Assignment 1: To Build or Buy
Due Week 4 and worth 240
Select a small business that you visit often (e.g., coffee shop, bookstore,
sporting goods store, etc.). Write a 6-8 page paper in which you:
- Craft a brief (1-2 pages) strategy for a business concept that would
directly compete with the small business you selected. Explain the rationale for
the strategy in detail.
- Determine if it would make more sense to open the new business you describe
or to purchase the existing business you selected. Explain your reasoning.
- Discuss the most appropriate form of ownership for your new business
(assuming your current financial situation).
- Outline a business plan for your business. Visit for tools and
- Include at least two (2) references outside the textbook.
Your assignment must follow these formatting requirements:
- Be typed, double spaced, using Times New Roman font (size 12), with one-inch
margins on all sides; citations and references must follow APA or
school-specific format. Check with your professor for any additional
- Include a cover page containing the title of the assignment, the student’s
name, the professor’s name, the course title, and the date. The cover page and
the reference page are not included in the required assignment page
The specific course learning outcomes associated with this assignment
- Analyze the nature of entrepreneurship, business ethics, and social
responsibility in managing a successful small business.
- Analyze a business strategy and supporting business plan for a small
- Describe and analyze the necessary activities and key decisions to start a
- Use technology and information resources to research issues in small
- Write clearly and concisely about small business management using proper
Grading for this assignment will be based on answer quality,
logic/organization of the paper, and language and writing skills
is the link to the rubric to be use as a guide line