BMGT330 FULL COURSE [ ALL
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Week 2 Learning Activities
Actions for Week 2 Learning
Activities
Available after Monday,
January 19, 2015 12:00 AM EST. Unlocked: Monday, January 19, 2015 12:00 AM EST
- Sunday, January 25, 2015 11:59 PM EST.Must post first.
Learning Activity #1
Legal form (i.e sole proprietorship, partnership etc) is an
important aspect to organizational structure. Present a legal form for a
venture type and explain your choice. Give example(s) to support your choice
and why it is appropriate choice.
Comment on 2 of your classmates' postings
Learning Activity #2
A brief over view of the most common forms of small business
ownership. This is one of a series of talks by Bob Litchfield on Success for
Entrepreneurs.
Forms of Business Ownership
http://www.youtube.com/watch?v=Wtmw1oxNiWg
Explain how personal conflict can affect partnership and how
conflict can be managed effectively?
Week 3 Learning Activities
Actions for Week 3 Learning
Activities
Available after Monday,
January 26, 2015 12:00 AM EST. Unlocked: Monday, January 26, 2015 12:00 AM EST
- Sunday, February 1, 2015 11:59 PM EST.Must post first.
Learning Activity #1
All businesses have to face the uncertainty of market forces. Find
a current news story about how a market force is affecting a business and
discuss the potential impact, how the business can/is responding and your
thoughts on the situation, especially how organizations can effectively manage
the risks of market forces and uncertainty.
Learning Activity #2
Please watch the video below and provide your comments
Using Porter's 5 Forces to Analyze Your Small Business
https://www.youtube.com/watch?v=iIPudCSPEXY
Week 4 Learning Activities
Actions for Week 4 Learning
Activities Available after Monday, February 2, 2015 12:00 AM EST. Unlocked:
Monday, February 2, 2015 12:00 AM EST - Sunday, February 8, 2015 11:59 PM
EST.Must post first.
Learning Activity #1
Discuss why every entrepreneur should create a business plan ?
For your chosen/hypothetical venture, name and explain two
essential elements (i.e Marketing Strategy, Management Team, Products and
Services description etc) that will be presented in your business plan?
Post your response and comment on two of your classmates.
Learning Activity #2
Watch the videos below and provide your comments
1. SBA Business Plan Webinar – Parts 1 through 8
http://www.youtube.com/watch?v=tEL_l7klIY8
2. The Simple Truths of Service – Differentiation
http://www.stservicemovie.com/
Week 5 Learning Activities
Actions for Week 5 Learning
Activities
Must post first.
Learning Activity #1
Startup Financing:
Small business financing is a critical issue in the market today;
do some research and help us understand why it is so difficult for entrepreneurs
to access the funding they need to start a business.
Share at least one source (current/recent article) that addresses
this issue.
Learning Activity #2
VIDEO: 10 Ways to Finance and Start a Business - Brian Tracy
One of the key questions that first-time business owners ask is
how to finance a business. Watch this video to learn the 10 best and most
common ways to help finance your business, whether it is for a small business
or a big company.
Web link to video: http://www.youtube.com/watch?v=dmyrCLJGTtE
Question Actions for Week 6 Learning ActivitiesMust post first.
Learning Activity #1
Franchising continues to be a popular choice for individuals to
become small business owners. After reviewing the information in this week's
reading and doing some online research, provide a list of at least three pros
and three cons to going the franchise route versus starting the same business
on your own. Be sure to list any sources you use. Do not state the same
pros/cons that other classmates list.
Learning Activity #2
Advantages and Disavantages of Buying a Business by Bill Bartmann
http://www.youtube.com/watch?v=j5Pz3Aweof4&NR=1
Informational only, no need to post a comment.
Actions for Week 7 Learning
Activities
Locked before Monday, February
23, 2015 12:00 AM EST. Must post first.
