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Task Assignment

In groups of 3-4, you will create and sell a product or service on a small scale at the Dubai Women’s College annual bazaar (to be held 8 – 10 December 2009).  You will be required to finance your own business and you should aim to make a profit.  You will prepare a web site and other promotional materials to help promote your business.  Year 1 students will be assigned as ‘employees’ to help at each booth/business. 

Mini Business Plan Report

In groups, you are required to submit a mini business plan report in Week 6 (October 19th).  The report should be prepared as if you were presenting it to a potential investor. It should be highly professional, conforming to DWC report and reference format. 

Your report should include the following:

1. Cover Sheet Include the name of your business as well as the names of your group members
2. Table of Contents Use the automated Section and Page Number function of Microsoft Word. If you have a number of appendices, you should number these also and reference them appropriately within the document.
3. Executive Summary This is a summary (approximately half a page) of the report’s content.  Briefly explain what you are planning to sell, to whom, why you think your business will be successful and what profit you expect to make.  A possible investor should get a good idea of the probable success of your business by reading the executive summary.  If it is convincing he/she will read the rest of the report in detail.  If an investor is not impressed by the Executive Summary, he/she is unlikely to read on.
4. Introduction Briefly describe what the reader will find in the report (e.g., description of products/services, business operation, market research results, projected financial figures etc) and what the bazaar is about.
5. Financial Results See the Final Report section for this. Not needed during the first mini business plan submission
Business Description and Financial Projections
6. Marketing Mix Describe your marketing mix according to the 4 P’s. 

Include a description of your products/services (with pictures if possible) and why you selected them, the benefits you expect to offer and the target market you want to attract – describe market segments according to the market segmentation variables discussed in class.  What is your USP (Unique Selling Proposition) or what is special about your business – your Competitive Advantage.

At this stage you should have ideas about your brand image, logo and the promotional tools you intend to use to market your business (include sketches/drawings if possible). Mention them here but remember these topics will be assessed again in terms of reflection / evaluation later in your final report. HINT: you should describe your Brand Image, Business Name and Logo – value for money, cool, fun etc. What is the rationale behind your logo – why it is designed the way it is. 

You will be required to do a Marketing Mix reflection which must be added to the Final Report.
7. Market Research Findings Findings of a survey assessing demand for the product amongst your target market as well as customer preferences in terms of product, price, place and promotion.
8. Organisation Chart Describe your organisational structure. Describe each role in your organisation, including your year 1 students. Describe how you have matched the skills required for each position with the personal qualities and skills of the team members. Remember to include your Organisation Chart.
9. Operations Plan Explain how your product/service will be produced, supplied, delivered, etc.  What
facilities and equipment (tables, chairs, fridges, etc) will you need?
10. Financial Projections/Income Statement Prepare an Income Statement on an excel spreadsheet.  Include the following details:

Input
  • Expected sales volume of each product (in units).
  • Expected selling price per unit of each product.
  • Expected variable cost per unit of each product.
  • Expected total fixed expenses.
Output        
  • Sales, variable expenses, and contribution margin of each product in dirhams.
  • Total sales, total variable expenses, contribution margin, fixed expenses and net income for the business.
11. Economic Analysis See the Final Report section for this. Not needed during the first mini business plan submission
12. English

The due date and assessment percentages are:

Course Weight Due Date
Intro to E-Business 1 20% Week 6 (Oct. 8, 2009)
E-business Marketing 20%
Consumer Behaviour 15%
Web site Design 20%
Managing Financial Resources 20%

Mini Business Plan Presentation

During Week 7 (on October 13th) your group will present your business plan to a group of teachers and your Year 1 "employees".  Each team member must contribute to the presentation (individual assessment).  You must deliver your presentation as if you were presenting to a business investor.  Imagine that you are trying to convince the panel to loan you money to run your business.  Do you have a unique selling proposition (USP) or competitive advantage?  You will be allowed 15 minutes only for this presentation.  Focus on the key points.  Try to build credibility in your team, convince the panel that your business idea is good and the financial projections look promising.  Do not try to include everything from your report.   You should include a sample of your product in your presentation. 

