MICROECONOMICS SEMESTER PROJECTIntroduction of Semester ProjectA semester project will be an individual or joint project up to four students on a subject concerning microeconomic issues related to a specific business. This semester project can be typically more than 25-35 pages with a cover page, bibliography and miscellaneous pages. Do not use APA or MLA citations in this project. This semester project will be due any time before ninth week of the semester. The student or students will choose to complete one of the two projects below. Both projects will be similar in the formats and research. The student or students will indicate on their cover page on whether they completed Option A or Option B Semester Project.The Semester Project simulates entrepreneurs seeking funding from potential investors. By using knowledge from the microeconomics class, the students should be able formulate a business plan ready to present to investors. The instructor will play the role as a banker or a financier of a potential business project. Note not all of a typical business plan components are required to complete this Semester Project. A sample table of contents will be provided for the Semester Project.Requirements for the Semester ProjectThe objective of the Semester Project is to provide a meaningful learning experience for students who are interested in pursuing an entrepreneurial opportunity at some point in their careers. This business plan will essentially be used in the real world by entrepreneurs, business leaders, bankers, financiers, managers, supervisors, etc.The students will use their writing skills with their research skills to present a meaningful business plan to raise money for their venture. The Semester Project will be graded on its presentation, grammar, content, research and format. Relevant photos, pictures, graphs and charts are allowed within the Semester Project as long it strengthens the business plan.Basic Components of the Semester ProjectThe following sections of a business plan will be required for the semester project. As the semester progresses, the instructor will post instructions on Blackboard on how to compile and research each section of this business plan. Many examples from other business plans will be posted on Blackboard. Note that accounting financials, pro forma statements and financial plans will not be necessary to complete the Semester Project. These sections of the business plan will be taught in the student’s accounting and finance classes. I.Executive SummaryThis is an introduction of the business to the reader. It will summarize the all the following sections to the business reader. It merely highlights all the other sections for the reader. Typically, this section is written last and it will be the most important section of the Semester Project.II.Company DescriptionThe object of this section is to convey information such as your legal status, ownership, product or services, company mission and milestones achieved to date.
III.Industry Analysis and TrendsA lot of research will be detailing the industry of the business on its past, present and future. It is to study any economic forces that may affect the overall industry. By evaluating the industry, it will increase the factors contributing to the business’ success and to show your knowledge of external business conditions.IV.Target MarketThis section presents the analysis of your customers’ needs and desires. It will study who the customers are, what they want, how they behave and what they can afford.V.CompetitionBy analyzing the competition, the business plan can find out its strengths and weakness of every competitor. It will allow to distinguish any similarities and differences with the competitors.VI.Strategic Position & Risk AssessmentIn operating a business, it should be studied on where the business stands in the current marketplace, what makes the business compelling to consumers, and what advantages there are over the competition as a clearly defined strategic position. VII.OperationsThis will explain the day-to-day functions of the company. It will describe the facilities, production, inventory control, supply, distribution, customer service, etc.VIII.ManagementThis final important section will describe all the most important people in the business organization, particularly the management team.IX.Developments, Milestones & Exit PlanThis is the final section that serves as the conclusion. For an already established business, this section will highlight the past developments and milestones. For a start-up business, it will predict the developments and milestones in the future. Lastly, all good businesses will have an exit plan in case the business is successful or a failure.Option A – Semester Project Based on an Actual BusinessThe student or students will find an actual operating business. By interviewing member or members of the business, the Semester Project could be completed with the materials and interviews. Extra research may be needed to study the industry, target market, etc. Most of the materials will probably be provided by the business themselves.Please note that businesspersons are often busier than students. It is highly recommended to schedule an appointment far ahead of time to handle your research. There might be a need to schedule additional interviews if one interviewee is insufficient or possible follow-up interviews. Do NOT choose a Semester Project with a business that wishes not to disclose anything about their business or to remain anonymous. It would severely weaken the Semester Project grade.

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