...1. Introduce the company and the product/service idea for the new venture. Heat Seekers Inc. is about to launch a new innovative product to consumers in various markets called the ESU coat. Consumer needs, taste, disposable income, and preferences are the standard drivers for continued advancements in the 21st Century. Technological advancements create windows of opportunity for an entrepreneur to accommodate the needs of the consumer. A venture “provides a complete overview of the product(s), service(s), and operations of a new innovation” (Hisrich, Peters, & Shepherd, 2010). We have advanced from campfires, wood burning stoves, hot water bottles, heating blankets, and the utilization of natural resources to heat our inhabitance, to now the technological development of solar powered green energy heating sources. Despite the advancements in technology the dilemma associated with personal on the go heated comfort are an under developed niche. The ESU coat gets even better; from a health perspective the ESU coat can also help to aid people who have poor blood circulation in the body. The ESU coat is a great quality product unlike no other currently offered by existing competitors which will sustain constant growth in a global market. It is a solar energized eco friendly coat with a personal temperature gauge control to adjust the degree of heat emitted. It does not require any batteries, plugs, or adaptors. It is insulated, portable, hypo allergenic, flame and water...
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...Magic Hands Car Wash is a prominent hand car wash that will be serving all the southern rural area. Magic Hands will be run by Dewayne Russell who decided to have his very own self business. The Russell family has been serving the southern area with car repair business and property development /management for over 20 years. Dewayne will be leveraging the incredible good will and brand recognition of the Russell family name to quickly gain market penetration. Magic Hands will be providing customers with three services: exterior car washing, interior cleaning, and detailing. Magic Hands has no true competitors that are trying to offer a high quality service for a reasonable rate. Most are trying to compete on price alone. Magic Hands ability to provide a high quality service, both in regards to the actual washing as well as customer service is all based on their ability to find the best employees. Hiring the best employees is cost effective because it decreases HR costs associated with turnover and other employee costs. Hiring the best employees and making sure that they are well taken care of ensures that they in turn take care of the customers. Study after study proves that a happy employee is far more likely to provide the highest level of customer service compared to an employee who is not happy and feels that they are being taken advantage. Magic Hands will target three main groups of customers: individual car owner and leasers, car dealerships, and local businesses...
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...The Frizz Curl Control line is a natural hair care product offered to people that wish to use natural or organic products on their hair. Within this line we offer, shampoos, conditioners, deep conditioners, leave in conditioners, mousses, wrap lotions, hair serums, locking wax, oil sheens, and scalp conditioners, for natural hair and chemically processed hair. Each product is made from natural products that range from beeswax to ylang ylang and produce a wide variety of results. Those people that have natural hair, meaning no chemical processing, are able to use a product that is specifically designed for whatever the natural state of their hair is. For instance, if you have dredlocks than we offer products that promote a healthy scalp as well as locking gels and waxes that will allow your hair to maintain a level of sheen without clogging up the pores of the scalp. If you are a person that has twists then you are able to use the same products as the people with dredlocks, but we provide a serum that helps to maintain your twists longer and helps to prevent breakage. For those that wear natural curls we offer shampoos and conditioners that will help to prevent frizzing, couple that with the frizz serum and you will be able to walk out into the most humid of days without the worry of frizzing. On the side of the coin are those people that use or have used chemicals to process their hair. If you have used a relaxer for straightening and desire to continue this process...
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...com/ENTR%20510/entr-510-week-4-homework Product Description ENTR 510 Week 4 Homework New Venture Table of Contents Introduction3 Necessary skills for the first person3 Necessary values4 References5 ENTR 510 Week 4 Homework Purchase here http://devrycourse.com/ENTR%20510/entr-510-week-4-homework Product Description ENTR 510 Week 4 Homework New Venture Table of Contents Introduction3 Necessary skills for the first person3 Necessary values4 References5 ENTR 510 Week 4 Homework Purchase here http://devrycourse.com/ENTR%20510/entr-510-week-4-homework Product Description ENTR 510 Week 4 Homework New Venture Table of Contents Introduction3 Necessary skills for the first person3 Necessary values4 References5 ENTR 510 Week 4 Homework Purchase here http://devrycourse.com/ENTR%20510/entr-510-week-4-homework Product Description ENTR 510 Week 4 Homework New Venture Table of Contents Introduction3 Necessary skills for the first person3 Necessary values4 References5 ENTR 510 Week 4 Homework Purchase here http://devrycourse.com/ENTR%20510/entr-510-week-4-homework Product Description ENTR 510 Week 4 Homework New Venture Table of Contents Introduction3 Necessary skills for the first person3 Necessary values4 References5 ENTR 510 Week 4 Homework Purchase here http://devrycourse.com/ENTR%20510/entr-510-week-4-homework Product Description ENTR 510 Week 4 Homework New Venture Table of Contents Introduction3 ...