The due date and assessment percentages are:

Course Weight Due Date
Business Communication III 10% Week 7 (Oct. 13, 2009)
E-business Marketing 10%

Web Site

Each group should create and publish a web site to advertise their products.  The web site should enable customers to see the products and encourage them to place advance orders.

The due date and assessment percentages are:

Course Weight Due Date
Website Design 20% Week 12 (Nov. 19, 2009)

Bazaar Event

Each group will be evaluated by their teachers for:

During the bazaar, you mush also carry out a customer feedback survey.  Aim for 50 respondents.   Include the results in your final report.

The due date and assessment percentages are:

Course Weight Due Date
Consumer Behaviour 10% Week 15 (Dec 8-10, 2009)
eBusiness Marketing 15%

Final Report (Results and Reflection)

As well as 1 to 4 as described above (Cover Sheet, Table of Contents, Executive Summary, Introduction) your final report should include the following:

5. Financial Results An Excel spreadsheet, which will include the following:
  1. Actual income statement (contribution format) showing the 5% commission paid to the Bazaar Bank by way of contribution to ‘Charity’.
  2. Actual overall contribution margin ratio (in percentage) and overall breakeven point in sales dirhams.
  3. Actual margin of safety in dirhams.
  4. Budgeted income statement (contribution format).
  5. Budgeted overall contribution margin ratio (in percentage) and overall breakeven point in sales dirhams.
  6. Budgeted margin of safety in dirhams.
  7. Variances and analysis of variances.
6. Marketing Mix Marketing Mix (4Ps) and Customer Feedback (additional guidelines will be handed out in class)
  1. Product reflection:  explain any changes made since submission of mini-business plan; review success of products/services offered; any suggestions for change or improvement in the light of experience.
  2. Pricing: list objectives and describe pricing strategies.
  3. Distribution:  briefly describe point of sale design (include a picture if possible), other distribution techniques and stock management procedures/issues.
  4. Promotion: list objectives and describe promotion mix strategies.  In addition to the website, you should have developed at least two tools (e.g. posters, flyers, brochures, audio or video advertisement).  Include samples and explain why they were appropriate and effective for the product, target market and competitive situation.
  5. People; describe how the people involved in the delivering of the product / services helped the business to obtain a competitive advantage? Or not? Did staff have the appropriate interpersonal skills, attitude, and service knowledge to provide the service that consumers were paying for?
  6. Customer feed back survey: This should be conducted during the Bazaar.  Findings should be clearly presented.
11. Economic Analyses 
  1. Demand and supply:
    1. How did you determine the demand for your product/service (based upon market conditions)
    2. Which factors influenced the demand and supply for your product/service?
    3. Did any of these factors have an influence on the pricing of your product/service?
    4. What competitive advantage did you have over the other businesses?
  2. Do an analysis of the economic costs of your business.  Concentrate on the following areas:
    1. fixed cost
    2. variable costs
    3. total costs
    4. cost per unit
    5. break-even
    6. implicit and explicit costs
    7. economic Vs accounting profit
    8. Opportunity cost: what opportunity costs did you have?
12. English
  • Implement the  Big 6 Information Literacy framework in your research
  • Provide in-text citations for ideas paraphrased using MLA format
  • Include a list of References of all works cited in the report using MLA format
13. Appendices Your appendix should include copies of all your correspondence such as  faxes, letters, meeting agendas, meeting minutes etc as well as any other supplementary information that you think would be appropriate.
  • Submit your final report on SafeAssign archives.
  • Include a SafeAssign report in the Appendices

 The due date and assessment percentages are:

Course Weight Due Date
Consumer Behaviour 15% Week 17 (Dec 23, 2009)
eBusiness Marketing 15%
Business Communications III 10%
Evaluation of Financial Resources (presentation) 15% Dec 17, 2009