Question: Your task involves developing your own business in the American city of your choice. You have a wonderful business idea involving social entrepreneurship; however, you
Your task involves developing your own business in the American city of your choice. You have a wonderful business idea involving social entrepreneurship; however, you have had great difficulty in obtaining financial support for your company. Fortunately, you encountered a window of opportunity when a close friend was able to get your company a one-time interview with me, a distinguished business mogul. You must compose a recorded, professional presentation with clear visuals and audio to present to your sole financial investment prospect. Your presentation must contain the following: 1. Business Name and Formation Requirements - The location of your city is important. You must find out the formation formalities that your city requires for new businesses. Check to make sure that your business name is available on the U.S. Patent and Trademark Office website and also on the state website (for which your city is located. Ex. If the city is located in Huntsville, AL, then you would perform a business name search on the Alabama Secretary of State website.) All plans must include at least ten guidelines governing how your business will operate. 2. Vision Statement/Purpose - This is where you describe your vision of what you want your company to be and what makes your company unique. Emphasize how your company will be different from others. Remember that you are presenting your plan to a potential investor. 3. Products/Services - Provide an overall description of your products/services. Also offer a more detailed account about what is important to buyers and differentiate yourselves from competitors. Creativity is key here. You can build displays or create charts and diagrams featuring your products/services. 4. Business Operations and Management - Establish the functions and make-up of your management team and personnel. Include information about the partners, supervisors, business structure, and other relevant information. 5. Marketing - State what marketing avenues you will use /describe your marketing strategy and why you believe it is the best choice for your business. You can also be creative here. Show me how you would actually market your products/services. 6. Financial/Liability Assessment - With any business, a financial plan is essential. Establish a budget, and provide a liability assessment for your business. As your sole financial prospect, I must be informed of what financial risks are involved. 7. Social Entrepreneurship/Corporate Social Responsibility - In your presentation, include the specific details of what social issue(s) you will target in your community and how your business will practice corporate social responsibility. Based on the social responsibility theories in Chapter 3, which level of social responsibility will your business adapt? Who are your stakeholders? What are the short-term and long-term impacts on your stakeholders? What are the challenges to implementing your plan? What is your plan to overcome these challenges?
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