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...as problems or threats. * A serial entrepreneur starts and runs businesses and nonprofits over and over again, moving from one interest and opportunity to the next. * A first-mover advantage comes from being first to exploit a niche or enter a market. What many people think is that entrepreneurial ventures and small businesses are one and the same, but they aren't. Entrepreneurial ventures are organizations that pursue opportunities, are characterized by innovative practice, and have growth and profitability as their main goals. While, Small Businesses are organizations that are independently owned, and financed; has fewer than 100 employees; doesn't necessarily engage in any new or innovative practices; and have relatively little impact on its industry.(p292) Attitude & Personal Interests of Entrepreneurs * Internal locus of control. * High energy level * High need for achievement * Tolerance for ambiguity * Self-confidence * Passion and action orientation * Self-reliance and desire for independence * Flexibility "Whether your interest is low-tech or high-tech, online or offline, opportunities for new ventures are always there for the true entrepreneur. To begin, you need good ideas and the courage to give them a chance." So,...
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... IV. Business Description…………………………………………………………….5 V. Description of Proposed Product………………………………………………..6 VI. Definition of the Market…………………………………………………………7 VII. Organization and management descriptions………………………………….8 VIII. Marketing Strategies………………………………………………………….11 IX. Financial Management……………………………………………………………12 X. Appendixes…………………………………………………………………….12 XI. Plan Updating Check List………………………………………………………15 Executive Summary Find Your Gadget, Inc. is the name of the new S corporation I started to introduce my invention product “Ring – in Finder” to market. The industry is huge and the market is big and after researching the market, I found that there is a big demand for this type of product. Being difficult to fund the start – up my business; my best choice is to look for venture capitalists to adopt the idea and support my business financially and help me with the best management strategies advice to reach my goals and succeed with my venture. Convincing venture capitalists requires a solid business plan to be presented with an educated request for funding supported by backing evidence that my idea is marketable, a study of target market and target customers showing their acceptance to the idea. I started my business plan with the description of my business, description of the company’s structure including how many managers and how many number of employees, description of my product...
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...- The Executive Summary The purpose of the executive summary is to capture the interest of the investors/lenders so they will want to find out more about the venture. These investors are likely to spend no more than 3 to 5 minutes before making a preliminary decision about your proposal. Therefore, this section is first, and in some ways is most important. This section should emphasize key issues and be no longer than 2 to 3 pages. The following information should be addressed in the executive summary: * Company profile * Nature of the product/service being offered * Size and growth trend of the market * Make-up and background of the management team * Financing requirements * Key projections (sales, gross profits, net income) * Proposed use of funds * Proposed exit strategy including projected ROI The executive summary is written last, after the rest of the plan is completed. Section 2 - Business Description This section of the business plan should provide the reader with a more detailed overview of the company and the nature of the product/service offering. It should include the following: * Mission Statement * History behind the idea or current business * Company's current or proposed legal form * Proposed entry strategy and time line of events * Description of the initial product/service (including any...
