Create a SWOT analysis for the business you are pitching in Week 8. Thoroughly outline the factors in each of the 4 categories. How will your capitalize or negate each of the potentials advantages and disadvantages you have identified?
These are 3 business ideas I had that we can choose one of for this post (only one of these business ideas to do a SWOT analysis):
1. Hand craft and art gallery for kids in malls to keep them busy and safe while their Mumma's are shopping their stuff.
2. Introducing the APP wherein people can submit their query relating to anything in my geographic area and serving them with the same, like if they need food, vegetables, fruits, carpenters, beautician, etc., door to door service.
3. Introducing the APP for kids for their projects in different streams for helping them in submission the same within time.
Hand craft and art gallery for kids in mall
The ideal organization for this will be sole proprietorship. This is because the operation in the mall is going to be considerably small and local. As a result, the lower the complexities, the better the operation. Having a sole proprietorship business makes sure that the complexities are low and the business can be operated as a store. The cost in this type of business is that when you have sole proprietorship, the liability is high. However the benefits are that it is less complex, does not require annual filing, straightforward documentation for the business, etc.
App for local query
The scope of the operation for this business is large. As a result, there are chances of mistakes and there is increased risk of accident’s or mishaps. Naturally, there is also increased risk of liability. As a result, a corporation may be the best option for an organization. This is because the workforce required is likely to be large and there are certain regulations and legal matter that should be considered. The cost of corporation is that there will likely be more regulatory norms to follow, increase in complexity in matters of taxation and legal process. The benefits that comes with corporation is that it provides the owners with limited liability, formalizes the business operation, allows fundraising from external investors.
Apps for kids’ project
This business will require specific expertise. For example, a geography project will require a team-member/employee who is expert in geography. With such consideration, the business will require multiple experts to work in sync. The best form of business for this purpose is partnership. This way every partner will bring different types of expertise and will provide the necessary skillsets to cater to the customers.
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Create a SWOT analysis for the business you are pitching in Week 8. Thoroughly outline the...
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