The capstone project combines experiential learning, community involvement, research, writing, and producing a one-of-a-kind product to illustrate your learning in at least one of the program's main themes: the arts, the environment, globalization, global public health, human rights, non-violence and war, religion, sustainability, and technology/communication. The products span a wide range of styles and give many viewpoints on the subjects of our project. By creating unique material, such as conducting workshops, videos, and podcasts, we illustrate our understanding in the form of a multi-genre research project.
While having an effective plan is essential for success in the global business market, understanding global trends and their effects on the economy is essential for success.
A company's international strategy is its business plan or approach to operating in foreign markets. An international strategy has to assess the global market, research available resources, establish goals, comprehend market dynamics, and build offerings. For a business that wants to expand globally, international strategy is an ongoing effort.
Reddy, Nirmala. “Council Post: Want a Successful Business? Build an Effective Strategy.” Forbes, Forbes Magazine, 12 Oct. 2022. Accessed 10 Nov. 2022.
Author Nirmala Reddy examines how to start a company with the best chance of success. She investigates the best way to do this by creating an effective strategy. According to her, a strategy is a long-term plan you develop for your business to get it to the desired future position. This strategy should outline the objectives of your business, the kinds of goods and services you intend to develop, the target market for your sales, and the clients you want to attract. She discusses the elements of an effective strategy .In my capstone project, I am studying the features of a successful corporate plan as well as its benefits and drawbacks. Along with discussing world trends and investigating tiny businesses. The backdrop of what your key feature of a plan should primarily contain for it to be successful is better understood thanks to this post.
Kelechi Udoagwu, Kelechi. “The Definitive Guide to Global Marketing Strategy.” Wrike, 11 May 2022, Accessed 12 Nov. 2022.
The author Kelechi Udoagwu gives a thorough description of global market strategies, outlining what they are, the stages involved, how to develop one, the benefits and drawbacks, and successful examples that used this strategy. She essentially stated that knowing what you're doing before you do it is the key to having a successful worldwide market strategy. The key to putting your business out there is having a strategy and a distinct route you wish to follow. You will fail if you don't have a strategy for growth and development. For my capstone project, I am researching what it takes to establish an effective firm globally. Having a clear plan is essential, and this article has given me sophisticated ideas on the many steps you must follow to have the best possible approach.
Abstract of source article authored by ERM Initiative Faculty and Chris Cox. “ERM Enterprise Risk Management Initiative, Poole College of Management, NC State University.” ERM, 1 Apr. 2014, Accessed 12 Nov. 2022.
This NC State article lists five emerging trends that are altering the corporate landscape. A worldwide shift that may frequently be supported by empirical evidence is referred to as a huge phenomenon. PwC (PricewaterhouseCoopers) has seen in recent years that its clients are recognizing and altering their strategy as a result of these global trends. The five identified trends are explained in detail in this article, followed by a summary of each trend's potential implications. For my capstone project, I'm examining what it takes to be successful in business. One important thing you should be aware of before entering this area is how current global trends may affect your company.
Romani, Paul N. "Selling in the global community: the Japanese model." American Salesman, vol. 43, no. 10, Oct. 1998, pp. 21+. Gale In Context: High School, Accessed 15 Nov. 2022.
The author, Paul Romani, describes how developments in computer and telecommunications technology have generated ferocious global competition in the business world. The competition for your clients may soon involve everyone on the earth. This makes it much more important to know these people's precise identities. It is essential to have a good grasp of your target market. Knowing your consumers' needs, wants, and success is one example. After considering such issues, every salesperson would see the necessity of learning more about the cultural influences on their consumers. I'm researching what it takes to be successful in business for my capstone project. This article shows me that before venturing into this field, you should be aware of how current global trends may impact your business. In any event, you should be informed of what the world is up to in terms of technology in order to stay ahead of the curve and maximize earnings.
Adams, Jill U. "How to write a business plan." The Scientist, vol. 18, no. 14, 19 July 2004, pp. 52+. Gale In Context: High School, Accessed 14 Nov. 2022.
