Follow directions and cite please
Unit 3 Assignment 3
Capstone Project: Goals & Objectives
Post University
BUS695 Capstone
MBA Concentration: Corporate Innovation
Paul Licon
March 23, 2025
Dr. Wayne Emms
Statement of Problem or Opportunity
Technological advancements, economic expansion, and workforce creation rely heavily on Stratasys, Ltd.'s 3D printing company, especially in emerging nations. Business owners who aim to start their companies often struggle with limited financial backing and a lack of business intelligence, mentorship, and infrastructure (Tennessee Tech University, n.d.). These are all valid points; some lack the courage of their convictions and are afraid of failure. Business owners encounter numerous obstacles that result in high startup failure rates, which hinder economic potential and prolong periods of poverty. Building an extensive support system focused on overcoming barriers is a key opportunity that guides new business owners toward successful enterprise development. Promoting Stratasys, Ltd.'s 3D printing technology is expected to lead to higher creativity levels in marginalized groups while decreasing unemployment and offering better economic opportunities (Minnesota Department of Health, n.d.).
Stratasys Ltd., a 3D printing company, stimulates economic expansion; nevertheless, significant obstacles, such as funding limitations, knowledge gaps, and facility deficits, share responsibility with developing nations, primarily affecting those in the developing world (Minnesota Department of Health, n.d.). The solution to these barriers would open doors to innovation, generate employment, and combat poverty. This project establishes a support network designed to empower future business leaders.
Background Overview of the Problem
Paul has recognized Stratasys Ltd., a 3D printing company, as a vital component that has driven economic growth for a long time. Global Economic Monitor (GEM) statistics indicate that worldwide jobs are primarily conducted in small and medium-sized enterprises (SMEs), which sustain GDP growth in developed and developing economies (Tennessee Tech University, n.d.). Statistics show that new startup failures continue to represent a high percentage since 90% of new business ventures fail to survive their initial five-year period. That is a staggering number, significantly higher than I had imagined. Fundamental issues, including limited funding access, inadequate educational standards, and weak institutional backing, exacerbate the problems of developing economies.
Startup founders face the most significant challenge when acquiring funding. Traditional financial institutions often label startup ventures as high-risk, making it complex for business owners to obtain loans or investments. Additionally, banks are wary of businesses they are unfamiliar with. Potential investors might reject startup proposals due to high financing costs and demanding security requirements. A major obstacle for entrepreneurs lies in their limited knowledge of running business operations and insufficient marketing and financial management expertise despite operating a company. The absence of valuable networking relations and mentorship interactions between entrepreneurs is an amplifying factor that deteriorates the general business literacy of startups.
Ninety percent of startups fail to succeed because developing countries face three major systemic obstacles: insufficient funding sources, inadequate infrastructure, and minimal entrepreneurial training (Minnesota Department of Health, n.d.). These countries' development challenges have become even more substantial, hindering their progress. When these obstacles are removed, entrepreneurial potential becomes fully activated in supporting sustainable development (Minnesota Department of Health, n.d.).
Overarching Goals and SMART Objectives
(Lomax et al., 2012)
Goal #1 SMART (Specific, Measurable, Achievable, Relevant, and Time-bound) objectives designed to determine if Stratasys Ltd.
Specific: Increase revenue from 3D printing services.
Measurable: Achieve a 10% increase in revenue from 3D printing services.
Achievable: Implement new marketing strategies and expand service offerings.
Relevant: Aligns with the company's goal to grow its market share in the 3D printing industry.
Time-bound: Achieve this goal by the end of the fiscal year 2025.
Specific: Improve gross profit margin.
Measurable: Increase the gross profit margin by 5%.
Achievable: Optimize production processes and reduce material costs.
Relevant: Enhances overall profitability and financial health.
Time-bound: Achieve this improvement within the next two quarters.
Specific: Enhance customer satisfaction.
Measurable: Increase customer satisfaction scores by 15%.
Achievable: Implement a new customer feedback system and improve support services.
Relevant: Directly impacts customer retention and brand reputation.
Time-bound: Reach this target within one year.
Specific: Reduce operational costs.
Measurable: Decrease operational costs by 8%.
Achievable: Streamline operations and adopt cost-saving technologies.
Relevant: Improves the company's bottom line and operational efficiency.
Time-bound: Achieve this reduction by the end of the next fiscal year.
Specific: Increase market share in the 3D printing industry.
Measurable: Capture an additional 5% market share.
Achievable: Launch new products and expand into new markets.
