The Establishment Of An Enterprise

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.

Entrepreneurs use many tools to propel their endeavors. One of the tools that many entrepreneurs use is the innovation concept. The innovation concept is the development of new disciplines and practices within the frame work of the concept. Entrepreneurs bring about innovation through opportunities that are caused by change. Technology innovation, processes innovation, service innovation and product innovation are some of the ways that the opportunities within the innovation concept can be found. Each of these ways of finding opportunities happen in different ways.

Forming a business entity requires a great deal of knowledge before any decision is made. There are advantages and disadvantages to each entity and without proper understanding of what they are, individuals could make costly errors and forfeit crucial perks that would be in the businesses best interest. In the situation in New State, Alex, Bill, Carl, and Devon have inherited their father’s operating organic farm and seek advice, in regards to which form of business organization would best fit their particular criteria. They have emphasized their immediate concerns, wants and needs from a business standpoint, but also stress their strong faith to uphold and operate in accordance with the Christian worldview. Their criteria is as follows, (1) create an entity which averts formalities or complexities, (2) develop a structure allowing cousin Xavier to handle the day-to-day, (3) minimize taxes on the entity, (4) avoid any personal liability, (4) keep business in the family only, (5) remain in accordance with the Christian worldview, (which will be the final topic in this discussion). After reviewing all criteria, it will be advised that forming a limited liability company (LLC) and electing for an S corporation status would be of best interest for the family. Discussed below, is the strengths and weaknesses of each form of business organization as it applies to their unique situation, to help better understand why an LLC/S corporation, is the best form of

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.

This activity is designed to encourage students to appreciate the process of generating business idea with limited funds. Anybody can come up with a good business idea regardless of their age, race, experience and others.

When it comes to investing in a business venture, having a great idea is the

Having a great idea, and building a team to bring that perception to life is the first step in creating a successful business enterprise. While finding a different and exceptional idea is rare enough; the capability to magnificently achieve this idea is what separates the dreamers from the entrepreneurs.

Numerous large businesses that are operating today were once started as small businesses. A new business is established to create a good or service that no other businesses have ever created or simply a product of higher quality than existing products, with the purpose of meeting customers’ needs and earning profits. Due to the technological advances at the present time, starting and operating a new business is less laborious. Nevertheless, would-be entrepreneurs should be familiar with the proper approaches to start their businesses.

- One who creates a new business in the face of risk and uncertainty for

How shall I start IDEATION should be the first investment of anybody who seeks to be an entrepreneur. Indeed, it maybe said that business starts and proceeds with the process of ideation, of thinking things through carefully, of asking very fundamental questions and giving the clearest answers to them, of formulating alternative plans, and of organizing ideas so that they can be easily translated into effective action. II. What business should I be in A. Personal Considerations The fundamental and long lasting basis for going into a business is delight in it. It has to be something you enjoy. It should give you the chance to deal with people you generally like dealing with. It should afford you the chance to do things you have always wanted to do, as well as go to places you like being in. It must challenge your creativity and entrepreneurship ability. Most im portant, it must lead to self-development, or the development of certain desirable human qualities that are latent within you. Another starting point for business would be the talents

Napoleon Hill stated ideas are the beginning points of all fortunes. When you have a great business idea it is not enough just have it somewhere in your brain, the second thing to do is to realize it in other words it is called idea feasibility. Same as this American author stated by having a successful idea you can open doors to new opportunities and attract fortune. The idea is like a new product which can be applied to a new business. The more successful the product is the better results it will give in the

Focussing on the organizational level, research argues that in order to pursue exploratory innovation, the business departments are supposed to be decentralized with loose cultures and have to be relatively small (Benner & Tushman, 2003). Startups more or less all meet those characteristics. This should mean that the possibility to present ideas within business plan competitions could mostly be exploratory in nature. There is no business structure more flexible and loose as a startup.

The economy’s motivation of small businesses stability as compared to large businesses that are well established, also the financial assistance of other organization including the government.

Competition has became evident and essential in the market of the world’s most important companies. It has allowed consumers to receive ultimate value from the goods and services that they are seeking. In my case study this competition is between two companies that produce ponchos for the fashion industry. The company that we are introduced with is named Tela and their running mate, Saira, is the Goliath of this market. Tela is trying to stay afloat and gain more customers as the underdog. Their plan to reach out to prospective customers is to introduce their new marketing strategy. This strategy includes Tela’s new mission statement which would make consumers aware of their core values and advantages over the Saira. Tela is owned by

Our aim- to engage with SimVenture; a business simulation that allowed us to build and sell computers through our virtual company named ‘Genesis’. The formation and running of our virtual company integrated us with new venture creation and about being an entrepreneur. It reinforced concepts previously presented in our course lectures and engaged us in a competitive and volatile business environment. SimVenture ran for three virtual years with five members on its team- each with a different role in the company.