JWI 575 New Business Ventures and Entrepreneurship Homework: New Venture- Launch Plan- Jack Welch Management Institute
OVERVIEW
In this homework, you will continue your research and planning to design and implement a new product or service. Based on the innovative "big idea" and the vision that you developed in Homework, you will now write a Launch Plan, in which you describe your management structure, launch strategy and impact, team composition, skillsets needed, and funding plan.
INSTRUCTIONS
Write a Launch Plan Paper of 3 to 4 pages. Also add a short Introduction and Conclusion. You may find it helpful to write your Introduction after completing the main body of the paper.
Use ONE of the two Outlines below, depending if your new product or service line is to be added within an existing business (Intrapreneur) or launched as a start-up business (Entrepreneur).
Outline for Option I: INTRAPRENEUR
1) Company and Management Structure:
• Will the new product or service line be part of the current company legal structure? If so, describe the current company legal structure? If not, describe the new company legal structure (e.g. subsidiary, joint venture).
• Will the new product or service line require a separate management team or be a project within anexisting management team?
2) Impact on the Business Model:
• Does the new product or service line fit within the current company's mission, vision, and values? If not, does the mission, vision, or values need changing?
• How complementary is the new product or service line to the existing products or services of your company? What does the new line add that will benefit existing customers? How could it attract the interest of potential new customers?
3) Team and Skillsets:
• Describe the team you propose, to launch the new product or service line. How many people will you need and what will their roles be?
• Describe the skill-sets you will need for this project. Are these available in the talent pool at your company? If not, what hiring needs do you have?
4) Financials:
• Summary Income statement: provide a profit and loss statement summary by Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University. This course guide is subject to change based on the needs of the class year and project the profit and loss data out three years.
• Rationale and Assumptions: explain the rationale and assumptions that support your revenue and cost data
Outline for Option II: ENTREPRENEUR
1) Company and Management Structure:
• What legal structure will you choose for your new company? Why did you choose this particular structure?
• Where will you run your business in the first 1 to 3 years? Your home? By renting an office? In a shared space? Downtown or in the suburbs? Why?
2) New Business Launch Strategy:
• Most new businesses start in one geographical area and sell locally to test out their concept's viability. Where will you start? Why did you pick this area?
• How will you let the local community know about your new business? Will you hold a launch event? In what other ways will you advertise?
3) Team and Skillsets:
• List the key members of the initial management team, and describe the responsibilities of each person
• Describe the skillsets you will need for your business. How will you make sure you have access to these skillsets (e.g. hiring, contracting, partnerships)?
4) Financials:
• Summary Income statement: provide a profit and loss statement summary by year and project the profit and loss data out three years.
• Rationale and Assumptions: explain the rationale and assumptions that support your revenue and cost data
Format your homework according to the give formatting requirements:
• The answer must be using Times New Roman font (size 12), double spaced, typed, with one-inch margins on all sides.
• The response also includes a cover page containing the student's name, the title of the homework, the course title, and the date. The cover page is not included in the required page length.
• Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.