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Small Business Research Instructions For this research, you will need to answer the questions below regarding opening your own business

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Small Business Research Instructions

For this research, you will need to answer the questions below regarding opening your own business. There is a probability that you would like to open your own business so this is a chance for brainstorming. You will need to include concepts of this class and explain in detail each of the questions.

The essay should be no less than 700 words, Times New Roman, Font 12. The essay should be concise, well-written, neat and professional in appearance, and free from misspellings, grammatical mistakes, or other errors; with high standards of professionalism and academic honesty. Upload the essay through Turnitin “Small Business Research”. Due date is November 19 at 11:59 p.m.

• Choose a name for the business.
• What type of business would you like to open and why?
• What would be the mission statement and value of the business?
• Analyze the internal analysis (strengths and weaknesses).
• Analyze the external analysis (opportunities and threats).
• Analyze Porter’s Five Forces.
• Why type of marketing channel (social media, billboards, television, radio, etc.) would you implement and why?
• What are some of the resources you need to be successful?
• Which strategy would use: cost leadership, differentiation, focus?
• What are the chances of being successful?