Description
Assignment 1: Creating an eCommerce Business
Due Week 4 and worth 135 points
"Too often, entrepreneurs brimming with optimism and enthusiasm launch businesses destined for failure because their founders never stop to define a workable strategy that sets them apart from their competition." (Scarborough & Cornwall, 2015, p. 106).
With this assignment, you have the opportunity to take your creative ideas to the next step and begin to develop a strategy that will form the foundation for a successful business.
Write a three to four (3-4) page paper in which you: (Small Accounting & Tax Prep Firm)
- Develop an idea for a prospective small business, and select a name for the company.
- Identify its key competitors and summarize the strengths and weaknesses of one of the competitors. (Jackson Hewitt & H&R Block)
- Prepare a mission statement that encompasses the purpose of the business and considers its target market.
- Identify the ownership form for this business, taking into consideration tax implications, liability exposure, managerial ability, and cost of formation.
- Include at least two (2) references outside the textbook.
Your assignment must follow these formatting requirements:
- This course requires use of Strayer Writing Standards (SWS). The format may be different than other Strayer University courses. Please take a moment to review the SWS documentation for details (more information and an example is included in the Strayer Writing Standards left menu link).
- Include a cover page containing the title of the assignment, the student's name, the professor's name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
- Analyze the nature of entrepreneurship, business ethics, and social responsibility in managing a successful small business.
- Describe and analyze the role of creativity and innovation as a competitive advantage of a small business.
- Describe the strategic planning process and develop a strategic plan for a small business.
- Describe and analyze the necessary activities and key decisions to start a small business.
- Use technology and information resources to research issues in small business management.
- Write clearly and concisely about small business management using proper writing mechanics.
Explanation & Answer
Attached is the complete work. Let me know if you may require any correction or clarification.
Surname 1
BUS 402 WK 3
Creating an E-Commerce Business
Name
Course
Professor
September 2, 2020
Surname 2
BUS 402 WK 3
Creating an E-Commerce Business.
Prospective small business idea.
I have always had a keen interest in venturing into the accounting field, and it is for this
reason that my business idea will involve setting up a small Accounting & Tax Prep Firm. This
firm is meant to help potential, consisting of both organizations and individuals, to keep track of
their taxes, expenses, income, and other financial related information (TRUiC, 1). Accounting
services have proven to be an essential aspect that is in demand as clients are provided with a
clear picture of their finances, and they are advised on how to implement tax mitigation
strategies (TRUiC, 1).
With the US tax code becoming more complex every year with every rule change or
amendment, the demand for accounting services has increased exponentially as the average
citizens seek assistance to navigate the process. Therefore, my business stands to benefit from
helping my clients save money and time, file their returns, and keep track of their finances. I will
name the firm, ‘ABC CPAs & Advisors Company.’
Key Competitors.
According to Thomas-Bryant (2), the field of accounting services has become
increasingly competitive, and professionals are becoming more uncertain about their prospects in
the business. With the increased use of technology and the...
