BBI 2O End Of Semester Culminating Activity

BBI 2O End of Semester Culminating Activity – 30% of final mark

Becoming an Entrepreneur: Invention and Innovation

A television station is sponsoring a contest that will provide $25 000 to a student who can convince the judges that he or she can start a successful venture. For this venture, you will invent/innovate a real or imagined retail or service business. Prepare your entry for the contest, given the following requirements:

1. Create a title page for your project with the title “Becoming an Entrepreneur: Invention and Innovation”. Include your name, due date, teacher and course code (BBI 2O).

2. Describe, in 100 words or less, the venture you would like to start. Include how your venture will take advantage of the opportunities created by people’s actual wants and needs, or how your venture will solve people’s problems. [KU 5%]

3. Convince the television station that you are an entrepreneur. In 100 words or less, provide proof that you have what it takes to create this venture. Refer to the characteristics described in class. [C 5%]

4. Create a business plan that describes how you will use the $10 000 to create a successful venture. The parts to be included in the business plan are shown below. [KU/TIPS/C/A 70%]

5. Deliver a 2-3 minute presentation of your idea to the class highlighting the most important features of your business plan. Copy the completed presentation to the X: drive. The presentations will take place on Tuesday, June 18, 2013 and Wednesday, June 19, 2013. [C 20%]

Sections in a business plan: (as a guideline, refer to pages 424-427 in your text). The content for each section of the plan is listed below. Corresponding pages from our text book are included for reference and help.

A. Brief Introduction and Summary (p424) [Write this last]

 Company name and main ideas presented in this report

B. Background Information (p424)

 Invention or innovation? (p386, 394, 409)  Location of the business. Include a street map showing the location of your business. What are the benefits and drawbacks to your location?  Your company name, logo (state whether it is a monogram, visual or abstract) and slogan  Explain the reason(s) behind your logo design

C. Products and Services (p424)

i. Does your business offer a product or service? Explain. (p6) ii. Competitive considerations (p122, 127). Comment on the convenience, degree of service, selection, reputation and prices that will make your business competitive with other businesses in a similar market iii. List your direct competition. Who do you think would be your biggest competitor? Why? iv. Impact on community (p71). Comment on how your business will generate wealth, jobs and income for the community that your business will be located. D. Structure of the business (p425)

 Business ownership (p52). Would you prefer your business to be a sole proprietorship or a partnership? Explain your choice.  Plan/office layout (floor plan diagram). If you have a store, be sure to include areas for storage, change rooms if necessary, office, washrooms, parking, signage, street lighting, etc.  Responsibility and anticipated satisfaction (p 88). Comment on:

i. Social responsibility in the community – for example, will you recycle waste or sponsor events? ii. Employee satisfaction – what things will you do to keep your employees satisfied (e.g. wellness programs, healthy cafeteria, work retreats, on-site gym, etc.). If you are the only employee, comment on personal satisfaction.

E. Market Analysis (p425)

 Marketing Strategy (p209) – How will people find out about your business? Will you use a push strategy, pull strategy or both?  Presentation of merchandise - How will the products be displayed in the store?  Market Research (p211, 370, 418) – Identify the groups of consumers who would use your company. Comment on age, income levels, gender, education level, etc.  Channels of distribution (p216) – How will the products you are selling get from the manufacturer to the consumer? How will your service be provided to the customer?  Advertising and promotional strategies (p220) – Provide o One of: video ad for TV, audio ad for radio or print ad for local newspaper o Two promotional materials/events that would be used either on opening the business or during regular operations by the business (coupons, contests, launch party, giveaways, samples, loyalty cards, etc.)

F. Resource Analysis (p426)

 Economic resources (raw, capital, human) needed (p7)

G. Financial Strategy (p427)

 How will you spend the $25 000 should you win? Break it down into detail. Use researched and realistic amounts (don’t forget taxes and delivery charges!).  Would you need to get additional financing? How much? Would you prefer to get equity or debt financing? What are the risks with each type of financing? (p47)

H. References (p427)

 Include a bulleted list of supplier(s), bank, investor(s), accountant, and lawyer (complete with addresses, phone numbers, etc.) that you could use. Phone books or www.canada411.ca are a good source for the contact details. You may hand in this activity as a report or on a bulletin board.

DUE DATE for report: Wednesday, June 19th at the end of the school day

This culminating activity is worth 30% of your final course mark.