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Business Case Scenario Business Scenario: You have a great idea for a new mobile app. You do not have any technical expertise to create one, however, nor do you have any idea on how to attract the money you need to get your idea off the ground or marketed. You are partway through your diploma at BCIT and have a couple of friends in your class who have some of the skills and connections you think you need. You talk to them at great length about your idea, and the three of you decide to go into business together to see if you can make this work. This is not a case analysis, but a discussion with the rest of the team, as if you were the potential business owners, coming up with decisions and the reasons why you made those decisions. Which form of business organization would you choose and why? Outline the advantages and disadvantages of the form of organization you choose, and explain what you would do to overcome the disadvantages. What additional agreements or contracts would you need and why? Include a discussion of potential funding, control, profit sharing, exit strategies, and anything else you can think of that you would have to take into account in going into this business venture. Each member of the group should put forward their initial ideas and reasoning individually by Friday at 6:00 pm at the latest. Look at all the submissions, discuss which aspects of each are the most beneficial for this new business, and come to consensus. This week's group leader will then post your group's decision and reasons by Monday night at midnight