BUSN 278 WEEK 2 Please see the Course Project content item under Course Home. The draft for Project Section 2.0 is due this week. Submit your assignment to the Dropbox, located at the top of this page. For instructions on how to use the Dropbox, read these step-by-step instructions. See the Syllabus section “Due Dates for Assignments & Exams” for due date information. Student Project Activity â€“ Week 2 A. Week 2: Budget Proposal Section 2.0 Sales Forecast B. TCOs Addressed: TCO 5: Given a new business startup or new product introduction and the need to make a forecast when historical data is not available, create the forecast for the organization. TCO 10: Given a description of a new business, new product, service or project develop, present and defend the budget. C. Project Activity Overview â€“ Scenario / Summary: Last week, you selected a business for which youâ€™ll make a budget proposal. Your first step is to create a sales forecast (in sales dollars) when no historical data is available. Use methods such as historical analogy, expert judgment, consumer surveys, the Delphi method, or calculations based on population distributions, estimated growth rates, or expected market penetration rates to arrive at reasonable sales figures for your business for the next 5 years. Use the Budget Proposal Workbook.xlsx and Budget Proposal Template.docx. D. Deliverables: Complete Section 2.0 (including sections 2.1 and 2.2) in the Budget Proposal Template.docx after doing research and performing calculations to arrive at your 5 year forecast. Also, provide calculations in the Budget Proposal Workbook.xlsx. Add section 2.0 to your Budget Proposal Template and save it as YourName_Project_WK2.docx. Save your sales forecast in the worksheet tab labeled Section 2.1 and 2.2 as YourName_Worksheet_WK2.xlsx and upload both files to the Week 2 Project Dropbox. E. Project Tasks: Task 1: Download Budget Proposal Workbook.xlsx from DocSharing. Task 2: Research the area in which your business is located, and do calculations in the Excel workbook which produce a reasonable dollar value forecast based on population size, growth rates, an estimate of the percent of the population expected to purchase your product, and the dollar value of the average sale over the 5 year planning horizon. Do these calculations in the Section 2.1 and 2.2 tab of the Budget Proposal Workbook.xlsx. Also, feel free to use other methods described in this course you feel are appropriate to estimate sales for your new business startupâ€™s first five years. Task 3: Write section 2.1 and 2.2 of the Budget Proposal Template.docx document, summarizing your forecast in a table, and also describing and justifying your methodology for arriving at the sales forecast. Follow the instructions in section 2.0 of the Budget Proposal Template.docx when writing these sections. Also, update your works cited Section 6.0 in the template with any research you did. Task 4: Paste the first paragraph of the 1.0 Executive Summary template into the Budget Proposal Template.docx so your professor is reminded which business youâ€™re doing. Task 5: Save the draft of the Budget Proposal Word document and Budget Proposal Excel calculation and submit it to the Week 2 Project Dropbox. F. Grading Criteria Description Suggested Points There is a 5 year sales forecast in the Word document Section 2.1 and the Excel spreadsheet (in sales dollars). 2 The 5-year forecast appears to be based on research, reasonable assumptions, and methodologies described in the course based on the description in section 2.2 of the template. 4 The 5-year forecast calculations appear to be correct. 4 Total Points 10 points END OF WEEK 2
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