Assignment 1: Creating an eCommerce Business“Too often, entrepreneurs brimming with optimism and enthusiasm launch businesses destined for failure because their founders never stop to define a worka

Assignment 1: Creating an eCommerce Business

“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:

1. Develop an idea for a prospective small business, and select a name for the company.
2. Identify its key competitors and summarize the strengths and weaknesses of one of the competitors.
3. Prepare a mission statement that encompasses the purpose of the business and considers its target market.
4. Identity the ownership form for this business, taking into consideration tax implications, liability exposure, managerial ability, and cost of formation.
5. Include at least two (2) references outside the textbook.

Your assignment must follow these formatting requirements:

• Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
• 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.