Question Details

[answered] MGT 190. Entrepreneurship MGT 190. Entrepreneurship Assignm


Need help with a business plan assignment please see attachment?


MGT 190. Entrepreneurship MGT 190. Entrepreneurship

 

Assignment

 

Mgt 190 is one of two capstone courses for students in the BBA degree program.

 

The goal of both courses is to encourage students to draw upon their knowledge

 

and insights in order to address real world business problems.

 

Please follow the Syllabus listed in Course Information on when to complete this

 

assignment for the course.

 

When submitting assignments, please follow these instructions:

 

Document Structure: Assignments should be submitted in Microsoft Word or RTF

 

format. They should be professional looking and include a first page containing:

 

? Your Name

 

? Your StudentID

 

? Course Number

 

? Course Name

 

? Title of the Assignment

 

All documents should have page numbers as well.

 

Introduction

 

When venture capitalists are asked what they consider most carefully when

 

deciding whether or not to fund a new venture, they consistently respond: ?We

 

are most concerned with the quality of the management team and the quality of

 

the business plan.?

 

The business plan is an important component of a business start-up. It forces

 

the business owner and his/her management team to reflect seriously on the

 

goals of their venture and the steps necessary to launch and maintain it

 

successfully. The very act of constructing a business plan offers an important

 

learning experience to the business owner, because it requires him/her to take a

 

comprehensive view of all aspects of the new venture: organizational, financial,

 

marketing/sales, legal, operational, and IT. 2016 University of Management and Technology 1 MGT 190. Entrepreneurship Outside investors find the business plan to be important because it offers

 

them a revealing picture of how the new venture will be organized and what it will

 

achieve. Of equal importance, the business plan enables them to determine how

 

effective the owner and his/her management team will be in launching and

 

maintaining the venture. If the business plan is poorly written, inconsistent, and

 

unrealistic, then the investors will not fund the venture, because they know that it

 

will likely fail. If you cannot write a compelling business plan, then it is unlikely

 

that you will be able to establish a viable business. On the other hand, a wellcrafted, compelling, and realistic business clan suggests that the owner and

 

his/her management team know what they are doing.

 

This assignment has you put together a short business plan. In constructing

 

it, follow the outline provided later in this guide. As you organize and write it, keep

 

reminding yourself that the point of the document is to force you to think through

 

the most significant issues needed to launch and maintain the business

 

successfully, and to convince investors to provide you with funds because you

 

have a good money-making idea and know what you are doing.

 

Selecting a business venture

 

Write a business plan for one of the two following ventures: Option A. Expanding a one-store operation to a two-store operation

 

Assume you currently run a small retailing business in the lobby of a

 

large office building. Your store occupies 1000 square feet of space. You

 

spend fifty hours a week at the store and hire two employees, each of

 

whom spends thirty hours a week at the store. Your annual revenues are

 

between $150,000 - $300,000 a year. The products you sell are a mixed

 

bag of items. Basically, you stock up with items that occupants of the office

 

building will want, including snacks, pre-wrapped sandwiches,

 

bottled/canned beverages, greeting cards, newspapers, paperback books,

 

and small gift items that the building?s tenants might find attractive.

 

A new office building will open two blocks away from the building you

 

now occupy. You would like to expand your business to that building. In

 

fact, you begin to dream that you can establish a chain of such stores in

 

large buildings downtown. You have even cooked up a name for the

 

potential chain, ?Buster?s? (named after your pet Labrador retriever).

 

At this point, you are not sure how you want to fund the expansion. You

 

need to put together a business plan to develop a sense of the financial

 

requirements of the new operation. You may decide to fund it using your

 

savings and by taking out a second mortgage on your house. Three other

 

options are to borrow money from the bank, borrow money from friends

 

and family, or to have friends/family assume an equity role in your

 

business as investors. In any event, your business case would be used to

 

borrow the money or to attract investors.

 

Write a business plan that describes this proposed venture. 2016 University of Management and Technology 2 MGT 190. Entrepreneurship Option B. Establishing Nerd Patrol ,a computer services company

 

John Robbins, Mary Singh, and Nabil Quresh are best friends in

 

college. John and Mary are computer science majors, while Nabil receives

 

his degree in business administration. After graduating, each goes his/her

 

separate way. John and Mary work as systems engineers in large

 

technology companies, while Nabil joins the sales staff of a software

 

engineering services company. Both John and Mary become fully certified

 

on Microsoft and Oracle software products.

 

Five years after graduating, the three friends get together and toy

 

with the idea of setting up a company to provide individuals and small

 

businesses with a full range of computer and networking services

 

including hardware and software upgrades, hardware repairs, debugging

 

software problems, dealing with network problems, . They would model

 

their business after the established franchise, Geek Squad. They would

 

call their service Nerd Patrol.

 

In putting together their business plan, they have a wide range of

 

options they can pursue. For example, they can start cautiously, with John

 

being the only full-time employee at the outset, then having Mary and

 

Nabil join the venture later (low start-up costs). Or else they can try launch

 

Nerd Patrol as a full-fledged operation (high start-up costs). Identify a

 

strategy that they can pursue, then develop a business plan that describes

 

their proposed venture.

 

Outline of the Business Plan Document In the world of real business, business plans can take on a variety of shapes

 

and sizes. They may range in length from a few pages to hundreds of pages,

 

depending on the nature of the venture. They can be filled with detailed financial

 

and marketing data, or simply a brief sketch of financial and marketing

 

requirements ? depending on how much data are available. They can be highly

 

structured or casual. There is no one best way to structure a business plan.

