Entrepreneurship—MAN 4802



New Venture Creation MGT 320: Course Policies and Assignments Fall 2006

Monday and Wednesday -- Miriam Hall, Room 207

|Professor: Diane M. Sullivan, Ph.D. |Office Hours: Monday and Wednesday |

|Office location: SBA, room 702 |1:00pm-2:45pm, or by appointment |

|Phone: 937-229-3705 | |

|Email: sullivdi@notes.udayton.edu | |

|Website: |

Objective

MGT 320 is the foundation course for the Entrepreneurship major. This course is intended to provide the student with the basic knowledge necessary to create new business ventures and to innovate within existing companies. Some goals of the course include:

1. Determine if entrepreneurship is an appropriate career choice

2. Understand entrepreneurship, including how to start a new business, and how to manage the entrepreneurial venture

3. Learn the importance of innovation, market research, new business feasibility, and planning, product and service concepts

4. Prepare you for future courses necessary to complete the Entrepreneurship major

Text

Barringer, B.R. and Ireland, R.D. (2006). Entrepreneurship: Successfully Launching New Ventures. Pearson Prentice Hall: Upper Saddle River: NJ.

Any supplemental materials (e.g., cases, readings, etc.) that may be needed will be available as needed on my website. You will be informed as to when you are to print out these materials and bring them to class.

Grades

Grades are comprised of:

|Assignments |Point Value |Due Date |

|Individual Assignments | | |

|Elevator Pitch (Lifestyle business) |80 |September 13, 2006, Wednesday |

|Elevator Pitch (Micro-business) |60 |October 18, 2006, Wednesday |

|Elevator Pitch (Growth-oriented business) |60 |November, 6, 2006, Monday |

|Exam #1 (Chapters 1-5, Articles, Special Topics) |150 |October 4, 2006, Wednesday |

|Final Exam (Chapters 6, 8, 9, 13, 14, Articles, Special Topics) |150 |3:00pm – 4:15pm class: The final exam is on Wednesday, |

| | |December 13th from 10:10am – 12:00pm in room MH 207 |

| | |4:30pm – 5:45pm class: The final exam is on Monday, |

| | |December 11th from 4:30pm – 6:20pm in room MH 207 |

|Assignments |Point Value |Due Date |

|Team Assignments: | | |

|Feasibility Assignment Description of Business and Team Documents |100 |September 25, 2006, Monday |

|Paper | | |

|Product/Service Feasibility Analysis Paper |100 |October 11, 2006, Wednesday |

|Industry/Market Feasibility and Competitive Environment Analysis |100 |October 25, 2006, Wednesday |

|Paper | | |

|Organizational Feasibility Analysis Paper |100 |November 13, 2006, Monday |

|Feasibility Analysis Presentation |100 |November 27, 2006 (Monday): Teams 1 and 2 |

| | |November 29, 2006 (Wednesday): Teams 3 and 4 |

| | |December 4, 2006 (Monday): Team 5 |

|Participatory Evaluations | | |

|Preliminary Peer Evaluation | |October 18, 2006, Wednesday |

|Peer Evaluation (Determines percentage of team points each team |Between 0% and 100% |Due when team presents |

|member receives) | | |

|Total Possible Points (individual and team): |1,000 | |

➢ Grading

The plus/minus system will be used whereby grades will be distributed according to the following schedule:

Out of 1,000 Points:

|Grade |Low Range |High Range |Percentage (low |GPA |

| | | |range) | |

|A |= |925 |1,000 |92.5% |4.00 |

|A- |= |900 |924 |90.0% |3.67 |

|B+ |= |875 |899 |87.5% |3.34 |

|B |= |825 |874 |82.5% |3.00 |

|B- |= |800 |824 |80.0% |2.67 |

|C+ |= |775 |799 |77.5% |2.34 |

|C |= |725 |774 |72.5% |2.00 |

|C- |= |700 |724 |70.0% |1.67 |

|D |= |650 |699 |65.0% |1.00 |

|F |= |- |649 |0.00% |0.00 |

➢ Attendance

Excessive absences (more than 3) will result in a reduction of your final grade, and will also detrimentally affect how your team evaluates you and how I evaluate your class participation efforts. If you are late coming into class or leave early, that will have a direct effect on your class participation grade. I will not excuse absences for whatever reason. If you believe you have a good reason for your absences, I suggest you apply for a withdrawal status should your absences become excessive. Grade reductions will occur as follows:

4 absences: 1 letter grade reduction

5 absences: 2 letter grade reductions

6+ absences: 3 letter grade reductions

I believe students who attend all class sessions throughout the semester should be rewarded. Students who attend all class sessions will receive 5 extra credit points.

Miscellaneous Policies

➢ Academic Integrity

1. Academic dishonesty will not be tolerated. This is a policy that I take very seriously. If cheating, plagiarism, or academic dishonesty of any kind occurs, the offender will be automatically dismissed from the course with a failing grade.

2. The University Bulletin specifies what constitutes academic dishonesty, so I suggest that you read it. For example, beyond those types of dishonesty discussed in point one in this section, academic dishonesty also involves enabling others to cheat. That is, if you “lend an assignment” to someone, and they copy it (or just portions of it), you will receive the same penalty as they do. It doesn’t matter if you tell them not to copy, if they do so anyway, you share liability with them. If it is a group assignment, I use my judgment to decide what to do, but everyone within the group can received the same grade.

3. With regard to citing references that you have used within the body of your work, you must cite all sources. Anything that is cut and pasted should be included in quotes, and cited in your references section. Do not excessively use direct quotes, either. Be sure to paraphrase if direct quoting becomes excessive. If you are unclear of what to cite or not, contact me for clarification prior to turning in materials.

➢ Electronic Devices

1. Cellular phones and other electronic devices are not allowed to be used in the classroom. All electronic devices must be turned off.

➢ Classroom Professionalism

1. Always be respectful of others in the class (professor and students alike); both their opinions and their comments.

2. Respect extends beyond the classroom. The content of any emails, group meetings, online chat meetings, etc., should be carefully thought out. Please be respectful of each other and the professor, including your electronic transmittals. Remember this is a formal business course and I expect you to conduct yourselves as business people both inside and outside of the classroom, including any correspondence.

