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If you didn’t have to worry about a steady salary and health insurance and wanted to start your own in business in the U.S. market. Identify what type of business would you start? Any business, whether you’re opening a sandwich shop, or a marketing firm, starts with an idea in your mind of how to provide value to customers and profitability for yourself. (Do not use sandwich shop or marketing firm as the business choice)
In business, providing value to customers is how profits are generated.
When you start your own business, you have to start with a strategic plan. To build a strategic plan, you start with your business idea and then take your business idea through the strategic planning models we are learning to apply in this course. The outcome provides you with information you would need to build your strategic plan to start your own business.
Take your business idea through the steps outlined above and report on whether the business idea appears to be feasible to implement.
Your paper should be structured in the following format:
1. Executive Summary (synopsis of the proposal, rationale, research, findings, and recommendation) No more than one page. May be bullet pointed.
2. Proposal Section. State your business idea
3. Rationale for the proposal. Why do you want to start a business
4. Research/Best Practices. This is the section you will apply the two strategic planning models you choose. You may choose PORTERS FIVE FORCES, SWOT ANALYSIS, VALUE CHAIN, or BCG MATRIX, Or You will also include in this section any articles you read, interviews you conducted, and any other research you conducted.
5. Research Findings. This is the section where your research findings from the section above will support your proposal from section 2.
6. Recommendation. Based on your findings, do you recommend that starting the business appears to be feasible?
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