 

In this assignment, you should keep the business plan short: 10-15 pages of

 

text, typed single-spaced, using 12-point font. Charts and tables are extra. You

 

should also employ the following outline, which captures the chief elements of

 

typical business plans:

 

1) Introduction and brief description of the venture

 

a) Introduction (e.g., ?This business plan describes a proposed venture to

 

expand Buster?s from a one-store to two-store operation.?)

 

b) Description of the business (?Buster?s is a small store located in the lobby

 

of a large office building ??) 2016 University of Management and Technology 3 MGT 190. Entrepreneurship c) Business aspirations (e.g., ?Ultimately, we hope to expand Buster?s so that

 

it becomes a chain of 10-15 stores situated in downtown office buildings.?)

 

2) Organization of the business and key players (e.g., ?Marsha Jones is

 

owner and principal manager of Buster?s. The current store employs two

 

people, each of whom works at the store 30 hours a week ? The proposed

 

store will be managed by Ms. Jones ??)

 

a) Owner(s) ? role(s) and qualifications

 

b) Company legal structure (e.g., sole proprietorship, partnership, LLP, SCorporation, C-corporation)

 

c) Management team ? roles and qualifications

 

d) Employees ? roles and qualifications

 

e) Contractors/vendors (as appropriate) ? roles and qualifications

 

3) Financials

 

a) Anticipated operating costs of the new business (e.g., What are the

 

anticipated expenses of operating the business in a typical month?)

 

b) Anticipated investment requirements to launch the new venture (e.g.,

 

furnishing facilities, inventory purchases, meeting payroll during the first

 

six months of operation)

 

c) Anticipated revenue

 

d) 2016 University of Management and Technology 4 MGT 190. Entrepreneurship e) Pro-forma cash flow projection for the first year of operation REVENUES Month 1 Month 2 Month 3 Month 4 Etc. Rev source A

 

Rev source B

 

Etc.

 

TOTAL REV COSTS

 

Rent

 

Payroll

 

Materials

 

Etc.

 

TOTAL COST

 

NETCASH

 

FLOW f) Payback point (taken from the pro forma cash flow statement)

 

g) Anticipated return on investment from the perspective of three years into

 

the venture

 

4) Marketing/Sales

 

a) Summary of a marketing/sales strategy

 

b) Marketing/sales requirements for the business

 

i) Price of goods/services

 

ii) Product

 

iii) Promotion

 

iv) Place

 

c) Competition

 

2016 University of Management and Technology 5 MGT 190. Entrepreneurship 5) Operations

 

a) Location of the business

 

b) How the business will be operated (e.g., hours of operation, procedures to

 

produce goods/services, special operations issues)

 

6) Legal and sundry issues

 

a) Legal and related issues that need to be addressed (e.g., Liability,

 

intellectual property, structuring the business, commercial law issues, etc.)

 

b) How legal issues will be handled (e.g., in-house attorney, use of outside

 

legal services)

 

7) Major challenges

 

a) A realistic assessment of the challenges facing the new venture 2016 University of Management and Technology 6 MGT 190. Entrepreneurship How You Will Be Graded

 

1. Did you follow the instructions for the assignment?

 

No 1 2 3 4 5 Yes

 

2. Have you engaged in solid research of the topic? Do you have your facts

 

straight?

 

No 1 2 3 4 5 Yes

 

3. Are your arguments logical and compelling?

 

No 1 2 3 4 5 Yes

 

4. Is your presentation well-written (proper grammar, good flow, without

 

spelling errors)?

 

No 1 2 3 4 5 Yes

 

5. Are organizational issues for the new venture handled effectively?

 

No 1 2 3 4 5 Yes

 

6. Are financial issues for the new venture handled effectively?

 

No 1 2 3 4 5 Yes

 

7. Does the business plan reflect an effective handling of marketing and

 

sales issues?

 

No 1 2 3 4 5 Yes

 

8. Is your business plan practical and realistic?

 

No 1 2 3 4 5 Yes

 

9. Would a potential investor have confidence that your proposed venture will

 

succeed?

 

No 1 2 3 4 5 Yes 2016 University of Management and Technology 7

 


Solution details:
STATUS
Answered
QUALITY
Approved
ANSWER RATING

This question was answered on: Sep 18, 2020

PRICE: $15

Solution~0001013810.zip (25.37 KB)

Buy this answer for only: $15

This attachment is locked

We have a ready expert answer for this paper which you can use for in-depth understanding, research editing or paraphrasing. You can buy it or order for a fresh, original and plagiarism-free copy from our tutoring website www.aceyourhomework.com (Deadline assured. Flexible pricing. TurnItIn Report provided)

Pay using PayPal (No PayPal account Required) or your credit card . All your purchases are securely protected by .
SiteLock

About this Question

STATUS

Answered

QUALITY

Approved

DATE ANSWERED

Sep 18, 2020

EXPERT

Tutor

ANSWER RATING

GET INSTANT HELP/h4>

We have top-notch tutors who can do your essay/homework for you at a reasonable cost and then you can simply use that essay as a template to build your own arguments.

You can also use these solutions:

  • As a reference for in-depth understanding of the subject.
  • As a source of ideas / reasoning for your own research (if properly referenced)
  • For editing and paraphrasing (check your institution's definition of plagiarism and recommended paraphrase).
This we believe is a better way of understanding a problem and makes use of the efficiency of time of the student.

NEW ASSIGNMENT HELP?

Order New Solution. Quick Turnaround

Click on the button below in order to Order for a New, Original and High-Quality Essay Solutions. New orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.

WE GUARANTEE, THAT YOUR PAPER WILL BE WRITTEN FROM SCRATCH AND WITHIN YOUR SET DEADLINE.

Order Now