Question

During Week 9, you will build on the assignment from Week 5. You will need to define the legal form for this business. For a business to be successful, it must have a clear organizational structure. You will need to define the structure for your business, including the number of employees required and a breakdown of their job titles and a description of their jobs. It is critical that employees work as a team, and you will need to define how you will create an atmosphere of teamwork and collaboration. It is also necessary to show how you will evaluate the stakeholders in the business and make sure that they are involved and understand how they are affected. Funding a business can be very challenging, and this assignment requires you to define the funding sources. Last, you will be challenged to innovate your business, so the assignment requires you to define the technology that will be used to create innovation.

Answer 1

In the business assignment, you will need to define the legal form, organizational structure, teamwork atmosphere, stakeholder evaluation, funding sources, and technology for innovation of the business.

Step-by-step explanation:

The subject of this question is Business and the grade level is College.

When deciding on the legal form for a business, there are several options to consider. The most common forms of business are sole proprietorships, partnerships, corporations, and limited liability companies (LLCs). Each of these forms has its own advantages and disadvantages.

In terms of the organizational structure for the business, it is important to define the number of employees required and their job titles and descriptions. This will help create a clear hierarchy and division of responsibilities within the company. Additionally, creating an atmosphere of teamwork and collaboration is crucial for the success of the business. This can be achieved through various strategies such as team-building activities, open communication channels, and fostering a supportive work environment.

When it comes to evaluating stakeholders in the business, it is necessary to identify and involve all relevant parties who are affected by the business. This includes employees, customers, suppliers, and investors. By ensuring that stakeholders understand how they are affected by the business, you can mitigate potential conflicts and ensure their continued support.

Funding a business can be challenging, and it is important to define the funding sources. This can include personal savings, bank loans, venture capital, crowdfunding, or government grants. The choice of funding sources will depend on the nature and scale of the business.

To promote innovation in the business, it is important to define the technology that will be used. This can involve adopting new software or equipment, leveraging data analytics, or implementing automation processes. Incorporating technology into the business can help streamline operations, enhance productivity, and stay competitive in the market.