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...ASSIGNMENT #2 (CHAPTER 6) READ THE CHAPTER THOROUGHLY BEFORE ANSWERING THE QUESTIONS. PROVIDE ADEQUTE EXPLANATIONS TO YOUR ANSWERS. ANSWERS SHOULD NOT BE COPIED FROM ANOTHER SOURCE. PART I Explain Key terms of page 166 with proper explanations. PART II Select the correct answer (You can high light) 1. A business plan is best described as a a. | crystal ball picture. | b. | money plan. | c. | contingency plan. | d. | game plan. | 2. The primary outside users of business plans are a. | employees. | b. | investors and lenders. | c. | customers. | d. | government agencies. | 3. Which group would be the most interested in a business plan for a new venture? a. | Customers | b. | Lenders | c. | Supervisors | d. | The Internal Revenue Service | 4. Jill is writing a business plan for a small home based operation. If well written, the business plan will assist her in determining if a. | the business aligns with personal goals. | b. | an investor would be a perfect fit for the proposed company. | c. | suppliers can be found for the operation. | d. | outsiders can be made into insiders. | 5. The document that assists an entrepreneur and the management team focus on important issues and activities is a. | the organization chart. | b. | the budget. | c. | the sales analysis. | d. | the business plan. | 6. A business plan a. | is best for telling insiders about the company. | b. | is more important...
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...NEW VENTURE PROJECT Introduction The New Venture Project will test your group’s ability to: perform independent research and write a formal business report, make a formal presentation of your findings, and manage the time and skills of your group members. The objective of this assignment is to persuade your audience/potential investors that you have identified an opportunity that fills an important gap in the market. You are asked to identify an idea for a new venture and conduct an environmental analysis (PEST, Five Forces, size of market) to prove that your idea is worth funding. Essentially, you are answering two questions: What is your idea and why does it represent a worthwhile opportunity in the business environment? This project is worth 20 marks of your BU111 final grade and consists of three components: • 4 marks for the New Venture Preliminary Report (hard copy due BEFORE Friday, October 12th at 12 noon; turnitin and peer evaluations due BEFORE Friday, October 12th at 12 midnight • 10 marks for the Final Report (hard copy due BEFORE Friday, November 16th at 12 noon and turnitin and peer evaluations BEFORE Friday, November 16th at 12 midnight) • 6 marks for the New Venture Presentations (done in Labs #10 or #11 as assigned by TA – peer evaluations due BEFORE Wednesday, December 5th at 12 midnight) Details on what is required and how to complete and submit each of the above components are provided below. New Venture Idea...
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...------------------------------------------------- Top of Form DESCRIPTION Grolsch reassesses its international strategy in light of the company's recent acquisition by SABMiller, the world's second-largest brewer. Grolsch was the 21st-largest global beer brand, sold 51.5 percent of its volume in international markets, and exported to 70 countries. However, its poor profitability in international markets--four countries alone accounting for two-thirds of foreign sales--and churn of markets and distribution partners raised concerns about the company's international strategy and execution. Grolsch's 60 years of history in foreign markets provides a rich backdrop to introduce a range of international strategy topics, including performance assessment, rationale for expansion, market selection, and choice of entry mode. Questions 1) Why did Grolsch globalize, and how well has it performed internationally? 2) What are the key elements and limitations of its emphasis on adaptation, in particular? 3) What changes would you suggest to Grolsch’s historical strategy? Mo 14.10.2013 | Case study: International alliance | UTV and Disney: A Strategic Alliance (A) Atanu Adhikari, Rama Deshmukh ------------------------------------------------- Top of Form DESCRIPTION The case describes the dilemma faced by the senior vice-president of business development and strategy when deciding in 2006 whether UTV Software Communications Ltd. (UTV) should go ahead with a joint venture with Walt Disney Company (Disney)...
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...THE FOLLOWING MICROSOFT OFFICE PROGRAMS: 1. Microsoft Project 2007 2. Microsoft Power Point 2007 3. Microsoft Visio 2007 Prepared For Mr. Paul Pierce, Manager Trainer Consultants and Solutions By Jamey Somerset Senior Manufacturing Engineer Venture AeroBearings June 7, 2008 Venture AeroBearings Inc, LLC. “Where Imagination meets Innovation” 5500 Palmetto Commerce Pkwy Ladson, SC 29445 June 7, 2008 Mr. Paul Pierce 1234 Crowfield Corporate Pkwy Charleston, SC 29445 Dear Mr. Pierce: This letter is a request for proposal (RFP) to have your company provide training services for Microsoft Project 2007, Microsoft Visio 2007 and Microsoft Power Point 2007. Background: Venture Aerobearings LLC, a joint venture between SKF and GE, was created in August 2007 (Venture Aerobearings, 2008). VA was founded by our parent companies to be an innovative aerospace manufacturer of jet engine bearings with teams consisting of diverse individuals from various backgrounds whose focus is to continually bring groundbreaking and innovative ideas for the progression of VA (Venture Aerobearings, 2008). Our salary team consists of 25 individuals including the plant manager. The purpose of this training is to enhance technical reporting and increase cross communication across other divisions of GE and SKF. We are looking forward to working with your staff, and please feel free to contact me for additional...
