Describe three (3) methods of building a formal network and then discuss the benefits of each strategy. Next, discuss the formal network strategy you would utilize for your business model and explain the implications of this decision.

Question description

“Management Parts of the Business Plan and Developing a Forecasting Strategy” Please respond to the following:

  • Identify three (3) common problems associated with business plans and share the implications of these shortcomings. Provide support for your response.
  • Select two (2) forecasting techniques and compare the strengths and weaknesses of each approach. Next, discuss how each of your chosen forecasting strategies reduces the element of risk and uncertainty associated with change.

“The Necessity of Building and Managing Innovation Networks” Please respond to the following:

  • Describe three (3) methods of building a formal network and then discuss the benefits of each strategy. Next, discuss the formal network strategy you would utilize for your business model and explain the implications of this decision. Provide examples to support your rationale.
  • Discuss how you could utilize formal network structures to develop new products and services for an organization. Next, evaluate two (2) success factors that would contribute to the success of your new product development strategy. Provide support for your response.

“New Ventures and Opportunities” Please respond to the following:

  • Identify three (3) reasons why individuals create new business ventures. Next discuss any goals or motives that would drive you to become an entrepreneur. Provide examples for your response.
  • Discuss at least (3) fundamental drivers for establishing a new venture then share two (2) common sources that provide the ideas for these business opportunities. Be sure to support your response.
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