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- Given the opportunity to own a business that is related to your strand, would you be confident in managing it? Explain your answer.Considering the COVID 19 pandemic and its impact on the general business environment, use the business model canvas to develop a new business that has higher chances of survival, growth and profitability: stating clearly your justifications.Assuming you wish to be sponsored to start your own business, identify any viable and feasible business idea of your choice, and draft a comprehensive business plan for your potential business highlighting on the key features
- As a future entrepreneur, what strategies must you do to remain true to your values and principles when you are challenged or tested? You may cite a scenario in justifying your answer.As a customer of any business, share why you chose to spend your money at this business establishment, and do you feel like this company values “you” as a customer?How will your business proposal contribute to sustainability or environmental responsibility? Dont upload images
- Choose a business with which you're familiar and use it to provide examples of how a business is affected by operating in each environment.__________factors are factors that contribute to winning business from customers. Whereas, ___________factors are factors that must be considered to earn business from customers.If you are starting a business and your product is newly released in the market. If demand is low, what will you do (as the manufacturer or owner) to increase the demand and for your product to be known?
- Would you prefer conduct business with a single proprietorship or a corporation in your regular consumer interactions? Why?Review the Aldi case study on page 169 of your textbook. Assess your satisfaction with Aldi and make recommendations about how the company could modify its business-level strategy to both increase your overall level of satisfaction and to attract new customers. Provide specific examples to support your response. Analyze the five business-level strategies discussed in Chapter 4 to determine which strategy most likely applies to Aldi. Determine how a shopper's experience might change if it switched to one of the other four strategies (your choice). Explain your rationale. The Ripple Effect of Supermarket Wars: Aldi Is Changing the Markets in Many Countries Aldi started as a small, family-owned grocery store located in Essen, Germany, in 1913. Two sons, Karl and Theo, took over the store from their mother in 1946; soon after doing so, they began expanding the business. They emphasized low costs from the very beginning, allowing them to offer their products to customers at low prices…Increasing and optimising customer loyalty and retention is a major part of any successful business strategy. Please provide two examples of companies that use this strategy and explain why they do so.