Entrepreneurship, Franchising and Small Business.

1460 WordsAug 5, 20116 Pages
Introduction to Business Assignment #01: On Chapter #3 & #4 Chapter #3: Entrepreneurship, Franchising and Small Business. 09. Why would a person want to own a franchise of a major well-known franchisor? 10. What is an intrapreneur? Why do some firms encourage intrapreneurship? Chapter #4: Social Responsibility and Business Ethics. 09. Why is insider trading illegal? Chapter#3: Entrepreneurship, Franchising and Small Business Question #09: Why would a person want to own a franchise of a major well-known franchisor? Answer: While many people desire to open and operate their own independent business, there are quite a few obstacles that most face. Starting a business from scratch can be very intimidating and most…show more content…
Minimized Business Risks Because the franchisee is buying a proven business concept, the business risks involved are largely minimized. The parent company has already resolved most, if not all, of the problem areas in its systems and procedures. What the franchisee is getting is a refined package of technical expertise, marketing strategies, and operational systems. There are many advantages to be found in buying a franchise that make starting your own business that little bit easier. When faced with starting your own business it can sometimes be the simple solution. Some well-known Franchisor – [pic] [pic] [pic] [pic] [pic] [pic] [pic] [pic] Chapter #3: Entrepreneurship, Franchising and Small Business Question #10: What is an intrapreneur? Why do some firms encourage intrapreneurship? Answer: An employee who takes responsibility for developing an innovative idea into a marketable product is known as an intrapreneur. Intrapreneurship is an independent and daring management concept and has worked very successfully in small and new business organizations. [pic] Innovative corporate management style encourages employees within an organization to create new product ideas. If employee ideas are approved, management will finance research and development of the product while sharing
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