BUSN119 Fundamentals of Business Assignment

Assignment Help Business Management

Reference no: EM132849644

BUSN119 Fundamentals of Business - Centennial College

Business Venture Assignment

PURPOSE: The purpose of this assignment is for students to learn how to work effectively in teams and to apply the skills they have learned about business and entrepreneurship to develop a business idea.

IMPORTANCE: This assignment will help you to apply your skills in order to explore the entrepreneurial mindset and elements required for a business plan. It will also enable you to reflect on CSR as it directly applies to the business idea that your
group creates. Finally, this assignment will provide you with the opportunity to perform a PESTLE analysis to assess and better understand the operating environment for your business. All of these elements are integral to the new essential employability skills that students need to develop to be successful in today's business environment.

BUSINESS VENTURE TEAMS: This is a team project; teams will work as a group to complete the work required for this project over a 6-week period (this period includes the week the assignment has been assigned). Teams have been set up for students in e.centennial, the computer has randomly placed you into a group. To see what group you are in: go to the course shell in e.centennial, select Communications, then click on Groups; you will see a link for the Business New Venture Assignment, click on the number to see the names of the people in your group. Use the email icon or the class list to email your group members.

INSTRUCTIONS

To ensure that students stay on track for this assignment it is recommended that you follow the steps below:

STEP 1: MEET YOUR TEAM AND GET ORGANIZED

• Go to the discussion board, introduce yourself to your team: 1) let your teammates know what part of the world you are in; along with, 2) a skill that will benefit the team; and, 3) one that you hope to learn over the duration of this assignment. For example, if you have leadership skills or want to develop that skill set, let your teammates know. (8 marks)
• Select a team name & a team leader: In the discussion board, think of a team name that will also be your company name. Then, select a leader who will be responsible for:
1) emailing the professor to let the professor know that they are the leader. 2) The leader will also, set up MS Teams - the professor will email instructions on how to do this simple task when the professor replies to the leader's email; the leader will notify the team once MS Teams is set up. 3) The leader will submit the final assignment to the drop box in e.centennial (3 marks)
• Develop a Workplan: Use the Planner app; create a weekly schedule for what needs to get done to complete all elements of the plan - to access, click the plus sign in MS Teams and then select Planner. (9 marks)

Step 2: Business Idea
Now that your team has been set up, you'll need to come up with a business idea. The quicker you come up with an idea, the quicker you will be able to move on to step 3. Teams that set up quickly may have their ideas by week 5. To help you with ideas for businesses look at the following website: feddevontario you will need to explain why the team chose the idea you settle on as part of this assignment, in the business opportunity section.

Step 3: Create a partial business plan
Once you have a business idea you will need to create a plan. To add a creative element to the plan and to ensure that too much content is not created, students will create a visual report using PowerPoint.

1. Executive summary (business description)

i. Include all elements from this section

2. Identifying your business opportunity
i. Include all elements from this section, except:
• Omit the date the business was registered/incorporated, address and contact information - *if you were doing this for real, you would include that information
ii. Include CSR aspect here

3. Marketing and sales strategy of the business plan (15 marks)
i. Include all elements

4. Your team
i. Include all elements, except:
• Omit the recruitment, training plans and associated costs

5. Operations
i. Include the first two sections only: Daily Operations & Facility Requirements
• Omit the last two sections

6. Financial forecasts of the business plan
i. Include Cash Flow statements for 3 months
• Omit the other sections

7. PESTLE Analysis
i. Be sure to connect how the PESTLE relates to the overall business idea in the executive summary.

Attachment:- Business Venture Assignment.rar

Reference no: EM132849644

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