3. The professor reserves the right to alter the syllabus, itinerary, or class assignments at any time.

4. Any behavior deemed by the professor as unprofessional will result in up to a 10% reduction in your final grade.

New Venture Creation MGT 320

Course Outline for Fall 2006

Professor: Diane M. Sullivan

The following is a schedule outlining the various topics to be discussed in the course. All readings and assignments are due on the day noted on this itinerary, so please come to class prepared to discuss the readings assigned for each class period. Changes can and may occur to maximize learning.

|Class Date |Day |Topics |Assignments Due |

|August 21 |Monday |*Classes Begin* | |

| | |Introduction | |

| | |Assignment Discussion | |

|August 23 |Wednesday |Introduction to Entrepreneurship |Individual Assignment Due: Individual Performance Contract |

| | | |Due |

| | | |Reading Assignment(s) Due: Textbook, Chapter 1 |

|August 28 |Monday |Recognizing Opportunities and Generating Ideas Day #1 |Reading Assignment(s) Due: Textbook, Chapter 2 |

|August 30 |Wednesday |Recognizing Opportunities and Generating Ideas Day #2 |Reading Assignment(s) Due: Schumpeter on Speed article |

| | |Creative Destruction/Opportunity Recognition In-Class |(Author: Rich Karlgaard) |

| | |Exercise |Reading Assignment(s) Due: File Sharing: Creative |

| | | |Destruction or Just Plain Destruction (only read pages 1-4) |

| | | |article on website (Author: Stan Liebowitz) |

|September 4 |Monday |*No Classes, Labor Day Holiday* | |

|September 6 |Wednesday |Recognizing Opportunities and Generating Ideas Day #3 | |

| | |Identifying Opportunities via Porter’s Value Chain | |

|September 11 |Monday |Special Topic: The “Art” of the Elevator Pitch |Download and bring to class Elevator Pitch Slides on website|

|September 13 |Wednesday |Elevator Pitch for Lifestyle Businesses and Team Formation|Individual Assignment Due: One-minute elevator pitch for |

| | | |lifestyle business (80-points) |

|September 18 |Monday |Introduction to Feasibility Analyses |Reading Assignment(s) Due: Textbook, Chapter 3 |

|September 20 |Wednesday |Product/Service Feasibility analysis |Reading Assignment(s) Due: Textbook, Chapter 3 |

| | |Using tools from market research | |

| | |Prototypes and R&D (IDEO company; American Inventor) | |

|September 25 |Monday |Industry and Competitor/Market Feasibility Analysis |Reading Assignment(s): Textbook, Ch. 4 |

| | |Assessing Industry Attractiveness via Porter’s Five Forces|Team Assignment Due: Feasibility Assignment Description of |

| | | |Business and Team Documents Paper (100-points) |

| | |Industry Structures and Opportunities |Download and bring to class Industry Structures and |

| | | |Opportunities Handout from website |

| | | |Download and bring to class Porter’s Five Forces Handout |

| | | |from website |

|September 27 |Wednesday |Organizational Feasibility Analysis – Part I |Reading Assignment(s) Due: Textbook, Chapter 5 |

|October 2 |Monday |Exam #1 Review | |

|October 4 |Wednesday |Exam #1 |Individual Assignment: First exam (150-points) |

| | |(Chapters 1-5 and in-class material) | |

|October 9 |Monday |*Mid-Term Break, No Classes* | |

|October 11 |Wednesday |Organizational Feasibility Analysis – Part II |Reading Assignment(s) Due: Textbook, Chapter 6 |

| | | |Team Assignment Due: Product/Service Feasibility Analysis |

| | | |Paper (100-points) |

|October 16 |Monday |Ethical and Legal Issues Associated with Founding New |Reading Assignment(s) Due: Textbook, Chapter 8 |

| | |Ventures | |

|October 18 |Wednesday |Elevator Pitch for Lifestyle Businesses and Team Meetings |Individual Assignment Due: One-minute elevator pitch for |

| | | |micro-business (60-points) |

| | | |Team Assignment Due: Peer Review |

|October 23 |Monday |The Business Plan Part I |Reading Assignment(s) Due: Textbook, Chapter 9 |

|October 25 |Wednesday |The Business Plan Part II |Reading Assignment(s) Due: Why Business Models Matter |

| | | |article on website (Author: Joan Magretta) |

| | | |Team Reading Assignment(s) Due: Napster’s New Old Business |

| | | |Model article on website (Author: Anthony Bruno) |

| | | |Assignment Due: Industry/Market Feasibility and Competitive|

| | | |Environment Analysis Paper (100-points) |

|October 30 |Monday |Growth-Oriented Ventures |Reading Assignment(s) Due: Textbook, Chapter 13 |

|November 1 |Wednesday |Strategies for Firm Growth |Reading Assignment(s) Due: Textbook, Chapter 14 |

|November 6 |Monday |Elevator Pitch for Growth-Oriented Businesses and Team |Individual Assignment Due: One-minute elevator pitch for |

| | |Meetings |growth-oriented business (60-points) |

|November 8 |Wednesday |Special Topic: Entrepreneurial Strategies |Download and bring to class Entrepreneurial Strategies |

| | | |Slides on website |

|November 13 |Monday |Special Topic: Networking and Entrepreneurship |Team Assignment Due: Organizational Feasibility Analysis |

| | | |Paper (100-points) |

|November 15 |Wednesday |Special Topic: The Role of Negotiating in | |

| | |Entrepreneurship | |

|November 20 |Monday |Team Meetings and Preparation for Feasibility Analysis | |

| | |Presentations | |

|November 22 |Wednesday |*Thanksgiving Holiday, No Classes* | |

|November 27 |Monday |Team Feasibility Analysis Presentations (Teams #1 and #2) |Team Assignment Due: Feasibility Analysis Presentation and |

| | |and Peer Evaluations Due to Teams #1 and #2 |Peer Evaluation (Teams #1 and #2) |

|November 29 |Wednesday |Team Feasibility Analysis Presentations (Teams #3 and #4) |Team Assignment Due: Feasibility Analysis Presentation and |

| | |and Peer Evaluations Due to Teams #3 and #4 |Peer Evaluation (Teams #3 and #4) |

|December 4 |Monday |Team Feasibility Analysis Presentation (Team #5) and Peer |Team Assignment Due: Feasibility Analysis Presentation and |

| | |Evaluations Due to Team #5 |Peer Evaluation (Teams #5) |

|December 6 |Wednesday |*Last Day of Classes* | |

| | |Wrap up and preparation for final exam | |

|Final Exam Week |Final Exam (150-points) |3:00–4:15pm: The final is on Wednesday, Dec. 13th, 10:10am |

|(December 11-15) |(Chapters 6, 8, 9, 13, 14, Special Topics, and in-class |– 12:00pm, rm MH 207 |

| |material) |4:30–5:45pm: The final is on Monday, Dec. 11th, 4:30pm – |

| | |6:20pm, rm MH 207 |

New Venture Creation: Individual Assignments

Assignment Name: Elevator Pitch (Lifestyle Business)*

Assignment Type: Individual Assignment

Points: 80-points

Due Date: September 13, 2006, Wednesday

As you have learned, a lifestyle business is a type of new venture that is generally somewhat focused in its scope within the industry it competes and growth aspirations for the firm are generally modest. That is, founders of lifestyle businesses are not usually looking to grow their ventures to become large organizations. Another term that you may have heard for a lifestyle venture is a “small-to-medium size company,” or SME. Further, the types of firms that your book refers to as “salary-substitute firms” would fall under this category. Regardless of the growth aspirations of the founder, the entrepreneur is generally interested in starting and running the company for an indefinite amount of time (e.g., they are not looking for a liquidity event), and they generally only have one or just a few physical “office” locations. Characteristics of these types of firms include that they provide their founders with enough financial means to make a living equivalent to what they might earn in a traditional job and they occasionally allow their founders to pursue a particular lifestyle or interest (e.g., in the case of founders pursuing a particular hobby or special interest).

