Management Fundamentals 7th Edition by Robert N. Lussier

Exercise 44

Objective

To develop a simple business plan idea.

Skills

The primary skills developed through this exercise are:

1. Management skill – decision making

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2. AACSB competency – analytic

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3. Management function – planning

Select Your New Venture

Would you like to be your own boss? Have you given any thought to running your own business someday? For this exercise you will think of a new venture you would like to start someday. The new venture can be entrepreneurial, if you are interested in running your own business, or intrapreneurial, if you want to start a new line of business for an existing company. With either approach, don’t be concerned about financing the business. At this stage, you are only selecting a new venture. If you select intrapreneurship, you don’t have to be working for the organization for which you would like to start a new venture. Provide information about your potential business in the following list. Give all of the topics some thought before writing down your final answers.

Company name (or line of business)

Products (goods and/or services)

Target market (potential customer profile)

Major competitors

Competitive advantage (Will you have a first-mover advantage?)

Possible location of business (home, mall, downtown, near college/business/customers/suppliers, etc.)

Apply It

What did I learn from this skill-building experience? How will I use this knowledge in the future?

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Your instructor may ask you to do this Skill Builder in class in a group. If so, the instructor will provide you with any necessary information or additional instructions.

Step 1 of 2

Company name: Davis paper trading company

Products: Paper

Target market: Students and retailers of paper registers

Major competitors: Paper suppliers

Competitive advantage: Yes, I will enjoy a first mover advantage.

Possible location of business: Near college or near customers.