Description
The checkpoint Assignment is a paper on a startup business. The startup business should be a Social Startup. Social startup is a for business startup with a social mission.
The checkpoint assignment for BUS 180, Principles of Economics course is part of a series of assignments designed to enhance students’ knowledge and skills in achieving the goals and learning outcomes of the undergraduate program of the College of Business and Management.
The specific objective of the checkpoint assignment for BUS 180 is to enhance students’ knowledge and skills in evaluating and assessing the market structure for a startup business that they will develop. This exercise will provide the students with the opportunity of integration and implementation of theory to practice in developing the structural foundation of a startup business. This assignment, like the other Checkpoint Assignments, is an integral part of the assessment plan for the College of Business and Management in measuring students’ success in achieving the overall intended students’ learning outcomes.
In BUS 180, each student will experience creating a start- up business to produce a specific product (a good or service). A three to five (3-5) page written research paper on the start- up business, the product and the market structure of the industry is required. The paper needs to present sections on the product information, this may be a good (tangible product) or a service (intangible product); and the initial and potential scope of the market in which the product will be supplied.
In addition, the written paper should have sections on the degree of the existing competition and the characteristics of the rival producers/organizations; the characteristics of the buyers and the potential demand for the product; and the strategy of the start- up business for pricing with regards to elasticity, production and maintaining its competitive advantage. Finally, a critical analysis of the findings and conclusion and the implications for the start-up business need to be addressed in the paper.
The specific components of the proposed start up business should include:
Product description
Scope of the market
Market Structure
Degree of competition, availability of substitute and barriers to entry
Potential demand
Elasticity
Industry Trends
The written plan should specifically address the following:
Product and the initial and future scope of the market (local, national, international/global) that the proposed business intends to serve.
Market structure, degree of competition and the availability of substitutes initially and in the future, locally and globally for the proposed product.
Various barriers to entry to the market in which the proposed business will compete.
Demand and buyers of the proposed product.
Price, income and cross elasticity of demand for the proposed product and their influence on the various pricing and production strategies of the proposed business.
Use the Internet and research the current performance and the future forecast for the industry that your proposed business belongs.
The written paper is to be typed double–spaced, 1’ margins, Times New Roman and 12-point font, with correct spelling and grammar, proper citation, references, with a cover page and organized with headings. The instructor’s approval of the topic is required.
The following Library resources and web-sites could assist students in conducting the research to do the Checkpoint Assignment:
Lynn Library Sources
Academic OneFile
Academic Search Premier
Biography in Context
Business Source Complete
Datamonitor
General Business File ASAP
Hoover’s Company Profiles
LexisNexis
ProQuest (ABI/INFORM)
Reference USA & OneSource
Web-sites
Global Issues in Context
Regional Business News
www.bls.gov
www.makinac.org
www.ftc.gov
www.census.gov
Student learning outcomes
Students will be able to:
a. Specifically identify product and the initial and future scope of the market (local, national, international/global) that the proposed business intends to serve. (SLO 3.1, SLO 3.2)
b. Recognize and evaluate the market structure, degree of competition and the availability of substitutes initially and in the future, locally and globally for the proposed product. (SLO 3.4, SLO 13.4)
c. Identify the various barriers to entry to the market in which the proposed business will compete. (SLO 3.4)
d. Evaluate and specify the potential demand and buyers of the proposed product. (SLO 3.3,
SLO 13.4)
e. Identify the degree of price, income and cross elasticity of demand for the proposed product and their influence on the various pricing and production strategies of the proposed business.
(SLO 3.1)
f. Use the Internet and research the current performance and the future forecast for the industry that your proposed business belongs. (SLO 3.1, SLO 13.3, SLO 13.4)
g. Demonstrate proficient writing skills. (SLO 13.6)