Business Ownership Project - 2008
March 20th, 2008Due Monday, June 9 (Finals Week) at my office in room 336 in UW1
You are to describe and contrast two different businesses. You will interview the owners of each company.
Requirements
1. Each must represent a different business model. For example, you may not use two brick-and-mortar retail stores (e.g. Wine Store and Bookstore).
2. You must describe the two models (e.g. Basics of Hazel’s Model) . You might even do a quick comparison of both businesses in a single table. The model must run through the 5 sacred elements. You may wish to also have a table(s) that contain further descriptions of each business.
3. You must have a single sentence or two sentences that describe each business (e.g. “They aim to be the Nordstroms of Casual Cafes - casual atmosphere coupled with very good food and outstanding service”)
4. You should then include a narrative about each business. You should still contrast each business. Typical questions that are asked should include:
a) When did you know that you wanted to start your own business? What was the inspiration for starting this business?
b) Was your initial idea the same as your current business? How did you change directions?
c) How did you obtain your starting capital?
d) What were some especially difficult obstacles? Did you ever have any difficulty with having enough cash?
e) What type of qualifications must an owner have? What type of qualifications are needed in the employees? How easy is it to find the right employees?
f) If the person sold or shut down his/her business, you may ask: when did you realize it was time to get out of the business? What were some lessons learned for closing your business?
5. You should include a cover page and executive summary (no more than 1 paragraph).
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