The overview: the concept is to come up with a financial literacy application to students in high school so that when they leave school they are knowledgeable about finances. The name of the company (made up) is Noremak
MBA 560 Milestone Three Guidelines and Rubric MBA 560 Milestone Three Guidelines and Rubric Overview: This milestone establishes a system to evaluate the ongoing success of a product or service as the marketplace and company dynamics evolve. This involves establishing measurable criteria of specific activities and mechanisms to assess current systems and branding efforts as well as provide feedback to the proper departments and individuals so that needed changes can be implemented. This relates to the final project because it is a means to ensure the mission of the organization is continually pursued and that product or service offerings are both aligned with the mission and provide customer value. The mechanism enables the planning process to maintain its dynamic nature while staying on the course to follow the mission of the organization. Prompt: Use headings within your paper that correspond with each portion of the rubric. Specifically, the following critical elements must be addressed: Refinement Using the idea that you have chosen, write a short paper covering the following: o Establish procedures for the qualitative and quantitative measures you will utilize and when will you use them to help you evaluate the success of the new product or service and its branding. Be sure to suggest processes that occur at regular intervals and extend across the business, explaining how results will affect decisions on whether to continue or to initiate exit strategies. Include how you will utilize both qualitative and quantitative methods for decision-making. o Specify what regular, five-step feedback loops and processes will you implement to support the new idea, keep it on track, and make mid-course corrections as needed. For example, will you adjust business functions and/or facilitate regular communication across departments? How will you collect relevant information and ensure its accuracy? o In planning for the future, determine procedures for how you will identify and integrate other factors that might affect implementation of your new idea into your business decisions and planning? In other words, what other things do you need to consider when moving forward, especially concerning your competition? Writing When drafting your paper, consider the following: o The writing should be clear and correct. There should be no major errors of grammar, spelling, organization, or citation style. o Remember to use headings within the paper that correspond with each portion of the rubric. Rubric Guidelines for Submission: Submit your completed milestone as a Microsoft Word file with double spacing, 12-point Times New Roman font, and one-inch margins. The recommended length for this milestone is 8 to 10 pages (plus a title page and references). The final project will be about 30 to 40 pages. Sources should be cited according to APA style, with a reference section and in-text citations. Critical Elements Proficient (100%) Needs Improvement (70%) Not Evident (0%) Value Refinement: Evaluate the success Establishes business-wide qualitative and quantitative procedures for evaluating success of new product or service at regular intervals, explaining how results will impact decisions on whether and how to continue or exit Establishes procedures for evaluating success, explaining how results will impact decisions to continue or exit, but procedures do not extend across business, are not both qualitative and quantitative, do not occur at regular intervals, or are not reasonable for making business decisions Does not establish qualitative and quantitative procedures for evaluating success of new product or service, explaining how results will impact decisions on whether and how to continue or exit 30 Refinement: Feedback Loops Specifies regular, five-step feedback loops and other processes to support the new idea, keep it on track, and make mid-course corrections as needed Specifies feedback loops and other processes to support the new idea, keep it on track, and make mid-course corrections as needed, but procedures are not five- step, do not occur at regular intervals, or are not reasonable for making business decisions Does not specify feedback loops and other processes to support the new idea, keep it on track, and make mid-course corrections as needed 30 Refinement: Other Factors Determines procedures for identifying other factors that might affect new idea and integrating them into decision-making and planning Determines procedures for identifying and integrating other factors that might affect new idea into decision-making and planning, but procedures suggested are cursory, illogical, or are not well-suited for improving performance Does not determine procedures for identifying other factors that might affect implementation of new idea and integrating them into decision-making and planning 30 Writing Submission has no major errors related to grammar, spelling, organization, or citation style Submission has some errors related to grammar, spelling, organization, or citation style that negatively impact readability and articulation of main ideas Submission has critical errors related to grammar, spelling, organization, or citation style that prevent understanding of ideas 10 Earned Total 100% MBA 560 Milestone Three Guidelines and Rubric Rubric Running head: Final Business Development Plan 1 5 10-1 Final Business Development Plan 10-1 Final Project MBA 515: Business Environment, Innovation and Entrepreneurship Southern New Hampshire University August 27, 2020 Abstract This paper aims to conduct a research paper, on a market domain in an effort to examine the SWOT analysis, PEST analysis, intrapreneurial and entrepreneurial opportunities of Noremak. It will also look at the objective of delivering financial literacy to schools and other factors that are used to effectively evaluate a business. 10-1 Final Project Introduction The market domain I chose will be looking at offering financial education to high school students. The name of the company offering the service is Noremak, which is a fairly new organization entering the market. Overview: Historical Significance In the United States, the education system has different branches. It comprises of early childhood, middle school, high school, tertiary and post-secondary. I have decided to look at delivering financial education services to high school students. Background Info At the early childhood level, it consists of 2 sub-components: the pre-kindergarten (pre-k) and kindergarten. The pre-k is not compulsive, and it starts at ages 3 or 4. At this level, the students' learning incorporates basic mathematics, science, how to understand emotions, social studies. Classes are normally held two or three times per week; however, this varies from state to state. There is also the component of the Kindergarten, which falls under the early childhood level, however, the age range is from 3-5 years old it is an additional layer to reinforce the fundamental previously mentioned subjects (Corsi-Bunker, 2010). Middle school, which is also referred to as elementary school contains students between 6 years - 12 years old. At this stage, students tend to get exposed to the fundamentals of reading, writing, mathematics, social studies. A typical class normally has 20 or 30 students and 2 teachers. These years are the prepping years for college (Corsi-Bunker, 2010). At the high school level, the grades are 9th through 12th grades and the age range are 14 - 18 years old. The basic courses taught at this stage are history, government, geography, sociology, and social problems. Some students also take college-level courses at this level (Corsi-Bunker, 2010). Students are not able to get onboard in post-secondary education, without completing high school education. Furthermore, at this stage students also chart their way to colleges by taking Scholastic Aptitude Tests (SAT) or American College Test (ACT), which weighs to their admission (Corsi-Bunker, 2010). The Rationale of Selecting & Entering into High Schools of USA Within the high schools in the USA, there is a very low rate at which financial literacy is being taught (Carrns, 2020)