CMR242 Miami University Business Proposal/Critical Thinking 1. BP Proposal: Your Start- Up Business For this class, you will be ‘starting’ a business of y

CMR242 Miami University Business Proposal/Critical Thinking 1. BP Proposal: Your Start- Up Business

For this class, you will be ‘starting’ a business of your choosing, so you must decide what business you are interested in and submit a proposal with a brief description for approval.
The constraints in selecting your business include:

Your business must NOT be a seasonal business.
You cannot use a franchise.
Your business cannot be an ‘Online’ business.
Your business must be a for-profit business.
You must have face to face interaction with your customer.
You cannot change your business choice after it is approved.

Be sure to select a business that you are interested in, as you will be doing research all semester on this particular industry.

Submit your proposal as a short memo (business format) describing what your business will be, where you will be located and any additional details such as; will it be a home based business or storefront?

Your business MUST be approved by me.

BE SURE TO COMPLETE THIS ASSIGNMENT AS WELL!

2. Complete Key Concept Questions in back of text chapter:

2-6: Explain why a prospective business founder might want to create a feasibility study or Business Model Canvas before developing a complete business plan.
2-7: How can spending time researching and writing a business plan save an entrepreneur time and money in the short and long term?
2-9: Explain why the executive summary is the most important section of any business plan.