Starting a New Business essay
Order ID |
53563633773 |
Type |
Essay |
Writer Level |
Masters |
Style |
APA |
Sources/References |
4 |
Perfect Number of Pages to Order |
5-10 Pages |
Description/Paper Instructions
Starting a New Business essay
Directions: Read the entire case study below. Your task is to answer Questions 1, 2, and 3 (the ones in italics). Make sure you understand the case carefully before starting to answer the questions.
SCENARIO:
Kelly Lee and Noah Walker meet in a marketing class and recognize they have two things in common. First, they enjoy working with animals. Kelly’s family breeds Irish Setters, and Noah works part time in a veterinary office. Second, they both want to be entrepreneurs. After some initial market analysis, they decide to collaborate on creating a pet daycare center, Pet Haven, which will offer daily workouts for animals, hourly playtime, petting with individual handlers, and clean and roomy cages or containment areas. To get Pet Haven up and running, Kelly and Noah realize they must persuade either a bank or other investors to give them a small business loan. Then, they must persuade potential customers to use their service.
Persuading Lenders to Fund a Loan
When Kelly and Noah go to the bank to discuss a loan for Pet Haven, the banker is interested in the idea but tells them their interest rate will be very high because they have an insufficient credit history and no collateral for the loan. To secure a more reasonable rate, he suggests they ask parents/relatives to co-sign the loan application. In other words, their parents would have to agree to repay the loan if Kelly and Noah could not. They decide they need to convince their parents that Pet Haven is a sound financial idea. To prepare for these meetings, they brainstorm a list of questions their parents could ask:
- Are you ready to run a business?
- What services will you provide? How do you know these are the right services? What will you need in order to deliver these services?
- Who is your customer base? Are there enough customers to support your business?
- What is the competition in our city? What will you offer to make you stand out?
- Have these kinds of pet daycare businesses been successful in other towns?
- How will you market your services to your customers? How will you communicate and what will you communicate?
- What kind of licensing and credentials do you need?
- Do you have a location yet?
- What will the start-up costs be for leases, employees, advertising, equipment, etc.?
- What size loan do you need? How will you repay it from cash flow?
- Why don’t you get a job first and get some experience? You can open the business later.
QUESTION 1: In 250-300 words, explain how Kelly and Noah can persuade their parents successfully? Think about:
- What questions require a logical argument, using claims, reasons, and evidence?
- How should Kelly and Noah gather information to support arguments?
- How can Kelly and Noah establish credibility about their ability to run a business and repay a loan?
- What kinds of emotional appeals might be effective as part of their argument to their parents, to motivate action?
Identifying Benefits and Objections
Based on Kelly’s and Noah’s persuasive business plans, agree to cosign the loan. However, they insist that Kelly and Noah begin to market their business before graduation. As a next step, Kelly and Noah decide to learn more about their potential customers:
- What do they know about pet daycare services?
- What benefits will they perceive from the service?
- What objections and concerns may prevent them from using the service?
QUESTION 2: How can Noah and Kelly learn this information? What would you do?
- Search the internet for animal or pet daycare centers. Select at least two companies and read their websites thoroughly. List the customer benefits that each company stresses. Which benefits seem most compelling? What benefits would you recommend Noah and Kelly stress? Can you think of other potential benefits that you did not read about in competitors’ websites? (150-200 words)
- What kind of objections might pet owners raise about the pet daycare concept? What may prevent pet owners from using Pet Haven’s services? What will convince them to send their pets? For each objection or question, give Kelly and Noah ideas about how to anticipate those issues in their marketing materials. What objections should they refute and how? What objections might they concede and how? (150-200 words)
Using Social Media to Persuade
Noah and Kelly understand that they can reach a broader audience and be more persuasive if they use social media in addition to a website, but they have not yet focused on how best to use social media.
QUESTION 3: Identify at least two ways that Noah and Kelly can use social media to persuade potential customers. Explain why these would be effective. (200-250 words)
Adapted from Business Communication: Polishing Your Professional Presence (2nd Edition)
by Barbara Shwom and Lisa Snyder
RUBRIC
QUALITY OF RESPONSE |
NO RESPONSE |
POOR / UNSATISFACTORY |
SATISFACTORY |
GOOD |
EXCELLENT |
Content (worth a maximum of 50% of the total points) |
Zero points: Student failed to submit the final paper. |
20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. |
30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. |
40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. |
50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. |
Use of Sources (worth a maximum of 20% of the total points). |
Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. |
5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. |
10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. |
15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. |
20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. |
Grammar (worth maximum of 20% of total points) |
Zero points: Student failed to submit the final paper. |
5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors |
10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors |
15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. |
20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. |
Structure of the Paper (worth 10% of total points) |
Zero points: Student failed to submit the final paper. |
3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. |
5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper |
7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. |
10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. |
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