MagistrateTurkeyPerson888
BUSI1033 – Group Project Information Sheet: 25 marks …
BUSI1033 – Group Project Information Sheet: 25 marks
Objectives
Students will demonstrate that they are able to:
describe the current business environment in Canada and apply this knowledge to new business registration process(es);
select the appropriate form of business organization;
identify current market conditions and make appropriate decisions for the success of the business accordingly;
identify various sources of funding available to new businesses in Canada and how these funding sources can be accessed; and
make ethical decisions regarding managing a business’s operations and people.
Project Overview
In this project, students will be simulating starting up a Canadian, private sector business. The company should have at least 50 employees and two levels of management (including senior management).
The project has several parts and submissions, each of which speaks to one or more concepts studied throughout the course. Readings and lectures throughout the course will cover key aspects of group decision making, and so it is important that everyone participate in order to take best advantage of the knowledge gained each week. As soon as students are assigned to their groups, they should meet up regularly to discuss the reports and scenarios.
Project INSTRUCTIONS
In Unit 1, you will be assigned to a group of 2-3 students.
Coordinate with your group members to visit and carefully review the following blog/articles:
https://www.shopify.ca/blog/low-investment-business-ideas
https://www.entrepreneur.com/article/292277
https://www.entrepreneur.com/article/201588
Discuss with the group and choose any one idea from these sites that your group would like to pursue.
If you like, you can brainstorm your own idea as well. Just seek permission from your professor before getting started.
Group Project: Introduction and LTA: By the end of Unit 3, your group must identify the business type to the professor and produce and submit a Learning Team Agreement (LTA)
Group Project: Business Name and Mission Statement: At the end of Unit 4 you will submit a project brief answering the following:
What are you going to call your business?
Do you have a mission statement?
What is the relevance of the business name and/or mission statement to you and public?
Group Project: Mid-Project Report: At the end of Unit 6 you should submit a report outlining the following. Note that you are required to submit reports as per the assignment schedule, and you can discuss these questions in whatever order that best suits your business choice.
What is your assessment of the Internal (Micro) and External (Macro) environment this business exists in? Are there any critical factors you must consider before you continue with this idea?
What form of business you will decide for your idea? Sole proprietorship? Partnership? Limited Liability Partnership? Corporation? Non-Profit?
What resources are required for this business idea to realize? Money? Human Resources? Infrastructure etc.?
What type of organizational structure you might like to adapt for this organization? Why?
Group Project: Final Presentation and Submission: By the end of Unit 11, you will be submitting a final group project report.
You can discuss the following questions in whatever order that best suits your business choice.
Who did you pick (from your team) to lead the business? Why? Did you use any formal/informal criteria to assess the person when making these choices? What role(s) you assigned to each of you? Why? (Unit 6)
What source(s) of funding you have currently available? What other venues you might explore to get funding? (Unit 11)
Look at the other similar businesses and try to get an idea of the current market condition in this industry? What are your sales and profit projections? (Unit 11)
The report should be comprised of:
An Introduction and Overview of your business selection
A Body that logically and holistically addresses all the questions above.
A Conclusion that, based on what you have learned in the course, speculates on the viability of the idea as an actual business.
Reference page, that lists any external research you may have done to support some of the decisions you have made. You must properly cite any resource that you accessed or used in your report,
In addition to this written report, you will also present your company to the class in a PowerPoint presentation and be prepared to answer questions and defend decisions made by your group.
