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Assignment 2: New Venture – Launch Plan Format: Paper Due: Week 6, Day 7 (Weight: 25\%) OVERVIEW In this assignment, you will continue your research and planning to design and implement a new product or service. Based on the innovative “big idea” and the vision that you developed in Assignment 1, you will now write a Launch Plan, in which you describe your launch strategy, business model, and financial plan. INSTRUCTIONS Write a Launch Plan Paper of no fewer than 4 pages. In this second assignment, you will complete the middle four sections of your Business Plan: Sections V, VI, VII and VIII in the template. You will follow ONE of the three Options below, depending whether you are planning your new venture as an Intrapreneur, Entrepreneur, or Nonprofit Leader. Make sure you work with the template that matches your chosen Option   Option A – INTRAPRENEUR NEW CONCEPT LAUNCH STRATEGY o What are the key objectives in this intrapreneurial proposal? o What strategies would be used to meet those objectives? o In what time frame would these objectives be met? IMPACT ON THE BUSINESS MODEL o Does the new product or service line fit within the current company’s mission, vision, and values? If not, does the mission, vision, or values need changing? o How complementary is the new product or service line to the existing products or services of your company? What does the new line add that will benefit existing customers? How could it attract the interest of potential new customers? o What licensing or regulations will you need to be aware of to operate your new product or service line?    Resources for Assignment 2:  Basic ProForma Spreadsheet SCORE Projections Template Assumptionator   Simple Service Budget Form   Nonprofit Budget Form 3-21   Upcoming: Assignment 3 Instructions: New Venture - Final Business Plan   (Due by Sunday, midnight of your time zone in Week 9)   Resources for Assignment 3:     Resources for Assignment 3:  The Four Ps of Marketing Nonprofit Marketing Plan Example JWI 575: New Business Ventures and Entrepreneurship Academic Submissions and Evaluation © Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University. This course guide is subject to change based on the needs of the class. JWI 575 – Assignment 2 (1208) Page 1 of 7 Assignment 2: New Venture – Launch Plan Format: Paper Due: Week 6, Day 7 (Weight: 25\%) OVERVIEW In this assignment, you will continue your research and planning to design and implement a new product or service. Based on the innovative “big idea” and the vision that you developed in Assignment 1, you will now write a Launch Plan, in which you describe your launch strategy, business model, and financial plan. INSTRUCTIONS Write a Launch Plan Paper of no fewer than 4 pages. In this second assignment, you will complete the middle four sections of your Business Plan: Sections V, VI, VII and VIII in the template. You will follow ONE of the three Options below, depending whether you are planning your new venture as an Intrapreneur, Entrepreneur, or Nonprofit Leader. Make sure you work with the template that matches your chosen Option. Option A – INTRAPRENEUR NEW CONCEPT LAUNCH STRATEGY o What are the key objectives in this intrapreneurial proposal? o What strategies would be used to meet those objectives? o In what time frame would these objectives be met? IMPACT ON THE BUSINESS MODEL o Does the new product or service line fit within the current company’s mission, vision, and values? If not, does the mission, vision, or values need changing? o How complementary is the new product or service line to the existing products or services of your company? What does the new line add that will benefit existing customers? How could it attract the interest of potential new customers? o What licensing or regulations will you need to be aware of to operate your new product or service line? JWI 575: New Business Ventures and Entrepreneurship Academic Submissions and Evaluation © Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University. This course guide is subject to change based on the needs of the class. JWI 575 – Assignment 2 (1208) Page 2 of 7 REVENUE STREAMS Represents the cash a company generates from each Customer Segment (costs must be subtracted from revenues to create earnings). o For what do customers currently pay? (i.e., what are they buying from your competition?) o How are customers currently paying? (i.e., subscriptions, contracts, cash) o What are your revenue streams? (products, services, subscriptions) § How much does each Revenue Stream contribute to overall revenues? (these will be the numbers that go into your income statement) FINANCIAL STRUCTURE and COSTS o Summary Income Statement: create a profit and loss statement summary by year and project the profit and loss data out three years. Use one of the ProForma Spreadsheets in your Assignment 2 Resources. o Provide a narrative describing the numbers in the Summary Income Statement and explain why the numbers are valid. o Assuming the new product or service line is launched as part of the existing organization, can it be funded with existing capital? If not, what are the proposed source(s) of funding? o If the decision was to create a new subsidiary (or joint venture), will funding come from the existing organization (or, if a joint venture, from existing organizations)? If not, what are the proposed sources of funding? * * * * * * * * * * * * * * * * * * * * Option B – ENTREPRENEUR NEW BUSINESS LAUNCH STRATEGY o What objectives will you achieve if you get your funding? o What strategies would be used to meet those objectives? o In what time frame would these objectives be met? JWI 575: New Business Ventures and Entrepreneurship Academic Submissions and Evaluation © Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University. This