Assignment 1: To Build or BuyDue Week 4 and worth 240 points

Select a small business that you visit often (e.g., coffee shop, bookstore, sporting goods store, etc.). Write a 6-8 page paper in which you:

1. Craft a brief (1-2 pages) strategy for a business concept that would directly compete with the small business you selected. Explain the rationale for the strategy in detail.
2. Determine if it would make more sense to open the new business you describe or to purchase the existing business you selected. Explain your reasoning.
3. Discuss the most appropriate form of ownership for your new business (assuming your current financial situation).
4. Outline a business plan for your business. Visit http://www.sba.gov for tools and templates.
5. Include at least two (2) references outside the textbook.

Your assignment must follow these formatting requirements:

• Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
• Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:

• Analyze the nature of entrepreneurship, business ethics, and social responsibility in managing a successful small business.
• Analyze a business strategy and supporting business plan for a small business concept
• Describe and analyze the necessary activities and key decisions to start a small business.
• Use technology and information resources to research issues in small business management.
• Write clearly and concisely about small business management using proper writing mechanics.

Grading for this assignment will be based on answer quality, logic/organization of the paper, and language and writing skills.

Click here to view the grading rubric.

Assignment 1: To Build or Buy

Criteria

Unacceptable Below 60% F

Meets Minimum Expectations 60-69% D

Fair 70-79% C

Proficient 80-89% B

Exemplary 90-100% A

1. Craft a brief (1-2 pages) strategy for a business concept that would directly compete with the small business you selected. Explain the rationale for the strategy in detail.Weight: 20%

Did not submit or incompletely crafted a brief (1-2 pages) strategy for a business concept that would directly compete with the small business you selected. Did not explain your rationale in detail.

Insufficiently crafted a brief (1-2 pages) strategy for a business concept that would directly compete with the small business you selected. Insufficiently explained your rationale in detail.

Partially crafted a brief (1-2 pages) strategy for a business concept that would directly compete with the small business you selected. Partially explained your rationale in detail.

Satisfactorily crafted a brief (1-2 pages) strategy for a business concept that would directly compete with the small business you selected. Satisfactorily explained your rationale in detail.

Thoroughly crafted a brief (1-2 pages) strategy for a business concept that would directly compete with the small business you selected. Thoroughly explained your rationale in detail.

2. Determine if it would make more sense to open the new business you describe or to purchase the existing business you selected.  Explain your reasoning.Weight: 20%

Did not submit or incompletely determined if it would make more sense to open the new business you describe or to purchase the existing business you selected. Did not explain your reasoning.

Insufficiently determined if it would make more sense to open the new business you described or to purchase the existing business you selected. Insufficiently explained your reasoning.

Partially determined if it would make more sense to open the new business you described or to purchase the existing business you selected. Partially explained your reasoning.

Satisfactorily determined if it would make more sense to open the new business you described or to purchase the existing business you selected. Satisfactorily explained your reasoning.

Thoroughly determined if it would make more sense to open the new business you described or to purchase the existing business you selected. Thoroughly explained your reasoning.

3. Discuss the most appropriate form of ownership for your new business (assuming your current financial situation).Weight: 20%

Did not submit or incompletely discussed the most appropriate form of ownership for your new business (assuming your current financial situation).

Insufficiently discussed the most appropriate form of ownership for your new business (assuming your current financial situation).

Partially discussed the most appropriate form of ownership for your new business (assuming your current financial situation).

Satisfactorily discussed the most appropriate form of ownership for your new business (assuming your current financial situation).

Thoroughly discussed the most appropriate form of ownership for your new business (assuming your current financial situation).

4. Outline a business plan for your business (either the new one you will start or the existing one you will buy).Weight: 25%

Did not submit or incompletely outlined a business plan for your business.

Insufficiently outlined a business plan for your business.

Partially outlined a business plan for your business.

Satisfactorily outlined a business plan for your business

Thoroughly outlined a business plan for your business.

5. Two (2) references outside the textbookWeight: 5%

No references provided

Does not meet the required number of references; all references poor quality choices.

Does not meet the required number of references; some references poor quality choices.

Meets number of required references; all references high quality choices.

Exceeds number of required references; all references high quality choices.

6. Clarity, writing mechanics, and formatting requirements.Weight: 10%

More than 8 errors present

7-8 errors present

5-6 errors present

3-4 errors present

0-2 errors present