challenges involved in developing a business

The goal of this project to provide you with the opportunity to build on the work completed for your mini-venture, and grapple with some of the challenges involved in developing a business (or other management) project in the real world. While in your mini-venture, you were given considerable operational flexibility, and the freedom to fail, in real undertaking, you will be confronted with a wide range of factors (regulatory, human, and environmental) that will limit your choice of action, and which will increase your chances of failure if you do not take them into account. The Task: Building on your mini-venture assignment, map out how you would execute a large-scale version of the project in the “real world”. What strategy would you employ to grow your business, and what factors would impact that strategy? What ecological and sustainability considerations come into play? What regulatory and licensing issues will you encounter? What technology and information will be useful and disruptive to what you propose? What resources will you need, what cost will you incur, and how will you generate sufficient revenue to allow your business to grow? Most importantly, how will you successfully manage these challenges in order to make your enterprise successful? Guidelines: Submissions should be no longer than 10-12 double spaced pages, 12-point font and include a cover page and references using APA format. Include at least two credible sources beyond those listed on the course Brightspace. You may work in groups: size is a minimum of one and maximum of three. Groups that submit collectively will all receive the same grade on the assignment. Each group member should submit a copy of the report with ALL group members names and banner numbers listed. Failure to do so will result in a mark of “0”. Submissions should consider and respond to the issues raised above. Submissions will be evaluated on the degree to which they engage these issues, the critical rigor and quality of argument they bring to bear in that engagement, and the clarity with which they explain how they will overcome the issues they are likely to engage. A well-developed paper will have an introduction, body with subheadings, and conclusion.

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