1. Could writing a conventional business plan ever cause more harm than good? Explain youranswer?2. If you wanted some assistance in setting up and running a new business, you might look atbusiness incubators as a solution. What kind of assistance would you consider the mostvaluable?3. Given the risks involved in starting any company, should an aspiring entrepreneurinvestigate all possible failure scenarios and develop action plans to avoid these potentialoutcomes? Explain your answer. 4. How do autocratic, democratic, and laissez-faire leadership styles differ?5. Ethical considerations. Apart from meeting the company's future talent needs, do managershave a personal ethical obligation to help their employees develop and advance in theircareers? Explain your answer.6. What are the advantages and disadvantages of the unstructured organizational model?7. Suppose you are the marketing manager of the credit-card department of a financialinstitution. Your objective is to support the company's growth through a market-penetration strategy. How would you apply this strategy to increase the profitability of yourcompany's credit cards based on current market conditions?8. Is the job of a local marketing manager any different from that of an international marketingmanager? If yes, how is it different? Explain your answer.9. Is it ethical for companies to split-test price points by offering different prices to differentgroups of customers? Why or why not?10. What are the activities that salespersons engage in during a typical working day? What aresome of the job responsibilities of a salesperson? What are the most importantcharacteristics a salesperson should possess?

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Foundations of Business (MindTap Course List)

6th Edition

ISBN:9781337386920

Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Chapter4: Choosing A Form Of Business Ownership

Section: Chapter Questions

Problem 6DQ

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Writing a business plan is your map to how you are going to operate. Regardless of whether you are interested in taking over an existing business or starting a new one; they both have challenges that you will need to overcome in order to succeed. Discuss one of the challenges in starting a new business and how you may be able to address that challenge with a well-designed business plan. Your challenge can be unique to either a start-up or on-going business or both.
Could writing a conventional business plan ever causemore harm than good? Explain your answer?
How can an entrepreneur determine which risks to take and which to avoid?
You plan to open a new business. Before you can approach a potential investor, you will need a strong plan. Describe the purpose and components of a business model and write a one-paragraph business model description for a business of your choice.
4. What are the characteristics of the marketplace? characteristics of the marketplace you are about to enter, and not just about entrepreneurial brilliance. If you decide to enter into a declining market that is full of strong competition, you will multiply your chances of failure. On the other hand, enter into a market that is merging, growing, and has few competitors and you will stand a higher chance of being successful. Features of the marketplace you are about to enter? Is the market growing, or receding in size? If it's growing, among which age and income groups. Do you have to know if the marketplace is shifting from offline to online delivery? If so is the traditional marketplace moving towards the website, mobile, and/or tablets.
You have been asked to teach the employees of a small start-up business how new ideas may be converted into viable business opportunities. In this activity, you will conduct your own preliminary research into ways in which new business ideas can be turned into opportunities. The differences between business ideas and opportunities; The characteristics of a viable business opportunity; Ways in which business ideas can be turned into viable business opportunities
Note the quotation from the extract below and discuss the various methods of generating ideas entrepreneurs who have closed their start up can utilise to "Bounce back" using your OWNexample to support you discussion. “The pain of closing a business can overwhelm founders, whose identity is intertwined with that of their venture. Failedfounders wonder what they’ll do next—are they employable? Adding to their worries, their personal finances may be inshambles. Most entrepreneurs cut their own salaries as their venture goes into decline, and many have invested theirlife savings in the startup—along with funds from friends and family.
It Ways Of starting a business. You will U Die entrepreneurial process, which starts with identifying and evaluating the opportunity. The heart of this module is the scanning of the marketing environment where you formulate a product or service solution applying the techniques of seeking, screening, and seizing opportunities. As a result, you will deal with analyzing the need of the market, think of the potential set of products or services that will meet the need, assess the feasibility of the solution, and select the best product or service De that will address the need. • PRE-ACTIVITY Directions: Answer the following. 1. In a scenario where you are creating a product to sell, what are the things that you need to consider? Why? 2. What are the role of your neighbors, friends, family members and the community if you are going to put up a business? 3 |Page
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Everyone has the same chance to identify entrepreneur opportunities. However, those who have high level of entrepreneur alertness are likely to identify potential entrepreneurial opportunities. True or False?
Explain the four types of Preneurs and Give two example each; > Intrapreneurs > Solopreneurs > Entrepreneurs > Investorpreneurs

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1. Could writing a conventional business plan ever cause more harm than good? Explain your answer?