Jwi 575 New Business Ventures And Entrepreneurship Academic Submissi ✓ Solved

JWI 575: New Business Ventures and Entrepreneurship Academic Submissions and Evaluation © Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University. This course guide is subject to change based on the needs of the class. JWI 575 RTC – Assignment ) Page 1 of 5 Assignment 1: New Venture: Game Plan Format: Paper Due: Week 3, Day 7 (Weight: 20%) OVERVIEW Throughout this course you will develop a plan to design and implement a new product or service.

You have two options, depending whether you identify as an Intrapreneur or an Entrepreneur. Your first step is to select or develop an innovative “big idea†for ONE of the options below: Option A – Intrapreneur Choose a product or service that could be added to your organization’s portfolio. You may use your current company or another company that interests you. The source below describes six different models for intrapreneurial initiatives. Consider which model would work best for your concept and your company.

Research Source: Models of Intrapreneurship at: OR Option B – Entrepreneur Identify one business idea that you could launch as a start-up business. You may research business ideas at the source below, which provides over 900 small business ideas: Research Source: For Assignment 1, you will write a Game Plan paper, in which you describe your idea, craft your vision for its implementation, explain its value for customers and stakeholders, and assess major opportunities and threats. INSTRUCTIONS Now that you have your “big ideaâ€, it is time to create your Game Plan – as Jack calls it – for making the idea happen. Think about the stakeholders whose support you will need. For an Intrapreneur, they are the senior managers who make major decisions at your company.

For an Entrepreneur, they are your key stakeholders, such as prospective investors or partners to support and fund your start-up business. As you research and develop your Game Plan, consider how you can persuade these key stakeholders to support you. Your Game Plan paper will be 3 to 4 pages long. It will describe your “big ideaâ€, explain your vision, analyze the opportunity, assess threats, and show the rationale for implementing the idea now. JWI 575: New Business Ventures and Entrepreneurship Academic Submissions and Evaluation © Strayer University.

All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University. This course guide is subject to change based on the needs of the class. JWI 575 RTC – Assignment ) Page 2 of 5 Use the Outline below to organize the body of your Game Plan paper. Also add a short Introduction and Conclusion.

You may find it helpful to write your Introduction after completing the main body of the paper. à˜ Briefly describe your company, either the existing company for which you hope to launch a new venture, or the start-up company that you propose to create: o Company basics: § Intrapreneur: When was your company founded? What products and services does it offer? What size is it now? Has its mission changed over time? What is its greatest strength? o OR § Entrepreneur: When will your start-up business launch?

What will its mission be? Have you chosen a business name? How many staff will you need? How fast do you plan to grow? o Where is your company based? Where does it or where will it do business? o What is the culture of your company, or what business culture do you aspire to create? à˜ Describe your New Product or Service idea: o What is new and unique about your product or service? o What customer needs or desires does it satisfy? o What is the value proposition – i.e. why would someone buy your product or service? à˜ Explain the Opportunity: o Why is this the right time to implement this new business or venture? o What is distinctive, disruptive, and/or innovative about your product or service? o In what ways will this new idea benefit your company (Intrapreneur) or your investors and partners (Entrepreneur)? à˜ Explain the Threats: o Who are the main competitors for the new product or service? o How can you distinguish yourselves from the competition? o What are the major challenges you foresee in implementing your idea? o How can you manage and mitigate those challenges?

JWI 575: New Business Ventures and Entrepreneurship Academic Submissions and Evaluation © Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University. This course guide is subject to change based on the needs of the class. JWI 575 RTC – Assignment ) Page 3 of 5 FORMATTING § Typed, double-spaced, using Times New Roman font (size 12) with one-inch margins on all sides; references must follow JWMI style guide and writing format.

Check with your professor for any additional instructions. § Include a Cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date § Include a References page to identify your sources Note: The Cover page and References page are not included in the required page length JWI 575: New Business Ventures and Entrepreneurship Academic Submissions and Evaluation © Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University. This course guide is subject to change based on the needs of the class.

JWI 575 RTC – Assignment ) Page 4 of 5 Rubric: Assignment 1: New Venture – Game Plan CRITERIA Unsatisfactory Low Pass Pass High Pass Honors 1. Describe in detail the Company Basics. Include its size, mission, location, and culture. Weight: 25% Did not submit or incompletely described the company basics, mission, location, and culture. Partially described the company basics, mission, location, and culture.

Satisfactorily described the company basics, mission, location, and culture. Thoroughly described the company basics, mission, location, and culture. Exemplarily described the company basics, mission, location, and culture. Excellent detail covering all required elements. 2.

