“Business Plan Part Iii – Business Initiative and Technology”

Imagine you are hired by a new start-up company. You are tasked to recognize and explore a new business opportunity of creating a new product or service for your company. As part of your new business vision, you will create a business plan describing all keys elements of the business opportunity which will ultimately be presented to an executive team in a venture capital group for possible funding and execution.

Beginning a new business venture sounds like a easy task. All you need is a great idea, opportunity to select your team so you can begin to make some moves and find a few investors to invest in to this dream you have. Before you know it you are making a profit and moving onto a new location. Sounds easy but there is much more that goes into starting a new business than most people may know. To accomplish this, the business has to satisfy several objectives that exclusively add to the business. This paper will narrate some of the particulars of previous works from week two, three, and four with information such as the business and

Organizations can use internal recruitment and external recruitment activities to find the best employees for a position. Describe these two approaches and provide one advantage for using each approach. (4 Marks)

There are (3) reasons why I have chosen energy drinks as my NAB. First off, there is a growing market for energy drinks. Red Bull and Monster Beverage Corporation, together, form over 80% of domestic energy drinks volumes by estimates. Dollar sales for energy drinks grew almost 6% to $6.67 Billion in measured channels in 2013, which propelled sales growth for convenience stores (Team, 2014). A growing thirst for caffeinated “energy” drinks, which include the likes of Red Bull, Monster, and Rock star, has spurred a heart-thumping surge in sales. Globally, the energy drink industry has gone from a $3.8-billion business in 1999, to a $27.5-billion

Business Plan Pro is a software program that helps guide you through the process of creating a business plan. Because a business plan is a pivotal component for any business to have, especially a start-up, ensuring that your business plan is up to par is critical. For those who don't know how to create a business plan from scratch business plan software can be a life saver.

Technology and innovation have disrupted many industries over the past several years, not the least of which is the recruiting industry. In the recent past, headhunters, the proactive agents of recruiting firms, would be on the front lines and phone lines seeking the best talent for the clients they represented. Frequently, headhunters reached out to talented people who were not actively seeking employment, hoping to steal them for the benefit of their clients.

Many different avenues exist that can be utilized in the recruitment process. While traditional methods of recruitment such as newspaper advertisements employee referral programs are still be used, many companies, including Fortune 500 companies, are moving towards more technologically advanced avenues such as career opportunity pages on the company website, online job boards, social media, etc. The way an organization presents itself using any of these avenues is essential to the recruitment process as it is the only opportunity for the organization to attract

If internal recruitment is not an option / has been unsuccessful, companies will the need to advertise to a wider audience. An employer will need to decide which method of recruitment is most suitable for the role and organisation. Common recruitment methods include advertising on the company’s own corporate website, using internet based jobsites, recruitment agencies, local or national press, job centre plus or employee referral schemes. The CIPD resourcing and talent planning survey (2013) lists the top 5 methods of recruitment as,

During the recent past however, when the company became a more dominant global competitor and a publicly traded conglomerate, the numbers of employees leaving the firm have increased, generating adjacent problems of employee recruitment, training and retention. In other words, the major challenges currently faced by the company are related to talent management. At a more specific level, the issues refer to the following:

Recruitment and talent resourcing are crucial to organisations. They make a substantial contribution to the business performance by identifying, attracting and retaining the right people.

Talent management is defined as the strategies and practices needed to identify, develop, attract and retain skilled workers of value to an organisation. (Rands 2009). It can be described as a holistic approach to the strategic management of the organisation’s employees. Organisations need to view their people as investments which add value to the company and not as costs which take from the bottom line. Having a talent management system in the organisation is crucial to growing the value of that human capital. If we analyse the critical factors for

The development of start-ups is an important business activity that requires effort, time, and financial resources. It is important to correctly establish the resources that are required by opening a business in order to be able to successfully reach the objectives established for businesses in each situation. In this case, the business plan refers to developing a restaurant that focuses on providing meals that are based on organic foods.

Global sourcing refers to sourcing employees across the world. This process requires developing, implementing, planning, and evaluation staffing strategies on a worldwide basis in order to make sure that organizations met their goals and objectives. Recruiting refers to an organization’s decisions and practices that affect the quantity or quality of candidates willing to apply or accept job offers. Nowadays, organizations use the term “human capital” that makes executives realize that the way they compete to recruit talents can make or fail their businesses. Moreover, the capacity to source (identify) and recruit (attract is very advantageous). In my paper, I will discuss some recruiting sources and sourcing methods, benefits and challenges. Global sourcing method has an external sourcing option called “Outsourcing” that is said to be the best solution for recruiting. Therefore, I will discuss what outsourcing is, its benefits and disadvantages.

Having a functioning and efficient talent acquisition team is of vital importance to a firm. In a time where firms have to make quick decisions in order to remain relevant and profitable, availability of the right labor does not always keep up with the need. Not having a functioning talent acquisition strategy can be detrimental. It is essential that talent acquisition be accurate and timely as it “is the only function within HR that can destroy the business and HR” (Truitt, 2013). In order for the talent onboarding to be timely and successful, the search, vetting and hiring of talent will require appropriate acquisition actions. “The selection of tools, technology and outsourcing partners is a key element of a company’s talent acquisition strategy” (Erickson, 2012).

In order for any business plan based upon technology or innovation to succeed, a carefully laid out roadmap will lead to the feasibility of use within a particular set of market parameters. In an effort to establish the probability of success within the desired market quantitative and qualitative data must be gathered and extrapolated for use within the market analysis.