Posted: September 9th, 2022

There are 2 parts to this summative assessment. Complete Part 1 this week and su

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There are 2 parts to this summative assessment. Complete Part 1 this week and submit it with Part 2 in Week 4.
Answer the following in 175 words:
Part 1:
Think about a business opportunity you may want to develop. If you already own a business, think about a new product or service you may want to introduce.
Describe this opportunity in detail.
The foundation of a successful business model is the need, problem, or pain point you are addressing.
Assess the specific need, problem, or pain point that the business opportunity solves in the marketplace.
In a strong business plan, you need to describe in detail your background and why you are the right person to launch your business.
Discuss an experience you have that makes you uniquely qualified to develop, launch, and grow the opportunity you are contemplating.
You will submit this assignment when you get to Week 4 and complete Apply: Summative Assessment: Components of a Business Model: Part 2.
Exam Content
There are 2 parts to this summative assessment. You completed Part 1 in Week 3. Now it’s time to complete Part 2.
Answer the following in 350 to 525 words:
Knowing which human resources you need to succeed is critical to a sound business model and well-written business plan.
Evaluate the specific human resources you need to develop and launch your business opportunity, and what human resources you have available to you right now.
Assess which human resources you need to identify in your business plan and acquire with funding as your business grows.
In a strong business plan, you need to clearly outline the financial resources needed to launch and grow your company.
Evaluate the specific financial resources you need to include in your business plan.
Determine which of these financial resources you have available to you right now and which will you need to obtain to launch the business.
You need several nonfinancial resources to launch a new business, and you need to articulate these in your business model and full business plan.
Evaluate the nonfinancial resources will you need to start and grow your business opportunity.
Based on the essential components of a true business opportunity, analyze how successful you feel your future company will be.
Combine Part 1 and Part 2 and submit your assignment.

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