08 Oct New Venture – Game Plan
NEW BUSINESS VENTURES AND ENTREPRENEURSHIP
New Venture – Game Plan
OVERVIEW
Throughout this course you will develop a plan to design and implement a new product or service. You have three options, depending whether you identify as an Intrapreneur, an Entrepreneur, or a Nonprofit leader. Your first step is to select or develop an innovative “big idea” for ONE of the options below:
Option A – Intrapreneur
Choose a product or service that could be added to your organization’s portfolio. You may use your current company or another company that interests you. The Resource in your Assignment 1 Resources titled Models of Intrapreneurship describes several models for intrapreneurial initiatives that you can consider for your venture.
Option B – Entrepreneur
Identify one business idea that you could launch as a start-up business. The Resource in your Assignment 1 Resources titled Organizational Chart Template provides a template for the structure of your new business. Use the source below to research business ideas: Research Source: https://www.entrepreneur.com/businessideas
Option C – Nonprofit
Identify a nonprofit idea that will serve a community. The Resource in your Assignment 1 Resources titled NPO Organizational Chart Template provides a model for the structure of your new community organization.
Use the source below to learn about creating a nonprofit organization: Research Source: https://www.usa.gov/start-nonprofit
INSTRUCTIONS
For Assignment 1, you will write a Game Plan paper, in which you describe your innovative “big idea”, craft your vision for its implementation, and assess the idea’s strengths and weaknesses, as well as the major opportunities and threats in the market. Your paper will be 3 to 4 pages long. NOTE: When writing a business plan, avoid the use of first person; use the name of the company instead.
For this first assignment, you will complete Sections II, III, and IV of your Business Plan. These are the sections in the template titled: Company Description, New Product or Service Idea, and SWOT Analysis.
Follow ONE of the three Options below, depending if your new venture is to be added to an existing business (Intrapreneur), launched as a start-up (Entrepreneur), or founded as a nonprofit organization (NPO). Make sure you work with the template that matches your chosen Option.
Option A – INTRAPRENEUR
COMPANY DESCRIPTION
Briefly describe your Company, including the Subsidiary or New Initiative you plan to present for that company:
o Provide a brief overview of the parent company.
o Describe your new Initiative or Subsidiary for the existing company, including an identifier (or name) for your idea and where it fits into the company structure.
o Provide an Organizational Chart that shows the positions that will need to be filled. Use the Organizational Chart template in your Assignment 1 Resources.
o What is the mission for your new initiative? How does the new initiative/subsidiary align with the existing company?
NEW PRODUCT OR SERVICE IDEA
Describe your New Product or Service idea, by answering the prompts below:
o What is new and unique about your product or service?
o What customer needs or desires does it satisfy?
o What is the value proposition – i.e., why would someone buy your product or service?
Include key resources and key activities.
SWOT ANALYSIS
Explain the Strengths, Weaknesses, Opportunities, and Threats for your idea, using the prompts below:
o Why is this the right time to implement this new business or venture?
o What is distinctive, disruptive, and/or innovative about your product or service?
o Include a SWOT Analysis. Use either the SWOT template or the SWOT Worksheet provided in your Assignment 1 Resources.
o Provide a detailed explanation of each SWOT quadrant.
Option B – ENTREPRENEUR
COMPANY DESCRIPTION
Briefly describe the Start-up Company that you propose to create:
o What is the name for your new business?
o When will your start-up business launch?
o What will its mission be?
o How many staff will you need? Provide an Organizational Chart that shows the positions that will need to be filled. Use the Organizational Chart template in your
Assignment 1 Resources.
o How fast do you plan to grow?
o Where is your company based? Where does it or where will it do business?
NEW PRODUCT OR SERVICE IDEA
Describe your New Product or Service idea, by answering the prompts below:
o What is new and unique about your product or service?
o What customer needs or desires does it satisfy?
o What is the value proposition – i.e., why would someone buy your product or service?
Include key resources and key activities.
SWOT ANALYSIS
Explain the Strengths, Weaknesses, Opportunities, and Threats for your idea, using the prompts below:
o Why is this the right time to implement this new business or venture?
o What is distinctive, disruptive, and/or innovative about your product or service?
o Include a SWOT Analysis. Use either the SWOT template or the SWOT Worksheet provided in your Assignment 1 Resources.
o Provide a detailed explanation of each SWOT quadrant.
Option C – NONPROFIT
ORGANIZATION DESCRIPTION
Briefly describe the Nonprofit Organization that you propose to create:
o Where will your nonprofit be set up?
o Include 501c3 status. Use the source below to learn more about 501c3 status:
Research Source: https://smallbusiness.chron.com/501c3-corporation64124.html
o What is the mission?
o What is the vision?
o How many staff will you need?
o Provide an Organizational Chart that shows the positions that will need to be filled.
Use the NPO Organizational Chart template in your Assignment 1 Resources.
o How fast do you plan to grow?
NEW PRODUCT OR SERVICE IDEA
Describe your New Product or Service idea, by answering the prompts below:
o What problem does your nonprofit organization address?
o Who will benefit from your service?
o What communities will your nonprofit organization serve?
o What is the value proposition – i.e., why would someone support your organizational mission? Include key resources and key activities. Use the source below to learn about creating a nonprofit value proposition:
Research Sources:
https://www.irs.gov/charities-non-profits/exempt-organization-types
SWOT ANALYSIS
Explain the Strengths, Weaknesses, Opportunities, and Threats for your idea, using the prompts below:
o Why is this the right time to implement this new business or venture?
o What is distinctive, disruptive, and/or innovative about your product or service?
o Include a SWOT Analysis. Use either the SWOT template or the SWOT Worksheet provided in your Assignment 1 Resources.
o Provide a detailed explanation of each SWOT quadrant.
FORMATTING
§ Typed, double-spaced, using Ariel or Times New Roman font (size 11 or 12) with oneinch margins on all sides; references must follow JWMI Writing Standards format.
Check with your professor for any additional instructions.
§ Your Organizational chart and your SWOT Analysis may be included in the body of your document or placed at the end of your document in an Appendix.
§ Include a Cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date.
§ Include a References page to identify your sources.
Note: The Cover page, References page, and Appendix (if used) are not included in the required page length.
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