Chapter 3 Entrepreneurial ChallengeRead and Complete Chapter 3 Entrepreneurial Challenge (page 128): BUILD YOUR OWN BUSINESS. You will complete these assignments for each chapter throughout the semester and put together a final report at the end of the semester. Write an analysis addressing the following:Your business needs to take advantage of ebusiness and Business 2.0 strategies if it wants to remain competitive. Detail how your business could use Web. 1.0 and Web 2.0 to increase sales and decrease costs. Be sure to focus on the different areas of business such as marketing, finance, accounting, sales, customer service, and human resources. You would like to build a collaboration tool for all of your customers and events. Answer the following questions as they pertain to your business.What type of collaboration tool would you build?How could you use the tool to facilitate planning, product development, product testing, feedback, and so on. What additional benefits could a customer collaboration tool provide that could help you run your business?Instructions for your submission: Open the Word document from your previous submission:”Entrepreneurial Challenge-YourName”.You will be using this document throughout the semester.Make any requested changes from feedback received in previous weeksAdd a bold heading titled: Chapter 3: EbusinessFollow the formatting requirements belowBe sure your analysis is clear and organized.Change the Footer on the Word document to: Left (Your Name), Middle (Page number), Right (semester, year).Submit “Entrepreneurial Challenge-YourName” prior to the due date and time.Formatting Requirements:Times New Roman, 12 point fontOne-inch margins (indent first line of paragraphs 1/2-inch)Double spaced (no extra spacing before or after paragraphs)Correct spelling and punctuationComplete sentences