Learning Activity #1
The world economy is continuing to transform itself into a mosaic
of humanity. New business ventures must consider diversity in all aspects of
formation, development and growth. The research on the impact of being
deliberate in creating and sustaining a diverse company is pointing to
increased impact and performances. Search for a story or research on the
diversity and how it relates to entrepreneurship and new venture development. Comment
on at least two other classmates’ postings
Learning Activity #2
Discuss what factors an entrepreneur should consider when
evaluating a region in which to locate a business? Where are such data
available? Post a response and comment on at least one of your classmates post
Actions for Week 8 Learning
Activities Available after Monday,
February 2, 2015 12:00 AM EST. Unlocked:
Monday, February 2, 2015 12:00 AM EST - Monday, March 9, 2015 11:59 PM EDT.Must
post first.
Week 8 Learning Activities
Actions for Week 8 Learning
Activities
Includes assessment. Must
post first.
Learning Activity #1
Share your thoughts on this course and what you learned,
specifically how it might help you in developing your start-up business/growing
your existing business. Failure to post this week will result in a zero for
participation.
Learning Activity #2
Motivational Video: Never Give Up!
https://www.youtube.com/watch?v=41Zjh3AirjU
Business Plan
Instructions
Business Plan
The final project requires you to develop a comprehensive business
plan. This plan should be a working document on how to establish or acquire and
operate a business venture.
Required Elements to include in the Business Plan:
• Cover all basic
matters, including a description of the business and products/services to be
offered, identification of target markets, and analysis of competition. The
project will consist of a completed business plan for your real or imaginary
business venture. Although there are different types of enterprises, there are
commonalities among all. These should be reflected in the following sections:
• there are
commonalities among all. These should be reflected in the following sections:
Ø introductory letter
Ø executive summary
Ø statement of objectives
Ø background
Business Plan
The final project requires you to develop a comprehensive business
plan. This plan should be a working document on how to establish or acquire and
operate a business venture.
Required Elements to include in the Business Plan:
• Cover all basic
matters, including a description of the business and products/services to be
offered, identification of target markets, and analysis of competition. The
project will consist of a completed business plan for your real or imaginary
business venture. Although there are different types of enterprises, there are
commonalities among all. These should be reflected in the following sections:
Ø introductory letter
Ø executive summary
Ø statement of objectives
Ø background
Ø technical description of product/service
Ø marketing strategy
Ø market data
Ø selling tactics
Ø operations plan
Ø financial data
Ø management plan
Ø human resources plan
Ø conclusions
• Grading will be
based on content, comprehensiveness, organization, packaging, grammar,
mechanics, and timely submission.
• You may consult
with fellow students, use outside sources, or discuss portions of the project
in detail with instructor
• The final paper,
however, must be your original work.
Required Formatting of Paper:
• Must be
typewritten and neatly packaged in a form presentable to a financial
institution or investor.
• As some businesses
are more complex, no specified number of pages is required. The key is to
ensure that all critical portions of the plan are covered in sufficient detail
to portray in-depth thought and effort. Some areas may not apply to all
businesses.
• Financial
statements are important, and you are expected to provide pro forma balance
sheets, income statements, break-even analyses, and cash flow projections.
• You should decide
early in the course what type of business the plan will involve, as
high-quality plans cannot be developed in a short time.
• You should get an
early start to perform the research and to prepare a paper that covers all
aspects of a business plan.
• Your business
plans must be submitted on the date indicated in the course schedule to be
eligible for full credit. Plans received after the due date will only be
eligible for full credit if the reason for lateness is based on an emergency or
otherwise approved by instructor before the due date.
Attachments
Develop the business and marketing strategy for your business plan
using the guidance provided below.
Business Strategy:
A. Desired image and position in market
B. SWOT Analysis
C. Competitive Strategy
Marketing Strategy:
a. Target Market
b. Customers' motivation to buy
c. Market size and trends
d. Advertising and promotion
e. Pricing
f. Distribution strategy (if applicable
Submit your Business Plan progressto your gradebook for review.
Read the attached "True Body Products" Case "Should
a Small Company Extend Its Product Line to Satisfy a Key Consumer?"
Answer the 4 questions in the case.
Attach your answer in MS word format to Case Study 2 folder in
your gradebook.
1 Should Shade introduce scented soaps to True Body's product
line? Explain?
Q.2 what steps should Shade take to increase the in-store shelf
space of True Body's products?
Q.3 Given Shade's vision for her company (soaps that are
all-natural, unscented, and affordable), do you think that her concerns over
the proposed higher prices that Whole Foods would charge for her unscented
soaps are justified? Explain.
