JWI 575: New Business Ventures And Entrepreneurship Academic

JWI 575: New Business Ventures and Entrepreneurship Academic Submissi

JWI 575: New Business Ventures and Entrepreneurship Academic Submissions and Evaluation © Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University. This course guide is subject to change based on the needs of the class. JWI 575 – Assignment 2: New Venture: Launch Plan Format: Paper Due: Week 6, Day 7 (Weight: 25%)

In this assignment, you will continue your research and planning to design and implement a new product or service. Based on the innovative “big idea” and the vision that you developed in Assignment 1, you will now write a Launch Plan, in which you describe your management structure, launch strategy and impact, team composition, skillsets needed, and funding plan.

Write a Launch Plan Paper of 3 to 4 pages. Also add a short Introduction and Conclusion. Use one of the two outlined formats below, depending on whether your new product or service line will be added within an existing business (Intrapreneur) or launched as a start-up business (Entrepreneur).

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Paper For Above instruction

The task is to develop a comprehensive launch plan for a new product or service, either as an intrapreneur within an existing company or as an entrepreneur starting a new venture. The plan should include detailed descriptions of the management structure, launch strategy, team composition, skillsets needed, and financial projections supported by rationales and assumptions. The paper should be 3 to 4 pages long, with an introduction and conclusion, and formatted according to specified guidelines, including double-spacing and Times New Roman font. Proper citations and references are required.

Introduction

Launching a new product or service requires meticulous planning and strategic decisions to ensure market success and organizational alignment. Whether embedding the innovation within an existing company or establishing a new business, a comprehensive launch plan guides operational, financial, and marketing activities. This paper delineates the essential components of such a plan, tailored to either an intrapreneurial or entrepreneurial context, emphasizing management structure, launch strategy, team dynamics, and financial planning to set the groundwork for successful market entry.

Management Structure and Business Impact

Intrapreneur Option

If the new product or service will be integrated within an existing company, the current legal structure—such as a corporation or LLC—dictates management adaptation. The new line may operate as a dedicated division or a subsidiary, requiring adjustments in management hierarchy. A clearly defined management team overseeing the new product should be established, focusing on integrating it with existing operations. The impact on the business model includes alignment with the company’s mission, vision, and values, or potential adjustments necessary to support innovation.

Entrepreneur Option

For a startup, selecting a legal structure—such as LLC, S-corp, or sole proprietorship—is crucial to define liability, taxation, and management scope. Initial operational location should consider proximity to target markets and resources, whether home-based, rented office, or shared workspace. Strategic location choices influence customer access and branding.

Launch Strategy and Market Entry

Intrapreneur

The introduction of a new product within an existing business should leverage current customer bases and marketing channels. Strategies encompass product development timelines, internal rollout procedures, and coordinated marketing efforts. Evaluating whether the new product enhances existing offerings or attracts new customers informs positioning strategies.

Entrepreneur

A startup’s launch begins with choosing a geographic target area, often starting local to test market viability. Community engagement, launch events, local advertising, and digital marketing campaigns form the core. Establishing a brand presence through social media, local press, and partnerships facilitates initial customer acquisition.

Team Composition and Skillsets

Intrapreneur

The team should comprise individuals with expertise in product development, marketing, finance, and operations. Roles include product managers, engineers, marketers, and support staff. Access to specialized skillsets may involve hiring or leveraging existing talent, supplemented by training or external consultants.

Entrepreneur

Key management members, such as a CEO, marketing director, and operations manager, must possess entrepreneurial, managerial, and industry-specific skills. Additional talent may be contracted or hired to fill expertise gaps, ensuring the team can develop, launch, and scale the business effectively.

Financial Projections and Assumptions

Intrapreneur

Financial summaries include projected income statements over three years, reflecting revenues, costs, and profitability. Assumptions hinge on market research, historical data, and organizational capabilities. Supporting rationales justify revenue growth expectations and cost estimates based on realistic market penetration and operational efficiencies.

Entrepreneur

Start-up financials forecast revenues, expenses, and profits across three years, supported by assumptions about customer acquisition rates, pricing strategies, and cost management. Rationales emphasize market demand, scalability, and resource allocation, providing a basis for financial viability and investment needs.

Conclusion

Developing a thorough launch plan is essential for guiding the introduction of a new product or service. Whether operating within an existing organization or creating a new enterprise, strategic management, targeted marketing, a competent team, and sound financial planning are fundamental. A well-structured plan enhances the likelihood of market success, supports organizational growth, and aligns operational activities with overarching goals.

References

  • Barney, J. B., & Hesterly, W. S. (2019). Strategic Management and Competitive Advantage: Concepts and Cases. Pearson.
  • Ries, E. (2011). The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses. Crown Business.
  • Kotler, P., & Keller, K. L. (2016). Marketing Management (15th ed.). Pearson.
  • Blank, S., & Dorf, B. (2012). The Startup Owner's Manual: The Step-by-Step Guide for Building a Great Company. K&S Ranch.
  • McGrath, R. G. (2013). The End of Competitive Advantage: How to Keep Your Strategy Moving as Fast as Your Business. Harvard Business Review Press.
  • Schumpeter, J. A. (1934). The Theory of Economic Development. Harvard University Press.
  • Hisrich, R. D., Peters, M. P., & Shepherd, D. A. (2017). Entrepreneurship (10th ed.). McGraw-Hill Education.
  • Chesbrough, H. (2006). Open Innovation: The New Imperative for Creating and Profiting from Technology. Harvard Business School Publishing.
  • Osterwalder, A., & Pigneur, Y. (2010). Business Model Generation. Wiley.
  • Ulrich, D., & Brockbank, W. (2005). The HR Value Proposition. Harvard Business Review, 83(1), 140-147.

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