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Make a list of possible competitors and decide what kind of market structure (perfect competition, monopolistic competition, oligopoly, monopoly) you will be participating in and how you determined this.

by | Sep 21, 2022 | Business and Management : Business | 0 comments

 

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You may work individually or with one other person to create a business.  Below are the pieces of information that you will need to include in your business plan.  Use Google slides to create your presentation.  You should have at least one slide per bulleted item below.
Choose a name for your business.
Decide what type of business to create (sole proprietorship, partnership, corporation) and explain why. (10 pts.)  Read about the different types here (start on slide 23):  https://app.nearpod.com/?pin=s2h5w
Decide if your business will be for profit or not for profit and explain why. (10 pts.)  Read about the different types here:  https://www.uschamber.com/co/start/strategy/nonprofit-vs-not-for-profit-vs-for-profit
Choose a main product/service (this must be school appropriate) to sell and explain why. (10 pts.)
List what raw materials you will need to buy for your business – remember to list everything, not just a couple of materials. (10 pts.)
Decide how many workers you will need to hire (managers, salespeople, production, etc.) (10 pts.)
Create a monthly budget for your business (rent, inventory, advertising, wages and other costs) (10 pts.)
Decide on a price for your product/service and explain how you chose this price. (10 pts.)
Design an advertisement for your main product – this could be a picture or a video.  (10 pts.)
Make a list of possible competitors and decide what kind of market structure (perfect competition, monopolistic competition, oligopoly, monopoly) you will be participating in and how you determined this. (10 pts.)  Read about the different types of market structures here:  https://app.nearpod.com/?pin=s2h5w
Determine if you will be participating in price or non-price competition and explain why. (10 pts.)  Read about the different types here:  https://www.economicsdiscussion.net/difference-between/difference-between-price-and-non-price-competition/3829

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