26 May MGT/465 wk2
| Title
ABC/123 Version X |
1 |
| Business Venture Preparation
MGT/465 Version 2 |
1 |
University of Phoenix Material
Business Venture Preperation
Part One: Business Venture Preparation
The business our team chose is: Products Business
| Bakery |
Our justification for choosing this business is:
| Team Member | Team Member Name (Nena) | Team Member Name (Anna) | Team Member Name (John) | Team Member Name
(Jessica) |
| Role | Research Results | Target Market | Competitor Data | 350 word summay |
| Role | Reflection and Observations | Reflection and Observations | Reflection and Observations | Reflection and Observations |
| Role | Discuss if the business venture will be a full-time commitment or will start-up team members commit to part-time involvement. | Discuss if the business venture will be a full-time commitment or will start-up team members commit to part-time involvement. | Discuss if the business venture will be a full-time commitment or will start-up team members commit to part-time involvement. | Discuss if the business venture will be a full-time commitment or will start-up team members commit to part-time involvement. |
| Role | Discuss how the team members will get buy-in from family members to enter into this business venture. | Discuss how the team members will get buy-in from family members to enter into this business venture. | Discuss how the team members will get buy-in from family members to enter into this business venture. | Discuss how the team members will get buy-in from family members to enter into this business venture. |
Respond to the following questions regarding team member commitment to the business venture:
1) Discuss and document if the business venture will be a full-time commitment or will start-up team members commit to part-time involvement.
2) Discuss and document how the team members will get buy-in from family members to enter into this business venture.
Part Two: Market Research
Complete the following template based on the team’s marketing research results for your business venture:
| Marketing Element | Research Results |
| Consumer Need for
Product or Service |
|
| Target Market | |
| Economy of Chosen
Location/City/Region |
|
| Consumer Demographics | |
| Industry Research | |
| Barrier to Entry
|
|
| Current Market Saturation
|
|
| Suppliers
|
|
| Legal Business
Structure to be used and justification for selection |
|
| Government
regulations to be Considered-Local, State, and Federal |
|
| Types of Insurance to
Consider |
|
| Competitor Data | |
| Pricing Model
|
|
| Business Model
|
|
| Business Model Key
Customers |
|
| Suppliers
|
|
| Business Size (Annual
Revenue $ ) |
|
| Business Location
|
|
Part 3: Reflection and Observations
Answer the following questions:
1) What role did each team member provide to obtain business plan information?
2) What roadblocks did the team face when obtaining required information?
3) What lessons were learned during the week’s Learning Team assignment,which can be applied during the specific phase of business start-up?
4) What is the team’s overall observations of this week’s assignment relative to the type of information needed to develop a comprehensive business plan?
5) How does this week’s Learning Team assignment support the Learning Objectives?
References
APA-formatted citation
APA-formatted citation
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