For this assignment, you will be required to identify an opportunity for a lifestyle venture and to conduct a one-minute elevator pitch of that lifestyle venture in front of the class. The new venture, lifestyle business, elevator pitches conducted by the class are very important as five of them will become the topic of your group feasibility projects. Consequently, carefully consider and prepare these presentations. Specifically, after everyone in the class has completed the one-minute, lifestyle venture elevator, pitch I will select five that seem the most promising upon my initial inspection of the idea. Teams will them be formed around the five selected lifestyle business opportunities.

Written Portion (30-points)

In addition to the one-minute, oral, elevator pitch you will also be required to submit a one-page write-up of the idea.

• I expect that this and all assignments will be typed and proper grammar (including complete sentences) will be used.

• At the top of the write-up, please be sure to include your name, the assignment due date, and the name of the assignment.

• The write-up is due at the beginning of class.

Elevator Pitch (50-points)

The elevator pitch should roughly consist of the following and you should be sure to follow the guidelines discussed in the lecture on the “art” of the elevator pitch. That is,

• The elevator pitch should be a short, simple description of your company or business idea that your grandmother could understand by the time you ride up three floors in a typical elevator.

o You have one-minute to complete your pitch. You will be stopped if you exceed one-minute.

• Remember that you are pitching what your business will do for investors and customers, so pitch how your business will solve a tangible problem that exists.

• Be sure to include the following components in your pitch:

1. The Hook- pain point or heart grabber

2. Brief description of product/service

3. Brief market description

4. Brief description of competition

5. How you are different from other solutions

6. How you will make money

• Further, I will consider the following criteria as I evaluate the elevator pitches: presentation and content.

o Presentation:

An “A” presentation features the following:

1. Excellent eye contact with the audience

2. Excellent flow, smooth throughout the entire pitch

3. Exhibits evidence of rehearsal

4. Absence of speech tics (e.g. “ummmmm”, Errrr”)

5. No nervous laughter, nor awkward body language

6. Clear speaking voice, loud enough to be heard by the class

7. No offensive speak

o Content:

An “A” on content features the following:

1. The pitch contains the six components of a good pitch listed above.

2. Concept is easy to understand: I can “get it” on first pass. It doesn’t require a lot of “backstory” or specialized knowledge.

3. The problem is clearly stated, and the opportunity fits well with the problem.

4. You clearly identify a potential target market.

5. Investment requirements are reasonable and at first pass it appears that the business could be lucrative.

6. You have identified a potential competitive advantage that is at first pass at least reasonably sustainable.

7. You demonstrate some knowledge of the industry, especially the key drivers of the industry’s profits.

8. It appears reasonable to assume you can execute the idea.

9. Demonstrates real innovation.

• There are some limitations on the types of business that can be topics for the lifestyle venture pitches. Specifically, I am looking for ideas that are ethical, moral, and stretch you as a student. It is very easy for students to stay within their “comfort zone”, and as such, gravitate towards certain ideas. Too frequently that limits the learning value of opportunity exploration. While the following list of rejected ideas is not inclusive, it should help you tremendously. Please steer wide of them: Being the campus retailer of “volleyball shirts” is virtually identical to a t-shirt business. Pitches too closely conforming to one of these types of firms will receive an automatic 40-point reduction in grade.

o Ethics and morality:

• Businesses you select must fit with the Marianist Values and sense of mission.

• An abortion clinic would not fit, a payday loan business would not fit, sweatshops would not fit, etc.

• Alcohol related ventures

• Any venture that requires a liquor license to legally operate is unacceptable for class projects.

• Scams

• “work at home” “vending routes”, etc. are unacceptable

o Ideas that have been done too many times in the past and are not acceptable this year include:

• T-shirt business

• Bed & breakfast

• eBay-like ventures (e.g., online auction websites)

• Campus video store

• Sports complex, gym, training facility

• Housing re-hab

• Grocery delivery businesses

• Campus coupons/coupon books, etc.

• On-line retailer of student products (e.g. dorm décor, etc.)

• Auto detailing, mobile car/truck service (e.g. car wash, oil change)

• Media Business (video productions, etc.)

• Pet day care

• “Student painters”, window washers, power washing

• Ideas that are too small include:

o Lawn service businesses

o Snow removal businesses

o Convenience stores

* Note: A final note on the elevator pitches that are undertaken in class—you should not pitch an idea that you already intend to pursue in the future or one that you would not like to share with anyone at this point. Please realize that the business ideas pitched in front of the class are “fair game” and if there is anything proprietary involved with your venture idea, you should not use it for a topic in this class.

Assignment Name: Elevator Pitch (Micro-business)*

Assignment Type: Individual Assignment

Points: 60-points

Due Date: October 12, 2005, Wednesday

As you have learned, a micro-business is a type of new venture that is generally low-cost to start and the earnings are usually fairly low. Growth aspirations for micro-businesses are usually quite low and these types of firms are typically ventures that founders undertake only until something “really good’ or something that they are really passionate about comes up. These types of firms are often associated with hobbies, are more supplemental in the income that they provide, and they are generally not full-time undertakings. An example of a micro-business is the project that you undertook in your Sophomore Experience.

For this assignment, you will be required to identify an opportunity for a micro-business and to conduct a one-minute elevator pitch of that micro-business in front of the class.

Written Portion (20-points)

In addition to the one-minute, oral, elevator pitch you will also be required to submit a one-page write-up of the idea.

• I expect that this and all assignments will be typed and proper grammar (including complete sentences) will be used.

• At the top of the write-up, please be sure to include your name, the assignment due date, and the name of the assignment.

• The write-up is due at the beginning of class.

Elevator Pitch (40-points)

The elevator pitch should roughly consist of the following and you should be sure to follow the guidelines discussed in the lecture on the “art” of the elevator pitch. That is,

• The elevator pitch should be a short, simple description of your company or business idea that your grandmother could understand by the time you ride up three floors in a typical elevator.

o You have one-minute to complete your pitch. You will be stopped if you exceed one-minute.

• Remember that you are pitching what your business will do for investors and customers, so pitch how your business will solve a tangible problem that exists.

• Be sure to include the following components in your pitch:

1. The Hook- pain point or heart grabber

2. Brief description of product/service

3. Brief market description

4. Brief description of competition

5. How you are different from other solutions

6. How you will make money

• Further, I will consider the following criteria as I evaluate the elevator pitches: presentation and content:

o Presentation:

An “A” presentation features the following:

1. Excellent eye contact with the audience

2. Excellent flow, smooth throughout the entire pitch

3. Exhibits evidence of rehearsal

4. Absence of speech tics (e.g. “ummmmm”, Errrr”)

5. No nervous laughter, nor awkward body language

6. Clear speaking voice, loud enough to be heard by the class

7. No offensive speak

o Content:

An “A” on content features the following:

1. The pitch contains the six components of a good pitch listed above.

2. Concept is easy to understand: I can “get it” on first pass. It doesn’t require a lot of “backstory” or specialized knowledge.

