You will then write a 4–5 page paper in which you use this new knowledge and proven strategies to respond to the five statements below.
- Discuss the necessity of short-term and long-term forecasting for developing the key elements of the business plan.
- Evaluate the importance of developing formal and informal networks when building new business opportunities and expanding into new markets.
- Discuss the importance of knowledge management in the digital age and identify two risks organizations must address to mitigate competitive pressures.
- Consider the various components of a business plan and identify two components that you believe would be the most challenging for you as an aspiring entrepreneur.
- Describe how technology could help overcome identified business plan challenges.
- Evaluate the components of a business plan related to forecasting, networking, and knowledge management.