1008. Business Plan: Developing Problem Statement - CTE MARKETING

The “Your Business Problem” assignment objective is to help the student clarify one problem their business is solving. Many CTSO competitive events have a written project that start off with introducing the problem a business is proposing it will solve. Projects like the DECA Innovation Plan, Start-up Business Plan, Independent Business Plan, and International Business Plan all must identify the “problem” their business is addressing.

The question the students must answer is “What is a “problem” in reference to a business idea or concept?”

• The “problem” is what the customer has indicated they need by searching for it on the internet; asking for it in the store; completing surveys; and/or altering existing products/services for desired results.
• A “problem” is what a business product or service validates by demand or necessity in the marketplace?

The “Your Business Problem” activity guides the student through clearly defining the problem their business solves.

TIME

This activity is designed to span a 90-minute period inclusive of research, collaboration, development, and observation.

 PRODUCT CONTENT

• Instructional Handout
• Problem Worksheet
• Grading Sheet

MARKETING STANDARDS

TEKS

§130.384. Entrepreneurship

(4) The student identifies the importance of a well-written business plan. The student is expected to:

• (A) identify the need for and the characteristics of a well-orchestrated business plan;

(5) The student explains the goal of a business and its unique proposition. The student is expected to:

• (A) describe the nature of a business and list the marketplace needs that it satisfies;
• (B) explain how a business's products and services meet the needs of the market;

 §130.137. Business Information Management II

(2) The student demonstrates project management processes to conduct a business project using emerging technologies. The student is expected to:

• (A) initiate a project;
• (B) plan a project;

 §130.139. Business Management

(9) The student demonstrates project-management skills to improve workflow and minimize costs. The student is expected to:

• (A) initiate a project, which includes identifying resources needed for a project;
• (B) develop a project plan;

 §130.141. Virtual Business

(2) The student analyzes an overview of starting and growing a virtual business office. The student is expected to:

• (E) prepare a business plan, including the following sections: executive summary, mission statement, long- and short-term goals, marketing plan, financial plan, and organizational plan; and

Become a part of the Marketing EdVenture® community clicking each link below and following.

TERMS OF USE

By purchasing this resource, you are agreeing that the contents are the property of Marketing EdVenture®, owned by Jacqueline P. Walker, and licensed to you only for classroom/personal use as a single user. I retain the copyright and reserve all rights to this product. 

 Thanks so much for spending a moment of your time with me. I look forward to more engagement.

Have a wonderfully blessed day,

Jacqueline P. Walker

Marketing EdVenture®