3. The problem is clearly stated, and the opportunity fits well with the problem.

4. You clearly identify a potential target market.

5. Investment requirements are reasonable and at first pass it appears that the business could be lucrative.

6. You have identified a potential competitive advantage that is at first pass at least reasonably sustainable.

7. You demonstrate some knowledge of the industry, especially the key drivers of the industry’s profits.

8. It appears reasonable to assume you can execute the idea.

* Note: A final note on the elevator pitches that are undertaken in class—you should not pitch an idea that you already intend to pursue in the future or one that you would not like to share with anyone at this point. Please realize that the business ideas pitched in front of the class are “fair game” and if there is anything proprietary involved with your venture idea, you should not use it for a topic in this class.

Assignment Name: Elevator Pitch (Growth-oriented business)*

Assignment Type: Individual Assignment

Points: 60-points

Due Date: October 12, 2005, Wednesday

A growth-oriented business is a type of new venture characterized by its founder’s intentions to grow the firm in scale (e.g., shifting from only one site to multiple locations). Additionally, the target markets for growth-oriented businesses are generally at the national and/or international level. Further, founders of growth-oriented businesses will seek to maintain control during the growth start-up phases of venture development and this growth usually entails incurring substantial costs. Examples of firms that were started with growth as their goal include eBay, Wal-Mart, Dell Computers, and Starbuck’s.

For this assignment, you will be required to identify an opportunity for a growth-oriented business and to conduct a one-minute elevator pitch of that growth-oriented business in front of the class.

Written Portion (20-points)

In addition to the one-minute, oral, elevator pitch you will also be required to submit a one-page write-up of the idea.

• I expect that this and all assignments will be typed and proper grammar (including complete sentences) will be used.

• At the top of the write-up, please be sure to include your name, the assignment due date, and the name of the assignment.

• The write-up is due at the beginning of class.

Elevator Pitch (40-points)

The elevator pitch should roughly consist of the following and you should be sure to follow the guidelines discussed in the lecture on the “art” of the elevator pitch. That is,

• The elevator pitch should be a short, simple description of your company or business idea that your grandmother could understand by the time you ride up three floors in a typical elevator.

o You have one-minute to complete your pitch. You will be stopped if you exceed one-minute.

• Remember that you are pitching what your business will do for investors and customers, so pitch how your business will solve a tangible problem that exists.

• Be sure to include the following components in your pitch:

1. The Hook- pain point or heart grabber

2. Brief description of product/service

3. Brief market description

4. Brief description of competition

5. How you are different from other solutions

6. How you will make money

• Further, I will consider the following criteria as I evaluate the elevator pitches: presentation and content:

o Presentation:

An “A” presentation features the following:

1. Excellent eye contact with the audience

2. Excellent flow, smooth throughout the entire pitch

3. Exhibits evidence of rehearsal

4. Absence of speech tics (e.g. “ummmmm”, Errrr”)

5. No nervous laughter, nor awkward body language

6. Clear speaking voice, loud enough to be heard by the class

7. No offensive speak

o Content:

An “A” on content features the following:

1. The pitch contains the six components of a good pitch listed above.

2. Concept is easy to understand: I can “get it” on first pass. It doesn’t require a lot of “backstory” or specialized knowledge.

3. The problem is clearly stated, and the opportunity fits well with the problem.

4. You clearly identify a potential target market.

5. Investment requirements are reasonable and at first pass it appears that the business could be lucrative.

6. You have identified a potential competitive advantage that is at first pass at least reasonably sustainable.

7. You demonstrate some knowledge of the industry, especially the key drivers of the industry’s profits.

8. It appears reasonable to assume you can execute the idea.

* Note: A final note on the elevator pitches that are undertaken in class—you should not pitch an idea that you already intend to pursue in the future or one that you would not like to share with anyone at this point. Please realize that the business ideas pitched in front of the class are “fair game” and if there is anything proprietary involved with your venture idea, you should not use it for a topic in this class.

New Venture Creation: Team Assignments

Overview

At the beginning of the semester (September 13, 2006) the class will be broken up into about 5 teams consisting of approximately 5 people depending upon the class size. As the semester progresses, the team will complete a number of feasibility analysis assignments associated with the new venture opportunity that they have identified.

According to our text, feasibility analysis is the process of determining whether a business idea is viable. It is a preliminary evaluation of a business idea, conducted for the purpose of determining whether the idea is worth pursuing. It takes the guesswork out of a business launch and provides a more secure notion that a business idea is feasible or viable. Entrepreneurs often underestimate the competition or overestimate their personal chances for success.

Feasibility studies should be conducted after the opportunity recognition stage of starting a new business, and should be completed before considering writing a full business plan. If, upon completion of the feasibility study you discover that the idea is not feasible, you have two options: drop the idea, or revise it to the point that it is feasible. If indeed the business idea is revealed to be unfeasible, there is no reason to even consider writing a business plan to implement the idea.

If, during the process, it appears your business is not feasible, then look for ways to change your original ideas to make it feasible. Do more bootstrapping, get creative, be flexible. Do not just give up on a good idea without making an honest effort to make it feasible. However, your grade will not be hurt if your concept is truly not feasible, as the objective is for you to learn how to assess the feasibility of an idea.

On September 13, 2006 each student in class will conduct an, individual, one-minute elevator pitch of a lifestyle business entrepreneurial opportunity that they have identified (described in the individual assignment section of this document). After everyone in the class has completed their elevator pitch, I will select five opportunities that seem the most promising upon my initial inspection of the opportunity. Teams will then be formed around the five selected lifestyle business opportunities. Each team will complete four written feasibility analysis (or related) papers (each paper will consist of one part of a full feasibility analysis or other parts of a full business plan) and one 20-minute presentation to the class of the full feasibility analysis. Students will self-select their team members on September 13, 2006.

As a reminder, a lifestyle business is a type of new venture that is generally somewhat focused in its scope within the industry it competes and growth aspirations for the firm are generally modest. That is, founders of lifestyle businesses are not usually looking to grow their ventures to become large organizations. Another term that you may have heard for a lifestyle venture is a “small-to-medium size company,” or SME. Further, the types of firms that your book refers to as “salary-substitute firms” would fall under this category. Regardless of the growth aspirations of the founder, the entrepreneur is generally interested in starting and running the company for an indefinite amount of time (e.g., they are not looking for a liquidity event), and they generally only have one or just a few physical “office” locations. Characteristics of these types of firms include that they provide their founders with enough financial means to make a living equivalent to what they might earn in a traditional job and they sometimes allow their founders to pursue a particular lifestyle or interest (e.g., in the case of founders pursuing a particular hobby or special interest).

Note: It should be noted that although I will select the five opportunities that will be studied by the team based on the initial elevator pitch, the final form of the business and the components of the business model can and in all likelihood should evolve as the team studies the different feasibility aspects of the opportunity. Further, it is possible that after conducting the various feasibility analyses relevant to the opportunity, the team might conclude that the opportunity is not in fact feasible. Grades on the assignments will not be based on the actual feasibility of the opportunity studied and instead will be based on the comprehensiveness and correctness of the feasibility analyses conducted.

