Outline: BCS 421Entrepreneurial ManagementPrerequisitesNoneTopic OutlineThe narrative below is for guidance and direction only in developing an effective business plan.. It is not a comprehensive listing of the expectations in each area.1. Marketing a) Choosing a Business Develop a rationale that supports why you chose this particular line of business. The rationale should also support that there is a need/demand for this type of business. Include an assessment of the strengths of your individual team members to show how they would be an asset to the selected business. b) Physical Location Investigate two or three sites. Include lease costs, business, realty, and utility costs. Take photographs of and around the location to assist in determining the suitability of the proposal. Outline the physical demographics of the location(s) chosen and check with the local by-law officer to ensure the venture complies with the zoning requirement. c) Marketing Plan Develop a comprehensive marketing plan that details your marketing objectives and the strategies to achieve them. While not limiting your marketing plan, it must include the following areas: Markets, Customers, Product, Place (location or distribution or both), Pricing and Promotion. Special attention should be given to how you intend to break into this market and what type or marketing strategy you will employ. d) Market Research Prepare and carry-out a physical survey of your potential clients to demonstrate that the venture chosen has the general support of the intended target market. The size of the survey is dependent on the type of business chosen and will be discussed separately with each group/team. Results will be summarized and submitted along with the completed questionnaires. Finally, prepare a sales forecast for each of the first 12 months of operation with background research showing how these figures were determined. 2. Management and Administration Identify the administration functions critical to your business and develop management strategies for each. Possible administration functions could include: Marketing Manager, Financial Manager, General Manager, Sales and Marketing Director, to name a few. 3. Financing a) Start-up capital Your financing plan should explain how you would secure equity and loan capital required to start this venture. Use a step-by-step approach which includes a Statement of Assets required (which identifies costs and gives the method of acquiring each), Equity/Loan Capital Plan, and Opening Day Balance sheet. b) Cashflow Analysis Prepare a cash budget for each of the first 12 months of operation. Include: Cash Inflows, Cash Outflows, and Financing Requirements with footnotes to explain the numbers, where necessary. c) Profit/Loss and Balance Sheet Develop Proforma Income statements for each of the first four quarters along with a balance for the end of the first year with all the necessary footnotes. 4. Final Business Plan and Presentation Compile all the completed modules prepared above into a binder with the following additions: Table of contents including page numbers, covering letter to potential investors, executive summary and venture description. Illustrations, graphs, charts third party information may be utilized to enhance the report, but should not be the focus of this document. The final submission must be produced by microcomputer processing. Modes of Evaluation
Modes of InstructionThis subject is partially self-directed. There will be formal classes and one informal discussion each week as required. During the formal class period there will be a topical lecture, and class discussions. The informal periods will include one-on-one team discussions of on-going activities, review of progress and supervised team meetings. Guest speakers are anticipated.There is no final examination in this subject; therefore, your term work will determine your final grade. Prescribed TextBuilding a Dream, A Comprehensive Guide to Starting a Business of Your Own, 4th Edition, Walter S. Good, published by McGraw Hill Ryerson; ISBN # 0-07-552848-7Additional ReadingCanadian BusinessThe Financial Post Venture Success Journal of Small Business and Entrepreneurship Other business magazines and news media Grading Policy
GPA
General PolicyIf you have any questions or concerns, please contact and discuss in the following order:a) your professor
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Last Updated: Winter 2001 |