Please respond to each blue question.
Your Chief Executive Officer (CEO) is considering starting a new business which requires information. You have been tasked by your CEO to report on the mandatory components below. Mandatou Components: Introduction - You will prepare and submit an APA formatted partial business plan on an instructor approved topic. A partial business plan is a blue print for business success. [fa business does not have a plan in place, there is no control. Your partial business plan will not include a financial data section. Please, do not copy a business plan from an existing company. The purpose of this partial business plan is to emphasize important concepts Within MGMT 390. Type of Business (product or service) - Provide a description of the business, the product or services, location, and any other facts you want to report. Legal Form of Business - Pick any form of business except a sole proprietorship. - Why have you selected this form of business? - What are the advantages and disadvantages of this legal form? - Specify types of ofcers and duties. - Review your state's Secretary of State Website for information on the legal form of business. Consider costs associated with that business form. - If you are not in the United States, choose your home state. Legal Setting of Business - Expand upon the information you stated under the legal form of business. Describe any government laws or requirements that pertain to your business. - Describe any zoning requirements for the business. - Is a home based business appropriate? - Are there any restrictions such as zoning, safety, environmental, or other requirements that must be considered? Location Requirements - Describe the property or location of your business. Why was this location picked? - Have you considered transportation, ease of customer access, and utilities at this location? Business License Research and Costs - Describe the business license and/or permit requirements for the location where you will be doing business. - Check the city and/or county websites for business license requirements and the costs for the business license. Insurance Requirements - Describe the types of insurance that may be required for operating this type of business. - Is bonding required? - If you have employees, describe the mandatory types of insurance to consider. Proprietary Rights - Describe any intellectual property that your business may own or create. - Consider trademarks, copyrights, design specications, patents, and logos. Employment Law and Requirements - If you have employees or will have employees, describe any employee laws and regulations you must comply with. - Describe your decision for employees vs. independent contractors. - Reviews [RS.gov for guidance on mandatory taxes. Purchase Orders and Contracts - For outsourcing, what types of pricing arrangements are you considering? Contract pricing arrangement examples are: rm xed price, xed price with economic price adjustment (EPA), etc. - For other types of contracts, are you considering labor, time and materials, or multiyear type? - Support your contract types with justication. Why are you planning on using these
