Developing a Sustainable Small Business

Read the case study titled “Pre-Launch decisions which influence innovation success” found in Chapter 7 of your textbook. 

You will then write a four page paper in which the following items are addressed.

Discuss the necessity of short-term and long-term forecasting for developing the key elements of the business plan. 
Evaluate the importance of developing formal and informal networks when building new business opportunities and expanding into new markets.
Discuss the importance of knowledge management in the digital age and identify two (2) risk organizations must address to mitigate competitive pressures.
Consider the various components of a business plan and identify two (2) components that you believe would be the most challenging for you to complete as an aspiring entrepreneur. Next, discuss what could be done to help you overcome this challenge using technology.
Use at least two (2) external sources.

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 SWS 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.

The specific course learning outcomes associated with this assignment are:

Examine the key elements of the business plan and the necessity for developing short-term and long-term forecasting techniques.
Analyze the importance of developing formal and informal networks for assisting new commercial ventures and developing new business opportunities.
Assess the importance of information resources and knowledge management for enhancing the value proposition of the organization.   
Use technology and information resources to research issues in innovation and entrepreneurship.
Write clearly and concisely about innovation and entrepreneurship using proper writing mechanics.