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Individual Project: Report 1 · Final submission due in Unit 6· Worth 20% of th

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Individual Project: Report 1· Final submission due in Unit 6· Worth 20% of the final grade· To be submitted online (Turnitin). Please resubmit ALL materials needed as part of this project to the “Report Part 1” Turnitin assignment Unit 6.ObjectivesOn successful completion of this assignment, students should be able to· define the legal forms a business may assume,· understand the advantages and disadvantages of the various legal forms of business and how to make an appropriate choice,· define the roles of his or her new business’s management team, and· develop strategies for motivating the management team.Brief DescriptionOrganizations have legal and management structures that guide the way they operate, make decisions, and determine the relationships between functions and the roles employees fill. This unit will assist you in determining the form, personnel, and functions of the business.Submission InstructionsSubmit Part 1 of the individual project which includes the work from the first five units which are the business idea, concept statement, first screen analysis, business model and competitor analysis Using the feedback you received prepare a document that includes the details in the rubric for this assignment.Late Submission Policy· This assignment is subject to the Late Submission penalty policy, namely 5% per day for three days.· This page will close and will not allow further submissions after this Late Submission period has expired.· In the event of an emergency situation preventing you from submitting within this time frame, special permission must be obtained from your instructor. Documentation substantiating emergency is required. In such a circumstance, if the extension is granted, the professor will reopen the submission function for you on an individual basis.· Please do not email your submissions to your professor, either before or after the due date; all coursework should be submitted through the online course (Moodle).Evaluation and FeedbackActivity/Competencies Demonstrated% of Final GradeClearly identifies the purpose of the business and the key stakeholders/15Discusses the target market and how this product/service satisfies needs for this group/15Evaluate key issues using the PESTEL model that may impact the business or the target market/15Identify the financial requirements to launch the business and your plan to secure the funds/15Identify the competition in the market in terms of size, years in business, reputation, cost and other relevant factors/15Articulate the strategy you will implement to compete in the market/15Demonstrates good organization, including a strong introduction and conclusion./10Total/100

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