Chapter 4_MGT422_SP11 (2)

Have if so discuss who they are and what the status

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Unformatted text preview: If you have not, discuss the timeline and procedures for pursuing IP Search the US Patent office database for existing patents/patents Search pending (www.uspto.gov) Part 9: Firm Location Part Discuss where the business will be headquartered and Discuss where the reasons the Was the location chosen because of some advantage? Was Located in a firm cluster (e.g., Silicon Valley) Located near important suppliers Located near large customers/customer groups The area has many employees with the necessary qualifications There are some tax or other financial benefits (e.g., cost of land/living There is cheap, etc.) is Other benefits like zoning needs, regulations, access to distribution Other channels, etc. are favorable Look at the Small Business Administration website ( www.sba.gov) to to start gathering information about different state’s dis/advantages start Part 10: Management Description Part Discuss the legal form of the business (e.g., corporation, sole proprietorship, Discuss legal partnership, LLC, etc.) partnership, Discuss why this legal form was chosen Other resource-related, legal (e.g., IP), etc information included here— VRIO Describe the members who compose the management team Describe members The key people in charge of the business What is their background (e.g., education, employment, etc.)? Make the case for why they are qualified to start and run this type of business Discuss the roles (e.g., CEO, CFO, CIO, etc.) of each team member Describe other important “human” resources Describe other Composition of the board of directors (if a corporation) Composition of the board of advisors (if applicable) If the firm has been endorsed by a reputable person/firm, discuss this Has Bill Gates provided positive feedback about the firm? Discuss the potential need and plan for recruiting future human resources Discuss Part 11: Financials Part Demonstrate the financial viability of the business Demonstrate financial Begin by explaining the funding needed during the next three to five years Begin along and how the funds will be used along Describe where the funds will come from (e.g., self, family, loans, investors) Include realistic financial projections How fast you expect to go through the funds bef...
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