This writing assignment focuses on the principles of the foundation of businesses’ including Business Functions, and how this affects different aspects of the company. Business Ownership, Business Environments, Business Ethics, Financial Statements, and Business Technology all affect how businesses operate and succeed. Further, the student can describe how these business components contribute to the organizational mission and goals.
Organizations, large and small, are important to commercial existence. Every organization, regardless of size, needs to operate. The most important part of an organization is its people. Giving them the right tools to succeed is paramount. But it’s also a business. Having a solution that can meet the needs of employees and the business at the same time will synchronize their goals and lead to happier, more effective work. Training, education, and learning all refer to a similar process: it is the process that enables people to acquire new knowledge, learn new skills, and perform behaviors in a new way.
· You are about to start a new business. What type of business would it be (good or service)? Conduct market research in this business type’s area, industry, and space and report your findings? Discuss why you selected this type of business as best for you? Be specific and explain your product or service offerings. (minimum of 3 paragraphs with more than 5 sentences per paragraph)
· Organize your foundational business structure (sole proprietorship, partnership, corporation, LLC, franchise)? Explain two main reasons you chose this over the other options available (experience, interest, potential growth, niche). Why is this type of business best suited for you at this time, and from whom and where will you find your needed industry knowledge (minimum of 2 paragraphs with more than 5 sentences per paragraph)
· Discuss the specific financial aspects of your business. Where will you look to fund your business? How will you obtain your needed resources? What types of resources would be necessary ( property, equipment, maintenance, location/space, capital, human, materials/merchandise, technology, informational) and other resources and intangible property in order to start and run your business? Discuss each type fully. (minimum of 5 paragraphs with more tha 10 sentences per paragraph)
· Discuss each of the 5 functions of the business (organizing, financing, production, marketing, and employment) as they pertain to your business and how you will address each one of these in your company. (minimum of 5 paragraphs with more than 10 sentences per paragraph)
· Discuss 3 external forces that will likely impact your business. Explain in detail how will you address each of these challenges. (minimum of 3 paragraphs with more than 3 sentences per paragraph)
· Marketing: Identify and discuss your target market. How would you market your business in order to attract your target market? Be specific. (minimum of 2 paragraphs with more than 3 sentences per paragraph)
· Marketing: How could you use social media to promote your business? Provide an example of a social media post, you would use. Be sure to identify the type and platform for this post. (minimum of 2 paragraphs with more than 3 sentences per paragraph)
· Business Analysis: Conduct a SWOT analysis on the possibility of starting your new business. Provide at least 2 items in each category. Use the chart below.
· Include the questions in the paper.
· Use Times New Roman, 12-point font size, and 1-inch margins all around. The paper must be saved in MS Word format (.doc, .docx). Any other format will not be accepted.
SWOT Analysis
Helpful
Harmful
Internal
Strengths
Weaknesses
External
Opportunities
Threats
· How could you use your strengths to take advantage of opportunities and ward off threats such as competitors, cyber threats, and direct and indirect threats? (minimum of 2 paragraphs with more than 10 sentences per paragraph)
· How can you shore up your weaknesses? (minimum of 1 paragraph with more than 10 sentences per paragraph)
· Including visuals in the project, such as charts, data from outside sources, pics, graphs, drawings, and videos to support your content, would be beneficial.
· Include visuals in the project such as charts, data from outside sources, pics, graphs, drawings, and videos to support your content.
All information gathered from other sources should be placed in quotations in the paper and included on a separate Bibliography page. Plagiarism will not be permitted. Personal notes and learning resources notes are not required to be cited. Types of sources to include in your bibliography will be the ones in which you found the answers to the questions, locations, and sites researched and included in the project by discussing examples of existing businesses in which your business was inspired or influenced. Include any sites, periodicals, articles, books, social media sites, or media content used in your paper. Any content from other sources not cited is plagiarism.
