check attachments before bidding<\/p>\n
Assignment due Monday, March 4, 2024 by 11:00pm
\nOverview<\/p>\n
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The main aim of the assignment is for you to apply your knowledge of economics within the context of a business transformation (fashion company), whilst making interdisciplinary connections and inferences about the real-world context this hypothetical business finds itself in.<\/p>\n
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Guide<\/p>\n
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You will already have received much of the advice for this assignment from your professor during the lab in week 4. You were provided with a number of suggested headings as a guide for structuring your business plans, but there is no expectation that you use the exact wording. You are at liberty to choose whatever headings you deem appropriate as, in the real world, every business plan is slightly different in its emphases.<\/p>\n
The headings we have suggested are as follows:<\/p>\n
\u2022 Introduction (Background, mission, and values).<\/p>\n
\u2022 Past and future demand and supply analysis (factors shifting demand and supply, two supply side graphs, and two demand side graphs). Find resources supporting your graphs.<\/p>\n
\u2022 Market analysis (type of market structure you will try to compete in and why). Find resources supporting your market analysis.<\/p>\n
\u2022 Pricing strategy (use elasticity and market power).<\/p>\n
\u2022 Risks and potential problems (consider the social costs of fast fashion and externalities).<\/p>\n
\u2022 Summary and conclusions.<\/p>\n
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You must use the economic concepts we discussed during class to explain all points included in your business plan (e.g., elasticity, demand, supply, factors affecting demand or supply, opportunity cost, production costs, market structures, etc.). You will be graded on #LO1_DefineEconomics here. For example, how do you think elasticity will affect your pricing strategy? In which market structure will you be competing and why?<\/p>\n
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You have to create your business plan based on real-world data. Find resources about the fashion industry that help you develop a consistent business plan. You will be graded on #LO3_RealWorldEcons here. For example, how do companies try to distinguish their brand from other companies?<\/p>\n
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Finally, you will have to verbally present your plan to the rest of the class and answer some questions about it. You will be graded on #LO5_CommunicateEconSolutions here.<\/p>\n
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Summary<\/p>\n
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The final document you have to submit is a PDF, including your business plan as a presentation (ppt). You will have to present your plan in class and answer questions about it. As you write your business plan, focus on applying the economics concepts you learned during class to every aspect of your business.<\/p>\n
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Your presentation will have a time limit of 6 minutes plus 3 minutes of questions.<\/p>\n
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Grading will be based on the content of your slides and your in-class presentation.<\/p>\n
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Finally, be sure to familiarize yourself with the assessment rubric for this assignment (rubric link) before you start work on it.<\/p>\n","protected":false},"excerpt":{"rendered":"
check attachments before bidding Assignment due Monday, March 4, 2024 by 11:00pm Overview \u200b The main aim of the assignment is for you to apply your knowledge of economics within the context of a business transformation (fashion company), whilst making interdisciplinary connections and inferences about the real-world context this hypothetical business finds itself in. \u200b […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","template":"","meta":[],"disciplines":[43],"paper_types":[],"tagged":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.writemyessays.app\/blog\/wp-json\/wp\/v2\/questions\/12871"}],"collection":[{"href":"https:\/\/www.writemyessays.app\/blog\/wp-json\/wp\/v2\/questions"}],"about":[{"href":"https:\/\/www.writemyessays.app\/blog\/wp-json\/wp\/v2\/types\/questions"}],"author":[{"embeddable":true,"href":"https:\/\/www.writemyessays.app\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.writemyessays.app\/blog\/wp-json\/wp\/v2\/comments?post=12871"}],"version-history":[{"count":0,"href":"https:\/\/www.writemyessays.app\/blog\/wp-json\/wp\/v2\/questions\/12871\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.writemyessays.app\/blog\/wp-json\/wp\/v2\/media?parent=12871"}],"wp:term":[{"taxonomy":"disciplines","embeddable":true,"href":"https:\/\/www.writemyessays.app\/blog\/wp-json\/wp\/v2\/disciplines?post=12871"},{"taxonomy":"paper_types","embeddable":true,"href":"https:\/\/www.writemyessays.app\/blog\/wp-json\/wp\/v2\/paper_types?post=12871"},{"taxonomy":"tagged","embeddable":true,"href":"https:\/\/www.writemyessays.app\/blog\/wp-json\/wp\/v2\/tagged?post=12871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}