Wednesday, April 23, 2008
Ashley Carnahan, a Westminster College junior business administration major, won the 2008 David W. Edward Entrepreneurship Scholarship competition.
The competition, conducted by Westminster's Department of Economics and Business and supported by funding from the Edward Trust in Youngstown, Ohio, requires students to prepare and present a business plan depicting the creation of a new or substantially improved business, product, service, or some combination of the three.
Carnahan's business plan detailed the start-up of a bakery with a neighborhood atmosphere in the professional business area of downtown Greensburg, her hometown. Her plan presented a market analysis of the competition and the potential customer base relative to its location, and summarized her expectations with a detailed financial projection covering the first three years of operation.
Carnahan is a daughter of Nick and Barbara Sedunov of Greensburg and a graduate of Greensburg-Salem High School.
The other competition finalists were:
Jessica Hickman, a junior international business major, earned second place for a plan for a hostel and restaurant in Emlenton along the Allegheny River Rails to Trails bike trail. Hickman is a daughter of Dennis and Jane Hickman of Emlenton and a graduate of Allegheny-Clarion Valley High School.
Kyle Pierce, a sophomore business administration major, earned third place with a plan to market a point-of-service software and hardware system for restaurants to improve efficiency, information flow, inventory control, and security. Pierce is a son of John and Sandra Pierce of North Canton, Ohio, and a graduate of Green High School.
"All three plans and their presentations displayed a great deal of thought, thorough investigation, and substantial knowledge of their business environment," said David Smith, Westminster assistant professor of accounting.
About Westminster College...
Founded in 1852 and related to the Presbyterian Church (U.S.A.), Westminster College is ranked 15th among liberal arts colleges, according to the Washington Monthly 2007 Annual College Guide. Westminster is a national leader in graduation rate performance, according to U.S. News Guide to America's Best Colleges, and is one of the most affordable national liberal arts colleges in Pennsylvania. Westminster is also honored as one of "The Best 366 Colleges" and "Best in the Northeast" by The Princeton Review, and was recognized by the Templeton Guide as a "Character Building College."
Nearly 1,600 undergraduate and graduate students benefit from individualized attention from dedicated faculty while choosing from 41 majors and nearly 100 organizations on the New Wilmington, Pa., campus.