Reference no: EM133174909

As a fresh graduate from the CC program, your first job will be consulting someone who has contracted your services to start off a new business in Canada. The client is new to Canada and is coming here with enough money to start their new venture. He/she is not sure which business makes sense for commercial purposes given how things are in Ontario. Presumably, you know about these things.

You must compile a report that addresses the fictitious business you are consulting for as it makes progress through time.

You will suggest a business to your client describing the following: 

1. Identify a business opportunity in relation to the existing Canadian business environment.
2. Identify a product, either a good or a service, that will take advantage of this opportunity.
3. Who is your competition for this product, either direct competition or substitute products?
4. Thinking about your business venture, identify at least three ethical issues that could potentially arise.
5. Should your venture have a formal statement of company practices and business ethics or simply rely on your own individual ethical standards? What are the pros and cons of each approach?
6. Who are the primary stakeholders in your new venture? Rank them in order of their relative importance.
7. Does it make sense for a new business to develop a formal social responsibility program? Why or why not?
8. For the specific business you are starting, does it make more sense to start from scratch, to buy an existing business, or to buy a franchise? Why?
9. How will you most likely finance your new venture?
10. What factors will most likely contribute to your success? What factors might cause your business to fail? Is there a way to minimize or eliminate these risk factors?
11. What form of ownership will your group use? What are the advantages and disadvantages of this approach?