Part I: Write at least one paragraph (5-6 full sentences) discussing an idea you might have for a new business. We can think of a business as trying to solve a problem or satisfy a need for particular groups of people. Have fun with this and think about the following questions: What type of customers will your business focus on and what needs of these people will your business try to satisfy? How will your business satisfy these needs and how will your business be different and better than the competition. You should also explain where your business will be located and why you chose the location(s). Your only constraints are that the business must be legal and physically possible (no Game of Thrones dragon businesses). If you want to assume that you have a certain amount of money needed for the business, that is fine.

Part II: Additionally, aside from customers, choose two other groups of stakeholders that you feel are most important to satisfy in order to ensure the success of the business? Stakeholders are groups of people that are impacted or affected by the business. These can include customers, employees, investors (owners or lenders), suppliers/vendors, the government, the local community, creditors (people you owe money to), etc. The idea is that if you satisfy the needs of your stakeholders, they will be more likely to satisfy the needs of the business. Explain why you chose each of these two other stakeholders (how are these stakeholders important to the business) and explain in detail how your business will satisfy their needs. Again, focus on how your business will be different and better than the competition. You should write a separate paragraph for each stakeholder.