16.Follow the instruction to write 5pages asap

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Module 4: Innovation and the Entrepreneur – WebCOM™ 2.0
ARIZONA STATE UNIVERSITY VENTURES
ADAM WEBB
MODULE 4: INNOVATION AND
THE ENTREPRENEUR
INTRODUCTION
The allure of starting a business can
sometimes cloud individualsʼ perception
of what they want to accomplish. An
individual might have an idea of selling a
certain kind of product based on what
their experiences have been up to that
point with a similar product, or they have
an idea of providing a service for a
certain demographic or community, but
when it comes to translating that dream
into reality, it is a different story.
Illustration by Adam Webb
In this sense, individuals might even
think that adding some sort of innovative
aspect to their product or service will
differentiate it among the rest. While this might be the case, there are other
factors that need to be considered. For instance, depending on what kind of
business an individual is desiring to start, there is a certain process that
they will need to follow. This could entail developing a five-year budget,
getting a loan, locating a prime spot, submitting legal documents with the
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state, city, or county in which they live, licensing and permits, building and
construction costs, insuring investments, and a variety of other things.
Another aspect involves marketing and
branding strategies. Technology now
plays a major role in how businesses
promote themselves and their products.
The Internet is a part of our everyday
lives. Practically everyone has a
smartphone and a computer. Everyone is
connected all of the time. We are
constantly communicating with one
another. The development and use of
mobile devices are a key element in this
respect.
Illustration by Adam Webb
Partnerships are also important in
starting a business. There are different
kinds of partnerships, too. For instance, some individuals start off on a
business venture together with a shared idea and dream. Other
partnerships might occur along the way functioning in an ancillary capacity.
In an era of such technological advancements, the concept of being an
entrepreneur is appealing to a wide range of individuals that have specific
talents, skills, and markets in which to sell their products and services.
The final aspect when starting a business comes in the form of profitability.
In some instances, various competitive elements can determine the
profitability of a business, product, or service. When starting a business,
some entrepreneurs consider what complementary goods might benefit
them. In this sense, complementary goods can offer more value when used
alongside another product or service. Another factor to consider is the
concept of substitute goods, which is a result that happens when using one
good or service replaces the use of another.
Despite the state of the economy, many third world countries have
populations that are existing in a state of perpetuity. This means that many
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developed countries enjoy an abundance of wealth, food, and services. Due
to various political, social, and cultural interactions and exchanges between
countries such as these, there is a flow of ideas and opportunities. Being
able to recognize these kairotic moments and taking advantage of them can
determine a businessʼs success.
ADDITIONAL RESOURCES:
If your group is doing a business
proposal or plan, please consider
reviewing one of these three sample
formats (they are one-page business
proposal/plan formats):
Sample small business plan 1
Sample one page business plan 2
from this resource
Illustration by Adam Webb
Sample one page business plan 3
“ How to Start a Small Business: 6 Steps From Idea to Success ” article on
www.fundera.com
“ 5 Online Businesses You Can Start With No Money ” article on
www.thebalancesmb.com
If you are looking at focusing on the marketing aspect, then consider using
this resource to get started:
Sample marketing plan
VIDEO
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from this resource
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PROJECT DESCRIPTION—STARTING A BUSINESS
Sample Student Writing 1
Sample Student Writing 2
NOTE:
If you would like to view more than the two student samples listed
above, please e-mail the instructor to request them.
Starting a business
(Suggested format and required materials):
1. Business plan or proposal—Design and format to be decided by
students (i.e., students can adopt and/or adapt a previously created
design and format for their purposes)
2. Background research—Multiple paragraphs that examine similar
business approaches and models that will benefit the studentsʼ own
business (students can use online articles, websites, videos)
3. Estimated budget for three to five years—Design and format to be
decided by students (i.e., students can adopt and/or adapt a previously
created design and format for their purposes and the numbers and
estimates may be fictional)
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4. Marketing and advertisement strategies and design example
document—Advertising and design strategies can be presented in
multiple paragraphs; the format for the sample advertisement is to be
decided by students (i.e., students can adopt and/or adapt a previously
created advertisement designs and formats for their purposes)
5. Establishing physical and digital locations—Multiple paragraphs that
examine how similar businesses use technology and social media to
promote themselves, services, and products (i.e., students can adopt
and/or adapt previously created methods and approaches businesses
have used in creating an online/web presence for their business,
services, and/or products)
6. Closing statements—Multiple paragraphs that offer your final
thoughts/comments
7. References/Works Cited
GRADING RUBRIC FOR THE WRITING:
Creative expectations:
Students are expected to interpret the scenarios and offer their best
solutions to them
Students are expected to add their own “flare,” your own “flare” means
your own interpretation of the scenarios as well as your own
descriptive solutions for each one of them
Students are expected to be descriptive (as much as needed) for each
of the scenarios
Expectations for the writing:
Clarity of ideas
Organization of ideas
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Complete sentences
Effective transitions between ideas, sentences, and paragraphs
Consistent font color and size
These criteria define an “A” paper:
Writing is clear and coherent
There is no visible mechanical inconsistencies, such as in spelling or
punctuation in the writing
Writing is organized into multiple paragraphs, sections
Writing follows APA/MLA/other conventions and formats (IF using
sources)
Effective and correct use of images and graphs or charts in the writing
(optional)
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