Reference no: EM132936902

1. In this discussion, you will read and give your insight into the challenges faced by an entrepreneur of a small business. The hyperlink below is to the "The New York Times Case Studies" where you will find pages and pages of case studies that describe challenges faced by entrepreneurs. For this week's discussion, choose a case study that interests you in the area of either services or e-commerce. In a later week, you will return to the New York Times Case study file to find a product-oriented case.

Discussed by noting the business name, owner, and type of business the entrepreneur is in. Then review the challenges this business found itself in and what solutions it applied. Finally, recommend one additional solution to the challenge the entrepreneur could have considered.

2. For this Discussion, you will be addressing business challenges faced by an entrepreneur owned and operated small-business franchise. Do some research and choose a franchised business that may be of interest to you. After reading and viewing the materials in this week's Lesson, think about the possible challenges to profitability and viability this franchise could face.

Introduce the choice of franchise and address the most important business continuity challenges you feel are important to plan for. To get you started with thinking about challenges, consider that this is your family's business and it has been in business for several years. There is only one store, outlet, or service operation and the franchise has been quite profitable for several years, has excellent well trained employees, a stable customer base, is well respected in the market, has up to date facilities and/or equipment; and has had steady 3 - 5% growth for several years. With all that in mind, now think about what possible challenges your franchise choice could incur. The key to this Discussion posting is research, research, research.

3. Thinking about small business opportunities to franchises. Look at the top 100 franchise opportunities available to entrepreneurs today. Each of the franchise opportunities in the hyperlink below gives you insight into the demands, constraints, training, and investment requirements faced by entrepreneurs interested in owning a small-business franchises.
Start by looking over the long list of franchise opportunities and pick three that may be of some interest to you. As you read each of the franchise make notes on:
• The franchise name, description, and overview of the type of business
• Training requirement
• How territories are set up
• Obligations and restrictions
• Terms of Agreement and Renewal
• Financial Assistance
• Training requirements
• Investment requirements

4. Assignment Instructions:
For your assignment this week, you are to write an essay of 700 to 1050 words addressing each of the areas above. In the final section of this essay, summarize your personal thoughts, insights, and interests in the final section of this essay.
Hyperlinks to Franchise Opportunities: Franchise Direct: The Top 100 Franchise opportunities

This assignment should be in APA format. Finalize and submit your 700 to 1050 word essay

5. For this assignment, you will be developing a Business Model for a business opportunity of interest to you (Bookkeeping and Tax Preparer Services). Your discussion assignment this week is to describe your initial thinking about the business for which you have chosen to Model. To the extent you can,: (a) the products and/or services offered; the facilities, equipment, inventory, and other assets needed; the target market and customer demographics on which you will focus; and what expertise you, as the entrepreneur, bring to the business.

6. This week your assignment is to begin researching a small business of interest ( Bookkeeping and Tax Preparer -USAMEX Tax Group) to you and then start the process of organizing and writing of a formal business model. You will want to select a small business or franchise for which you have some expertise, knowledge, experience, and (most importantly) considerable interest.

Once you have reviewed the resources in the lesson, the next step in this process is to watch the video hyperlinked below. We will be using the model design that is covered in this short 9-minute video. Before you start the video, download and print out a copy of the Outline sheet that has been inserted below, it will help you in your note taking as you watch this video.
The Business Model Canvas - 9 Steps to Creating a Successful Business Model - Startup Tips

Now that you have a good feel for the business you want to model, and the format we are going to use to develop your Business Model, it's time to get to work formatting your business plan. We will follow an organization much like the video you just watched, with two exceptions (see the outline below):
• Section 1 - The company description, location, and name
• Section 2 - The Value Proposition
• Section 3 - Customer Segments
• Section 4 - Channels
• Section 5 - Revenue Streams
• Section 6 - Key Resources Required
• Section 7 - Key Partners
• Section 8 - Key Activities
• Section 9 - Cost Structure (no numbers required, just layout what is important to plan for as important (a) fixed costs, (b) variable costs, (c) activity costs, (d) logistics costs, and (e) legal, license,

Instructions:
How you present this Model is up to you, it can be a PowerPoint presentation or MS Word report. Your submission will be assessed according to the following criteria
1. The thought that was put into each of the 9 segments. Was everything considered and has the author considered all of the important factors affecting each part of the model? Is it complete with no missing elements?
2. How creative was the model presentation?
3. How professionally narrated, written, or presented the Model is?

7. In question 1, you went into the New York Times Small Business Case Study file and chose either an e-commerce or service related business to report on. For this question you will head back into the extensive list of small businesses case studies provided by the New York times and choose a product-oriented small business to describe the that business must plan for in order to assure continued viability. Start this discussion the same way you did in question 1, by noting the business name, owner, and type of business the entrepreneur is in. Then review the challenges this business found itself in and what solutions it applied. Finally, recommend one additional solution to the challenge the entrepreneur could have considered.

8. This week you are given two case studies in our Readings (in the Lessons) to compare and contrast the challenges faced by each. The two case studies describe very different types of businesses; one a service-oriented business, the other a product-oriented business. The first small business case study describes a restaurant entrepreneur/owner who is facing growing pains that desperately need a solution. The second case study is a product-oriented business. As you read the cases studies, note how these different businesses faced both somewhat similar and, at the same time, somewhat different challenges to their continued viability.

Start by reading both case studies and make notes of the business type, the situation the Entrepreneur/owner finds himself or herself in, and then thoroughly understand not only the depth, but the long term complications the challenges pose to the viability and growth of the business.

Instructions
Your assignment this week is an essay describing as many possible solutions as you can think of to the challenges these companies face. Also in this paper you will describe both the risks and the possible rewards for each challenge/opportunity that you propose.
This assignment should be in APA format. Finalize and submit your 700 to 1050 word essay by Sunday midnight.

bFor this discussion assignment you are to address two Exit or Harvesting Strategies you believe are important to account for in the Business you developed a model for in Week 6. Start by briefly reminding your fellow students of the business you have chosen to Model in week 6. Then address the two exit or harvesting strategies you will incorporate into your business plan. Briefly explain why you chose these two as the most important strategies to consider.

NOTE: Please type everything in APA format. Also, include in-text citations and references pages. Scholastic references only.

Attachment:- Business challenges.rar