BUS 362 Entire Course-Entrepreneurial Motivation and Rewards

Description: Entrepreneurial Motivation and Rewards. Discuss the motivators/rewards that encourage individuals to begin entrepreneurial careers. What problems might be anticipated if an entrepreneur were to become obsessed with one of these rewards – for example, if he or she had an excessive desire for independence? Respond to at least two of your classmates. Focus Strategy. Provide an example of an entrepreneurial venture in your community that has successfully implemented a focus strategy to maintain a competitive advantage in the marketplace. Describe how you believe the venture protects its market from competition. Respond to at least two of your classmates. Business Plan. Having taken an Ashford course on entrepreneurship, you have been asked by a friend to offer practical advice on writing a business plan. What advice would you give your friend? Identify five key points you would insist be included in a business plan. Respond to two of your classmates Venture Selection. You have always wanted to be your own boss and have your own business. What kind of business venture would you choose – start a new business, buy a franchise, or buy an existing business? Discuss why you have made your choice. Identify three advantages to your choice and three pitfalls you may encounter? Respond to two of your classmates. Identification of Business Opportunity Project. Submit a one page overview of your Business Opportunity Project to include the business idea (new, franchise, operating business) and a list of references to use. Market Analysis. Why do you think entrepreneurs tend to overestimate market potential? What three steps or techniques would you recommend a new entrepreneur take so that market overestimation doesn’t occur? Respond to two of your classmates. Cost and Demand. Think of a product or service. Discuss the role of cost and demand factors that should be considered when pricing that product or service. Respond to two of your classmates WindVest. Read Case 4: WindVest Motorcycle Products: Down the Windy Road in your text on page 666. In a 2-3 page paper (excluding title and reference pages), provide an overview of the company and its product. Identify three recommendations to improve the domestic marketing strategy for WindVest’s sales. Support your recommendations with a rationale that would indicate a competitive advantage for the company as a result of implementing your recommendations. Use APA formatting. Cash Management. Identify three creative kinds of business relationships/financing arrangements that can be used to help manage cash in a small firm. Why are they viable options? Respond to two of your classmates. Financing. If a new venture had its choice between long-term debt and equity financing, which would you recommend? Why? Respond to two of your classmates. E-Commerce. Identify four factors a consumer might give for not using an online business. What actions might an entrepreneur take to overcome those factors? Respond to two of your classmates. Business Location. What are the key attributes of a good business location? Which of these would probably be important for a retail location in gaining a competitive advantage? Why? Respond to two of your classmates. Focus of the Business Opportunity Project Select any new business idea; compile a preliminary assessment of the business opportunity and an outline of an abbreviated business plan. The 8-10 page project paper (excluding title and reference pages) must follow APA requirements and use five professional resources in addition to the textbook. The following details are to be included in your plan: 1. OVERVIEW a. Business idea b. Business type (new business, franchise, operating business) c. Core competency proposed for achieving competitive advantage 2. MANAGEMENT SECTION a. The legal structure of your business b. Owners and key members of management team c. The staffing structure with key positions identified 3. MARKETING SECTION a. An analysis of the environment, identifying major opportunities (and threats) that support the start up. b. Description and analysis of target market segments and positioning strategy c. Design of communication and promotional strategies 4. FINANCIAL SECTION a. Financial requirements for start up or purchases b. Sources of financing c. Budget projections for one year Writing the Business Opportunity Project The Project: 1. Must be eight to ten double-spaced pages in length, and formatted according to APA style as outlined in the Ashford Writing Center. 2. Must include a title page with the following: a. Title of paper b. Student’s name c. Course name and number d. Instructor’s name e. Date submitted 3. Must begin with an introductory paragraph that has a succinct thesis statement. 4. Must address the topic of the paper with critical thought. 5. Must end with a conclusion that reaffirms your thesis. 6. Must use at least five scholarly sources, including a minimum of two from the Ashford Online Library. 7. Must document all sources in APA style, as outlined in the Ashford Writing Center. 8. Must include a separate reference page, formatted according to APA style as outlined in the Ashford Writing Center.

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