JWI575 Assignment 1 Latest 2023 January

JWI 575: New Business Ventures and Entrepreneurship
Academic Submissions and Evaluation
Assignment 1: New Venture – Game Plan
Format: Paper
Due: Week 3, Day 7 (Weight: 20%)
OVERVIEW
Throughout this course you will develop a complete business plan for a new product or service. In each assignment, you will build a section of your plan, culminating in a complete business plan.
You have three Options for your business plan, depending on 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 create a Game Plan paper. It will describe your innovative “big idea”, craft your vision for its implementation, assess the idea’s strengths and weaknesses, and identify major opportunities and threats in the market. Your paper will be at least 4 pages long.
NOTE: In your business plan, avoid writing “I” or “We”; use the name of the company instead.
In Assignment 1, you will complete the following three sections of your Business Plan:
§ Section II: Company Description
§ Section III: New Product or Service idea
§ Section IV: SWOT Analysis
Follow the instructions in 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 What is the name of the new initiative?
o When will you launch the new initiative?
o Provide an Organizational Chart that shows the positions that will needed for the
initiative.
• Use the Organizational Chart template in your Assignment 1 Resources. Be sure to show where it fits into the overall parent company structure.
o What is the parent company’s mission (mission statement)? What is the mission for your new initiative? How does the new initiative/subsidiary align with the parent company’s mission?
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 Be sure to provide a detailed explanation of each of the four SWOT quadrants.
* * * * * * * * * * * * * * * * * * * *
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 (mission statement)?
o How many staff will you need? Provide an Organizational Chart that shows the needed positions. Use the Organizational Chart template in your Assignment 1 Resources.
o How fast do you plan to grow?
o Where is your company based (physical location)? Where does it or where will it do business (geographic area to sell product or service)?
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?
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 Be sure to provide a detailed explanation of each of the four SWOT quadrants.
* * * * * * * * * * * * * * * * * * * *
Option C – NONPROFIT
ORGANIZATION DESCRIPTION
Briefly describe the Nonprofit Organization that you propose to create:
o What is the name of your nonprofit?
o Describe your nonprofit’s 501c3 status. – i.e., what kind of 501c3 will you be?
• Use the research sources below to learn more about 501c3 status:
https://www.irs.gov/charities-non-profits/exempt-organization-types and https://smallbusiness.chron.com/501c3-corporation-64124.html
o What is the mission (mission statement)?
o When will your nonprofit launch?
o How many staff will you need? Provide an Organizational Chart that shows the needed positions. Use the NPO Organizational Chart template in your Assignment 1
Resources.
o Where will your nonprofit be based (physical location)? Where will it do business (geographic area to provide services to the beneficiaries)?
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 be the beneficiaries from your service?
o What communities will your nonprofit organization serve?
• What is the value proposition – i.e., why would someone support your organizational mission?
• Beneficiaries – What value are you providing to the beneficiaries?
• Donors – Why would someone support your organizational mission?
Use the research source below to learn about creating a nonprofit value proposition:
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 Be sure to provide a detailed explanation of each of the four SWOT quadrants.
* * * * * * * * * * * * * * * * * * * *
FORMATTING
§ Typed, double-spaced, using Ariel or Times New Roman font (size 11 or 12) with oneinch margins on all sides. Add page numbers. Check with your professor for any additional instructions.
§ Label each chart and graph by adding a Chart Title or a Caption.
§ 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. References must follow the format from the JWMI Writing Standards Guide.
Note: The Cover page, References page, and Appendix (if used) are not included in the required page length.

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