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This is an opportunity to share your thoughts about what you learned during this course. The attached document provides some guiding questions to answer, along with some format requirements that will make it easier for me to read. Be thorough–Each section is worth 10 points.
Reflection Paper
You have been working through various topics in this course over the past six weeks, along with applying knowledge and skill to perform well in the GoVenture Entrepreneur simulation. I think you are ready to reflect on some business situations that are normal everyday occurrences for business owners. Please consider the following scenarios: Using the course materials, your simulation experience, and external resources provide your solutions to these business challenges. You are required to write at least 850 words to respond to this assignment. Your paper must be in modified APA format, meaning that I require a cover page, a reference page, page numbers and double-spacing. Subtitles are helpful for me to understand your thoughts. You must provide at least five references that relate and support your reflection. Responses are to be submitted to the Assignment link found in Week 6.
1. Inevitably, you will need to establish some contractual agreements with businesses and/or services associated with your business. Identify one resource, and briefly describe the type of contract you will need to implement, and the benefits it will provide for both of your interests.
2. What trends are currently impacting your business? How will you discover the current trends, and what tools will you use to take advantage of current trends to promote your business? How will you know that your choices are successful?
3. You always need skilled labor to help you with your business but posting a sign that says “Now Hiring” in your front window isn’t bringing you qualified employees. What can you do to make your job positions attractive for potential employees? It may help to put yourself in the employee’s shoes.
4. Every business revolves around money, and handling money in a small business is a skill. Even with the best planning, surprise expenses will occur, and they are intertwined with your business supply and demand. Looking into your future business ownership, how are you going to handle the following?
a. Business is great! You need to expand.
b. Lack of business results in a net loss.
c. You discover an employee has stolen from your business.
Take this opportunity to truly consider your own future business as you reflect on these scenarios. As previously stated, they are not far-fetched and happen everyday in small businesses everywhere.
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