Case 3 True Body Products
Should a Small Company Extend Its Product Line to Satisfy a Key
Customer? In 2007, after spending 15 years in product development and brand
management with large companies such as Procter and Gamble, Welch's, and
Seventh Generation, Janice Shade decided to start True Body Products, a company
in Richmond, Vermont , that markets all-natural, unscented, affordable soaps.
True Body's line of soaps is manufactured to strict quality standards by a New
England contract manufacturer and sold in 45 Whole Foods stores in the
Northeast, Fred Meyer stores in the Northwest, and several independent natural
food stores across the United States and online at alice.com, an online
household products marketplace . In its first full year of operation, True Body
generated sales of $45,000. Shade was operating the company using the $100,000
that she and private investors had invested in the company at start-up. The
buyer from Whole Foods with whom Shade works recently approached her with an
idea for increasing sales of True Body products. "Why not introduce a line
of scented soaps?" the buyer asked Shade. Scented soaps would be a natural
extension of the small company's product line, would increase its shelf
presence in stores, and would lead to more sales. Shade wanted to avoid alienating
or confusing existing customers, many of whom suffered from allergies and
purchased True Body products because the soaps were unscented. "The most
ardent and positive consumer feedback I get is from people who are happy to
have found an unscented bar soap," she says. However, Shade thought that
the idea of adding a scented line was worth considering. "I want my
business to grow to a scale where it makes an impression on the world,"
she says. Shade began to research scented soaps and consider the options for
her company with her advisory board . She asked the company that manufactures
her soaps to create samples of soaps scented with fragrances such as lavender
and grapefruit. "Then we started costing them out," says Shade.
"That's when the red flags came up." Because True Body 's soaps are
made with all-natural ingredients, the manufacturer would have to use costly
pure essential oils rather than cheaper synthetic fragrances to create the line
of scented soaps. The result would be higher prices for the scented soaps.
Shade estimated that True Body soaps would have to retail for $6.19 for a
package of three bars, compared to ju st $5.49 for a package of three unscented
bars. The higher pricing concerned Shade because she built her company on the
premise of marketing soaps that are all-natural and affordable. In
conversations with the buyer, she learned that if she introduced scented soaps,
the retailer planned to set the price of both the unscented and the scented
soaps at $6.19 for a package of three bars. Concerned that customers would balk
at the price increase, Shade considered selling the scented soap in twobar
packages, a pricing tactic that would allow her to offer a lower price point.
She agreed with the Whole Foods buyer that True Body needed more in-store shelf
exposure and began to consider other way s to expand her company's product line
that would be more consistent with her commitment to all-natural, unscented
soaps, including liquid hand soap, shampoos, face soap, and others. "I
have every intention of growing," says Shade, "but I want to be
intentional about it." Questions 1. Should Shade introduce scented soaps
to True Body's product line?Explain. 2. What steps should Shade take to
increase the in-store shelf space of True Body's products? 3. Given Shade's
vision for her company (soaps that are all-natural, unscented, and affordable),
do you think that her concerns over the proposed higher prices that Whole Foods
would charge for her unscented soaps are justified? Explain. 4. Write a one-page
memo to Janice Shade outlining the key components of a marketing strategy that
will increase her company's in-store shelf space and its sales. Sources:
Adapted from Adriana Gardella, "Can a Small Company Say No to Whole
Foods?"New York Times, June I , 20 I 0, http://boss.blogs .nytimes.com/20I
010610 I/can-a-small-company-say-no-to-whol e-foods; Adriana Gardella,
"Yes, You Can Say No to Whole Foods,"New York Times, June 4, 20I 0,
http://boss.blogs.nyt imes.com/20 I 0/06/04/yes-youcan-say-no-to-whole-foods;
and Adriana Gardella, "A Start-Up Soap Maker Startsto Get
Traction,"New York Times,January 7, 2011,
http://boss.blogs.nytimes.com/2011/01/07/more-of-everything
WEEK 4
UMUC BMGT330 Informational Interview
UMUC BMGT330 Informational Interview
UMUC BMGT330 WEEK 4 Informational Interview
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