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Project 4: Structuring a New Business VentureThe project includes a PowerPoint (voice not required, typed information in note
bar/voice outline is acceptable).
In this project, you will be called upon to research the possible legal structures and
organizational structures for a business that will produce solar energy–fueled
chargers that will charge a variety of products on the go. As you consider starting
your own company, you’ll make a determination about which structures will work
best.
Click Step 1: Research the Steps to Create and Manage a Small Business to get
started.
Step 1: Research the Steps to Create and Manage a Small Business
You decided to take a week of vacation time from Colossal to devote yourself
entirely to developing your new business venture. The new business is a solar
energy–fueled charger that charges a variety of products on the go, including cell
phones and other electronic devices. You begin by going into your home office to
work on the task at hand—the preparation of a narrated PowerPoint to practice
your presentation to potential investors. The presentation will address all of the key
issues related to the legal form and organizational structure of your business.
Specifically, you will include the following in your narrated PowerPoint:
•
A name for your business, a brief mission statement reflecting the primary
goals of the business, and an explanation for why you chose this name and
mission statement. You will explain how this mission statement is drafted so
that it is clear, concise, and meaningful to your business’s stakeholders.
•
An examination of the three most appropriate legal forms of business for
your venture. Include a detailed examination of the advantages and
disadvantages of these three forms and an evaluation of these six factors:
o
creation and maintenance
o
continuity
o
ownership and control
o
personal liability
o
compensation and division of profits
o
taxation
•
A choice of the best legal form of business for your new company
from the three you considered and a full explanation of your choice.
•
A detailed diagram of your organization chart and a rationale explaining
structural decisions reflected in your organization chart, including:
o
the titles of the different individuals and why you chose those titles
o
the tasks the different individuals and groups will have for
contributing to the aims of the company
o
the reporting structure (who will report to whom and why)
o
a choice regarding outsourcing the human resources function,
including a detailed analysis of the pros and cons of outsourcing the
human resources function
o
all other relevant factors (for example, will your business structure be
functional, centralized, decentralized, etc.), including how your
chosen structure will contribute to your long-term aims of going
national and international, or how it will need to be modified to
achieve these aims
After reviewing the above outline of your presentation, you recall the recent
conference call with your potential business partners, Roza and Gary. You realize
that you will need this information to make the best legal and organizational
decisions for your business. You’re asked by one of your collaborators to examine
some resources on creating and managing a new business and on drafting a mission
statement.
In order to complete this task, you realize that you must do some additional
research to address the legal and strategic implications of your decisions if your
business is to get off the ground.
Step 2: Determine the Legal Structure of Your Business: Gather
and Analyze Information
Now that you have read a broad overview of new business creation and
management, you recognize that the next step in creating your new business is to
decide on one of the many legal forms of business you will use to form your new
company. You want to show the investors that you really know your stuff, so you
decide to select three forms of business to analyze and you’ll explain in your
presentation why the option you chose is the best for your new venture.
Step 3: Determine Your Organization’s Structure: Gather and
Analyze Information
After selecting the most appropriate legal form of business, you’re messaged by
one of your colleagues in the collaboration, Roza Worrell:
INBOX (1 NEW EMAIL)
From: Roza Worrell
To: You
I’m glad you finalized your decisions on the legal form for the new business. Now
we need to decide on the organization structure and design that would work best
for our goals. We need to determine what departments the organization will need,
who will report to whom, how many levels we will have in our organization’s
hierarchy, and how many individuals will report to each manager (span of control).
We really need a structure that will promote communication and coordination of
efforts across the entire organization. We also need to consider whether or not we
should be outsourcing the HR function.
After formulating your thoughts, you may also need to do some additional research
on the web and in the library to enhance your knowledge for this presentation.
Thanks for all you’re doing to make this business a reality. Good luck in your final
prep for the presentation.
Sincerely,
Roza.
Step 4: Prepare Your Presentation
Using the information you gathered from your reading and research, you now are
ready to prepare a narrated PowerPoint. Because you want to record yourself and
critique your own work, it should follow the form of asynchronous presentations.
After doing some research, you find that the best presentations are organized by
using the following guidelines:
•
Tailor your presentation to suit the audience.
•
Include a title slide, with your name on it, introducing the presentation.
•
Include only the major bullet points for each issue on the presentation slides.
•
Include no more than 15 slides (not counting title page or references list).
•
Cover all the elements of your plan as outlined in Step 1.
•
Use your narration to provide the supporting rationale for each major bullet
point.
•
Include a script of your narration in the Notes section of PowerPoint.
•
Include a clear summary of your major conclusions and any
recommendations on the conclusion slide.
•
Include a reference page in APA format citing any sources you used to
develop your presentation.
•
Title your files using this protocol: lastname_New Venture_date.ppt.
When your presentation is complete, submit it in the next step.
Step 5: Submit Your Work
Check Your Evaluation Criteria
Before you submit your assignment, review the competencies below, which your
instructor will use to evaluate your work. A good practice would be to use each
competency as a self-check to confirm you have incorporated all of them. To view
the complete grading rubric, click My Tools, select Assignments from the dropdown menu, and then click the project title.
1.3: Provide sufficient, correctly cited support that substantiates the writer’s ideas.
1.4: Tailor communications to the audience.
1.6: Follow conventions of Standard Written English.
1.7: Create neat and professional looking documents appropriate for the project or
presentation.
1.8: Create clear oral messages.
2.1: Identify and clearly explain the issue, question, or problem under critical
consideration.
2.2: Locate and access sufficient information to investigate the issue or problem.
2.3: Evaluate the information in a logical and organized manner to determine its
value and relevance to the problem.
2.4: Consider and analyze information in context to the issue or problem.
2.5: Develop well-reasoned ideas, conclusions or decisions, checking them against
relevant criteria and benchmarks.
5.2: Assess the implications of legal, ethical and cultural (national) standards on an
organization’s operations in global markets and make recommendations for
appropriate actions.
5.3: Create, implement, and evaluate a personal leadership development plan.
7.3: Analyze the implications of civil or criminal wrongs and of product or service
liability laws and make recommendations to support business decisions.
9.3 Apply the principles of employment law for ethical practices and risk
mitigation.
