A software company in Barbados is organizing a competition, inviting business ideas that promote the use of smartphone technology to conduct business. You enter your business plan, an initiative to involve unemployed teenagers and young adults from local communities to generate business and employment, and it was so well received that you were awarded a special prize of 50,000 Barbados dollars. You plan on using your prize money to implement your idea. a. Identify key decisions you need to make, the information you require to make these key decisions, and the five major business processes you need to engage in.

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
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A software company in Barbados is organizing a competition, inviting business ideas that promote the use of smartphone technology to conduct business. You enter your business plan, an initiative to involve unemployed teenagers and young adults from local communities to generate business and employment, and it was so well received that you were awarded a special prize of 50,000 Barbados dollars. You plan on using your prize money to implement your idea.

a. Identify key decisions you need to make, the information you require to make these key decisions, and the five major business processes you need to engage in.

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