Suggestions for Conducting Research

In terms of the research that the team will conduct for the feasibility analysis papers, everyone on the team should look for information on the topics associated with each paper below. Identify the industry that encompasses your business and the consumers or industry(ies) you will be selling to. Information you are seeking includes:

▪ Industry trends, past growth rate and future growth projections, target market wants and needs.

▪ Typical products/services offered by competitors, client/customer demographic description, pricing, location, promotional methods, distribution methods, customer service reputation, quality track record, etc. Learn how your competitors operate.

▪ Sales Forecast – how much revenue you can conservatively expect to generate in your first year in business?

▪ Any other information needed to complete your feasibility report.

Suggested Approach to Research:

1. First determine your NAICS code. This will increase the efficiency of your research.

2. Locate trade/professional associations; find one for similar companies in your industry. If you are selling to other businesses, then locate a second association for the industry your clients are likely to be in. Start with the Encyclopedia of Associations, which is located both in the library (AS22 .E5) and through the library’s online resources. Contact association(s) within the first few weeks of the term to determine what information they might provide to you. Be sure to discuss the association(s) you researched and describe the pertinent information you found through them in your presentation.

3. Find magazine/journal articles or books about your type of business; photocopy the articles. Describe the articles and books you researched as well as the pertinent information that you found. Online library resources that students have found particularly helpful in the past include (great for industry and company information and overviews) and Business Source Complete database (great for articles). While these are great sources, do not limit your research to them. I put them here merely as a suggestion.

Peer Evaluations based on Team Assignments

Peer Review (Due: October 18, 2006)

Each person in class is required to complete a Peer Review form on each team member. The Peer Review is essential to provide performance feedback on team activities to each team member at the mid-point of the semester (October 18, 2006). At the end of the semester (when the team presents their feasibility study to the class), you will complete evaluations on each team member and these evaluations will influence the amount of team assignment points each individual will receive. Thus, the Peer Review is a painful but purposeful way to avoid surprises and resolve problem areas. Complete one Peer Review for each team member. Time will be provided in class to openly discuss these evaluations and for the team to provide ways to improve problem areas. The Peer Review form is posted on the next page of this document and on my website. You must complete a Peer Review on each team member or receive a ZERO (0) for all team assignments.

|Criteria |5 |4 |3 |2 |1 |

| |Superior |Very good |Average |Fair |Poor |

| |Excellent team member - I will |Solid team member – good input |It will be okay if this person is|I would prefer another team |I will never be on the same team with|

| |always want to be on a team with |and strong contributor – I would |on my team again – but not a |member – not a good fit |this person again |

|1. Value as a team member |this person |be happy to have them as a |strong team member | | |

| | |teammate | | | |

| |Very reliable, - team could |Reliable most of the time – |Attended most but not all |About ½ the time this person was |I wouldn’t recognize this person in a |

|2. Reliability as a team member |always depend on this person |rarely needed to be reminded |meetings – had to be reminded |reliable – needed to be |line-up – maybe they dropped the class|

| | |about established deadlines and |about established deadlines and |continually reminded about |and just forgot to tell our team |

| | |schedules |schedules |established deadlines and | |

| | | | |schedules | |

| |Excellent – made strong |Above average performance – made|Information provided was okay – |Information was weak at best – |Pretty sure they know what the topic |

|3. Contributions to Research |contributions to the research for|good contributions to the |some information and sources had |other members of team have had to|was – but I can’t guarantee it |

| |our papers and presentation |research for our papers and |to be verified |complete work for them or it | |

| | |presentation | |would not have gotten done | |

| | | |Missed established deadlines |Missed established deadlines | |

| |Took a major role in the |Strong contribution to team |Information provided was okay; |Content was fair at best; did not|Little to no contribution to our team |

|4. Contribution to Written Papers|completion of team written |written papers; knew information|some degree of preparedness but |appear to have prepared ahead of |written papers |

| |papers; knew information well and|well and was clearly prepared |the lack of preparation may have |time and the lack of preparation | |

| |was clearly prepared | |lowered the team’s overall grade |may have lowered the team’s | |

| | | | |overall grade | |

| |Excellent Presenter – well |Strong researcher but not a |Some degree of preparedness but |Showed up – read straight from |mmm…they showed up – do we give points|

|5. Contribution to |prepared – clearly knew |strong presenter - weaker |clearly could have been stronger |note cards and lack of |for that… |

|Presentations (Can rate based on |information and was able to share|presentation performance was |- lack of preparation may have |preparation may have lowed team’s| |

|them presenting or the |their knowledge in an effective |based on team member being |lowed team’s overall grade |overall grade | |

|contributions for the |manner with the class |uncomfortable speaking rather |Average contributor – helped to |Fair contributor – provided some | |

|presentation) |Excellent contributor – the |than a lack of preparation |prepare the presentation but not |information to integrate into the| |

| |presentation was organized |Strong contributor – helped with |consistently and the overall |slides and presentation, but what| |

| |because of this person’s efforts |the organization of the |result was not due to this |information was provided had to | |

| |(e.g., slides, handouts, |presentation but was not a clear |person’s insights or efforts |be redone or should have been | |

| |research) |leader | |redone | |

|6. Overall Rating |Superior |Very good |Average |Fair |Poor |

Peer Review Form

Based on the descriptions on the Peer Evaluation Matrix, fill in each team member’s name, numerically evaluate each team member on each competency, and assign the appropriate number of points for each competency. Do not evaluate yourself.

|Team Member Name: | | | | |

|Value: | | | | |

|Reliability: | | | | |

|Contribution to Research: | | | | |

|Contribution to Team Written | | | | |

|Papers: | | | | |

|Contribution to Feasibility | | | | |

|Presentation: | | | | |

|Overall Rating: | | | | |

|TOTAL POINTS AWARDED: | | | | |

|Comments on Performance: | | | | |

|Please explain your evaluations of | | | | |

|team members and cite specific | | | | |

|examples. Use additional paper if | | | | |

|necessary. | | | | |

| | | | | |

Peer Evaluation (Due: On the date that the team presents their feasibility study)

The Peer Evaluation is a follow up to the Peer Review. Here again, it is painful but purposeful. The Peer Evaluation is one method to ensure full team participation and cooperation on team assignments. The grade your team earns on all team assignments (Business Description and Team Documents, Feasibility papers, and Feasibility Presentation) depends on your team’s overall performance and efforts. I am aware, however, that not all team members participate actively or give their 100%. As a result, Peer Evaluations will be used to provide a basis as to how many individual team assignment points each of you will receive, based on your team’s evaluation of your efforts. Your team assignment points will reflect the percentage given to you by your team’s averaged evaluation. For example, if your team’s Peer Evaluations average to 90% (A-), then you will receive only 90% of the points your team earned on all assignments. You must also complete a Peer Evaluation on each team member, which is due when your team presents it Feasibility Study to the class. The Peer Evaluation form is on the next page of this document and on my website. You must complete one Peer Evaluation for each team member or you will receive a ZERO (0) for all team assignments.

