Assignment 1
Part One: Executive Summary Elements
Learning Team's Vision Statement for the business is:
Part Two: 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?
Assignment 2
Part One: Business Venture Preparation
The business our team chose is:
Bakery
Our justification for choosing this business is:
A bakery is a viable business opportunity. There is a strong urge for fresh, baked food in the community. Few bakeries however, exist to satisfy the need.
The team therefore, decided to introduce a bakery to fill the gap. In addition, the team has a wealth of experience in baking.
The experience will be an added advantage in offering quality products to the consumers.
List each team member's name and the role that they will be playing on the Business Start-up Team.
Team member roles should accurately define the expertise each member contributes to the development of the business venture. Team members can possess more than one expertise.
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:
Part three : Reflection and Observations
Answer the following questions:
Our marketing template was comprised of the opinions and oppositions within the team. We decided to base our business on Murfreesboro Pike, in Nashville Tn., with Nashville becoming a major consumer location; thus, the reasoning behind the location choice.
Our demographics are pretty much everyone in the immediate area as a whole, with the current market in the area, we face medium saturation.
The idea of working as an LLC, we as a group, thought this was the best way to conduct our business.
With several of us investing in the business, this gives all of us a chance to brainstorm ideas to grow the business rather than every person working as day to day operations managers of the business.
All food and safety laws will be enforced to pass inspection. We will be purchasing bakery insurance to ensure we have no lawsuits or mishaps within the business.
1) What roadblocks did the team face when obtaining required information?
2) What lessons were learned during the week's Learning Team assignment,which can be applied during the specific phase of business start-up?
3) 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?
4) How does this week's Learning Team assignment support the Learning Objectives?
Attachment:- Task data.rar