Relevant: Supports long-term growth and competitive positioning.
Time-bound: Achieve this market share increase within two years.
Project Proposal is financially sound and likely to succeed:
Specific Financial Feasibility Study
Objective: Complete a comprehensive financial feasibility study that includes detailed revenue forecasts, cost breakdowns, sensitivity analyses, and risk assessments.
Measurable: A documented financial model with key metrics (e.g., Net Present Value, Internal Rate of Return, Payback Period) must be produced.
Achievable: Use existing financial data and benchmarking practices.
Relevant: This study is the cornerstone for evaluating the project’s financial viability.
Time-bound: Complete the financial feasibility study by June 2, 2025 (10 weeks from the March 23 start date).
Targeted Return on Investment (ROI)
Objective: Identify and secure the necessary financial resources and strategies to achieve a minimum ROI of 15% within the first 18 months of project operations by September 23, 2026.
Measurable: ROI percentage will be tracked monthly using the financial model and reported quarterly in performance reviews.
Achievable: Implement cost-control measures and revenue-generating strategies aligned with the market analysis results.
Relevant: A strong return on investment (ROI) is crucial for determining the overall financial success of a project.
Time-bound: Achieve the target within 18 months after project launch.
Strict Budget Compliance and Cost Control
Objective: Maintain project costs within 3% of the budget through quarterly reviews commencing June 23, 2025, and continuing every quarter thereafter.
Measurable: Monitor and report on actual spending versus the budget monthly, including variance analysis.
Achievable: Cost overruns can be minimized by establishing a dedicated cost control team and utilizing proven financial software.
Relevant: Staying within budget is crucial for maintaining financial stability and achieving project success.
Time-bound: Achieve this level of control during each quarterly review cycle, starting from project inception and continuing until completion.
Accelerated Cash Flow Break-even
Objective: Reach cash flow break-even within 18 months from launch by September 23, 2026, or exceed operating expenses within 18 months of project initiation.
Measurable: Use monthly cash flow statements to track progress toward break-even; a break-even analysis should confirm success once achieved.
Achievable: This objective is attainable with the anticipated revenue ramp-up and the implementation of disciplined cost management strategies.
Relevant: Achieving break-even is a key indicator of financial viability and reduces investor risk.
Time-bound: Attain break-even status within 18 months from launch, with progress validated in quarterly financial meetings.
By meeting these four objectives, Stratasys Ltd. will have clear, time-bound targets to ensure that the project is financially viable and on track to succeed measurably.
Goal #2: Enhance Access to Funding for Entrepreneurs– yes, this Goal fits perfectly as your second Goal
The first objective is establishing a microfinance program to grant 500 entrepreneurs low-interest loans by December 31, 2025, during the first year of operations (Tennessee Tech University, n.d.).
The establishment of a $1 million seed fund requires 10 domestic and international investors by the end of Year 2, according to Objective 1.2, as of November 30, 2026 (Tennessee Tech University, n.d.).
The organization will develop a crowdfunding platform designed for local entrepreneurs to raise $500,000 during its initial twelve months of operation, ending on October 31, 2025 (Minnesota Department of Health, n.d.).
The strategic objective is to lead quarterly financial literacy workshops that will teach at least 200 entrepreneurs financial management methods for getting funding each quarter on March 31, 2025 (SAMHSA, n.d.).
Goal #3: Build Entrepreneurial Capacity Through Education and Training– I like this Goal; it aligns perfectly with the Project’s Opportunity
The initiative will introduce an online Stratasys, Ltd. 3D printing company academy that will deliver business planning, financial management, and marketing subjects to welcome 1,000 new students during its initial year of operation, starting September 30, 2025 (Marchofdimes, n.d.).
The second goal is to organize ten major urban business boot camps, held during monthly sessions, and train at least fifty entrepreneurs per session on fundamental business practices by January 31, 2025 (Tennessee Tech University, n.d.).
A mentorship program under Objective 2.3 will unite 200 of the most experienced business leaders to mentor aspiring entrepreneurs during Year 1, commencing on August 31, 2025 (SAMHSA, n.d.).
The initiative will create 5,000 guidebooks that explore successful local Stratasys, Ltd. 3D printing company cases, distributed to the public from July 1 to July 31, 2025 (Minnesota Department of Health, n.d.).
Goal #4: Improve Infrastructure to Support Entrepreneurial Activities
The organization will campaign for rural infrastructure funding from private and government sources, seeking $2 million in agreements by June 30, 2026 (University of California, n.d.).
