A software company in Barbados is organizing a competition, inviting business ideas that promote the use of smartphone technology to conduct business. You enter your business plan, an initiative to involve unemployed teenagers and young adults from local communities to generate business and employment, and it was so well received that you were awarded a special prize of 50,000 Barbados dollars. You plan on using your prize money to implement your idea.

REQUIRED

a. Identify key decisions you need to make, the information you require to make these key decisions, and the five major business processes you need to engage in. (5 marks)

b. Identify the external parties with whom you would need to exchange information and specify the information you will receive from these parties and the information that you will send to these parties. (5 marks)