Reference no: EM133042436

GEN302 Fundamentals of Innovation and Entrepreneurship - Emirates College of Technology

Future business - Selling used products

Idea is start selling used product with a law capital investment, by buying old products and repair them then sell it on new price

Note: be sure it is small business will start from home and will grow step by step

In this project:

You need to answer what matters most to you as you contemplate your future career and personal lives?
The entrepreneurial process is at its core concerned with "the pursuit of opportunity without regard to the resources already under control," as Professor Howard Stevenson of Harvard Business School originally said.
This process is as applicable to your career as it is to starting a company. The goal of this project is to
identify where you want to be and how you will get there.
Do not worry about your current resources.
Think entrepreneurially.

Your personal business plan should include a long-term vision statement, the "external" opportunities that exist, your "internal" (personal) strengths, and a strategy for yourself and your life over the next three to five years. In addition, please share at least one "failure" from your pastand what you learned from it in terms of maximizing your potential for the future. The project should summarize as many of the areas below as possible, as well as the one "failure" wherever you feel it best fits.

Consider the following topic areas and questions as you work on your Personal Business Plan (future business after finished the university means still not exist)

Business Plan Template:

A. Cover page (write suitable title for the personal business plan you will write about it)
B. Table of Contents
C. Executive summary
D. Industry Analysis
E. Company Description
Vision and Opportunity
1. What are your goals (career) after you leave your university?
2. What is your purpose, your values,your vision,and your mission?
3. List the 3 key questions that guide your choices.
4. These should be essential questions that serve as touchstones to direct your life and work. For instance:
5. how can I have impact?
6. What do I love?
7. What do I fear?
8. What engages my passions?
9. How do I want to be remembered?
10. The answers to these questions may well change over time, but when the questions themselves are fundamental they tend to last a lifetime.
11. What is the market and opportunity that align with your goals?
12. Don't restrict yourself to matters of career; think more broadly about your opportunities to make a difference.

F. Operations plan
1. Production Process
2. Demand forecasting
3. Capacity plan
4. Quality management

G. Supply chain management plan
H. Market Analysis
1. Supply chain process
2. Structure mapping
3. Supply chain risk management

I. Product (or Service) Design and Development Plan
J. Marketing plan and Implementation Strategy
1. What compelling value will you offer to your employers and society?
2. How will you differentiate from other UAE students?
3. How about from the broader populace?
 
K. The Economics of the Business
L. Risks and Mitigation
1. What are the key milestones and checkpoints in your plan?
2. How will you measure/determine if you have successfully attained these milestones?
3. Share at least one "failure" from your past and what you learned from it in terms of maximizing your potential for the future
4. How do you define success?
5. What external factors might affect (positively or adversely) your attaining success?
6. Develop contingency and risk mitigation strategies.

M. Entrepreneurial Ethics, Personal "Board of Directors" and 6-Word Summary
Entrepreneurship is not all about personal financial gain. It concerns crafting a lifelong plan to make a positive impact on society. Character does matter. Failure is OK; unethical behavior is not. True wealth requires the creation of enduring value, which requires integrity and ethics. Entrepreneurship and business are not just contact sports subject to their own arcane rules, but an integral part of life that reflect the values of each participant.
1. How do you plan to practice ethical principles in your daily actions?
2. If you could assemble any three people to advise and mentor you, who would they be? They may be alive or dead, family or world leaders, friends or strangers.
3. Why would you choose each?
4. Is it their wisdom, their accomplishments, their words, their creativity, their character, their heroic deeds...........?
5. Similar to popular "six-word memoir" exercises
6. please summarize your Personal Business Plan in 6 words (e.g., "humanist engineer, global citizen, caring teacher").

N. Overall Schedule
O. Financial Projections (capital, rent, logo, cost of materials, cost of equipment's used, salaries... ect (write everything's required to be used in this small business in), expected expenses, expected revenue, expected net income, profit in first year...etc

Presentation:

- Prepare a presentation 14 slides in power point excludingthe title page & references.

For PowerPoint slides do them as bullets & short sentences not paragraph + Add notes 3 points for each side(as bullets & points brief explanation) + add photos or background relating the topic

- Title page
Slide 1:Introduction
Slide 2: Idea of my future business plan
Slide 3: Reason for choosing this idea
Slide 4:Company Description (vision, mission, value)
Slide 5:Operations plan
Slide 6:Marketing plan and Implementation Strategy
Slide 7:Product (or Service) Design and Development Plan
Slide 8:The Economics of the Business
Slide 9:Risks and Mitigation
Slide 10:Entrepreneurial Ethics, Personal "Board of Directors"
Slide 11:6-Word Summary
Slide 12:Overall Schedule
Slide 13:Financial Projections
Slide 14: conclusion + Value Addition to the project
- References

Attachment:- Project Fund.rar