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Identify the external sources of funding

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You and a few of your classmates decided to become entrepreneurs. You came up with a great idea for a new 3D scanning application that you think will make lots of money. Your business plan won first place in a local software competition and awarded you $10,000. You are using the $10,000 prize money to support yourselves as you start your company, but this amount will not be enough and you may need to explore other options to generate funds to help you develop the software application and have a successful business. Think through the business processes, key decisions, and information needs issues you may face. Complete the following tasks and submit your answers as a report. Make sure to follow the requirements and report structure mentioned below under a separate heading.

Question a. Identify the key decisions you need to make to be successful entrepreneurs, the information you need to make them, and the business processes you will need to engage in.

Question b. Your company will need to exchange information with various external parties. Identify the external parties, and specify the information received from and sent to each of them.

Question c. Identify the external sources of funding and how you will approach them.

Question d. State and explain the security, legal and ethical issues that may arise from the development and use of the software application?

Reference no: EM132526257

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