course guide is subject to change based on the needs of the class. JWI 575 – Assignment 2 (1208) Page 3 of 7 BUSINESS MODEL o What legal structure will be used for this business and why? Use the source below to learn about your different business structure options: Research Source: https://www.sba.gov/business-guide/launch-your- business/choose-business-structure) o What licensing or regulations will you need to be aware of to operate your new business? o What are the key activities needed to launch this business? o What are the key resources and distribution channels – i.e., how will your customers access your product/service? REVENUE STREAMS Represents the cash a company generates from each Customer Segment (costs must be subtracted from revenues to create earnings). o For what do customers currently pay? (i.e., what are they buying from your competition?) o How are customers currently paying? (i.e., subscriptions, contracts, cash) o What are your revenue streams? (products, services, subscriptions) § How much does each Revenue Stream contribute to overall revenues? (these will be the numbers that go into your income statement) FINANCIAL STRUCTURE and COSTS o Summary Income Statement: provide a profit and loss statement summary by year and project the profit and loss data out three years. Use one of the ProForma Spreadsheets or the SCORE Projections Template in your Assignment 2 Resources. o Provide a narrative describing the numbers in your Summary Income Statement and explain why the numbers are valid. * * * * * * * * * * * * * * * * * * * * JWI 575: New Business Ventures and Entrepreneurship Academic Submissions and Evaluation © Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University. This course guide is subject to change based on the needs of the class. JWI 575 – Assignment 2 (1208) Page 4 of 7 Option C – NONPROFIT NONPROFIT LAUNCH STRATEGY o What are the key objectives in this nonprofit proposal? o What strategies would be used to meet those objectives? o In what time frame would these objectives be met? ORGANIZATIONAL STRUCTURE o What type or category of nonprofit organization do you plan to create? Research Source: https://www.usa.gov/start-nonprofit o What are the key activities needed to launch this organization? o How will you identify the best targets for your initial outreach and projects? o What licensing or regulations will you need to be aware of to operate your nonprofit? OPERATIONAL STRATEGY An operational plan describes how your nonprofit organization plans to deliver its community- focused activities. o How will you plan to manage and maintain your operations? o What metrics will you use to evaluate the impact of your programs? o What partners will you need to operate the nonprofit? FINANCIAL and FUNDRAISING PLAN o In fundraising, how will you achieve the levels of funding required to successfully carry out your mission or meet the objectives of a specific project? o If you exceed your fundraising goals, what will be done with the surplus? o What will you do if you don’t meet your fundraising goals? o How much would be an appropriate amount to cover payroll and administrative costs over time? o Create a spreadsheet to account for your funding needs. Use the Nonprofit Budget Template in your Assignment 2 Resources. Three years of projections are required. o Include a narrative explaining the numbers in the Nonprofit Budget spreadsheet (e.g., How much would be an appropriate amount to cover payroll and administrative costs over time?) JWI 575: New Business Ventures and Entrepreneurship Academic Submissions and Evaluation © Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University. This course guide is subject to change based on the needs of the class. JWI 575 – Assignment 2 (1208) Page 5 of 7 FORMATTING § Typed, double-spaced, using Ariel or Times New Roman font (size 11 or 12) with one- inch margins on all sides; references must follow JWMI Writing Standards format. Check with your professor for any additional instructions. § Your Summary Income Statement or Nonprofit Budget spreadsheet 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. Note: The Cover page, References page, and Appendix (if used) are not included in the required page length. JWI 575: New Business Ventures and Entrepreneurship Academic Submissions and Evaluation © Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University. This course guide is subject to change based on the needs of the class. JWI 575 – Assignment 2 (1208) Page 6 of 7 Rubric: Assignment 2: New Venture – Launch Plan CRITERIA Unsatisfactory Low Pass Pass High Pass Honors 1. Describe the new venture’s launch strategy, including key objectives, strategy, and time frame. Weight: 20\% Did not submit or incompletely described the new venture’s launch strategy. Partially described the described the new venture’s launch strategy. Satisfactorily described the new venture’s launch strategy. Thoroughly described the new venture’s launch strategy. Exemplarily described the new venture’s launch strategy. Excellent detail covering all required elements. 2. Describe in detail the Impact on the Business Model (Option A) or Business Model (Option B) or Organizational Structure (Option C). Respond to all prompts for your Option. Weight 20\% Did not describe or incompletely described the indicated item and did not respond to all prompts. Partially described the indicated item and responded to some of the prompts. Satisfactorily described the indicated item and responded to all prompts. Thoroughly described the indicated item and responded to all prompts. Good detail covering all required elements. Exemplarily described the indicated item and responded to all prompts. Excellent detail covering all required elements. 