Results of Business Plans checking and grading

I spent Christmas eve, Christmas, and post Christmas checking and grading the business plans. I merely checked the completeness:   20 pts each for Enterprise Delivery System,  FS,  Sales estimate (macro and micro market analysis),  10 pts each for business concept and business model, business objectives, and product <-->customer;   5 pts each for exit strategy and conformance to regulations.  Some papers missed out parts completely;  some are incomplete.  The last tw,o since they are the latest part of the BP, the end game, have been for most papers are wanting.

Some did not follow the format:   were not 40 pages or more, some were in power point.  This is the rigor in entrepreneurship.  There is the right format and completeness in form that must be followed.  The VC out there are ruthless;   more so than the academics.  Some think this can be winged.  If we cant be detailed and meticulous in this academic exercise, then it cant be done in real life and most likely the venture will fail.

Innovation and entrepreneurship is not just about innovation;   and innovation is not just about creativity and new ideas;   letting a thousand flowers bloom means you have to have flower culture -fertilization, weeding,  watering.  In entrepreneurship, it means knowing about processes, analysis, data -  rigor and discipline.

Learning to write  a business plan is an important business skill that must be learned by Masters -future guru of business (why are they called masters anyway if they can not write a business plan).  It is a preparation for strama.  Most of entrep students who breezed through the BP say writing a strama has been a walk in the park.

Congratulations to Mariko, Marta, Lei, and Rhea who wrote good business plans

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Developments at USA to watch - they affect world economy

The US solons have been working overtime, yesterday, December 3l, 2012 to resolve the fiscal cliff:  the end of  tax break and start of budget cuts.  Many fear that if unresolved, US could go on fiscal tailspin.  There were news that a compromise draft  bill has been reached.  And the the Indian stock market responded positively;  it had less than l% increase yesterday.   Indias major trading partner is US and would be affected very greatly by what happens in US.

The other problem that must be resolved is the debt ceiling law.  The last one was approved last Aug 2, 2011. (the  $14.2 trillion limit was reached last July 2011)  Its limit of $l6.4 trillion would be reached in two months time (possibly March).   CNN says it has been breached as of yesterday, New Years Day-

Many say that the fiscal cliff is  not the problem:  the major, mountain of debt is the problem!