When putting up a business project, you want to avoid the following problems.
The business capstone’s capacity to think strategically and to use investigative and specialised knowledge are two of the words used to characterise it. These words allude to the project’s intricacy. For instance, it is not a good idea to create a project that just summarises what occurred at a certain business. For instance, although it may be fascinating to discuss how Qantas survived the GFC, this alone is insufficient for the business capstone project.
Occasionally, projects are oversimplified because the student is attempting to take the ‘bare minimum approach.’ The student may attempt to accomplish just what is necessary to pass. That mindset is incompatible with the way a business capstone project should be approached. The business capstone project is more about putting in the most amount of work possible than it is about putting in the least amount of effort feasible.
Lack of Application of Theory to Practice
Because you have advanced through business courses, it is anticipated that you will bring a great deal of theoretical knowledge to the business capstone. You should be able to apply your theoretical knowledge to practical problems by the time you complete the business capstone. Without this, the criteria for the business capstone are not met.
Inadequate application of ideas occurs at two extremes. At one extreme, the idea is entirely theoretical with no applicability. On the other hand, the description of experience without the use of theory to examine that practice is extreme. Steer clear of both extremes.
As previously said, analysis is the process of dissecting a problem into its constituent pieces in order to comprehend it. As a result, a superficial analysis is one that does not go deeply enough into the subject. For instance, there are many variables that influence financial success. If you do analysis only on the income statement, your analysis may be insufficient.
It is important to distinguish between critical and descriptive analysis. Critical analysis is needed for the Business Capstone.
Recommendations are critical. Because the business capstone project is real-world in nature, the assumption is that it will result in real-world implementable suggestions.
Keep in mind that suggestions must flow naturally from the analysis and be justified within the context of your results. For instance, until you discover that a company’s board of directors lacks the necessary abilities to manage the business successfully, it is unlikely that you would suddenly suggest expanding the board’s skill set. While it seems like an excellent suggestion, it is unjustifiable in light of the results.
Additionally, bear in mind that suggestions should be particular, not broad. For instance, if you suggest that the business adopt a competitive strategy, you have accomplished nothing. That is something that every business must accomplish. Rather than that, suggest a method or leave it out entirely.