Background As you have read about in our lecture, we have used a
lemonade stand to help us understand some basic concepts of
business. As we pointed out, a lemonade stand has a simple business
structure; yet, it can help us understand almost every function of
a firm; such as marketing, operations, finance, technology,
entrepreneurship and many other aspects. In our two assignments in
this course, you will own and operate your very own lemonade stand
as you apply the knowledge you have learned from the course.
Scenario You have decided to open a lemonade stand in your local
neighborhood. You have grand plans for this stand and expect to
attract many customers. In part I of this assignment, you will
develop the basic premise of your new company. Please answer the
following questions, utilizing the textbook, to ensure you apply
the lesson we have learned in the previous weeks. - Develop a
creative name for your Lemonade Stand, and then explain why a name
is important when you are considering branding options? - Create a
Mission Statement for your Lemonade Stand (Chapter 7); then explain
why a mission statement is important for any company? - You are
very involved in your community; please outline your CSR plan
(Chapter 4) for your business. - The textbook lists many different
types of pricing strategies, please pick one of these and explain
how you will deliver on this strategy with your stand. (Chapter 14)
- Even though you only sell to local customers, you understand that
you could package your lemonade and sell it online globally.
Evaluate whether or not the company should go global by creating an
online presence and selling your lemonade online (Chapter 3).
Activity You are to write roughly 500 words in answering all
questions posted above for your Lemonade Stand. (Please note: you
may list the questions in your paper and answer these in a step by
step process, but the word count will only apply to your written
words).
The paper needs to be written in an APA format and should have
at least your textbook listed as a scholarly source in your
bibliography. Please view the APA tutorial in your syllabus for
more on how to format your paper. Your paper should include a cover
page and running header as stipulated by APA formatting.
This paper will be evaluated on how you apply the concepts that
are detailed in the textbook to a practical idea. In order to
receive the highest grade, it is encouraged that you review the
textbook and cite specific area of the text in your responses
(taking care in citing these properly). Additionally, while this is
not an English class, grammar will account for a portion of your
paper. Please take care in writing a well develop response.
Note: For this paper and other papers that you will write in
college, please note that when you reference or cite a text, if you
use words that are directly from a source, they must be in
quotations and cited. If you are just referencing them and have
changed the words, a citation is all that is required. One final
point, when writing anything in college, you must adhere to the
80/20 rule: 80% of the papers should be in your own words, while
20% make up any citations you may add. Violation of this rule could
result in a zero for the assignment.
