Post MGT211 unit 1 Discussion latest 2016 august Our text and learning unit 1 lists and discusses se
Post MGT211 unit 1 Discussion latest 2016
Our text and learning unit 1 lists and
discusses several myths of entrepreneurship and small business. Please complete
the following HRB Quiz at:
What surprised you as
a result of completing the survey? Do you agree or disagree with the results?
List and discuss
three characteristics you believe to betrue about entrepreneurs and why you
selected these characteristics.
Post MGT211 unit 2.1
& 2.2 Discussion latest 2016 august
Finding and Using
Part 1 of the
feasibility study requires you to identify the NAICS code of your proposed
business concept. As mentioned in this weekâ€™s learning unit, the North American
Industry Classification System (NAICS) provides not only a system to classify
your business but also provides valuable industry information and data, which
is an invaluable tool to a startup or existing business. In this discussion
thread, you will practice using the NAICS site and discuss your findings with
your classmates as presented in Skill Module 7.2 (Katz & Green).
What is your NAICS
code? (Katz, pl 190). Please go to the updated site:
In the text box that says â€œenter keywordâ€ enter the name of the industry that
best describes the industry in which your proposed business idea is located.
You should end up with a 6 digit code for the industry in which your business
will be located. If you are not sure of your industry, it may take some
experimentation. See examples in Skill module 7.2.
Once you locate your
NAICS code, go to www.census.gov and click on â€œeconomic census.â€ Once you are
in â€œeconomic censusâ€ enter your NAICS code and look for data related to your
Find and share one
fact about your industry that you find particularly intersting and that is
available at this cite such as number of establishments, annual revenue,
trends, etc. Also refer to Table 7.1 on page 200 for additional information and
For your convenience,
I am also attaching a table with the NAICS structure and numbers.
Not all good ideas
represent profitable business opportunities. Ideas must be tested and you will
have an opportunity to do so in your feasibility study which is the primary
written requirement for this course. You will also be introduced to many free
resources available to you in developing your feasibility study such as the
SCAMPER acronym (Katz & Green). Tim Hayden (See Focus on Small Business,
Katz & Green) developed a web-based application so that baseball fans could
watch TV instant replays while enjoying a baseball game at a stadium. Using the
SCAMPER acronym, discuss at least two methods in the acronym that Tim may use
to update his App to 2014? How will you use these methods in developing your
Post MGT211 unit 3 Discussion latest
Part 2 of your
feasibility study will require you to describe your customer base. This process
requires careful research to identify the types and concentration of customers
you will need to start and grow your business.
Please go to Skill
Module 11.2 on page 367. Following the directions in Skill Module 11.2 and
using the site: www.zipwho.com,
Please enter the
state and city where your proposed business will be located and share at least
three pieces of information describing your customer base such as education
level, ethnicity, age, etc.
Discuss how this
information will assist you in completing Part 2 of your feasibility study.
Post MGT211 unit 4 Discussion latest
year corporations spend millions of dollars for a few seconds of advertising
during the football championship super bowl game. Please watch the
advertisements in the link below, which includes 15 advertisements shown during
the 2014 super bowl game.
the target market and market segment of at least four advertisements in terms
of age group, gender, education, and any other marketing demographic
MGT211 unit 5.1 & 5.2 Discussion latest 2016 august
your stateâ€™s Secretary of State home page on the Internet. Find information on
forming LLCs. Answer the following questions and discuss your findings with
What state did you research?
Discuss reasons why you would or would not use the services of an attorney to
assist you in submitting your application.
If a start-up entrepreneur lacks certain competencies such
as understanding cash flow or not knowing how to use social media marketing
techniques, using the BRIE Checklist (Katz & Green, p. 14), discuss at least
three strategies the start-up entrepreneur could use to compensate for his or
her deficiencies. You may also want to refer to Skill Module 2.2.
Post MGT211 unit 6 Discussion latest
Read the case, Debbie
Dusenberry and the Curious Sofa (Katz & Green, pp. 409-10). Discuss the
following concepts with your classmates.
differences between profit and cash flow.
breakeven analysis (p. 311) help Debbie? Why or why not?
Where or how can
Debbie find help to save her business?
Post MGT211 unit 7
Discussion latest 2016 august
View Table 8.2 on page 225 of our textbook. Discuss the
differences and similarities between conducting a feasibility study and writing
a complete business plan.