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...of making future plans for different organizational functions. More specifically, business plan is (1) A written document that details the proposed venture. (2) A description of all the facts, like the project, marketing, research and development, manufacturing, management, critical risks, financing and milestone of proposed venture. (3) A document written to raise money for a growing company from the banks of financial investors. (4) Future guide for successful operation of the venture. Why business plan is so essential? 1.The preparation process of a business plan forces the entrepreneur to take an objective , critical, and unemotional look at the business in its entirely. 2. It is a tool to managing the business better. 3. It is a way of communicating the firm’s ideas to others and the basis for the financial proposal. 4. It improves the firm’s chances of success. 5. It sells the entrepreneur and others on the business.6. It communicates the strategy and business approach within the firm. Business plan checklist: A personal step by step evaluation 1. Business description segment 2. Marketing segment 3. Research design & development segment 4. Manufacturing segment 5. Management segment 6. Critical risk segment 7. Financial segment 8.Milestone schedule segment 9. Appendix segment Joint venture: A joint venture is a separate entity involving two or active participants as partners. Sometimes called strategic alliances, they involve a wide variety of partners...
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...[pic] BUSINESS IDEA [Version 2.1/160708/TeDD/MDeC] Content | | | |Section 1.0 EXECUTIVE SUMMARY……………………………………………. |1 | |Section 2.0 PRODUCT AND SERVICE DESCRIPTION……………………….. | | | |1 | |Section 3.0 TECHNOLOGY DESCRIPTION………….………………………… | | | |1 | |Section 4.0 MARKET AND COMPETITION……………………………………. | | | |2 | |Section 5.0 BUSINESS MODEL………….………………………………………. | | | |2 – 3 | |Section 1.0 EXECUTIVE SUMMARY ...
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...services including hardware and software upgrades, hardware repairs, debugging software problems, dealing with network problems, . They would model their business after the established franchise, Geek Squad. They would call their service Nerd Patrol. In putting together their business plan, they have a wide range of options they can pursue. For example, they can start cautiously, with John being the only full-time employee at the outset, then having Mary and Nabil join the venture later (low start-up costs). Or else they can try launch Nerd Patrol as a full-fledged operation (high start-up costs). Identify a strategy that they can pursue, then develop a business plan that describes their proposed venture. Outline of the Business Plan Document In the world of real business, business plans can take on a variety of shapes and sizes. They may range in length from a few pages to hundreds of pages, UMT © 2008 University of Management and Technology 3 of 6 depending on the nature of the venture. They can be filled with detailed financial and marketing data, or simply a brief sketch of financial and marketing requirements – depending on how much data...
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...Business Structure Advice Leroy Washington FIN 571 February 22, 2016 University of Phoenix Instructor – Hillman Lo The purpose of this paper is to provide prospective business owner, John Owner, with as much information as possible in his quest to start a new business. This paper is being written in response to Mr. John Owner’s email as shown below: Dear Consultant, I am currently starting a business and developing my business plan. I am in need of some advice on how to start forming my business. I am uncertain exactly how it will be financed and whether or not I want to take on partners. I am interested and willing to learn the intricacies of my options to determine how to best proceed with my plan. Please advise me regarding what my options are, the advantages and disadvantages of each option, and possible tax consequences for each scenario? Respectfully, John Owner Elements of a Business Plan 1. Executive Summary. The Executive Summary provides a succinct synopsis of the business plan, and highlights the key points raised within. The Executive Summary must communicate to the prospective investor the size and scope of the market opportunity, the venture's business and profitability model, and how the resources/skills/strategic positioning of the Company's management team make it uniquely qualified to execute the plan. The Executive Summary must be compelling, easy-to-read, and no longer than 2-4 pages. 2. Company Analysis. This section provides...
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