- Why are advisors important to you new venture? For your business idea, list who three key advisers will (or might) be. At least one of these people should be someone that you already know.
- Briefly describe the difference between organisational structures of product, functional, geographic, matrix and hybrid.
- Select one of these structures and create an organisational chart for your enterprise. Explain why you chose this structure and provide a brief role description for three key positions in this structure (regardless of whether you are initially filling one or more of these roles).
- What are your supply requirements, in terms of nature (i.e. what supplies do you need), quality, timeliness and price. Identify a key supplier for your business idea.
- Taking a step back and looking at your business plan, what use could you make of on-line outsourcing for your operations? Select one important task and go to an outsourcing site (e.g. freelancer.com; upwark.com; fiverr.com; mturk.com). What skills can you purchase, and how much do they cost compared to a traditional approach?
- Following the approach of Hirai (2010), for your business idea create a ‘risk matrix’ with ‘consequence’ on one axis and ‘likelihood’ on the other. Plot the five biggest risks to your organisation on the matrix. Briefly define each risk and explain how you would manage it.
- According to Rauch and Hatack (2016) what are the three types of HR-motivating practices positively correlated with success of SMEs? How can you use the insights of this research for your own venture?
All the work must be original
Turnitin report is required