Unit 4 Discussion: Business Structure
Purpose
Throughout this course, you will be creating and evaluating a business plan for your own new venture. In each unit, you will be addressing various aspects of your new entrepreneurial venture.
To get the best responses to the assignments, you will have help from your classmates. They can help with brainstorming ideas, elaborating on your plans, giving constructive feedback based on the class material, and making analyses. This units analytical session is designed to help you have the best idea of the best options for the business ventures business structure. It is essential that you involve yourself in this process to help others as they help you. The faculty member will act as resource and facilitator to the discussion, but the work is about you communicating with your classmates and pooling information to create the best business plan possible. You may just find by the end of the class that you are inspired to go into business for yourself!
Entrepreneurship, at its heart, is creating something new that solves an existing problem. In order to facilitate a successful business, a well-chosen business structure is fundamental.
Participating in this discussion will allow you to demonstrate Critical Thinking, Business Planning, Entrepreneurship, and Business Requirements.
Task
For this discussion, compare possible business structures as they relate to the business venture you chose. In this unit, you have looked at the various options regarding those structures. For this discussion board, you continue to work with ideas generated in Unit 1, with the goal of having a unique problem and solution to work toward in your business plan.
You will continue to work with the business venture you chose in Unit 2. The end goal is for you to have a unique business venture with a solid business plan. For this dialogue, address the following prompts:
- Compare and contrast the possible business structures.
- Discuss the advantages of the LCC and sole proprietorshipthe two primary choices of business structures for new ventures.
- Apply this discussion to your chosen business venture. Which is the easiest business structure? Which is the best business structure given the research conducted in Units 2 and 3 regarding the nature of the business, possible growth, and the existing market?
Remember that this is an analytical assignment that ultimately entails application. The best business plan is researched, and this discussion is designed to help you make the best choice of structure, which is not always the easiest.
In applying the research to your venture, pay close attention to whether you have an idea that people will benefit from and therefore buy what you are selling. NO business is too small as long as it makes money.
In 350500 words address the following prompts:
- What are the four major for-profit business structures?
- Compare these structures, including the advantages and disadvantages of each.
- Apply this knowledge to your chosen venture. Which structure is the best choice, and why?
By Tuesday at 11:59 p.m., respond to at least two of your classmates. In your response, offer further critique or other perspectives on the chosen structure for your classmates ventures. The focus is analytical, so be sure to utilize advantages and disadvantages and logical reasoning in addressing these structures.
Submission
Your initial post (due Saturday at 11:59 p.m. ET), should include:
- Identify the common for-profit business structures.
- Compare and contrast these structures and the problem/solution that you have chosen to pursue as a business venture.
- Chose and discuss the best structure for your chosen venture.
- Be sure to use sources with full in-text citations and a list of full-text citations for all sources used.
Get this or a similar paper done in as fast as 4 hours, 24/7.
NB: We do not sell prewritten papers. All essays are written from scratch according to specific needs and instructions
Leave a Reply
You must be logged in to post a comment.