In: Operations Management
Week 9 Assignment 3: Developing a Sustainable Small Business
Read the case study titled "Pre-launch decisions which influence innovation success" found in Chapter 7 of your textbook.
You will then write a four to five page paper in which the following items are addressed.
1. Discuss the necessity of short-term and long-term
forecasting for developing the key elements of the business
plan.
2. Evaluate the importance of developing formal and informal
networks when building new business opportunities and expanding
into new markets.
3. Discuss the importance of knowledge management in the digital
age and identify two risk organizations must address to mitigate
competitive pressures.
4. Consider the various components of a business plan and identify
two components that you believe would be the most challenging for
you to complete as an aspiring entrepreneur. Next, discuss what
could be done to help you overcome this challenge using
technology.
5. Use at least two external sources
Answer:1
The necessity of short-term and long-term forecasting for developing the key elements of the business plan : This is very essential element for the business plant to develop the key elements of the business plan which are based on the short term and long term forecasting approach. So it is very essential that the organization has the short term and long term forecasting approach which is helpful in developing the key element for the business plan.
Necessity of short term forecasting: This approach or process is very helpful as below
Necessity of long term forecasting: This approach or process is very helpful as below