The author, Jill Adams, offers advice on how to create a business plan. Raising capital is a critical step in beginning a new business, and crowdsourcing is the best way to achieve it. But in addition to this, you also need to write a business plan that includes a summary of the science, a market analysis, and details on how to grow the company in order to attract investors. Nevertheless, to truly capture investors' attention to your company is to know what you're doing, particularly who's going to buy it, why will they buy it, who will operate it, and will you earn a return on investment. I'm exploring what it takes to be successful in business for my capstone project. This essay illustrates how having investors—who are your major source of success since they offer the money—is equally as important as having a successful start-up strategy.
Gallati, Alexis E. "The best tax strategies for your business." Medical Economics, vol. 98, no. 10, Oct. 2021, pp. 32+. Gale In Context: High School, Accessed 14 Nov. 2022.
According to the author Alexis Gallati, it is always a good idea to know how to handle your money in the safest way depending on the specifics of your business and your future plans. As a result, it is advised to speak with a qualified tax or financial adviser before implementing any of these strategies. In many situations, making money is the primary objective of any business. However, taxes are a reality of life when it comes to making money, and when you're establishing a business, you'll face a lot of taxes that you shouldn't consider negatively. I'm exploring what it takes to be successful in business for my capstone project. This article gives an understanding of the ups and downs of starting a business since it's not always simple to accomplish. You must understand what you are getting into before you take the plunge, in this case understanding that you will have to pay taxes once you begin to make money.
Here is the introduction of my research project where it talks about how businesses are essential in the global world
Businesses are essential to society because they provide goods and services to customers, promote employment development, and generate revenue. Large businesses often dominate the global business market, and individuals seek these businesses to satisfy their physical and emotional needs. However, small businesses should not be disregarded because they have a significant impact on the economy. Compared to bigger companies, small businesses often generate less profit and employ fewer people. They often operate in niche areas and are more prepared to address shifting requests. An efficient plan is essential for small businesses to successfully navigate the global business market. They must know how global trends are affecting the economy and how to take advantage of these trends. With the right plan, small businesses may compete successfully with larger companies in the global business market.
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This poem is for a capstone project and is one of my products that I will be doing. This poem explores the challenges and opportunities facing small businesses in today's global economy. The project highlights the importance of learning essential skills, securing funding and expertise from investors, adapting to changing economic trends, and building a dedicated team with a shared vision. It also emphasizes the significance of developing unique products and services, effective marketing strategies, and sound financial management. In the poem's conclusion, I emphasize the value of connecting and mentorship in assisting small companies in thriving and overcoming whatever challenges they may encounter. The project's overall message is that success is not solely determined by scale and that tiny enterprises may have a big effect on the global economy.
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Small but Mighty
In this global world we live in,
Where big businesses seem to always win,
Small businesses have a chance to thrive,
If they learn the skills to stay alive.
Investors can be a key to growth,
Bringing funding and expertise both,
With the right help, small businesses can soar,
And reach heights they've never seen before.
Global trends and economic influences,
Can make or break a business, it's true,
Adaptation and innovation are the keys,
To stay ahead and succeed, don't you see?
But it's the team that makes it all work,
With passion, dedication, and a drive that lurks,
Small businesses can turn a dream into reality,
With a team that shares the same mentality.
A product or service that's unique,
Can help small businesses find their winning streak,
Marketing with precision and aim,
Creating a brand that's hard to tame.
Finances and bookkeeping can be a bore,
But they're essential to keep track of what's in store,
Profits made and expenses spent,
Can make or break a business, in the end.
Networking and mentoring, peers and guides,
Can offer advice and insights that coincide,
With a vision and plan that's clear and defined,
Small businesses can rise and shine.
For size is not the only measure,
Of success or wealth or treasure,
With grit and determination,
Small businesses can overcome any situation.
So don't be afraid to take a leap,
To pursue your dreams and your beliefs,
Small businesses have much to give,
In a global world, they can truly live.