ScenarioWanda has never thought of herself as running a business, although it certainly seems to have turned out that way. Originally she really just wanted to give herfriends and family an alternative to cheap, low-nutrition dog treats. When you explain to Wanda that she has created a business with stakeholders and all ofthe internal workings and structure of a business, she just stares at you blankly. So, you tell her to just hang on and you will explain this in more detail.Your TaskUsing a visual or graphical representation, show Wanda what her business looks like from the inside and the outside. Include forces in the externalenvironment and internal functional areas, as well as both internal and external stakeholders. In other words, what components of a business have cometogether with Wanda's work?Like any graphical representation, there needs to be an explanation of what the graphic represents! Along with the graphic that you create, provide Wandawith a written description of the following:• The components of her external environment• Internal functional areas and their purpose• Internal and external stakeholders in Wanda's business

Internal Environment- elements that presents in company's environment internally or describes the…

Answered: Scenario Wanda has never thought of…

Foundations of Business (MindTap Course List)

6th Edition

ISBN:9781337386920

Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Chapter4: Choosing A Form Of Business Ownership

Section: Chapter Questions

Problem 6DQ

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So many people want to become their own boss. So they take the steps needed to become an Entrepreneur. Being an entrepreneur isn't just hard, it's really hard. Your days and nights, or more so your entire life, are dedicated to developing a business that you know in advance is highly likely to fail if it is not done properly. One of the biggest failures in a business adventure is planning. The reality is 80 percent of new businesses crash and burn within the first 18 months, according to Bloomberg. I believe that, more often than not, failures come as the result of people not being set up or prepared to leave behind stability for chaos. In this assignment, you will identify ways to properly plan and develop a strong strategy for a business to flourish.
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