ASSIGNMENT:
Write a 10 page paper in APA format, 12pt font, Times Roman, in text citations. A minimum of (6) scholarly references in addition to the course text book.
PURPOSE OF ESSAY: You are meeting with a business consultant to discuss the idea of launching a new venture. The consultant asks you a series of questions. Use the information provided in your textbook to formulate your answers.
The paper must cover the following points:
#1 An overview of the type of business you will be opening.
#2 An overview of the economic environment in which the business will open.
#3 A discussion about what kind of start-up funding will be used for the business venture.
#4 A discussion of the marketing and operations of the business.
#5 How do you plan to grow your business?
ALSO: Additionally, choose a minimum of (5) questions below to include in your consultation:
#1. Why is it important that you conduct a feasibility analysis before launching your new venture?
#2. At some point in the process, you'll need a business plan. Describe the major sections of your business plan?
#3. Analyze the five competitive forces that determine industry profitability for your business.
#4. Do you plan to formulate a code of conduct and an ethics training program for your firm? Why, or why not?
#5. How will you structure your business? Discuss the differences among sole proprietorships, partnerships, corporations, and limited liability companies.
#6. Do you know what you are trying to accomplish, financially? Identify the four main financial objectives of entrepreneurial ventures and state your goals.
#7. How do you know you are cut out to be an entrepreneur? Describe the personal attributes that strengthen a founder's chances of successfully launching an entrepreneurial venture.
#8. How will you go about selecting your target market? Do you even need to?
#9. What are the four major forms of intellectual property? How will you protect your firm's intellectual property?
#10. As you grow, which will you pursue: internal or external growth strategies? Why?
#11. What are the keys to effective new product development?
#12. Have you considered purchasing a franchise as a way to grow your business? Why, or why not?
GUIDELINES: Essay must integrate at least the following elements: ALSO: An effort to use evidence and argument flow as to instill a sense of trust into your reader.
ESSAY OUTLINE: Cover page, Introduction, Thesis statement, Purpose of paper, Overview of paper, Body/Findings/Lessons learned, Conclusion - Summary of main points.
COURSE TEXTBOOK: Entrepreneurship: Successfully Launching New Ventures, 5th Edition Print: ISBN: 9780133797190, 0133797198 eText: ISBN: 9780133797411, 0133797414 Author(s): Bruce R. Barringer, R. Duane Ireland