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Differentiate the following:
Entrepreneurship vs. Employee
Step by step
Solved in 2 steps
- Why might a business hire an entrepreneur to meet their organizational goals?Explain the managerial skills that makes a successful entrepreneurSelect the following statement that is accurate regarding entrepreneurs. Entrepreneurs must always make decisions for the company they started. If an entrepreneur wants to reduce their risks, they can pass the risks on to a CEO. Entrepreneurs only need a willingness to take a risk to start a business. An entrepreneur can fire and replace the managers of their company.
- Marginal profits can never be zero True/FalseWhich of the highest-paid CEOs in US businesses are involved in healthcare or related industries (insurance, pharmaceuticals, etc).ropose potential entrepreneurial and visionary business solutions for manufacturing industry. Use managerial economic theories to support your arguments
- WHICH OF THE FOLLOWING CONCEPTS OF PROFIT TAKES INTO ACCOUNT THE OPPORTUNITY COST OF CAPITAL A. MANAGERIAL PROFIT B. FINACIAL PROFIT C. ECONOMIC PROFIT D. ACCOUNTING PROFITIs Human Resource Management different for a multinational company operating in many countries compared to a company whose business is just confined to the U.S.? Using the relevant literature in your textbook, what kind of recruitment policy would you recommend (hint: polycentric? geocentric? etc.) and why? Use examples in your answer.Entrepreneur's potential earnings as a salaried worker = $40,000 Annual lease on building = $25,000 Annual revenue from operations = $420,000 Payments to workers = $150,000 Utilities (electricity, water, disposal) costs = $8,000 Value of entrepreneur's talent in the next best entrepreneurial activity = $80,000 Entrepreneur's forgone interest on personal funds used to finance the business = $6,000 Creamy Crisp Donut Company Multiple Choice has lower explicit costs, than implicit costs. is earning a normal profit but not an economic profit. is earning an economic profit. is suffering an economic loss, when implicit costs are considered.