This report contains ideas about my ideal Capstone project, and explanations of why I decided to choose the three following topics; Opening a Franchise, Buy Stocks, and Fashion Store. The topic picked fall into my own vision and goals for the future after finishing with the MgBA program. This report was written in order to help me clear my mind with ideas that I believe are the most effective to create a valuable Capstone project with my own interests. This report also helped me to identify possible candidates that will be my mentors and give me guidance to complete a successful project.
Context I am completing this assignment because I would like to have a Capstone project that fits my interests and to keep me motivate towards my dreams. By doing this report, I want to be well prepared for the Capstone project and I want to exceed my expectations of learning in this class and in the overall Master of Global Administration degree. After developing this report, I expect to have a clear idea of the topic that I will be choosing for the Capstone project and what resources I need in order to achieve a successful project.
My vision for the future is to be able to own a business or to start up a business. Introduction The Master of Global administration degree is preparing me for the real business world experience. By understanding the global cultures, it is easy to understand customers’ needs, because not everybody likes the same. Customers are one of the most important parts of a business, without customers a business is nothing. By studying global cultures, I have more opportunities to expand my own business in other countries. The capstone project will give the opportunity to practice my skills learned through the MgBA program and put them into a real business experience project.
Objectives: – To create a viable business plan propose – To integrate acquired knowledge and skills into the business plan proposal – To solve business problems: evaluate business, formulate and apply solutions – To gain experience to enable decision making – Effective oral, written and communication skills – Business knowledge of marketing, operations, information technology, finance, accounting, statistics and quantitative analysis – Team participation and leadership I am presenting three topics of my own interest that I would like to learn how to succeed in those projects. First of all, I will be presenting my three topics to my business Capstone class professor, for him to guide me for the best topic option.
After analyzing the three topics of interest for the Capstone project, I will pick the most challenging one, so I can get and learn the most of the project and maybe in the future, to convert the capstone project on a real business project. After I pick a topic, I expect from my professor to help me contact my mentor, to communicate effectively with others, and to work closely with me in the project. I expect from the faculty supervisor to help me find important resources to collect useful information, to examine, evaluate and develop strategies for my Capstone project. I expect from the business mentor to guide me in the right way and to teach me real business world experience and business practices.
And I expect from the director of the MgBA program to motivate me, to communicate and to give me advice if I need it. Faculty Supervisors – Jeremy Spencer; I am not sure what are his topic of interest. But he taught me two classes in my undergrad; Managerial Accounting and Supply Chain Management. – Alex Steenstra; He majored in Global Economics. Evaluation Criteria Capstone Project Ideas : – Opening a Franchise – Buy Stocks (company to be determined) – Fashion Store – Multinational Corporations – International Business and Business Law – Cross cultural management and its effect on productivity I evaluated each of the ideas presented for the Capstone project.
My evaluation criteria is based on project difficulty, resources, own interests, expectations, and project requirements. My justification in choosing the three topics is based on self-interest and life goals. Potential Capstone Topics Capstone Topic 1 Opening a Franchise Opening a Franchise is an opportunity to start a business that is not going to compete in the market, because the brand is already out there. Franchises have a business model created, and sometimes it is easier to open a business that it is already in the market.
By learning how to open and run a franchise will teach me essential skills that will help to later create my own brand and my own franchise. I will choose to open a franchise related to the type of business that fills my interests. In some cases, franchises have a higher rate of success than start-up businesses and some of them cost less than startups. Franchises offer pre-opening support and ongoing support. I believe I will learn a lot about the businesses environment by doing a Capstone project in this topic. Possible faculty: Jeremy Spencer Possible mentor: Still looking for the perfect candidate, once I decide what type of franchise I will like to buy.
Capstone Topic 2 Buy Stocks Investing in the stock market, it is something that I will like to learn about it, so I can invest money in a smart way. It is a very tentative option for me to start investing money in buying stocks. I will like to learn how to start buying in this market, and what are the most convenient business to buy stocks from. I know it is a 50/50 chance to lose or win, but I like and enjoy challenges, and I believe this is one.
The capstone project will help me to prepare and do research about the stock market, to learn about risks, fraud, scams, types of stocks, buying tips, analyses and prices. I am really interested in learning all of this, and possibly to start investing some money in that. By doing the capstone project in this topic, it will help me find potential profitable stock, and at the same time, I will learn a lot about finance and economies. Possible Faculty: Alex Streenstra Possible Mentor: Someone that owns stocks and it is experienced in this market.
Capstone Topic 3 Fashion Store I enjoy fashion, and I am always searching and getting updates about what is new in the fashion world. I will love to be my own boss, and own a business. I will like to open a Fashion store that offers the customers a unique experience while shopping at my store. Starting from the decoration, personnel, and quality of products. I believe it is important to offer quality to costumers with an accessible price where most of the people can buy my products. I can even open a web page for customers to buy online within the U.S, and in the future open the business for other countries to shop online.
There are many ideas that I have in mind to make my store different than other retails. Probably this idea is the most challenging one, but the capstone project can help to find all the possible resources that I need to make a start up business. Possible Faculty: Rakesh Pangasa (Can we chose the instructor of this project?) Possible Mentor: A professional that has a startup local business.
Conclusions I feel satisfied with the three topics that I chose for the Capstone project. After developing this report, my mind is clearer about my interests and what would be my ideal Capstone project. This report helped me to reduce my seven topics option to only three topics option. This written report helped me to have a more organize capstone project, and to realize that there is a lot to do, and I should start working in all the steps. After developing this report, I feel more secure, determined, and excited about the Capstone project.