Describe in detail your new Product or Service Idea. Include what makes it unique, how it satisfies customer needs or desires, and an explanation of its value proposition. Weight 25% Did not submit or incompletely described the new product or service idea, what makes it unique, and how it satisfies customer needs or desires. Incomplete or missing explanation of the value proposition. Partially described the new product or service idea, what makes it unique, and how it satisfies customer needs or desires.

Partial explanation of the value proposition. Satisfactorily described the new product or service idea, what makes it unique, and how it satisfies customer needs or desires. Satisfactory explanation of the value proposition. Thoroughly described the new product or service idea, what makes it unique, and how it satisfies customer needs or desires. Clear explanation of the value proposition.

Exemplarily described the new product or service Idea, what makes it unique, and how it satisfies customer needs or desires. Excellent and detailed explanation of the value proposition. 3. Describe in detail the Opportunity. Include why this is the right time to launch your venture, what is innovative about your product or service, and how your idea will benefit your company or your partners and investors.

Weight: 20% Did not submit or incompletely described the Opportunity: why this is the right time to launch the venture, what is innovative about the product or service, and how the idea will benefit the company or the partners and investors. Partially described the Opportunity: why this is the right time to launch the venture, what is innovative about the product or service, and how the idea will benefit the company or the partners and investors. Satisfactorily described the Opportunity: why this is the right time to launch the venture, what is innovative about the product or service, and how the idea will benefit the company or the partners and investors. Thoroughly described the Opportunity: why this is the right time to launch the venture, what is innovative about the product or service, and how the idea will benefit the company or the partners and investors.

Exemplary description of the Opportunity: why this is the right time to launch the venture, what is innovative about the product or service, and how the idea will benefit the company or the partners and investors. Excellent detail covering all required elements. JWI 575: New Business Ventures and Entrepreneurship Academic Submissions and Evaluation © Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University.

This course guide is subject to change based on the needs of the class. JWI 575 RTC – Assignment ) Page 5 of 5 CRITERIA Unsatisfactory Low Pass Pass High Pass Honors 4. Describe in detail the Threats. Include your main competitors, major challenges that you foresee, and ways to mitigate those challenges. Weight: 20% Did not submit or incompletely described the Threats: the main competitors, major challenges that student foresees, and ways to mitigate those challenges.

Partially described the Opportunity: the main competitors, major challenges that student foresees, and ways to mitigate those challenges. Satisfactorily described the Opportunity: the main competitors, major challenges that student foresees, and ways to mitigate those challenges. Thoroughly described the Opportunity: the main competitors, major challenges that student foresees, and ways to mitigate those challenges. Exemplary description of the Opportunity: the main competitors, major challenges that student foresees, and ways to mitigate those challenges. Excellent detail covering all required elements.

5. Clarity, logic, and writing mechanics. Weight: 10% Multiple mechanical errors. Much of the content is difficult to understand. Fails to follow The formatting instructions.

The text does not flow well. Several mechanical errors. Parts of the text are difficult to understand. The text does not flow well. Writer fails to justify his or her conclusions and assertions.

More than a few mechanical errors. Text flows well but lacks conciseness or clarity. Assertions and conclusions are generally justified and explained. Few mechanical errors. Text flows well.

Writing concisely and clearly expresses the writer’s ideas. Topics are rationally and logically developed. No mechanical errors. Text Flows very well. Writing concisely and clearly expresses the writer’s ideas. Topics are developed in an excellent and coherent way.

Paper for above instructions

Introduction

In response to the growing demand for healthy and sustainable snack alternatives, I propose the establishment of a new venture, “Nature’s Nibbles,” which will specialize in producing innovative plant-based snacks. This Game Plan will outline the vision for this entrepreneurial endeavor, detailing the company basics, describing the unique product offering, analyzing the opportunity within the marketplace, assessing potential threats, and articulating the implementation strategy that will persuade stakeholders to support this initiative.

Company Basics

Overview

Nature’s Nibbles will be launched in the first quarter of 2024, based in Portland, Oregon, known for its progressive approach to health and sustainability. The company’s mission is to provide delicious, healthy, and environmentally friendly snack options that cater to the growing segment of health-conscious consumers. The business will start with a small team of five, including a product developer, a marketing specialist, and operational personnel, with plans to expand in response to growth.

Culture

Nature’s Nibbles is committed to fostering a culture of sustainability and innovation. Employees will be encouraged to engage in creative processes, with their ideas valued and implemented whenever possible. The work environment will be collaborative and supportive, with a strong emphasis on health, wellness, and environmental stewardship.