How can the conduct of a strong feasibility
study help to minimize or avoid some of the most common critical risks in a
business plan listed on p. 238? Have you observed any of these risks in the
parts of your feasibility study completed to date?
Where would you find funds to start a
business? (See Table 15.1, p. 489).
Post MGT211 unit 8 Discussion latest
An effective elevator speech is
specific and has the capacity to â€œsellâ€ your business concept quickly to your
classmates who will play the role of venture capitalists. The elevator pitch is
designed to be brief but is a specific statement about your startup investment
opportunity. The idea is to be able to sell your idea to a potential investor
in an elevator going up or down about 30 floors, about 2 minutes. It should
also include the amount of startup cash or resources you would be requesting of
a potential investor. Please refer to â€œThe Thoughtful Entrepreneurâ€ (p. 242)
and to the notes in the â€œWritten Assignmentsâ€ in the Course Information Tab.
Post MGT211 FS Part 1 The Business
Concept assignment latest 2016 august
Part 1. Due by
Sunday, 11:59 pm.
According to the
research, a number of critical factors are important for a new ventureâ€™s
success and must be assessed in a systematic way prior to investing additional
time and oneâ€™s other resources. Those factors are summarized in â€œExhibit 4.2,
The Feasibility Study Outlineâ€ in the textbook, pages 93-96 and in the
Appendix, Sample Feasibility Study, pages 95-98. Your feasibility study
assignment will consist of four (4) written parts designed to assess the
initial financial viability of your business concept. Each
written component should be two pages in length and single spaced.The
page limitation is designed to encourage you be brief but specific. Part four
will require the completion of two spreadsheets that will be linked or attached
to that assignment.
analysis is a prelude to writing a business plan, which is more detailed and
thoroughly researched and is required if a bank loan or investment funds are
being sought. The purpose of the feasibility study is to assess whether or not
a good idea represents a profitable business opportunity and is designed to
gain sufficient information and data to provide you with a a â€œgo or no-goâ€
decision in moving forward in completing a full business plan.
For each assignment,
please include the Part number, e.g. Part 1, Part 2, etc.; and please include
the title of each lettered subsection in each assignment, e.g. a. b. c. etc.
Also make certain that your name is on the top of the pageand
that your electronic submission includes your name at the beginning of the
submission title e.g. Smith, J. Part 1.For
your convenience, I have also included text page numbers discussing the various
feasibility topics. The assignments are as follows:
Description of your Business Concept (2 pages single-spaced, please include
Describe your product or service
in a paragraph or two. Ref. pages 274-279.
Present the Mission of your
business, e.g. fundamental reason for being; and a Vision statement, what
you hope your business will become.
Describe the features or cost
benefits of your product or service. Ref. pages 188-197.
Describe the value benefits of
your product or service. E.g. why would someone pay for or buy your
product/service over your competitors. Ref. pages 188-197
Will your business be 1) an online
business; 2) an on-ground business; or, 3) a combination of both? Explain.
Provide the six-digit NAICS (North
American Industrial Classification System) number for your business. NAICS
numbers may be found at the following site:.census.gov/cgi-bin/sssd/naics/naicsrch?chart=2012″>http://www.census.gov/cgi-bin/sssd/naics/naicsrch?chart=2012
Locate the â€œkeyword
boxâ€ in the upper left hand corner and enter a keyword describing your
business, e.g. health food, pet products and this will lead you to your NAICS
MGT211 FS Part 2 Customer/Industry Analysis assignment latest 2016 august
Part 2. Due by
Customer/Industry Analysis (3-4 pages single-spaced, please include
Describe the industry within which
your business will be located and describe at least three recent trends in
that industry. Note:This
information and item b. following may be found using your NAICS number and
in trade organization publications. Also, see Skill Modules 3.1, p. 54)
and 7.2 (p. 190). And pages 18-190 and NAICS link above in assignment 1.
Describe the market growth rate
for your product/service, i.e, what is the market demand likely to be in the
next 1-3 years. You may also try using Google or Bing for this information
or trade associations (Skill Module 3.1, p.54) for your proposed business
Describe your market segment and
your market niche within that market segment, i.e. describe your customers,
who they are and where they are located. Ref. pages 393-95.
Describe at least three of your
competitors, why they are competitors and where they are located.
Where will you locate your
business? If a wholly online business what will you do to attract
How will you market or promote
your product/service? I.e., online sales, social media marketing, search
engine optimization, personal selling, etc. Describe in detail.
