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In this assignment, you will develop organizational and financial plans for your business idea. Write an eight (8) page paper in which you:
Develop key parts of an organizational plan.
- Describe the legal form of your business (proprietorship, partnership, or corporation).
- Justify the legal form you selected by detailing its advantages over other forms.
- Identify the positions and describe the roles of the executive management team.
- Address whether or not you will use a board of directors and / or a board of advisors and why.
Develop the rudiments of a financial plan:
- Explain the financial requirements for the venture, including the amounts needed for cash flow and profitability.
- Create a cost of operating report for your venture.
- Prepare a break-even analysis for your venture.
- Explain the sources of funding for the venture.
- Research and cite at least five (5) reputable academic sources.
The specific course learning outcomes associated with this assignment are:
- Examine the organization plan options and how the organizational structure aligns with the business strategy.
- Analyze the financial planning process for a new venture.
- Analyze different sources of capital to determine the appropriate financing for a business venture.
- Use technology and information resources to research issues in entrepreneurship and innovation.
- Write clearly and concisely about entrepreneurship and innovation using proper writing mechanics.