Reference no: EM133448127
Assignment:
Create a Social Sharing Economy Business but be aware of the Risk and Liabilities!!!!
The Social Sharing Economy is growing rather fast and new business ideas are being created regularly worldwide. As a group, you are working together to createee a new social sharing business of your choice for the Hospitality/Tourism industry. Make sure your business name does not exist in the real world. You have to think of a completely new business name and idea. (Similar in concept to Airbnb, Uber, WeWork, etc)
To to dooo this successfully, you will need to complete the following:
You don't need to design the logo I will do that. But Please answer all the questions briefly. Please take your time to complete all the questions.
Introduction:
Create a name for the business (The business cannot be related to your culture (as that would be too easy). Select something different and unique. Your business name has to be new which is not exist already in the real world.
Design a logo for the business
Tell me as much as you can about your business
Who are your competitors? Why is your business different?
1. Create a Risk Management plan by identifying 5 major risks that need to be managed daily with this new business. For each risk answer the following questions:
- Why is this a risk?
- What type of risk is it?
- What is the likelihood of the risk happening?
- What strategy does the company use to manage the risk?
2. Outline the legal requirements that need to be considered when running a business of this type?
3. State this business's positive and negative impacts on society, including your business's Corporate Social Responsibilities?
4. Be sure to consider and include all licensing requirements and any compliance requirements for your business and what your policies/procedures will do to prevent liability.