|Criteria |5 |4 |3 |2 |1 |

| |Superior |Very good |Average |Fair |Poor |

| |Excellent team member - I will |Solid team member – good input |It will be okay if this person is|I would prefer another team |I will never be on the same team with|

| |always want to be on a team with |and strong contributor – I would |on my team again – but not a |member – not a good fit |this person again |

|1. Value as a team member |this person |be happy to have them as a |strong team member | | |

| | |teammate | | | |

| |Very reliable, - team could |Reliable most of the time – |Attended most but not all |About ½ the time this person was |I wouldn’t recognize this person in a |

|2. Reliability as a team member |always depend on this person |rarely needed to be reminded |meetings – had to be reminded |reliable – needed to be |line-up – maybe they dropped the class|

| | |about established deadlines and |about established deadlines and |continually reminded about |and just forgot to tell our team |

| | |schedules |schedules |established deadlines and | |

| | | | |schedules | |

| |Excellent – made strong |Above average performance – made|Information provided was okay – |Information was weak at best – |Pretty sure they know what the topic |

|3. Contributions to Research |contributions to the research for|good contributions to the |some information and sources had |other members of team have had to|was – but I can’t guarantee it |

| |our papers and presentation |research for our papers and |to be verified |complete work for them or it | |

| | |presentation | |would not have gotten done | |

| | | |Missed established deadlines |Missed established deadlines | |

| |Took a major role in the |Strong contribution to team |Information provided was okay; |Content was fair at best; did not|Little to no contribution to our team |

|4. Contribution to Written Papers|completion of team written |written papers; knew information|some degree of preparedness but |appear to have prepared ahead of |written papers |

| |papers; knew information well and|well and was clearly prepared |the lack of preparation may have |time and the lack of preparation | |

| |was clearly prepared | |lowered the team’s overall grade |may have lowered the team’s | |

| | | | |overall grade | |

| |Excellent Presenter – well |Strong researcher but not a |Some degree of preparedness but |Showed up – read straight from |mmm…they showed up – do we give points|

|5. Contribution to |prepared – clearly knew |strong presenter - weaker |clearly could have been stronger |note cards and lack of |for that… |

|Presentations (Can rate based on |information and was able to share|presentation performance was |- lack of preparation may have |preparation may have lowed team’s| |

|them presenting or the |their knowledge in an effective |based on team member being |lowed team’s overall grade |overall grade | |

|contributions for the |manner with the class |uncomfortable speaking rather |Average contributor – helped to |Fair contributor – provided some | |

|presentation) |Excellent contributor – the |than a lack of preparation |prepare the presentation but not |information to integrate into the| |

| |presentation was organized |Strong contributor – helped with |consistently and the overall |slides and presentation, but what| |

| |because of this person’s efforts |the organization of the |result was not due to this |information was provided had to | |

| |(e.g., slides, handouts, |presentation but was not a clear |person’s insights or efforts |be redone or should have been | |

| |research) |leader | |redone | |

|6. Overall Rating |Superior |Very good |Average |Fair |Poor |

Peer Evaluation Form

Based on the descriptions on the Peer Evaluation Matrix, fill in each team member’s name, numerically evaluate each team member on each competency, and assign the appropriate number of points for each competency. Do not evaluate yourself.

|Team Member Name: | | | | |

|Value: | | | | |

|Reliability: | | | | |

|Contribution to Research: | | | | |

|Contribution to Team Written | | | | |

|Papers: | | | | |

|Contribution to Feasibility | | | | |

|Presentation: | | | | |

|Overall Rating: | | | | |

|TOTAL POINTS AWARDED: | | | | |

|Comments on Performance: | | | | |

|Please explain your evaluations of | | | | |

|team members and cite specific | | | | |

|examples. Use additional paper if | | | | |

|necessary. | | | | |

Assignment Name: Feasibility Assignment Description of Business and Team Documents Paper

Assignment Type: Team Assignment

Points: 100-points

Due Date: September 25, 2006, Monday

I. Description of the Business: On September 25, 2006 the team is required to turn written description of the business opportunity being studied. This description is not a sales pitch but rather a substantive description of the product or service that your business opportunity offers. As such, after reading the business description I should have a good understanding about the type of business on which the team will conduct a feasibility study (product/service), what the product/service being sold is, and how the business is going to make money.

• For the purposes of this assignment, an appropriately-detailed business description will be about 2-3 pages in length, double-spaced.

II. Team Documents: In addition to turning in the description of your business opportunity, teams should provide a document that identifies the students who are a part of the team as well as their email addresses and a description of the attributes that each team member brings to the team dynamic, highlighting areas where each team member can provide unique value to studying and evolving the new venture opportunity that is under study.

Further, in an effort to establish a team identity and operating guidelines for the completion of tasks in the class, each team should complete a team contract and action plan, both of which are on the next two pages of this document and also posted on my website. I would like for teams to pay particular attention to the team contract, as this contract will serve as the basis for conflict management within the team, should the need arise as the course progresses[1].

Note on Team Documents: I urge you to take the team document preparation seriously and to enforce the agreed-upon guidelines for team conduct. This is particularly important as the percentage of team points that individual team members will earn toward their final grade in the course at the end of the semester will depend on the peer evaluations that are completed during the course. Specifically, in the middle of the semester (October 18, 2006), everyone in class must complete a Peer Review on each team member in class in order to provide performance feedback on team activities to each team member. Then, when the team presents the full feasibility study to the class at the end of the semester, each class member will complete a Peer Evaluation on each team member to determine the percentage of the team-earned points that each team member will receive.

Format

• This assignment should be typed, using Times New Roman 12-point font, and double spaced.

• Please proof-read your work and be sure to demonstrate exceptional writing skills.

• Staple all documents together in the upper left corner. Please do not use binders or plastic covers for this or any assignment in this course.

• Include a cover sheet that indicates the assignment name, the team name, the team members’ names, and the due date of the assignment.

Team Action Plan: New Venture Creation

The following delineates an action plan established by our team to meet or exceed the schedule requirements as provided by course requirements. Our goal is to prepare in written format the documentation, which supports the development and perpetuation of a successful business venture. The established plans may require modification at a later date in order to maximize efficiencies as the elements of the project are properly assembled.

Team:______________________Members:__________________________________________________________________________________

|Task or |Person |Specific |Due |Completed |(X) |

|Action |(Initials) |Comments |Date |Comments | |

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Team Discussion Questions for Team Contract Preparation

New Venture Creation

Discussion Items

1. What worries you most or is your biggest concern about working on this team?

2. How would this team function if everything goes just as you hope?

3. What would this team be like if everything goes wrong?

4. What action do you think must be taken to ensure the positive outcomes you want?

Operating Guidelines

1. How will we make decisions?

2. What will be our basic method for work?

3. How do we make sure that everyone gets a chance to discuss issues or raise concerns?

4. How will we resolve differences?

5. How will we ensure the completion of work?

6. How will we change things that are not producing results?

Team Contract

Create Your Team Contract using the form on the next page of this document. Decide on the following issues:

1. Team Name

2. Team Motto

3. Team Goals

4. Behavioral Expectations (Norms)

5. Team Code of Ethics

6. Conflict Management - how will team resolve differences?

7. Then have all members of your team sign your team contract.

Team Contract: New Venture Creation

Team Name:

Team Members’ Names:

Team Motto:

Team Goals: Must be Specific, Measurable, Attainable, Realistic, and Time-bounded (SMART)

1.

