Posted on by Bus 435 discussions Week 1 What would be your choice if posed with the decision between starting up a new venture or buying an ongoing venture if you have an opportunity to be an entrepreneur? What are the considerations that would help you make the decision? Identify a product or service and assess the business opportunity for a new venture in that market. Is there a good opportunity for a new venture? Why? How would you create value for the product or service if you were the entrepreneur of the new venture? Week 2 Assume that you consider a franchising opportunity for your new venture in the fast-food industry. Assess the strengths and the weaknesses of this franchising opportunity for your new venture. Describe your decision-making process on whether franchising is a good choice for your new venture. Respond to at least two of your classmates’ postings. There are different legal forms of a business: corporation, limited liability company (LLC), proprietorship and the partnership. Which legal form will you choose to establish your new venture to be proposed in your Final Paper business plan? Why did you choose that particular legal form to establish your new venture? What are the strengths and the weaknesses of the legal form that you have chosen for your venture? Week 3 How do you conduct the marketing research for your new venture? Describe the steps that you will be using in your Final Paper research process and identify the limitations of your research. How do you set the price for your product or service? Identify at least two pricing strategies that you may be using for your start-up business and explain why you think each identified pricing strategy is beneficial to your product or service. Week 4 How do you obtain your start-up capital? Identify at least three sources of your start-up capital. There are four types of loans available from banks for new ventures. Which type of loans would you prefer to borrow from banks? Explain why you prefer to borrow that particular type of loan. Define sales budget and cash budget. Explain the importance of sales budget and cash budget to the owner-manager. How do you use sales budget and cash budget to control the operation of your venture? Give a detailed example of how the process of a sales budget and a cash budget would work for your venture Week 5 How do you apply the MBO (Management by Objectives) process in your venture? Provide examples on how better morale will enhance productivity. Identify at least three challenges of global expansion and address how you would face those challenges.