Economics~ Create a Business Project Part I. 8/30/13

Create a Business Project

Task

You and others in the class will be creating a realistic, appropriate business proposal that will represent the various business organizations that exist in society today. 

Procedures and Requirements

Choose your group, which should range from one to two based on your business organization: sole proprietor (1) or partnership (2)

1. You have access to a $10,000 startup loan from the bank for sole proprietors, $15,000 for partnerships or corporations*
2. Create a Power Point to introduce your company’s business plan (should be a visual representation of the business plan).

Business Plan

1.       General Company Description

a.       List the name of your company

b.      List the slogan of your company (i.e. Publix “where shopping is a pleasure”)

c.       List the owner’s names

d.      What will be your business type: sole proprietorship, partnership, corporation
2.       Products and Services

a.       Describe the type of business you are planning (service, restaurant, multimedia production, wedding planner, etc.), what business will you be in, what will you do?

b.      Describe your products/services.

c.    Create a sample list of price points for your products or services (you may need to research existing companies).

3.       Business Philosophy

a.       Create a mission statement (a formal, short, written statement of the purpose of a company or organization).

               i.      McDonalds - "To provide the fast food customer food prepared in the same high-quality manner world-wide that is tasty, reasonably-priced & delivered consistently in a low-key décor and friendly atmosphere."

             ii.      Courtyard by Marriott - "To provide economy and quality minded travelers with a premier, moderate priced lodging facility which is consistently perceived as clean, comfortable, well-maintained, and attractive, staffed by friendly, attentive and efficient people"

b.      What image do you want to project? How do you want customers to see you?

c.       Describe the benefits of your company. That is, what will your products/services do for the customer?

d.      What factors will give you competitive advantages or disadvantages? (i.e. level of quality or unique features)

e.      Why do you believe your business concept will work?