit a Business Plan for a business of your choice. Discuss with your classmates the type of business you are planning on focusing on here gain insight from each other and begin working through a process that will narrow the possibilities for your business. Please comment on each other’s focus and help out in any way you can. Your topic must be submitted & approved by the instructor in week 3. Unit 3.1 DB: Selecing Management Teams How would you go about selecting a management team to run your business and what factors would you take into consideration? Also please respond to at least three of your classmates postings. Unit 3.2 DB: SWOT Analysis Perform a SWOT Analysis of the business you will be developing a Business Plan on. Once done provide your classmates with a sort summary of what you have learned. Unit 4 DB: Product Development How would you go about creating a new product / service and how would you market that it for your business? Also please respond to at least three of your classmates postings. Unit 5.1 DB: e-Commerce What are your feelings about e-commerce? Do you prefer a brick and mortar based business over a web based business? Maybe a combination of both? Reply to at least three of your classmates postings. Unit 5.2 DB: Mid-Point Check-in Please discuss the following 2 topics with your classmates: Your comments on the class so far: What you have learned what has worked for you and what did not work for you. Progress you are making on your Business Plan. Unit 6 DB: Location Location Location What criteria would you use for the location of a retail business or a service business? Why? Also please respond to at least three of your classmates postings. Unit 7.1 DB: Leadership What is needed in your opinion to make a good leader in a business? Do you have those qualifications? How do you surround yourself with good people to make your business flourish? Also please respond to at least three of your classmates postings. Unit 7.2 DB: Financials Discuss with your classmates your progress on sections 12 (Financial Forecasts) & 13 (Loan or Investment Proposal) of the Business Plan. Unit 8.1 DB: Social Responsibility Describe your business’ social responsibility to each of the following areas: the Environment Employees Customers Investors and the Community? Also please respond to at least three of your classmates postings. Assignment – Purchasing a Business Answer questions below. Copy each question and type your answers below it. Minimally 2 paragraphs per question 5-6 sentences per paragraph. Include content from the readings and your own research. Use APA formatting for cover page and when citing. Submit paper by Sunday at 11:59 pm. List several factors an entrepreneur should consider before choosing a form of ownership? Discuss the advantages and the disadvantages of franchising. When evaluating an existing business that is for sale what are several areas an entrepreneur should consider? Explain why. Assignment – Feasibility Answer questions below. Copy each question and type your answers below it. Minimally 2 paragraphs per question 5-6 sentences per paragraph. Include content from the readings and your own research. Use APA formatting for cover page and when citing. Submit paper by Sunday at 11:59 pm. What is involved in a feasibility analysis and what value might it provide? Why are pro forma financial statement important to the financial planning process? How can an entrepreneur launching a new business forecast sales? Mid-Term Assignment – Business Plan Outline Provide an outline of your Business Plan to date using either of the following options: 1) Option 1 -The Business Plan for a Startup Business document provided in Course Information – Introduction to Business Plan Assignment; OR: 2) Option 2 – The 14 elements of a Business Plan starting on course text page 268. Discuss your challenges and successes up to this point. Describe what you feel you may need help with. Assignment – Globalization Answer questions below. Copy each question and type your answers below it. Minimally 2 paragraphs per question 5-6 sentences per paragraph. Include content from the readings and your own research. Use APA formatting for cover page and when citing. Submit paper by Sunday at 11:59 pm. Describe the barriers businesses face when trying to conduct business internationally. How can a small business owner overcome these obstacles? What mistakes are first-time exporters most likely to make? Outline the steps a small company should take to establish a successful export program. List and outline (1 paragraph per strategy) the nine strategies that small businesses can use to go global. Assignment – Business Plan Update Submit an update on your Business Plan. With 3 weeks left to go discuss your progress to date challenges encountered and questions you may have. Due by Sunday at 11:59 pm. Final Assignment – Submit Small Business Plan Assignment Business Plan Assignment Everyone will have the opportunity to create a Business Plan proposal for a new or existing business product or service line. It is understood that 8 weeks is not enough time to develop a comprehensive plan and a fictional plan is perfectly acceptable under these circumstances. The idea here is to practice creating a plan and understanding the steps necessary for submitting a successful Business Plan. The plan does not have to be for a new business; it can include the following: An existing business you may like to buy Creating a new department or division in an existing company Developing a new product or service for an existing company (in essence you would be creating a new deparatment or division that would essentially start from the ground-up) Other ideas you have with permission of the instructor Many students take this opportunity to develop a plan for a business they would like to start part-time now in the near future or once they retire. This is perfectly acceptable and certainly encouraged. The idea is to get you excited about the process and possibility of actually using this research you will perform for the actual plan once the time is right. Attached to this section is reference material that will help you better understand the structure and content of the Business Plan. Although very comprehensive it is understood that the expectations for emulating these plans are significantly lowered for this course. It is important to address each element of the Business Plan in your proposal and the text does a great job in explaining this process. If you have any questions about any of the steps please contact me for assistance. There are also discussion board questions specifically designed to help you navigate this process. You will have the opportunity to discuss your progress with other students and benchmark your progress. Your business plan will be graded according to the following rubric: Business Plan Rubric Task Point Value (out of 100) Proper APA format spelling grammar citations and references 20 points Proper use of terms and concepts from the course – minimum 5 researched articles for background all within past 5 years 30 points Insights from and application of course material 30 points Practical application of course concepts – personal reflection on learning outcomes as they relate to this project 20 points
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