Build Your Own Business Group Project
Build Your Own Business (BYOB) Group Project Guidelines
Value: 25% value of final grade
Purpose of Project:
The purpose of BYOB project is to cultivate seeds of entrepreneurship among students of 1st semester. Students will be applying knowledge of all important business areas including economics, marketing, management, accounting, finance, and human resource management.
Completion of this project will enable your group:
- To design or redesign a new or existing business using the concepts discussed in class and from the text such as forms of ownership, operations, management, finance, marketing ethics and corporate social responsibility, provide comprehensive information of a new business of your choice.
- You need to think of a small business not big multinational company. However you may have a vision to expand globally.
- You have a maximum budget of CAD 30,000/- to start with.
BYOB Project should include the followings:
1. Title Page should include name of your company, your group members’ names with IDs
2. Table of content
3. Executive Summary – Although executive summary is placed at the beginning of report, however it is written after the complete write up of case analysis report. Basically in executive summary you will summarize the whole project. Keep executive summary on one page only.
4. Vision & Mission Statements – Please refer to page 304 of text.
5. Brief Introduction: –
- Include a description of the product/service or idea.
- Introduce the idea and sell it – describe how your business is different
- Include the creativity of the business idea.
6. SWOT and Industry Analysis – Please refer to page 293-94 of text.
- Strengths, Weaknesses, Opportunities and Threats – SWOT Analysis & indicate a plan to deal with the shortcomings
- An overview of the industry
- Analysis of major competitors dynamics and strategies
- Product or service source of competitive advantage
7. Ownership – sole proprietorship, partnership or corporation and describe why you choose one of them. Please refer to chapter 6.
8. Organizational Structure – who is doing what, responsibilities of each member. Please create an organizational chart. For more details, you can refer to chapter 9.
9. Operation Plan – Describe how and where you are going to produce your products. From where you’ll get your raw material. Please refer to chapter 10
10. Financial Management – Please refer to chapter 17 & 18.
- Startup financial options
- includes budget details of expected revenue, expenses, and profits for coming 3 years at least
11. Marketing Strategy – Please refer to chapter 14.
- Major market segment identification
- Elements of the marketing mix
- Product
- Price
- Promotion
- Distribution
12. Risk Management – Please see Online Supplement 2.
- Discuss how you are going to manage your risk while doing this business and what are the implications
14. Bibliography or Reference List using APA
15. Appendices
Format of the Assignment:
- The assignment will be written in essay format, 12 font, and Times New Roman. The assignment will be a maximum of 20 typed, double-spaced pages, not including appendices. The assignment must be submitted stapled or bind. Correct spelling and grammar are required.
- Write simple sentences. Do not use abbreviations, slang, contractions, or personal pronouns.
- The BYOB plan should be structured and written as if you were going to submit it to the
- Financial manager of a bank to get financing for your business.
- Each group must select a different product or service.
Important: You must submit a soft copy of project through SafeAssign.