Unit 9 assignment: Uses of funds
Unit 9 assignment: Uses of funds
You have discussed your initial funding section of your business plan. Now you will apply what would appear to be the most practical and efficient plan for funding your business, including the sources and considerations needed to properly finance your start-up. You also consider safeguarding your financial future and those of your stakeholders in funding your business.
Complete the uses and sources of funds section of LivePlan:
- Outline your uses of funds section. Even if you bootstrap, please include the uses of the money you and/or others will invest.
- Outline the sources for your funding. These sources may include credit cards, personal loans, use of retirement savings, family funds, outside investors (angel, venture, crowdsourcing), and banks.
Download your Lab assignment in a Word document (not a PDF) and submit it to the Unit 9 Lab assignment Dropbox.
Consult the Unit 9 Team Discussion grading rubric from the spreadsheet downloaded in Units 1–3.
Assignment 2: Recorded Elevator Pitch Unit 9 assignment: Uses of funds
DISCUSSION DUE TUESDAY
Better understanding how the basic financial statements relate and inform one another helps you to better understand your business and keep better track of how the business is faring and anticipate resource needs.
Topic: The Relationship Between Financial Statements and Funding Needs
- Given your projected opening cash needs, will you need funding? Think about your credit rating. Do you have adequate credit and assets to qualify for funding? If not, are there co-signers available?
- If you need funding, how much and what kind will you need? Do not forget to consider your own investments, and well as investments from others. Be sure to read the articles on bootstrapping and franchising.
- Will you need or can you benefit from a line of credit? If so, how much, and what are your expected interest rates? Why would you select a line of credit over a longer term loan?
- Will you need funding in your first year (after the startup)? Is your need seasonal? If you will need funding, what will be the likely source(s)?
MT/460 LABS and Quiz
Early in the process of implementing and executing a new or different strategy, managers need to determine what resources will be needed. Choose one (1) of the following inquiries to execute from a leadership and management perspective:
- Illustration Capsule 11.2 in your textbook provides a sampling of motivational tactics employed by several prominent companies. Choose three companies from the list to research and discuss how rewards aid in the strategy execution efforts of each company.
- Company strategies cannot be implemented well without a number of support systems to carry on business operations. Using the Purdue University Global Library, search for recent articles that discuss how a company has used information systems and control systems to aid the cause of good strategy execution.
- Policies and procedures facilitate strategy execution when they are designed to fit the company’s strategy and objectives. Using the Purdue University Global Library, search for recent articles that discuss how a company has revised its policies and procedures to provide better top-down guidance to company personnel on how to conduct their daily activities and responsibilities.
- Illustration Capsule 11.1 in your textbook discusses Charleston Area Medical Center’s use of Six Sigma practices. List three tangible benefits provided by the program. Explain why a commitment to quality control is particularly important in strategy implementation. How can the use of a Six Sigma program help a company survive and thrive against competition?
- Illustration Capsule 12.1 in your textbook discusses Epic’s strategy-supportive corporate culture. What are the standout features of Epic’s corporate culture? How does Epic’s culture contribute to its winning best in class awards, year after year? How does the company’s culture make Epic a good place to work? Why is culture connected to the implementation of business strategy? Unit 9 assignment: Uses of funds
- If you were an executive at a company that had a pervasive yet problematic culture, what steps would you take to change it? Using the Purdue University Global Library, search for recent articles in business publications on “culture change.” What role did the executives play in the culture change? How does this differ from what you would have done to change the culture?
- Leading the strategy-execution process involves staying on top of the situation and monitoring progress, putting constructive pressure on the organization to achieve operational excellence, and initiating corrective actions to improve the execution effort. Using the Purdue University Global Library, find an article and discuss a recent example of how a company’s managers have demonstrated the kind of effective internal leadership needed for superior strategy execution.
In answering your chosen inquiry, be sure to meet the following criteria:
- All information is on topic, clearly stated and appropriately focused.
- Use a minimum of three (3) research resources to substantiate your ideas, thoughts, and opinions on your chosen topic.
- Supporting research is relevant and thoroughly synthesized.
- Use critical thinking to demonstrate expertise on the topics in your chosen inquiry.
- Writing has a distinct focus; is balanced, substantial, specific, sophisticated, and presents mature ideas that are particularly well developed.
- Provide two practical examples based on experience or research to support your understanding of the topics in your chosen inquiry.
- Use headings to segment topics and to control the flow of information for your reader.
- Write in third person.
- Precise sentence structure and word choice.
- Writing should be mechanically free of spelling and grammar issues.
- Properly apply APA referencing.
Use as many concepts from Chapters 11 and 12 of your textbook to complete this Discussion Assignment as possible. In lieu of an Assignment Dropbox, this Discussion Board Assignment was developed for the purpose of knowledge sharing. You will post your Discussion Assignment essay by the end of Unit 9. You are not required to collaborate with your fellow learners on the Unit 6 Discussion Board. You will collaborate with one another about this strategy research in accordance with the instructions found on Unit 10 Discussion Board. Unit 9 assignment: Uses of funds
Essays posted to the Discussion Board beginning in Unit 10 will be considered late, and a penalty will be applied in accordance with the Purdue University Global late policy. You are expected to write unique perspectives on the subject of strategy, and its purpose in business. Refrain from committing plagiarism. It will not be tolerated. Your contributions must synthesize existing theories, concepts and principles, and must add value to the existing body of knowledge. The maximum number of direct quotes permitted in your writing is no more than two from scholarly, peer-reviewed resources.