Business Discussions (2)

Question 1

Purpose

Throughout this course, you will be creating and evaluating a business plan for your own new venture. In each unit, you will be addressing various aspects of your new entrepreneurial venture.

To get the best responses to the assignments, you will have help from your classmates. They can help with brainstorming ideas, elaborating on your plans, giving constructive feedback based on the class material, and making analyses. This unit’s analytical session is designed to help you have the best idea of the best options for the business venture’s business structure. It is essential that you involve yourself in this process to help others as they help you. The faculty member will act as resource and facilitator to the discussion, but the work is about you communicating with your classmates and pooling information to create the best business plan possible. You may just find by the end of the class that you are inspired to go into business for yourself!

Entrepreneurship, at its heart, is creating something new that solves an existing problem. In order to facilitate a successful business, a well-chosen business structure is fundamental.

Participating in this discussion will allow you to demonstrate Critical Thinking, Business Planning, Entrepreneurship, and Business Requirements.

Task

For this discussion, compare possible business structures as they relate to the business venture you chose. In this unit, you have looked at the various options regarding those structures. For this discussion board, you continue to work with ideas generated in Unit 1, with the goal of having a unique problem and solution to work toward in your business plan.

You will continue to work with the business venture you chose in Unit 2. The end goal is for you to have a unique business venture with a solid business plan. For this dialogue, address the following prompts:

1. Compare and contrast the possible business structures.
2. Discuss the advantages of the LCC and sole proprietorship—the two primary choices of business structures for new ventures.
3. Apply this discussion to your chosen business venture. Which is the easiest business structure? Which is the best business structure given the research conducted in Units 2 and 3 regarding the nature of the business, possible growth, and the existing market?

Remember that this is an analytical assignment that ultimately entails application. The best business plan is researched, and this discussion is designed to help you make the best choice of structure, which is not always the easiest.

In applying the research to your venture, pay close attention to whether you have an idea that people will benefit from and therefore buy what you are selling. NO business is too small as long as it makes money.

In 350–500 words address the following prompts:

• What are the four major for-profit business structures?
• Compare these structures, including the advantages and disadvantages of each.
• Apply this knowledge to your chosen venture. Which structure is the best choice, and why?

By Tuesday, July 7th, at 11:59 p.m., respond to at least two of your classmates. In your response, offer further critique or other perspectives on the chosen structure for your classmates’ ventures. The focus is analytical, so be sure to utilize advantages and disadvantages and logical reasoning in addressing these structures.

Submission

Your initial post (due Thursday, July 2nd, at 11:59 p.m. ET), should include:

• Identify the common for-profit business structures.
• Compare and contrast these structures and the problem/solution that you have chosen to pursue as a business venture.
• Chose and discuss the best structure for your chosen venture.
• Be sure to use sources with full in-text citations and a list of full-text citations for all sources used.

  
  question 2

  Purpose

  In this unit, you will delve into the intricate world of entrepreneurship, refining and enhancing your business plan while critically evaluating ethical and social responsibility aspects.Participating in this discussion will allow you to demonstrate critical thinking, business planning, interpersonal communications, ethical standards and conduct, customer relations and management, social responsibility, and employee relations.

  Task

  For this discussion board, you will continue to work on the business plan that you created in Unit 5 with the goal of perfecting your own personal plan. For this dialogue, you will review, critique, and make suggestions on each other's business plans. In order to do this, you will be posting your business plan and offering it up for suggestions. You will also be reflecting on ethical and social responsibility issues regarding your business plan and reflecting on those of your classmates.At this point, you have already developed a business plan that should be somewhat complete. However, like any plan, it can always get better. As in previous units where we alternated between creative and analytical phases, this unit will primarily be analytical—evaluating previous work while adding discussion of ethics and social responsibility.Your initial post should include the following:
  • Briefly describe your venture (for context).
  • Reflect on the ethical principles and their application to your venture.
  • What ethical principles are applicable to your venture?
  • Which social responsibility issues are relevant to your venture?
  • What core stakeholders could be affected by your venture?
  • What could be done to create the most positive social and ethical outcomes?
  You should also attach your completed business plan as a Word document. Make any changes that your professor has suggested before posting.

  Submission

  In 350–500 words
•