SmallBusiness Research Instructions
For this research, you will need toanswer the questions below regarding opening your own business. There is aprobability that you would like to open your own business so this is a chancefor brainstorming. You will need to include concepts of this class and explainin detail each of the questions.
The essay should be no less than 700words, Times New Roman, Font 12. The essay shouldbe concise, well-written, neat and professional in appearance, and free frommisspellings, grammatical mistakes, or other errors.
Choose a name for the business.
What type of business would you like to open and why?
What would be the mission statement and value of the business?
Analyze the internal analysis (strengths and weaknesses).
Analyze the external analysis (opportunities and threats).
Analyze Porters Five Forces.
Why type of marketing channel (social media, billboards, television, radio, etc.) would you implement and why?
What are some of the resources you need to be successful?
Which strategy would use: cost leadership, differentiation, focus?
What are the chances of being successful?