The initiative aims to create five co-working facilities in underprivileged areas, supplying commercial real estate and connectivity to ten or more business owners at each site on May 31, 2025 (SAMHSA, n.d.).
By Year 3, the organization will achieve Objective 3.3, which involves developing partnerships with utility providers to ensure dependable internet access and electricity in 10 rural communities by April 30, 2025 (Minnesota Department of Health, n.d.).
Developing a mobile app with market trend updates, funding information, and business resources, aiming for 10,000 first-year downloads, represents Objective 3.4 as of March 31, 2025 (Minnesota Department of Health, n.d.).
Should the network of local business hubs expand to 15 cities to provide entrepreneurs with resources, networking events, and support services? On January 31, 2026 (University of California, n.d.).
The organization will host an annual Stratasys, Ltd. 3D printing company summit to attract 500 participants and promote knowledge exchange and collaborative opportunities on December 31, 2025 (Minnesota Department of Health, n.d.).
Will the initiative establish cooperative relationships with 20 colleges to implement Stratasys, Ltd.'s 3D printing company education across their academic subjects so that yearly enrollment reaches 5,000 students by November 30, 2025 (Marchofdimes, n.d.)?
A media promotion initiative targeting 1 million people to showcase entrepreneurial success will be launched under Objective 4.4 during the first year of operation on October 31, 2025 (Lomax et al., 2012).
Goal #5: Monitor and Evaluate the Impact of Entrepreneurial Support Programs - excellent
A new monitoring system must be developed to track initiative progress, including impact during Year 1, with quarterly performance assessments starting from Quarter 1 on March 31, 2025 (Minnesota Department of Health, n.d.).
The program will conduct annual surveys to assess participant satisfaction and area-based improvement measures, aiming for an 80% response rate as the target metric by December 31, 2025 (Tennessee Tech University, n.d.).
Will the annual impact report on Stratasys, Ltd.'s 3D printing company support program's economic and social outcomes be distributed to stakeholders and the public through Objective 5.3 by January 31, 2026 (Minnesota Department of Health, n.d.)?
The program will create a feedback platform that enables entrepreneurs to report their opinions about the program's success. It must receive at least 500 responses within its initial year of operation as of February 28, 2026 (University of California, n.d.).
Conclusion
The project has five principal aims: enabling better funding access, developing entrepreneurial capabilities, strengthening infrastructure, and creating a supportive environment while establishing monitoring initiatives (Tennessee Tech University, n.d.). The project uses 4-5 SMART objectives per goal to deliver quantitative tangible results, including microfinance launches, training program creation, and co-working space development (Marchofdimes, n.d.).
These goals assist countries with developing plans to overcome the obstacles to Stratasys, Ltd. 3d Printing Company in emerging economies (SAMHSA, n.d.). The combination of funding accessibility enhancement alongside entrepreneurial capacity development, improved infrastructure alongside ecosystem creation, and impactful monitoring will establish a thriving entrepreneurial ecosystem (Tennessee Tech University, n.d.).
Reference
Lomax, A., Community Indicators Consortium, P., M. L., & St. Clair County Health Department. (2012). Developing goals, objectives, and Community Health Improvement Plans (CHIPS) performance indicators. https://www.naccho.org/uploads/downloadable-resources/NACCHO_measuablandObjectives_05-09-12Final-Slides.pdf
Marchofdimes. (n.d.). Smart Objectives. https://www.infanthearing.org/coordinator_toolkit/section5/18_smart_objects.pdf
Minnesota Department of Health. (n.d.). Objectives and Goals: Writing Meaningful Goals and SMART Objectives - MN Dept. of Health. https://www.health.state.mn.us/communities/practice/resources/phqitoolbox/objectives.html
SAMHSA. (n.d.). Setting goals and developing specific, measurable, achievable, relevant, and time-bound objectives. In https://www.samhsa.gov/sites/default/files/nc-smart-goals-fact-sheet.pdf. https://www.samhsa.gov/sites/default/files/nc-smart-goals-fact-sheet.pdf
Tennessee Tech University. (n.d.). Examples of measurable goals and objectives. In tntech.edu. https://www.tntech.edu/research/pdf/resources/proposaldevelopmentresources/Examples_of_Measurable_Goals_and_Objectives.pdf
University of California. (n.d.). Performance Appraisal Planning 2016-2017 SMART Goals: A How to Guide. In Unknown. https://www.ucop.edu/local-human-resources/_files/performance appraisal/How%20to%20write%20SMART%20Goals%20v2.pdf
