LEMONADE STAND, PART I Background As you have read about in our lecture, we have used a lemonade stand to help us understand some basic concepts of business. As we pointed out, a lemonade stand has a simple business structure; yet, it can help us understand almost every function of a firm; such as marketing, operations, finance, technology, entrepreneurship and many other aspects. In our two assignments in this course, you will own and operate your very own lemonade stand as you apply the knowledge you have learned from the course. Scenario You have decided to open a lemonade stand in your local neighborhood. You have grand plans for this stand and expect to attract many customers.
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