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Format: The student will write a paper in Microsoft Word and upload the assignme
Format: The student will write a paper in Microsoft Word and upload the assignment to Canvas
Imagine you are considering starting your own business. Answer these below questions:
1_ What kinds of products or services will you offer?
2_ What knowledge or skills do you need to run the business? Do you have all the skills and resources to start the business, or will you need to find one or more partners? If so, what skills would your partners need to have?
3_Explain how current outside factors such as economic, political, and technological changes will affect your business and how your business can adapt and grow with those changes.
For example, you are starting a restaurant business. Because of the pandemic, you lost 50% of your customers as they do not want to dine in. Fortunately, you got an SBA (Small Business Administration) Economic Injury Loan to help pay for the expenses (economic changes). However, most of your workers get the stimulus check from the U.S government so they would rather stay at home than go to work (political changes). You soon made a strategic decision to partner with technology companies such as UberEats, GrubHub to have your food delivered to your customers instead of dining in (technological changes).
4_Read this article Eight Common Ethical Dilemmas Business Owners Face (And How To Overcome Them)Links to an external site., tell us your personal ethical philosophy and how you will use it to promote professional ethical standards at your small business and prevent or resolve potential dilemmas.
Grading Rubric
Min 500 words for the assignment
APA format, free of grammar, spelling errors
Answer all four questions
Incorporate knowledge from the course content to the assignment
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