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- Write a business plan on how you are going to operate. Regardless of whether you are interested in taking over an existing business or starting a new one; they both have challenges that you will need to overcome in order to succeed. Discuss one of the challenges in starting a new business and how you may be able to address that challenge with a well-designed business plan, as well as how the pandemic has been a main challenge. Your challenge can be unique to either a start-up or on-going business or both.Read the following description of an organization and consider how elements of its internal environment influence it. Northern Trust Corporation, a wealth management company, is traded on the NASDAQ stock exchange and is a component of the Standard & Poor's 500 Index. On March 31, 2015, the company reported that it had $107 billion in banking assets and $960 billion in assets under management. There are 12 people who supervise the management of the Northern Trust Corporation. Frederick H. Waddell, chairman and CEO of Northern Trust, is one of the 12, but the rest are independent of the organization. They meet on a regular basis in small committees-including an audit committee, a business risk committee, a business strategy committee, and a compensation and benefits committee-to manage the organization for the benefit of the shareholders. The Northern Trust Corporation has three enduring principles: service, expertise, and integrity. These principles guide the actions of everyone in the…How do you currently describe the business climate locally, regionally, and globally? What are the implications for the companies in the same industry as your CLC group’s company? Explain why. Explain and cite examples using Google Scholar.
- The devastating impact of COVID-19 has forced companies to make the tough decision to either shut down their operations or pivot to a new business strategy. Given the current situation, what other ways companies can operate?Read the following scenarios, then answer the questions that follow. Situation 1 In the following statement, a business owner attempts to explain and justify his preference for slow growth in his business. I limit my growth pace and make every effort to service my present customers in the manner they deserve. I have some peer pressure to do otherwise by following the advice of experts—that is, to take on partners and debt to facilitate rapid growth in sales and market share. When tempted by such thoughts, I think about what I might gain. Perhaps I could make more money, but I would also expect a lot more problems. Also, I think it might interfere somewhat with my family relationships, which are very important to me. Situation 2 Bear Bills, Inc. was started in 2008 by three Baylor University alumni in their early twenties as a solution to a problem every college student faces—paying utilities. The company's name originated from the university's mascot, the Baylor Bears. The business…Write a detailed Situation Analysis of DC Entertainment Inc. Include as many facts, data, and industry/market information as possible.
- Identify any three local entrepreneurs who built their business based on who they were and their strengths. They could be entrepreneurs you know or from your country. Fill in the table below to record your findings. You have 20 minutes to complete this activity. Entrepreneur Venture Name 1 2 3 How did they leverage the Bird-in-Hand principle? You know that the future is unpredictable-so, rather than defining a specific plan to reach a specific goal, it makes sense to focus on what means are available to you right now.Critical Thinking and Discussion QuestionsYou are a manager of an electronics and electric company. Your company produces and sell TV, Fridge, Washing Machine, Air Conditioners, etc. electronics and electric product in the international market (Local and Foreign Market). This electronics and electric business involve several risks with their severity and frequency.You are to consider those risk severity and frequency in business planning, operations and strategies. You have been passing a critical period due to COVID-19 pandemic. You, as a manager, are asked develop a risk management matrixcovering risk severity and frequency.You may consider the possible risks, their frequency and severity and possible strategic planning. a. What is Risk? What is Enterprise Risk Management? b. What is the risk profile of electronics and electric business? i. Risk Severity (low to high) of electronics and electric business.ii. Risk occurrence frequency (low to high) of electronics and…1. Why do business plan important in a business? Does it have a contribution to the country and community? How? 2. If given the chance to own a business of your own, what kind of business and why?