Business plan frameworks
point to note
For this assignment, read the case study on pages 253 and 254 of the eTextbook. Once you have read and reviewed the case scenario, respond to the following questions with thorough explanations and a well-supported rationale.
- Which of the business plan frameworks would be the most beneficial for this new venture? Why do you believe that framework is the best choice? Support your answer with research.
- Apply connections between business models and innovative thinking by suggesting a different revenue model for this organization. Interpret the connections between the described business model and your suggested revenue model to align with the selected business plan framework.
- What evidence did you notice in Boyd Cohen’s planning that was innovative regarding the business model and creation of this venture?
- IoMob is in its beginning. What do you think the venture’s future holds, and what factors will contribute to the new venture’s growth? What traditional business strategies and innovative business strategies would promote growth?
- Analyze how a potential failure for this venture could increase the start-up team’s innovation skills.
- What do you perceive to be the most significant risk for IoMob? Recommend two actions that will mitigate this risk.
- Describe a viable business model and business strategy for IoMob
- Book Reference:Neck, H. M., Neck, C. P., & Murray, E. L. (2021). Entrepreneurship: The practice and mindset (2nd ed). SAGE. https://online.vitalsource.com/#/books/9781544354644