Imagine you are starting the firm with your Team and you are all college seniors with limited work experience (as probably some of you are!). You may not have impressive credentials to include in the management team section of your business plan. How can you construct this section of your plan, and the company itself, in a way that reassures the readers of the plan that you know what you're doing and will get the advice you need to launch a successful company?
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- To make a “bulletproof” business plan, some mistakes must be avoided, and the following must be done:❖ Think through the business idea. You might have a great idea, but have you carefully mapped out all the steps you'll need to take to make the business a reality.❖ Do your research. Investigate everything you can about your proposed business before you start writing your business plan--and long before you start the business.❖ Research your potential customers and competitors. Is your product or service something people really want or need, or is it just "cool"? Study your market. Is it growing or shrinking? Could some sort of disruptive technology or regulatory change alter the market in fundamental ways? Why do you think people will buy your product or service? If you don't have any customers or clients yet, you'll need to convince investors that you have something people really want or need, and more important, that they'll buy it at the price you expect.❖ Get feedback. Obtain as…You and a partner plan to start a business. You want to schedule a time to sit down together and develop a business plan. Your partner says, “What’s the point? We both know what we want to do, so I think we can skip the formal plan.” How would you explain the importance of developing an organizing a business plan to your partner? And how would you convey the significance of a vision, a mission statement, and goal-setting as it relates to your business plan?describe each of the following management functions;1. Planning2. Organizing3. Leading/directing4. Controlling5. Staffing
- In short paragraph differentiate between the symbolic view and the omnipotent view of management. include specific examples of each of view to support your answerAssuming: PIZZA COMPANY In the FUNCTIONS OF MANAGEMENT. Choose among your OWN NAME who you think is best suited for the position and describe why you choose him/her. example: PLANNING - Name of Person - describe/descriptionAs a consultant to Karen, how would you recommend she address the four (4) issuesidentified in part 1 (1) at BLC. These solutions must be specific and realistic. You mustindicate why you have chosen these recommendations. Your recommendations mustbe backed up by strong evidence (course readings, discussions, outside research).
- Business plan is a tool that can be used in a number of ways. Discuss the way you think a business plan would be useful to you. (i.e.:What can you do with your business plan? How long do you think it will take to develop it completely? Who will be the intended audience? Etc.)How is a business plan different from an executive summary?Sarah wants to develop an organizational structure for the business she is willing to establish. Therefore, she needs to be mindful of the and of the staff she is willing to employ. * Experience; age; academic qualifications Roles; responsibilities; authority Names; age; gender IQ; general knowledge; skills AAA is a limited company who is willing to raise capital. However, it's looking for some kind of permanent capital which doesn't require to be paid back to the providers. What do you suggest? * Borrowing from friends Equity finance Bank loan Issuing debentures
- 1. What three (3) personal values should a manager possess to improve the organization's success in achieving/fulfilling its primary purpose? 2. Assumptions are used by management methods such as the Logical Framework Approach (LFA), Cost-Benefit Analysis, and Cost-Effectiveness Analysis to provide inputs for managerial decisions and actions. What is the logic of employing an assumption in coming up with or creating inputs for management decisions and actions, given that it is not guaranteed to hold? Is there any way to avoid making assumptions?explain the business-IT maturity model and comment on how this model relates to the points raised by Krotov in the article “Bridging the CIO-CEO gap: It takes two to tango”, Frick in the article “Google's CIO on How to Make Your IT Department Great”, and the perspectives of IT governance presented in Chapter 9 (Pearlson, Saunders & Galetta). How would you rate your own organization (or an organization you research) using the business-IT maturity model?Floral and Festive Ltd. is an event management organization, and you are the owner. Recently because of your previous work, fantastic reviews and growing orders for organizing events you have decided to employ someone to whom you can delegate your mounting workload. Hence you conducted an interview of three candidates. Explain with example any five types of biases that you as manager may face in your decision to employ a candidate among the three.