3. Describe in detail the Revenue Streams (A or B) or Operational Strategy (C). Respond to all prompts for your Option. Weight: 20\% Did not describe or incompletely described the indicated item and did not respond to all prompts. Partially described the indicated item and responded to some of the prompts. Satisfactorily described the indicated item and responded to all prompts. Thoroughly described the indicated item and responded to all prompts. Good detail covering all required elements. Exemplarily described the indicated item and responded to all prompts. Excellent detail covering all required elements. JWI 575: New Business Ventures and Entrepreneurship Academic Submissions and Evaluation © Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University. This course guide is subject to change based on the needs of the class. JWI 575 – Assignment 2 (1208) Page 7 of 7 CRITERIA Unsatisfactory Low Pass Pass High Pass Honors 4. Describe in detail the Financial Structure and Costs (A or B) or the Financial and Fundraising Plan (C). Respond to all prompts for your Option and provide a Summary Income Statement (A or B) or Budget spreadsheet (C). Weight: 30\% Did not describe or incompletely described the indicated item and did not respond to all prompts. Did not provide an adequate Summary Income Statement (A or B) or Budget spreadsheet (C). Partially described the indicated item and responded to some of the prompts. Provided a partial Summary Income Statement (A or B) or Budget spreadsheet (C). Satisfactorily described the indicated item and responded to all prompts. Provided a satisfactory Summary Income Statement (A or B) or Budget spreadsheet (C). Thoroughly described the indicated item and responded to all prompts. Provided a good, thorough Summary Income Statement (A or B) or Budget spreadsheet (C). Exemplarily described the indicated item and responded to all prompts. Provided an excellent Summary Income Statement (A or B) or Budget spreadsheet (C). 5. Clarity, logic, and writing mechanics. Weight: 10\% Multiple mechanical errors. Much of the content is difficult to understand. Fails to follow The formatting instructions. The text does not flow well. Several mechanical errors. Parts of the text are difficult to understand. The text does not flow well. Writer fails to justify his or her conclusions and assertions. More than a few mechanical errors. Text flows well but lacks conciseness or clarity. Assertions and conclusions are generally justified and explained. Few mechanical errors. Text flows well. Writing concisely and clearly expresses the writer’s ideas. Topics are rationally and logically developed. No mechanical errors. Text Flows very well. Writing concisely and clearly expresses the writer’s ideas. Topics are developed in an excellent and coherent way. JWI 575: New Business Ventures and Entrepreneurship Academic Submissions and Evaluation © Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University. This course guide is subject to change based on the needs of the class. JWI 575 – Assignment 1 (1208) Page 1 of 7 Assignment 1: New Venture - Game Plan Format: Paper Due: Week 3, Day 7 (Weight: 20\%) OVERVIEW Throughout this course you will develop a plan to design and implement a new product or service. You have three options, depending 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 write a Game Plan paper, in which you describe your innovative “big idea”, craft your vision for its implementation, and assess the idea’s strengths and weaknesses, as well as the major opportunities and threats in the market. Your paper will be 3 to 4 pages long. NOTE: When writing a business plan, avoid the use of first person; use the name of the company instead. JWI 575: New Business Ventures and Entrepreneurship Academic Submissions and Evaluation © Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University. This course guide is subject to change based on the needs of the class. JWI 575 – Assignment 1 (1208) Page 2 of 7 For this first assignment, you will complete Sections II, III, and IV of your Business Plan. These are the sections in the template titled: Company Description, New Product or Service Idea, and SWOT Analysis. Follow 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 Describe your new Initiative or Subsidiary for the existing company, including an identifier (or name) for your idea and where it fits into the company structure. o Provide an Organizational Chart that shows the positions that will need to be filled. Use the Organizational Chart template in your Assignment 1 Resources. o What is the mission for your new initiative? How does the new initiative/subsidiary align with the existing company? 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 Provide a detailed explanation of each SWOT quadrant. * * * * * * * * * * * * * * * * * * * * JWI 575: New Business Ventures and Entrepreneurship Academic Submissions and Evaluation © Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University. This course guide is subject to change based on the needs of the class. JWI 575 – Assignment 1 (1208) Page 3 of 7 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? o How many staff will you need? Provide an Organizational Chart that shows the positions that will need to be filled. Use the Organizational Chart template in your Assignment 1 Resources. o How fast do you plan to grow? o Where is your company based? Where does it or where will it do business? 