2.

3.

Behavior Norms: Define what the following traits mean for your team.

• Reliable:

• Good fit with the team:

• Good team member:

• Good contributor:

Corrective Action: What action(s) will be taken when a member or members of the team break this contract or fail to display team member norms outlined above?

Team Member Signatures:

Assignment Name: Product/Service Feasibility Analysis Paper

Assignment Type: Team Assignment

Points: 100-points

Due Date: October 11, 2006, Wednesday

Purpose

The purpose of this assignment and of conducting product/service feasibility analyses is to provide an assessment of the overall appeal of the product or service being proposed. This is an important part of the new venture creation and opportunity evaluation process because before rushing a product/service to market, you must be certain that it is what customers want and that there is an adequate market to make your efforts profitable. In order to evaluate these attributes of the business opportunity under study, teams will use tools and evaluations methods such as concept testing, usability testing, market assessment and product/service usefulness.

After studying the aspects of the product/service feasibility relevant to the opportunity being evaluated, teams should write a paper describing what tests were conducted, any market research or surveys conducted, etc., and include the results of the product/service feasibility analysis. Specific descriptions of the sections of the product/service feasibility analysis paper follow.

Concept Testing

Test your concept to validate the underlying premises behind your product/service by asking prospective customers and key industry participants what they think of your product or service. Use surveys, interviews, focus groups, or simply watch people perform tasks relevant to your product or service. Include a copy of your questionnaire or survey questions, and well as your tabulated results, in the appendices of this paper.

For example suppose your business was manufacturing and selling automatic automobile tinting—a product similar to transitions eyeglasses, but for automobiles. For the concept test, the team could identify and survey potential customers such as automobile dealerships or detail shops and even patrons of these establishments in order to determine the market response to such a product.

Note that the Concept Test is NOT the same as the Usability Test! Demonstrate that you understand the difference.

Prepare and present a Concept Statement for your venture as though it is feasible, even if you think it is not (see an example of a concept statement on my the website). Describe how you would use the Concept Statement, who you would show it to, and what you would hope to learn.

Usability Testing

Set up a usability test for your product/service. What features of your product or service make it easy or difficult to use? How would potential customers use your product or service? Describe your prototype, and who you asked to participate in the usability test, and what you hoped to learn. Once the usability test has been completed, what changes must you make to the product/service to increase its usefulness? Include a copy of your questionnaire or survey questions, as well as your tabulated results, in the appendices of this paper.

I realize that you may not be able to conduct an actual, physical, usability test of your product/service and as such you should describe the steps you would use to conduct an actual usability test as well as the likely results of this test were it actually conducted.

Marketability:

How does your product or service (1) solve a problem, (2) make someone’s life or business more efficient, or (3) make someone’s life or business more effective? Explain your answer by citing your sources (e.g., industry information that you have gathered, customer feedback that you have gathered, etc.).

Target Customer Profile:

Who will MOST LIKELY use your products or services? More specifically, exactly who will your customers (or target market) be? Do market research to insure you fully understand the demographic and psychographic profile of your target customer. Cite your sources.

Product/Service Usefulness:

How, exactly, will your customers use your product or service? Provide an example of a potential customer, and describe exactly how he or she would use the product or service, and what benefits it would provide. Include an estimate of your potential market demand?

Intellectual Property:

Is your product or service protected by intellectual property rights? Do you have any patents and trademarks? ()

First Mover Advantages:

Do you have a first-mover advantage? If so, explain what, if any, advantage that provides you. If you don’t have a first mover advantage, will that hurt you? Explain your answer.

Format

• This assignment should be typed, using Times New Roman 12-point font, and double spaced.

• Please proof-read your work and be sure to demonstrate exceptional writing skills.

• Staple all documents together in the upper left corner. Please do not use binders or plastic covers for this or any assignment in this course.

• Include a cover sheet that indicates the assignment name, the team name, the proposed company name, team members’ names, and the due date of the assignment.

• Be sure to include a bibliography of the sources that you used for research purposes and cite these within your text. Failure to use in-text citations will result in an automatic 20-points reduction in grade. Assignments not including a bibliography section at the end of the document will not be graded and will be awarded zero-points.

• Late submissions of documents will not be accepted and a zero will be given for the assignment.

Assignment Name: Industry/Market Feasibility and Competitive Environment Analysis Paper

Assignment Type: Team Assignment

Points: 100-points

Due Date: October 25, 2006 Wednesday

Purpose

The purpose of this assignment and of conducting industry/market and competitive environment feasibility analyses is to provide an assessment of the overall appeal of the market for the product or service being proposed. This is an important part of the new venture creation and opportunity evaluation process because if the market or competitive environment will not support the new venture then the venture will likely fail.

After studying the aspects of the industry/market and competitive environment feasibility relevant to the opportunity being evaluated, teams should write a paper describing the industry’s attractiveness, the attractiveness of the competitive environment, the timeliness of the introduction of the venture, and whether the venture is capitalizing on a niche market as they enter the competitive landscape. Specific descriptions of the sections of the industry/market and competitive environment feasibility analysis paper follow.

Industry Attractiveness

Describe the industry in which your startup will participate. Base this on your research – not on your personal opinion; cite your sources.

• Conduct a Porter’s Five Forces analyses to evaluate the attractiveness of the industry. Based on this analysis, how attractive is the industry?

• What stage of the life cycle is the industry in?

o Describe any primary or secondary research you engaged in to reach your conclusions.

Competitive Environment

• How many companies compete in the industry?

• Are sales generally increasing or decreasing for companies in this industry?

• Do first-move advantages exist for existing firms?

• What attributes of your firm distinguish it from other firms competing within the industry?

• Does a sustainable competitive advantage exist for your firm or another firm(s) within the industry? Conduct a VRIO (e.g., do other possess a position that is valuable, rare, inimitable, and the organization of these attributes are being used well) analysis to determine this. See handout on my website to help you with the VRIO analysis.

• What trends do you see occurring in this industry?

Market Timeliness

Describe how timely the introduction of your product or service is. Using a scale from 1 to 5 with 5 being the timeliest, evaluate the market timeliness of the business opportunity. Justify your conclusion. Is your product/service an improvement to an existing product/service, or something completely new? Is the current state of the economy helping or hindering you? Base your responses on your research – not on your personal opinions. Cite your sources.

Identification of a Niche Market

Describe the niche market (or markets) in which your startup will participate. Explain why this particular market (or markets) is suitable for your startup. Describe the major challenges of competing in this market (or markets). How do you differ from your competitors that make this a niche for you? If applicable, use Porter’s Value Chain to justify your answer. Cite your sources.

Format

• This assignment should be typed, using Times New Roman 12-point font, and double spaced.

• Please proof-read your work and be sure to demonstrate exceptional writing skills.

• Staple all documents together in the upper left corner. Please do not use binders or plastic covers for this or any assignment in this course.

