Juan is an entrepreneur who is starting a new business, and he knows that those first years of the company are essential to long-term success and growth. However, he is not clear about the challenges ahead of him. Therefore, Juan needs your advice in identifying at least ten challenges. Your guidance consists of listing and describing ten challenges and explaining how he can avoid them.
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Juan is an entrepreneur who is starting a new business, and he knows that those first years of the company are essential to long-term success and growth. However, he is not clear about the challenges ahead of him. Therefore, Juan needs your advice in identifying at least ten challenges. Your guidance consists of listing and describing ten challenges and explaining how he can avoid them.
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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…The 'Dragon's Den' is a reality television show where entrepreneurs pitch their business ideas in the hopes of securing an investment from the team of investors also known as "The Dragons". In this activity, you are an entrepreneur pitching your new idea to the Dragon's Den. You will need to create one of the following options to pitch your idea: • Video • Website • PowerPoint . Written ReportBusiness plan should describe where the entrepreneur is, where they want to go with the company, and how they plan to do so. Select one: True False If you are an entrepreneur, you will be your own boss. Select one: True False Business Plan acts as a guideline for the entrepreneur and integrates all elements of the business. Select one: True False
- Is a strategic issue positive or negative? Positive, because once the strategic issue is addressed, it becomes the focus point of the business Positive, because the issue can be resolved and dealt with Negative, because the issue cannot be resolved Negative, because your company should not be having strategic issues Positive, because as long you are strategic, it will work out.Effective planning is a cornerstone of success in any endeavor, whether it be a personal goal, a business project, or a community initiative. A well-thought-out plan provides a roadmap, helping to navigate challenges, allocate resources efficiently, and achieve objectives. From setting clear objectives to identifying potential obstacles and developing strategies to overcome them, planning fosters a sense of direction and purpose. It involves breaking down tasks into manageable steps, assigning responsibilities, and establishing timelines. The collaborative nature of planning encourages communication and coordination among team members, fostering a collective commitment to the shared vision. In essence, planning is not merely a preparatory phase but an ongoing process that evolves as circumstances change. It empowers individuals and teams to adapt, improvise, and ultimately succeed in the face of uncertainties. Question: How do you ensure flexibility in your planning process to…Based on the materials in the assigned chapter, what "concept" describes the actions of senior executives in a firm who seek out, support, and promote individuals who exercise initiative, spot opportunities for improvement, and display the skills to implement them? Why would senior managers pursue this line of action?
- Hi, could you help me answer a question, it would help me with my understanding of the subject. The question is the following “ What are the advantages and disadvantages of self-financing a new business?”. Would you be able to answer this question in about 1000 words, please? Thanks in advancePlanning is an essential part of achieving our goals and objectives. Whether it's a personal project, a business venture, or even a simple task, having a well-thought-out plan can make a significant difference in success. Effective planning involves setting clear objectives, identifying the necessary resources, establishing a timeline, and considering potential obstacles or challenges. It allows us to create a roadmap to guide our actions and decisions, making it more likely that we will achieve our desired outcomes. Question: How do you ensure that your planning process is adaptable to unexpected changes and challenges that may arise during the execution of your plan?Discuss about any existing company showing the main issues and give recommendations to someone who want to start his own business.
- Assignment Description and Instructions: As a group of aspiring entrepreneurs, you must create a business plan for a service-oriented business in the tourism industry in any Caribbean country (not an existing business/company). Key Elements of the Business Plan Business and Industry Profile This section provides an overview of the industry and market segment. Market size. Growth trends. Strength of major firms. Significant industry trends.Final Business Model and Strategic PlanWrite a 700- to 1,050-word section for your business model and strategic plan in which you add your strategies and tactics to implement and realize your objectives, measures, and targets.Include marketing and information technology strategies and tactics.Develop at least three methods to monitor and control your proposed strategic plan, being sure to analyze how the measures will advance organizational goals financially and operationally.Explain the ethical issues faced by the organization, summarize the legal and regulatory issues faced by the organization, and then summarize the organization's corporate social responsibility.Develop a 350-word page executive summary defining the new division of existing business. Share your Vision, Mission, final business model, value proposition and list your key assumptions, risks, and change management issues. Quantify the growth and profit opportunity and planned impact on various stakeholders.Note:…Why does a company needs financial objectives? A) to convince shareholders that top management is acting in their interests. B) because without adequate profitability and financial strength, the company's ultimate survival is jeopardized. C) to indicate to employees that financial objectives always take precedence over strategic objectives. D) to translate the company's business model into action items. E) to overtake key competitors on such important measures as net profit margins and return on investment.