UMGC BMGT 110:
BMGT 110 - Activity 3: Contemplating Starting a Business
I CAN ONLY USE SOURCES FROM THIS CLASS. PLEASE LET ME KNOW IF YOU HAVE TAKEN THIS CLASS FROM UMGC.
Project is due Tuesday at 11:59 p.m. eastern time of Week 7.
The Activity is a accumulative project. The cardboard is an befalling for acceptance to authenticate how able-bodied he or she comprehends the advance materials/concepts. Acceptance will administer assorted concepts abstruse throughout the advance to the presented situation.
Outcomes Met with This Project:
Discuss the financial, economic, regulatory, sociopolitical and abstruse factors as they chronicle to a activating business environment.
Identify the analytical business functions and how they collaborate in adjustment to position the alignment to be able in the accepted business environment.
Carlos Rodriguez is backward aboriginal from his administration job in publishing due to a business alliance in his industry. Because readers are affective to online formats for purchasing books and magazines, Carlos is not absorbed in blockage in that industry. Since Carlos is alone 53 years old, he is not accessible to retire. He and his brother, Julio, adore cycling, active and occasionally entering triathlons calm and alternation calm frequently. Carlos has acclaimed that it is difficult award affordable affection accessories for his hobbies and believes that if he opened a brick and adhesive store, he could accept a acknowledged business.
Julio has additionally bidding some absorption in actuality a allotment of this new business, but he and Carlos accept not discussed the adjustment in detail. Julio bidding affair about the role he would comedy in the business and admits to actuality afraid about actuality an owner. In addition, Carlos is not abiding he wants to go aback to assignment full-time and thinks he could run this business after it advancing on his training time.
Carlos was accustomed a severance amalgamation of $50,000 and alternative than a $1800 abode payment, does not accept any alternative claimed banking obligations. He is distinct and his alone adolescent is developed and lives abroad from home.
How to Set Up the Memo
Create a Word or Rich Text Architecture (RTF) certificate that is single-spaced with a amplitude amid paragraphs, Times New Roman 12-point font. The final artefact will be in business announcement architecture no best than three (3) pages in length. Abode acutely and concisely.
Create a Appellation folio with a appellation for the paper, advance cardinal and section, your name and the instructor's name.
You are a adviser that Carlos Rodriguez is because hiring to adviser him through the action of starting his business. Since you accept a ample business background, you are activity to abode a business announcement to Carlos Rodriquez analogue the altered areas of business that he would charge to accede to auspiciously accessible the business. Use the afterward business announcement architecture to Carlos and not about Carlos. Thoroughly acknowledgment the ten (10) elements beneath the architecture application the advance abstracts and the case book facts. Do not use alien sources to complete this project.
Business Summary- This is a one branch overview of the accepted bearings of the applicant as you see it. This is the foundation of the announcement to accomplish abiding you and your applicant are both examination the bearings the same. Accomplish abiding to accommodate an overview of the basic topics.
Situation Analysis and Recommendations - This is area you abode the afterward requirements application the advance abstracts and the advice from the case scenario. No alien sources can be used.
Discuss how Carlos can actuate if he is an administrator or should be a baby business owner.
Explain how Carlos should adjudge how abundant basic is bare to alpha the business.
Assuming Carlos will eventually charge financing, altercate the banking statements Carlos will need.
Discuss the best anatomy of business Carlos should set up and explain why.
Explain why the alternative business forms would not assignment well.
Discuss the role Julio should accept in the business and explain whether this accommodation affects the anatomy of business Carlos sets up and explain how so.
Explain specific types of business the business should pursue.
Discuss whether Carlos should appoint advice and if so, what position(s).
If advice is hired, explain who will administer them.
Explain the best means for Carlos to actuate his advisers if he chooses to appoint employees.
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