BUSN115 Lemonade Stand Assignment

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BUSN115 Lemonade Stand Assignment 
As you have read about in our lecture, we have used a lemonade…

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BUSN115 Lemonade Stand Assignment

BUSN115 Lemonade Stand Assignment

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Week 3:  LEMONADE STAND, PART I

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….

Preview:

For a number of people, their initial foray into business was through a lemonade stand they put up with friends or family when they were still little.  Capital typically came from the parents’ pockets and soon, they found that in order to become successful in their venture, they had to…