Starting and Managing a Business
BUS357: Starting and Managing a Business
Kareem and Jimmy have been friends since primary school. They have both just completed national service. Both of them want to be entrepreneurs and start their own businesses.
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Jimmy’s mother is a faculty at SUSS and suggested that they apply for the ‘Alibaba Cloud – SUSS Certificate/Minor in Entrepreneurship’. To be admitted into the program, they have to present their ideas to a panel of judges who will only admit ideas that are viable.
Assessment criteria for business proposal applications:
The uniqueness of the business concept
Feasibility of the business model
Strength of management team
Potential market value
Working prototype
Social impact
Kareem and Jimmy did not know of this certificate opportunity and were excited. They thought it was a good way to get feedback and to obtain funding. They also liked the idea of social impact and we’re keen to establish a social enterprise. They decided to go back to the drawing board to come up with a sustainable social enterprise idea.
They approached you for advice and help. The following information was given to you:
They would like to apply for the Alibaba Cloud – SUSS Certificate in Entrepreneurship.
They want their business to be a social enterprise and have a social impact.
They are open to any new ideas.
The amount of capital between them was only $12,000/- SGD. Hence, they would also need to seek funding. They are open to obtaining loans and/or equity investors.
They are very clear that they DO NOT want to franchise a business.
Question
You are to construct a business model canvas and analyze the opportunities for launching a social enterprise business or a business with a social impact.
In your report, you should appraise in detail each section of the business model canvas. The report should also include a brief discussion of any 2 legal issues relating to starting and operating the business.
The report should include a brief competitor analysis. The report should also demonstrate an understanding and a detailed description of the revenue stream and the cost drivers