Products and Services

Our flagship product is a line of plant-based snack bars made with organic ingredients, including nuts, seeds, and superfoods. Additionally, the company plans to introduce a range of savory snacks made from vegetables, legumes, and whole grains.

New Product Idea: Plant-Based Snack Bars

Unique Value Proposition

The plant-based snack bars will differentiate themselves by utilizing a unique blend of superfoods and exotic flavors not commonly found in the current market. For instance, the combination of spirulina and chia seeds provides not only nutritional benefits but also a distinctive flavor profile that appeals to adventurous snackers. The value proposition is clear: Nature’s Nibbles will offer products that are not only good for the consumer's health but also sustainable, as they use ingredients sourced from responsible suppliers.

Customer Needs

Our target audience consists of health-conscious consumers looking for convenient snack options that align with their values surrounding health and sustainability. Nature’s Nibbles meets these needs by offering a product that is gluten-free, non-GMO, and vegan, catering to dietary restrictions and preferences while satisfying cravings for a tasty snack.

Opportunity Analysis

Market Timing

The plant-based food market is projected to grow significantly, with increased awareness about health and environmental impacts associated with traditional food options (Statista, 2023). The recent trend towards plant-based diets, driven by health concerns and sustainability discussions, signifies that now is the optimal time to launch this product.

Distinctive Features

Our product seeks to innovate within the snack category, which has seen limited options beyond traditional bars. The introduction of superfoods and unique flavor combinations like cocoa-lavender and turmeric-cashew will provide a competitive edge and cater to taste exploration in the healthy snack space.

Benefits to Stakeholders

For investors, the rise in plant-based diets translates to a lucrative opportunity. A successful launch with well-executed marketing strategies can generate substantial revenue. In addition, collaborations with local health and wellness events will enhance brand visibility and community engagement, fostering brand loyalty.

Threat Assessment

Competitors

Key competitors include established brands such as RXBAR and KIND, as well as new entrants into the plant-based market. Each brand offers various types of healthy snacks, making the market competitive.

Distinction Strategy

To distinguish itself in a saturated market, Nature’s Nibbles will use unique and locally sourced ingredients, combined with a strong marketing strategy focused on community engagement and sustainability. The brand will incorporate storytelling into its marketing, emphasizing the origin of its ingredients and the impact on local farmers.

Implementation Challenges

A major challenge will be the initial consumer acceptance of the products and convincing them of their superior taste and nutritional value. Additionally, establishing partnerships with local distributors and retailers will be crucial but also challenging due to an already existing network of established brands.

Mitigation Strategies

To address these challenges, the company will invest in extensive market research to understand consumer preferences better and adapt products accordingly. A robust marketing strategy, including social media engagement and influencer partnerships within the health and wellness community, will help cultivate brand familiarity. Additionally, trial periods with potential retailers can enable customers to sample the products, fostering word-of-mouth marketing (Kotler et al., 2019).

Conclusion

Launching Nature’s Nibbles represents a promising opportunity in the burgeoning plant-based snacks market. By leveraging unique product offerings and emphasizing sustainability, the company can fulfill consumer demand while creating a robust, socially responsible business model. This Game Plan not only outlines the strategic approach for the implementation of this idea but also highlights the substantial value offered to consumers and stakeholders. With determination and innovative thinking, Nature’s Nibbles is poised to make a meaningful impact on the health snack landscape.

References

1. Kotler, P., Keller, K. L., & Chernev, A. (2019). Marketing Management (16th ed.). Pearson.
2. Statista. (2023). Plant-based food market value worldwide 2023-2026. Statista.
3. Nielsen. (2023). The Rise of Plant-Based Foods: Key Trends and Insights.
4. Mintel Group Ltd. (2022). Snack Food - US Report.
5. Fortune Business Insights. (2023). Plant-Based Food Market: Global Market Analysis, Trends, and Forecasts, 2023-2030.
6. Allied Market Research. (2023). Plant-Based Snacks Market by Product Type and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2020-2027.
7. Grand View Research. (2023). Plant-based Snacks Market Size, Share & Trends Analysis Report.
8. Future Market Insights. (2023). Plant-based Snacks: Market Trends, Opportunities, and Rapid Growth.
9. Market Research Future. (2022). Plant-Based Snacks Market Research Report – Global Forecast till 2030.
10. Deloitte. (2023). The Future of Food: Changing Consumer Tastes and Implications for Growth.
This paper serves as a thorough foundation for the launch of Nature's Nibbles, providing insights into company structure, product offerings, market opportunities, competitive landscape, and strategic directions for the venture's success.