Part $1$: Business Concept $(20$ points$)$

$1.$ Business Idea $(10$ points$)$: Describe your business idea in detail. What product or service

will you offer? What problem are you solving for your customers?

$2.$ Business Type $(5$ points$)$: Will your business be a sole proprietorship, partnership,

limited liability company $($LLC$),$ or corporation? Briefly explain why you chose this

structure.

$3.$ Target Market $(5$ points$)$: Who are your ideal customers? Consider demographics,

interests, and needs.

Part $2$: Business Operations $(30$ points$)$

$1.$ Scope of Work $(10$ points$)$: Outline the specific activities your business will perform to

deliver your product or service.

$2.$ Departments Needed $(10$ points$)$: Considering your business idea, what departments are

essential for smooth operation $($e$.$g$.,$ marketing, production, finance$)?$ Briefly explain the

function of each department.

Part $3$: Challenges and Risks $(20$ points$)$

$1.$ Competition $(10$ points$)$: Who are your main competitors? How will you differentiate

your business from them?

$2.$ Financial Risks $(5$ points$)$: Identify two potential financial risks your business might

face. How can you mitigate these risks?

$3.$ Legal Considerations $(5$ points$)$: What are some legal requirements you will need to

comply with to start and operate your business?

Part $4$: Ethics and Social Responsibility $(30$ points$)$

$1.$ Ethical Workplace $(10$ points$)$: Describe how you will foster a work environment that is

ethical, respectful, and free from discrimination.

$2.$ Social Impact $(10$ points$)$: Consider how your business can have a positive impact on

society or the environment. How will you integrate social responsibility into your

operations?