Part $1$: Identifying a Business Idea $($In Class$)$

Review the rubric for this assignment.

Think of a business idea based on your understanding of the Canadian economic landscape and your work in this course$$your self$-$evaluation, entrepreneur interview, and your personal values. With your teammates, pool ideas for a new product line that reflects your collective interests. At this point, generate ideas$$do not edit. When your group is satisfied that you have generated as many ideas as possible, begin to prune your list, keeping in mind these five criteria:

$-$ The idea for a business must have at least five tangible products$$something that you can create a website for and sell online. At least one product must have variations.

$-$ It must be eco$-$friendly, reflecting corporate social responsibility and ethics.

$-$ The idea must reflect your team or individual interests, hobbies, or passions.

$-$ It must involve a management team.

$-$ It must be unique.

From your list, select one idea that you think could be a new venture in Canada.

Part $2$: Developing and Creating Your Business Plan

In your group, launch your project by clicking on the Shopify blog in Materials and Resources. Scroll through the blog to view the overview and examples. Return to the video and download the template$$the video will walk you through it$.$ You will notice that it includes links to other useful tools $($for example, under Financial Plans, download templates for Income Statements, Balance Sheets, and Cash$-$Flow Statements$).$ Use these tools as you create your business plan.

After you finish the video and have downloaded the template, begin to create a shell for your business plan. Your shell, which is based on the Shopify template, should include headings and a brief description of the content needed.

In addition to addressing all template components, including the executive summary as outlined, ensure you address these components in your shell:

Under Company Overview, outline any legal, regulatory, and licencing details.

Under Team, outline qualities of the management team and include job descriptions for the team and any employees.

Under Financial Plan, include estimates of your startup costs, cash reserve, sources, and application of funds, and opening day balance sheet.

Under Logistics and Operations, include hours of operation and employee shift schedules.

Use the shell to divide the workload. Each group member will assume responsibilities for particular components. As a group, set a schedule that specifies draft due dates, peer review, final writing, and final plan completion.

Prepare your business plan using APA styling. Include an appendix that lists resources you have used.

When you have finished, the final step in this assignment is to consider what would be required$$components$,$ financial information$$to produce a shareholders$$ or annual report of your business. Click the Extensio link and search for annual report templates. Compare the template elements to your business plan. Identify common elements and what you would need to do $($and learn$)$ in the intervening year to produce an annual report.

Part $3$: Presentation $($Day $8$ or $9)$

Your business plan will be tied to your Shopify store in the presentation. For this component of

the presentation, prepare a PowerPoint that details the following elements:

Rationale for choosing your idea

Group process for creating your plan

High level overview of your product line, company, customer base, market analysis, marketing and promotion plan, logistics$,$ finance, annual report preparation $($one slide each$)$

Ensure that every group member participates in the presentation, preferably on the portion they developed. This portion of your presentation should be a maximum of $10$ minutes. You will then proceed to showcase your Shopify store.

Part $4$: Submit Your Assignment

Submit your group assignment, which includes group members$$ names and your business plan, to Develop and Present a Business Idea and Plan submission folder on Brightspace.

Submit your personal portion of the plan you developed to the Assignment $3,$ Personal Contributions submission folder on Brightspace. Include your name and names of other group members on your submission.