• Include a cover sheet that indicates the assignment name, the team name, the proposed company name, team members’ names, and the due date of the assignment.

• Be sure to include a bibliography of the sources that you used for research purposes and cite these within your text. Failure to use in-text citations will result in an automatic 20-points reduction in grade. Assignments not including a bibliography section at the end of the document will not be graded and will be awarded zero-points.

• Late submissions of documents will not be accepted and a zero will be given to the assignment.

Assignment Name: Organizational Feasibility Analysis Paper

Assignment Type: Team Assignment

Points: 100-points

Due Date: November 13, 2006, Monday

Purpose

The purpose of this assignment and of conducting organizational feasibility analyses is to determine if your business idea has sufficient management expertise, organizational competency, and resources necessary for success. This is an important part of the new venture creation and opportunity evaluation process because if the venture does not or cannot acquire the organizational requirements necessary to make the venture successful, then the venture will likely fail.

After studying the aspects of the organizational feasibility relevant to the opportunity being evaluated, teams should write a paper describing the adequacy of the start-up management team, potential human resource (HR) needs that will need to be addressed in the future, the non-financial resources that the venture will require for success, and the geographic location for the firm’s headquarters (e.g., where you propose to found the firm). Specific descriptions of the sections of the organizational feasibility analysis paper follow.

Management Prowess

Describe your startup’s founding management team (be sure to be as inclusive as possible). Describe the qualifications of each of the key members of the team. How are you uniquely qualified to make this business a success? What evidence can you provide, if any, that the founders of your firm and/or its current management team are passionate about its business idea? If your qualifications are lacking, what must you do to improve your abilities?

Future HR Needs

As your firm grows, describe two or three additional members that should be added to the team (I don’t need the name of a person – just the profile of the type of person that you’d want). Describe the unique contribution each of these individuals could bring to the team.

Resource Sufficiency (non-financial)

Describe the non-financial resources (e.g., know-how, firm clusters, intellectual property, management team/founder reputation, etc.) that are most important for your firm to properly execute its business plan. Make a list of the most critical resources, and comment on the extent to which your firm has sufficient resources in these areas. If there are any significant resource gaps, suggest ways that these gaps could be closed.

Location:

Describe the geographical location of your firm’s headquarters, and its major production facility. To what extent is your firm near a “cluster” of similar firms? In your firm’s particular case, how important is it to be near a cluster of similar firms?

Format

• This assignment should be typed, using Times New Roman 12-point font, and double spaced.

• Please proof-read your work and be sure to demonstrate exceptional writing skills.

• Staple all documents together in the upper left corner. Please do not use binders or plastic covers for this or any assignment in this course.

• Include a cover sheet that indicates the assignment name, the team name, the proposed company name, team members’ names, and the due date of the assignment.

• Be sure to include a bibliography of the sources that you used for research purposes and cite these within your text. Failure to use in-text citations will result in an automatic 20-points reduction in grade. Assignments not including a bibliography section at the end of the document will not be graded and will be awarded zero-points.

• Late submissions of documents will not be accepted and a zero will be given to the assignment.

Assignment Name: Feasibility Analysis Presentation

Assignment Type: Team Assignment

Points: 100-points

Due Date: November 27, 2006 (Teams 1 and 2), November 29, 2006 (Teams 3 and 4), December 4, 2006 (Team 5)

Purpose

Based on the four team written papers turned in throughout the semester, teams will work together and prepare a 20-minute formal presentation of the feasibility of the business. In addition to the 20-minute presentation, teams must turn in a copy of their PowerPoint slides (printed 3-slides per page) and an executive summary of all of the feasibility analyses conducted during the semester (the executive summary should be no longer than 1-page, Times New Roman 12-point font, single spaced).

Basic Attributes of Your Presentation

The best presentations are the result of a lot of research. There is a direct correlation between research and grades. Thus, the more research and thought that you put into your feasibility papers written throughout the semester, the better your team presentation is likely to be as well. To earn the highest grade possible, your presentation should demonstrate these basic attributes:

• Creative and innovative ideas

• Thorough, practical, and realistic

• Strategic and tactical, and a guide on which to base decisions

• Discussed in plain English, and demonstrates understanding that clarifies and distills the problems the business will solve

• Tied to your company’s mission and business objectives, strategies and tactics

Content and Format

• Prepare PowerPoint slides as they correspond to the feasibility papers completed throughout the semester.

• Teams should begin their presentations with a 1-3 minute introduction that essentially consists of a discussion of your business description and executive summary.

• Regarding the other content of the presentation, while I do not want to hinder your creativity by insisting that you conform to a specific presentation flow, format, and style, I have found in the past that the best presentations organize the content of the presentation via feasibility topic (e.g., product/service feasibility, industry/market and competitive environment feasibility, and organizational feasibility) and they simply present the sub-topics relevant to those components in pretty much the same order as in the written portions of the analyses.

• As you present each topic do not forget to discuss any primary or secondary research that you have used to come to your conclusions. Do not forget to discuss any surveys, focus groups, or observations that the team has conducted over the semester.

• At the end of the presentation, I would like the team to reach a final conclusion as to the ultimate feasibility of the business opportunity. Be sure to synthesize what you have learned through studying each of the individual feasibility analyses to reach a final conclusion. Again, remember that you are not being evaluated on whether the opportunity is or is not actually feasible. So, if the team determines that the opportunity is not feasible, this is a fine conclusion so long as it is justified appropriately.

• As this is a formal business presentation, I expect that all team members will be dressed in appropriate business attire for the presentation.

Documents that must be turned in the day of the presentation

1. Coversheet listing the team name, the proposed company name, the names of the team members, assignment name, and the due date of the assignment.

2. Executive summary of the entire feasibility project (one-page maximum, Times New Roman 12-point font, single spaced). Be sure to include in the executive summary the team’s overall conclusion as to the feasibility of the business opportunity based on the feasibility analyses conducted throughout the semester.

3. PowerPoint slides, printed 3-slides per page only printed on one side of the paper

a) Be sure to include a bibliography of the sources that you used for research purposes.

b) Late presentations and/or presentation document submissions will not be accepted and a zero will be given for the assignment.

c) Use a heavy duty staple in the upper left corner for your slides and executive summary. Do not put your documents in a folder or binder, and do not paper clip it together.

Cautions!

• Your presentation is not an advertisement for your business. It is an objective report on a business idea, so refrain from using language that tries to sell your product or service.

• The presentation is to be no more than 20-minutes. Teams will be given between 15- and 20-minutes to present. Teams will be stopped at 20-minutes and any material not covered will be assigned a zero grade. Teams whose presentations are less than 15-minutes will lose 50-points as this material cannot be sufficiently covered in less than 15-minutes.

• Make sure that you use proper grammar and that all written documents and slides are prepared using proper writing skills. Proofread your documents to so that there are no problems with your writing skills and/or typos.

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[1] Note that as the instructor of this course, should the need arise, I reserve the right to determine the final resolution to team conflicts.

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Your Name:_____________________________

Team Name:_____________________________

Your Name:_____________________________

Team Name:_____________________________

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