, Why are advisors important to you new venture? For two of your business ideas, list who three key advisers will (or might) be. At least one of these people on each list should be someone that you already know. Because it can reduce risks if we had advisors before starting up the business venture. In my business for three key of advisors will include a lawyer, insurance agent and a competent accountant. 2, Briefly describe the difference between organizational structures of product, functional, geographic, matrix and hybrid. An organisational structure of a product involves organising the business into each department, which focus on a different product such as publishing, management systems and E-commerce. Functional structures of a product …show more content…
Briefly explain why you chose this structure and provide a brief role description for three key positions in this structure (regardless of whether you are initially filling one or more of these roles). The functional organisational structure will create my business operation as my business is small and single product as well as service. Functional structure works help my business with the stable environment by no considering designed the changes quickly or updating. The great functional structure, roles will be all of the positions which include a lawyer, accountant and insurance agent resources required for each part activity in place. 4, What are your supply requirements, in terms of nature (i.e. what supplies do you need), quality, timeliness and price. For two of your business ideas list who a key supplier might …show more content…
5, Taking a step back and looking at your business plan, what use could you make of on-line outsourcing for your operations? Select one important task for each business and go to an outsourcing site (e.g. freelancer.com; upwark.com; fiverr.com; mturk.com). What skills can you purchase, and how much do they cost compared to a traditional approach? The tablet of one of my business ideas, as an on-line outsourcing for our business will choose to use the fiverr on line site which would provide for people both to buy or sell the products. The mturk and freelancer on-line site also will help my business as well as employees to find what needs and organise the use of human intelligence to perform tasks. Therefore, we can purchase the fiverr, mturk and freelancer for our business and we will put the money which is 5% of our business’s budget for the outsourcing those sites. 6, Following the approach of Hirai (2010), for two of your business ideas list the three biggest ‘company killer’ risks; their likelihood, consequences; mitigation tactics; mitigation costs and status (i.e. what would you actually do to manage this