You and your team should meet to determine a business that you would like to start.
All subsequent communication should take place through e-mail and other workgroup software that is available in the Small Group area, such as discussion board and chat area.
Using these methods of communication, as a group, develop a 4-6-page business plan for your new business.
The 4-6-page business plan must include the following:
- The product or service of the business
- Business goals and problem being solved
- Background of your management team and key employees
- The potential market for the product or service
- The competitive advantage of your business
- How the business will be organized and financed
You may want to outline the plan first to make sure you are not forgetting important information, then start filling in each section. If you need more information on what is discussed in each of these sections of a typical business plan, search the Internet.
Please Note: You are creating an abbreviated business plan, not as in-depth as a real one, but containing all the essential elements.
Submit the business plan to the small group submittal area. Be sure to use APA style, cite your sources, and support your statements.
After your group has met and decisions made about the business, and the plan has been created, compose a 1-page summary about the approaches used during the project to solve business problems. In other words, what problem-solving strategies and techniques were used during the decision-making process regarding the various aspects of the business plan?