Develop an idea for a new Business Venture 1. The business venture should be realistic and of interest to the group. To provide support for the development of the new business idea, assess the busines

Develop an idea for a new Business Venture 

1. The business venture should be realistic and of interest to the group. To provide support for the development of the new business idea, assess the business environment, provide an evaluation of the product's cost strategy. 

2. Presents a financial performance overview for the first 3 years of operation, and evaluate the profitability of this investment.

3. Perform an industry size-up. What are the strengths, weaknesses, threats, and opportunities of your business venture compared to the competition in the industry? (Use SWOT analysis).

5. Prepare a per unit Product Cost Analysis, identifying variable and fixed costs, using Contribution Margin. Discuss the cost method chosen for your business.

6. Prepare three years of projected income statements and balance sheets, and a monthly cash budget for year 1. The projections need to be reasonable. For a guide, use the Sample Final Project Financial Statement (Excel File). 

7. Include discussion of these specific managerial concepts in your final paper as they relate to your business venture: - Cost Classifications (fixed vs. variable, product or period) - Contribution Margin - Cost of Goods Manufactured - Financial Ratio Analysis (Activity, Liquidity, Solvency, and Profitability) - Performance Measurement using RoI and Residual Income

8. Would you launch the new business venture based on the analysis performed? Why or why not? Support your final recommendation.