BUSI 1110 Fundamentals of Business in Canada

Subject code: BUSI 1110

Subject title: Fundamentals of Business in Canada

Individual Assignment (Instructions)

The purpose of this assignment is to integrate what you have learned in this class for application into the real world, while maintaining a manageable work load for the course as a whole. By completing this assignment, you will become familiar with analyzing business processes while developing business planning skills. This project is worth 20% of your overall course grade.

A. OVERVIEW

Your assignment will be to imagine that you are the founder of a new business that does not currently exist. Write a business proposal to “pitch” to a prospective investor. The proposal will cover the topics mentioned in Section B. The plan should be written using Times New Roman (font size 12) and double- spaced, with incorporation of images or diagrams where appropriate. You are free to choose whichever industry the business will operate in. Please limit to a maximum of 4,000 words or 16-pages double-spaced (Not including appendix section).

B. TOPICS TO COVER

• Business Name

What is the name of your business?
Hint: When you think of the name of your business, make sure that it captures the spirit of the business you’re creating.

• Form of Business Ownership

What form of business ownership (sole proprietorship, partnership, or corporation) will your business take? Why did you choose this form? What are some features to consider?
Hint: For more information on the types of business ownership, refer to the discussion of the different forms of business ownership in Chapter 4.

• Mission Statement

Provide a brief mission statement for your business
Hint: Refer to the discussion of mission statements in Chapter 6. Be sure to include the name of your business, how you will stand out from your competition, and why a customer will buy from you.

• Product Features and Benefits

Describe the features and benefits of your product or service (can be incorporated into Marketing Mix section).
Hint: What features does your product have? What does it look like and what does it do? How will your product benefit the buyer?

• Product Differentiation

How will you make your product stand out in the crowd? (can be incorporated into Marketing Mix section).
Hint: There are many ways to stand out in the crowd, such as a unique product, outstanding service, or a great location. What makes your “great idea” special? Does it fill an unmet need in the marketplace? How will you differentiate your product to make sure that it succeeds?

• Organization Chart

Show how the “team” fits together by creating a simple organizational chart for your business. Make sure that you organizational chart indicates who will work for each manager as well as each person’s job title.
Hint: Most businesses start off quite small. However, as you create your organizational chart, consider what your business will look like in the future. What different tasks are involved in the business? Who will each person report to in the organizational structure? Refer to the discussion of organizational structure in Chapter 7 for information to get you started.

• Corporate Culture & Incentives

What do you see as the “corporate culture” of your business? Also as learned in Chapter 8, incentive programs are special programs designed to motivate high performance. What incentives will you use to motivate your workforce?

Hint: Will your business demand a casual environment or a more professional environment? Refer to the discussion on corporate culture in Chapter 6, and the discussion on organizational citizenship and other employee behaviours in Chapter 9. Regarding to incentives, be creative and look beyond a simple answer such as giving pay increases. Ask yourself, who are my employees and what is important to them? Refer to Chapter 8 for more information on the types of incentives you may want to consider.

• Marketing Mix

How will you utilize the “4Ps” in your business?

Hint: Consider the importance of your market segmentation before deciding on the product, pricing, promotion and place strategies to be used. Refer to Chapter 12 for more information.

• SWOT Analysis

Perform a basic SWOT analysis for your business, listing its main strengths, weaknesses, opportunities, and threats. Use the results to provide an overview of the future prospects for your business and industry.

 

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