Description: Working in teams is essential for any startup venture – Students will be assigned a team for the project. This team project will help students gain experience in the process of brainstorming, opportunity assessment, planning, forecasting, and many of the issues required to create a plan to launch a business as part of an entrepreneurial team. Using Figure 3.2 on page 80 of the Barringer text, teams will submit a concept paper 2.5 to 3 full pages in length (single spaced, 12-point type, Times New Roman or Arial fonts, 1” margins) that outlines major aspects of the business plan. The business plan will (A) provide a description of the product or service and detail the features (include a sketch if applicable); (B) highlight the intended target market listing the consumers or businesses who are expected to buy the product or service; (C) outline the benefits of the product or service and include an account of how the product or service adds value and/or solves a problem; (D) details how the product or service will be positioned relative to competitors; and, (E) briefly discusses the company’s management team. Please use headers to separate each section.
Page3Assessment: Points will be deducted for instances in which there are (1) failures to fully support a position, (2) formatting, spelling, and grammatical errors, (3) failures to fully address each question, (4) failures to provide content that is relevant, and (5) failures to organize content and frame arguments in a manner that is logical, comprehendible, and compelling.
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