Description
The essay must be at least 1000 words. Use of proper APA guidelines is expected. The 1000 word count does not include the reference page. 12 pt Times New Roman. MGMT 1110 DESIGN YOUR OWN BUSINESS PROJECT In this project, you will design your own business, making economic decisions using the knowledge you have learned in this class. Consider what elements will make your business successful. Your answers must be answered in your paper. 1) What kind of business are you starting and why did you choose it? 2) Will your business be a sole proprietorship, partnership or corporation? Explain your choice and also explain the advantages and disadvantages of your type of business organization. 3) Where will your business be located? Find the address and print out a map showing its location. Why did you choose your location? (Note For our purposes, you may use an address of an existing business.) 4) What product or service will you provide? Why do you think your business will be successful? 5) Who are your competitors? 6) Design an advertisement for your business. It must be included in your paper. (Note: it is graded on completeness rather than artistic or computer ability. For example, did you include your business name, address and phone number, website, product description, and map to your location and incentive- coupon or discount?) 7) Will you have employees? If so, how many and how much will you pay them? What educational requirements do the employees need? Explain why you will pay them the wage rate (money) you decided upon. 8) What benefits (if any) will you offer your employees? (Health insurance, pension plan, discounts etc.) Why is it important for many businesses to offer benefits?