Case Study Assignment: The Venture Concept

Procedure

1. You will have some time to review this information to determine how you will handle the role-play situation and demonstrate the performance indicators of this case study. During the preparation period, you may make notes to use during the role-play situation.

2. You will have approximately 10 minutes to role-play your situation with the teacher.

3. You will be evaluated on how well you meet the performance indicators of this case.

Performance Indicators

1. Use terminology learned in the course so far

2. Analyze the challenges and opportunities of the startup phase of a business

3. Generate, select and assess ideas for a new business - including the form/type

4. Demonstrate understanding of good communication skills

Case Situation

You are to assume the role of the Business Consulting Specialist position for BUCK Business Incubator, an organization that helps new entrepreneurs make their business dreams become a reality. BUCK Business Incubator has been around for several years now and has helped hundreds of people get their businesses off of the ground to be profitable ventures. They specialize in working with new entrepreneurs in the early stages of their businesses as they set them up.

Two prospective young people (Alex and Harman) have recently come into BUCK Business Incubator to get some help in starting their own businesses or non-profit organizations. Alex and Harman dont really know each other as they have just met this past week. The two youths have a variety of skills and interests that include creative media arts, music, technology, athletics and nutrition. They have lots of energy and just need help with where they should focus their time for a business venture or not-for-profit to address the communitys needs.

Both Alex and Harman have grown up in Brampton. They have tried to think about many of the issues that the community faces including homelessness, lack of jobs, safety, mental health, public transit, racism and the recent COVID-19 pandemic. The BUCK Business Incubator has discussed these issues as potential areas to potentially focus on initially, but there are many other issues that could be addressed.

The BUCK Business Incubator owner (teacher) is now looking for your help to get these young entrepreneurs started with their ventures. You need to give them some advice to:

• Analyze the challenges and opportunities of the startup phase of their business

• Generate, select and assess ideas for a new business or non-profit organization that includes the business form/type

• Consider the community needs/wants and their own interests/skills

You can choose to focus on one of the entrepreneurs or both. Please try to give them some guidance and advice to help them with their first entrepreneurial venture.

Some questions the BUCK Business Incubator owner (teacher) will ask you during the interview include:

1. What makes this business idea likely to succeed in the community?

This job agency is gonna be a successful business 8

2. How is it different from competitors?

3. How can this business overcome the challenges facing startups?

4. What is the most appropriate type/form for this business venture and why?