Post MGT211 FS Part 3 Management Team
and Operations assignment latest 2016 august
Part 3.Due by Sunday,
Part 3. Management
and Operations (2 pages single-spaced, please include subheadings) 10%.
Describe who will be the CEO and
his/her qualifications/experiences in the product/service industry,
including both education and work and other relevant experiences.
Describe briefly how you will
distribute your product or service. Ref. pages 348-358
Describe how many employees you will
need at startup, their particular expertise (e.g. marketing, financial,
operations, etc.), and how they will be paid.
Describe what types of external
advisors you will need and how they will be paid (e.g. lawyer, accountant,
Describe the legal organization of
your business (e.g. sole proprietor, LLC, Partnership, C Corporation, S
Corporation) and reasons for selecting this legal organization form. Ref.
page 600, Table 18.5.
Describe unpaid advisors who will
assist you during startup and 3 years thereafter.
Post MGT211 FS Part 4 Financial
Analysis and Requirements assignment latest 2016 august
Part 4. Due by
Part 4. Financial
Analysis and Requirements (3 pages single-spaced plus spreadsheets, please
include subheading.Please include a link to your
spreadsheet or include as attachments to part 4 document. Thank you!)
Describe your pricing strategy for
your product/service. Ref. Table 9.1 page 295.
Describe the amount of startup
funds you will need, where you will get them, and how they will be used.
List 3-5 assumptions governing
your cash flow projections. For a startup, assumptions are your â€œbest
educated guessesâ€ regarding goals such as how many units you will sell and
why, or what your cash flow will be at the end of each month and why, etc.
will you pay yourself, what will you pay your employees, will you use full
or part-time employees, what services will you outsource or contract out,
Complete your startup sources and
uses of funds using the â€œOpening Day Balance
Sheetâ€(third bullet point under â€œFinance
Templatesâ€) on the following website:
Develop a one-year
projected (pro forma) cash flow statementusing
the Cash Flow Statement (12
months)at the (eighth bullet point under
â€œFinance Templates) on the following website:
on the SCORE website:
The SCORE Opening Day
Balance Sheet and Cash Flow Statement (12 months) worksheets are â€œliveâ€ excel
worksheets and all you need to do is to (1) read the introductory information,
(2) enter your company name and (3) complete the spreadsheets indicated. Once
you get into the website, under â€œFinance Templatesâ€ click the third bullet for
the Opening Day Balance Sheetand
click on the eighth bullet for the Cash Flow
Statement (12 months).Make certain that you
have a full page view in order to see the full page. These worksheets are
active and include appropriate formulae. You just need to insert your projected
numbers. When you click on the worksheet tabs, go to the â€œreviewâ€ panel in
excel and â€œunprotectâ€ the worksheets. This will give you working access and
then you will be able to save your completed worksheet as your own in your
Opening Day Balance
Sheet (or Sources and Uses of Funds)
The Balance Sheet is
a snapshot of your financials at a given point in time. In this case, it will
on the first day of start-up, representing your pro forma projections of how
much you will need to start your business and where the funds will come from.
The Balance Sheet is a statement of an ownerâ€™s assets, liabilities, and equity
and should balance; that is, assets must equal liabilities plusthe
ownerâ€™s equity. This balance sheet is active as well, and your assets,
liabilities, and equity should be based on your best case projections and
subsequently are reflected in your Cash Flow Statement worksheet. You just need
to insert your numbers and, as above, you donâ€™t have to use all items, if not
appropriate to your business.
Cash Flow Statement
The Cash Flow
Statement worksheet projects your businessâ€™ cash inflows and outflows over a
given period of time (in this case, one year, Jan. 1, 20xx to December 31,
20xx) and should reflect your assumptions for growth during that time period.
Please indicate your assumptions in an attachment to the worksheets. Along with
your assumptions, include when you project your breakeven point to be; that is,
the time period after which you project a profit (and how you calculated your
breakeven point). You do not have to use all items listed in spreadsheet. Use
only those items that may be appropriate to your business.
I am providing these SCORE â€œBusiness Plans & Financial Templates for your
convenience. You can create your own excel spreadsheets or find and use other
Post MGT211 Final
Examination assignment latest 2016 august
examination is comprehensive based on the Red Jett Sweets, Inc. business plan
and is to be completed using the essay format. It is worth 30% of your final
grade. The final is due by Sunday at midnight EST.