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 Provide a detailed explanation of each SWOT quadrant. * * * * * * * * * * * * * * * * * * * * JWI 575: New Business Ventures and Entrepreneurship Academic Submissions and Evaluation © Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University. This course guide is subject to change based on the needs of the class. JWI 575 – Assignment 1 (1208) Page 4 of 7 Option C – NONPROFIT ORGANIZATION DESCRIPTION Briefly describe the Nonprofit Organization that you propose to create: o Where will your nonprofit be set up? o Include 501c3 status. Use the source below to learn more about 501c3 status: Research Source: https://smallbusiness.chron.com/501c3-corporation- 64124.html o What is the mission? o What is the vision? o How many staff will you need? o Provide an Organizational Chart that shows the positions that will need to be filled. Use the NPO Organizational Chart template in your Assignment 1 Resources. o How fast do you plan to grow? 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 benefit from your service? o What communities will your nonprofit organization serve? o What is the value proposition – i.e., why would someone support your organizational mission? Include key resources and key activities. Use the source below to learn about creating a nonprofit value proposition: Research Sources: https://prosper-strategies.com/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 Provide a detailed explanation of each SWOT quadrant. JWI 575: New Business Ventures and Entrepreneurship Academic Submissions and Evaluation © Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University. This course guide is subject to change based on the needs of the class. JWI 575 – Assignment 1 (1208) Page 5 of 7 FORMATTING § Typed, double-spaced, using Ariel or Times New Roman font (size 11 or 12) with one- inch margins on all sides; references must follow JWMI Writing Standards format. Check with your professor for any additional instructions. § 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. Note: The Cover page, References page, and Appendix (if used) are not included in the required page length. JWI 575: New Business Ventures and Entrepreneurship Academic Submissions and Evaluation © Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University. This course guide is subject to change based on the needs of the class. JWI 575 – Assignment 1 (1208) Page 6 of 7 Rubric: Assignment 1: New Venture – Game Plan CRITERIA Unsatisfactory Low Pass Pass High Pass Honors 1. Briefly describe your Company, including its size, mission, and location. Provide an Organizational Chart to show the positions that will need to be filled. Weight: 30\% Did not submit or incompletely described the company basics, including size, mission, and location. Incomplete or missing Organizational Chart. Partially described the company basics, including size, mission, and location. Student provided a partial Organizational Chart. Satisfactorily described the company basics, including size, mission, and location. Student provided a satisfactory Organizational Chart. Thoroughly described the company basics, including size, mission, and location. Student provided a good, clear Organizational Chart. Exemplarily described the company basics, including size, mission, and location. Student provided an excellent Organizational Chart. 2. Describe your new Product or Service Idea. Include how it satisfies customer or community needs. Present your Value Proposition for the new product or service. Weight 30\% Did not submit or incompletely described the new product or service idea, and how it satisfies customer or community needs. Incomplete or missing explanation of the Value Proposition. Partially described the new product or service idea, and how it satisfies customer or community needs. Partial explanation of the Value Proposition. Satisfactorily described the new product or service idea, and how it satisfies customer or community needs. Satisfactory explanation of the Value Proposition. Thoroughly described the new product or service idea, and how it satisfies customer or community needs. Clear explanation of the Value Proposition. Exemplarily described the new product or service Idea, and how it satisfies customer or community needs. Excellent and detailed explanation of the Value Proposition. 3. Explain the Strengths, Weaknesses, Opportunities, and Threats that affect your Business Plan. Provide a SWOT Analysis visual, using the model provided. Weight: 30\% Did not submit or incompletely described the Strengths, Weaknesses, Opportunities, and Threats. Did not provide an adequate SWOT Analysis visual. Partially described the Strengths, Weaknesses, Opportunities, and Threats. Provided a partial SWOT Analysis visual. Satisfactorily described the Strengths, Weaknesses, Opportunities, and Threats. Provided a satisfactory SWOT Analysis visual. Thoroughly described the Strengths, Weaknesses, Opportunities, and Threats. Provided a very good SWOT Analysis visual. Exemplary description of the Strengths, Weaknesses, Opportunities, and Threats. Provided an excellent SWOT Analysis visual. JWI 575: New Business Ventures and Entrepreneurship Academic Submissions and Evaluation © Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University. This course guide is subject to change based on the needs of the class. JWI 575 – Assignment 1 (1208) Page 7 of 7 CRITERIA Unsatisfactory Low Pass Pass High Pass Honors 4. Clarity, logic, and writing mechanics. Weight: 10\% Multiple mechanical errors. Much of the content is difficult to understand. Fails to follow the formatting instructions. The text does not flow well. Several mechanical errors. Parts of the text are difficult to understand. The text does not flow well. Writer fails to justify his or her conclusions and assertions. More than a few mechanical errors. Text flows well but lacks conciseness or clarity. Assertions and conclusions are generally justified and explained. Few mechanical errors. Text flows well. Writing concisely and clearly expresses the writer’s ideas. Topics are rationally and logically developed. No mechanical errors. Text Flows very well. Writing concisely and clearly expresses the writer’s ideas. Topics are developed in an excellent and coherent way.