Assume Maxene is about to start a new business

a. Maxene may start a photography studio business.

b. The five business functions that relate to Maxene's business include;

i. Production. The company should be able to produce photo prints for clients.

ii. Purchasing. The business should be able to make the right decisions on the photography equipment they need, such as lenses and lighting gear.

iii. Marketing. The business should engage in marketing its products and services to attract more clients.

iv. Human resource management. Maxene should employ reliable and qualified employees to help in running the business.

v. Accounting and financing. In this department, the business should have proper strategies and policies to manage and re-invest the revenue generated by the company.

c. Some of the external factors that may affect the business are;

i. Economic factors such as inflation may increase the prices of equipment needed at the photography business.

ii. Competition. Competition from other businesses conducting the same kind of business may force Maxene to price the services and products lower.

iii. Technology. The business may take advantage of the advanced technology available to grow and attract more clients.

d. Maxene's target market would be event organizers, families, high school seniors, and corporates. She can market her business through social media, television advertisements, and word of mouth.

e. The business's SWOT analysis will be as follows;

Strength: Quality services and advanced photography equipment.

Weakness: Poor location and Ineffective marketing strategy.

Opportunities: Availability of a large market and media coverage of the business.

Threats: Competition and new government regulations.

f. Maxene should market his quality work to acquire more customers and also consider hiring out some of the advanced equipment when not in use to generate more revenue. In the process, she would be able to ward off market threats.

g. Maxene can shore up her weaknesses by finding a more strategic location that is easily accessible and employee a qualified worker to champion in marketing the photography business.