Business Initiative and Technology
BUS521 Week 9 Assignment
Shakonda Morgan
Prof Godwin
BUS521
Strayer University
5/12/2015
Business Initiative and Technology
Introduction
The market dynamics are complex and due to this every business requires different type
of strategies in order to ensure growth while executing their plan. The conditions are tough, so it
is very necessary that every business should develop certain types of techniques, which are
compatible with the requirements of the market and business needs. The most suitable strategy
for the business is that, it should always analyze each opportunity available and also formulate
some contingency plans for executing and implementing certain kinds of policies, which will
help the business in generating revenue on continuous basis. These types of strategies moves and
complete analysis of the opportunities are essential because it will help the business to expand its
operations according to the needs of the market and gain some confidence among the customers.
This is important for allocating the resources in the right direction with the best
opportunity available. The world is operating very fast and this is the reason that, if a particular
business wants to get its piece of cake than certain steps are necessary for implementing the
strategy. The steps are related to the selection of the right technology, analyzing all the
opportunities, customer needs, business initiatives, the quality of the service and most
importantly the policies associated with the different technologies. So as per the business plan
related to a low cost collection agency, it is really essential for the service providing agency to
conduct a deep analysis of the different factors and develop a report which is fully capable of
addressing these issues. Let’s develop this report in order to examine the business plan from
different aspects.
Analyze the options available for producing the product or service. Next, evaluate which of
the available options you can take to streamline operations.
Business Initiative and Technology
The market conditions for the implementation of this kind of startup business plan are
tough, although the market space is present due to the concept of low cost collection agency but
different options has to be analyzed in detail in order to compete with the competitors. The
technology used by the competitors is considered as state of the art but this has also resulted into
an increase in the cost, which eventually results into an increase in the charges of the services.
The project under consideration is unique because of its low cost factor, so it is important to keep
this factor and utilize the best opportunity available in terms of producing this kind of service. As
mentioned earlier that the market conditions are complex, so the eligibility criteria for a selecting
a technology should be that; it should be compatible with the needs of the market and business
(Entrepreneur, 2010).
The team management of the business has adopted a strategy related to the use of
