Overview: The final project for this course is the creation of an impact of governmental action on a business paper. For Milestone One, you will submit a topicselection short paper. Key to your success is providing the background to thoroughly address each of the critical elements. The business topic will be the sameone that you created in your MBA 560: Marketing and Strategy course. If the idea has not yet faced some significant government impact, you will need to identifyone or more government impacts that the business idea would be likely to face. See examples in the prompt.Governments at all levels—federal, state, and municipal—exert a significant influence on business. The impacts of these influences may be negative, such as theimposition of costly regulations, or they may be positive, such as the provision of financial incentives for the creation of new jobs. Both negative and positivegovernmental actions present challenges for businesses: the impact of the action on the business’s “bottom line,” how public opinion will be influenced by thebusiness’s response to a particular action, and the ethical issues associated with each response, for example.Prompt: Your short paper should identify and briefly describe the business that you propose to study and describe the government impact that it has faced orwould be likely to confront. Make your case for why the business and government impact you select are appropriate subjects for the final project. If yourinstructor believes that your choice will not provide sufficient material for you to achieve success with the final project, you may have to select a differentbusiness and/or government impact.Your macroeconomic evaluation should answer the following prompt: Select a business that has faced, or is facing, governmental action, and analyze the impactof this action on the business. Ideally, the business that you select will be the same one discussed in the business plan you created for MBA 560: Marketing andStrategy. If that company does not yet exist, you should choose one in the same area of focus that is facing a governmental action, regulatory issue, or politicalchallenge, with instructor consultation and approval. This is important because the analysis you complete now should help inform your knowledge of potentialsituations or challenges facing your business product, service, or other idea from your business plan. While your area of focus may be different from the possibletopics and situations listed here, these should still give you an idea of the type of situation for which to look.Topic Starbucks’s Corporation and the decision to close stores across major cities due to increase the minimum wage in that citySpecifically, the following critical elements must be addressed:I. Topic Selection:A. Business Profile: Provide a brief profile of the business and the industry it occupies, including the business’s market share and competitors, aswell as opportunities and threats facing the business and industry outside of the particular governmental action now facing the business.B. Governmental Action: Analyze the potential governmental action or political challenge that will affect the business in this particular situation.RubricGuidelines for Submission: Your paper must be submitted as an 2-3 page Microsoft Word document with double spacing, 12-point Times New Roman font, one inch margins, and sources cited in APA format.