Assignment 1: To Build or Buy

Select a small business that you visit often (e.g., coffee shop, bookstore, sporting goods store, etc.). Write a 6-8 page paper in which you:

1. Craft      a brief (1-2 pages) strategy for a business concept that would directly      compete with the small business you selected. Explain the rationale for      the strategy in detail.
2. Determine      if it would make more sense to open the new business you describe or to      purchase the existing business you selected. Explain your reasoning.
3. Discuss      the most appropriate form of ownership for your new business (assuming      your current financial situation).
4. Outline      a business plan for your business. Visit http://www.sba.gov for tools and      templates.
5. Include      at least two (2) references outside the textbook.

Your assignment must follow these formatting requirements:

• Be      typed, double spaced, using Times New Roman font (size 12), with one-inch      margins on all sides; citations and references must follow APA format.

The specific course learning outcomes associated with this assignment are:

• Analyze      the nature of entrepreneurship, business ethics, and social responsibility      in managing a successful small business.
• Analyze      a business strategy and supporting business plan for a small business      concept
• Describe      and analyze the necessary activities and key decisions to start a small      business.
• Use      technology and information resources to research issues in small business      management.
• Write      clearly and concisely about small business management using proper writing      mechanics.

Grading for this assignment will be based on answer quality, logic/organization of the paper, and language and writing skills.

Click here to view the grading rubric.