December 09, 2008
Bowling
Green, Ky. - Students enrolled in the J.L. Marshall Living Learning Community at Western Kentucky University had an opportunity to participate in a business plan competition offered through Marshall Capital Management Group (MCMG). The plans will be used in the “MiniMoguls: Lessons on Money Management” series offered through MCMG.
The MiniMoguls series was designed for youth to increase their 
awareness and understanding of financial concepts as they apply to real-life situations. The competition provided a platform for identifying, nurturing and showcasing future business students at WKU while assisting in this venture.
Clayton Hudgins of Lexington, Megan Martini of Cincinnati and Ashley Rice of Vine Grove won the J.L. Marshall Business Plan Competition. The plans from each group were evaluated based on innovative thinking, well developed plans, and the ease of implementation by a 9 to 15 year old.
Students enrolled in the Gordon Ford College of Business J.L. Marshall Living Learning Community were challenged to develop business plans for four types of ventures that children between the ages of 9 and 15 could implement. Students were asked to develop a two-page business plan for a lawn mowing service, car washing service and an iPod maintenance service. The fourth business plan could be an original idea of the students.
Although students participating in the Living Learning Community are only freshmen, with virtually no experience in writing business plans, 10 students participated in the competition. The students paired up in four groups that made presentations to J.L. Marshall as well as faculty and staff within the Gordon Ford College of Business on Nov. 20.
The students’ individual business plan ideas consisted of tutoring and knowledge coach, dog wash and walk, growing and selling produce, Facebook and Myspace profile set-up, and golf cart shuttle service during major sporting events.
The competition served as an integrative learning experience for students. Those participating in BA175 (University Experience Business) applied practical application of course material pertaining to entrepreneurship and business plans. COMM 161 (Business and Professional Speaking) students delivered their business plan proposals to a panel of judges. The students explained their plans and the viability of implementation.
The winning team received the $1,000 Marshall Prize named after the program’s benefactor, J.L. Marshall, a WKU finance alumnus and successful entrepreneur.
The business plans developed by the J.L. Marshall Living Learning Community students reflect real opportunities for youth to implement; however, there is no obligation that the winning plans be used in the MiniMoguls program. More important is that the participants learned about the new venture creation process through their team’s efforts, their work with faculty and staff, and their presentation to the judges.
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For information, contact Lynn Minton at (270) 745-6311.
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