Task Assignment

In groups of 3 or 4, you will create and sell a product or service on a small scale at the Dubai Women’s College annual ECS (to be held 14-16 December 2010).  You will be required to finance your own business and you should aim to make a profit.  You will prepare a web site 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.
Business Description and Financial Projections
5. Mission Statement  
6. "SMART" Objectives Include at least two SMART objectives with a discussion of why you chose them and how you will measure them. One objective must be related to either sales or profit. (In your final ECS Reflective Report you must provide an analysis of how your business performed in relationship to your 2 SMART objectives).
7. Product What are you selling?  Include a description of your products/services (with pictures if possible), the benefits you expect to offer.
8. Market How do you know there is a market for your product or service?  Who are the most likely buyers (target market) and why do you think they are interested?  Present the 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.
9. Organisation Chart Include a discussion on why you chose each person for the position shown.
10. Operations Plan Explain how your product/service will be produced, supplied, delivered, etc.  What facilities and equipment (tables, chairs, fridges, etc) will you need?
11. Financial Projections/Income Statement Prepare an Income Statement on an excel spreadsheet.  Include the following details:
Budgeted Income Statement

Please see the report formatting and referencing document on how to format and reference you Bazaar reports.

The due date and assessment percentages are:

Course Weight Due Date
Organizational Behaviour 15% Week 6 (Oct. 21, 2010)
Marketing Fundamentals 10%
Financial Accounting I 6%

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 20 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
Marketing Fundamentals 10% Week 7 (Oct. 24, 2010)
Business Communication III 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
Marketing Fundamentals 5% Week 12 (Nov 28, 2010)

Bazaar (ECS) Event

Each group will be evaluated by their Marketing Fundamentals faculty for:

  • Product promotion at point of sale
  • Selling/customer service skills used
Course Weight Due Date
Marketing Fundamentals 10% Week 14 (Dec 14-16, 2010)

During the bazaar (ECS), you mush also carry out a customer feedback survey.  Aim for 25 respondents.   Include the results in your final report.

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. Organisational Behaviour Reflection The reflection should contain:
  1. A discussion of one conflict that you faced and how you resolved it.
  2. A discussion of the leadership style, delegation, teamwork and motivation that was evident in your group (please relate these ideas to concepts covered in class).
  3. Evaluate your Yr 1 staff using standard business department work placement assessment form.
  4. An analysis of how your company performed in comparison to each of your 2 stated SMART objectives.
6. Financial Results An Excel spreadsheet, which will include the following:
  1. Actual income statement.
  2. Budgeted income statement.
  3. Analysis of financial results: (i) Comparison between Budgeted income statement and Actual income statement.
  4. Analysis of financial results: (ii) Explanation of the reason for variance between Budgeted income statement and Actual income  statement.
7. Marketing Mix Marketing Mix (4Ps) and Customer Feedback
  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. Customer feed back survey: This should be conducted during the Bazaar.  Findings should be clearly presented. During the bazaar (ECS), you mush also carry out a customer feedback survey.  Aim for 25 respondents.   Include the results in your final report.
8. Microeconomics 
  1. Circular Flow Diagram:
    1. Draw the Circular Flow Diagram for your business
    2. Identify each agent (buyer/seller) and each market (inputs/outputs) for your business.
  2. Demand and supply:
    1. How did you determine the demand for your product/service
    2. Which factors influenced the demand and supply for your product/service?
  3. Cost and Pricing:
    1. What were the fixed costs; variable costs?
    2. How did you decide the prices of your products?
    3. Did you change the prices during the Bazaar – if yes, what factors led to the change?
    4. Do an analysis of the revenue and profit of your business, based on the units sold.
  4. Market:
    1. How would you describe the market (monopoly, duopoly, competition etc) and level of competition for your product? Explain in detail.
9. 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
Organizational Behaviour 30% Week 17 (Jan 02, 2011)
Marketing Fundamentals 15%
English Communications III 10%
Financial Accounting I 9%
Microeconomics 10%