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2. Explain the problems we would have if there was a “law of entrepreneurship.”
3. How does each of the four attributes of resources contribute to SCA?
4. What is the difference between competitive advantage and sustainable competitive advantage?
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- 1 – According to the I/O model, what should a firm do to earn above-average returns? 2 - What does the resource-based model suggest a firm should do to earn above-average returns? 3 - Why is it important for a firm to study and understand the external environment? 4 - What are the differences between the general environment and the industry environment? Why are these differences important? 5 - How do the five forces of competition in an industry affect its profitability potential? Explain. 6 - Why is it important for a firm to study and understand its internal organization? 7 - What is a business model and how do business models differ from business-level strategies? 8 - How do awareness, motivation, and ability affect the firm’s competitive behavior? 9 - What is corporate-level strategy and why is it important? 10 - What motives might encourage managers to over diversify their firm?Multiple choice 4.0 The entrepreneurial process involves the following A opportunity B Resources C leadership and team D All of the above 5.0 Which of the following represents the entrepreneur school of thought A The entrepreneur B The Business environment 3 C The enterprise D the strategy 6.0 which of the following is not a challenge for SMEs sector? A lack of access to finance B lack of opportunities C Lack management skills D Lack of access to marketsCreating the Competitive Advantage for Small BusinessDuring an economic crisis, small businesses are often the first victim. Due to limited resources, small businesses cannot sustain the operation of their business. If they cannot cover the fixed cost, entrepreneurs choose to throw in the towel and give up. However, some entrepreneurs are, though, with the ability to bounce back immediately. The key to their success is their ability to unlock the industry’s competitive landscape. Previously we discussed Porter’s competitive advantage. Experts noticed that those small businesses that immediately recover and even thrive during and after the crisis understand the competitive landscape. These are the businesses that succeeded in pursuing a competitive strategy that falls in terms of providing the low-cost market product, differentiates their product over competitors, or used the focused approach. For instance, Panda food delivery is not a “new” idea. Before the advent of the internet…
- Read the following case and conduct strategic position bring out business model components and competitive advantage. The economy of Pakistan is rift with small-to-medium-sized enterprises (SMEs). This simply reflects the entrepreneurial spirit of managers within the country. Ministry of Economic Affairs, Economic Affairs Division Pakistan estimates SMEs with fewer than 20 staff make up some 96% of all businesses in and 86% of these have fewer than five staff. Pak-Juices is a local company that produces award-winning spirits and spring water that uniquely utilizes pure water from northern regions of Pakistan. Established in the 2008, by advertising executive and now company CEO Aslam Qureshi, it started exporting in 2013 and today its products are sold in the top restaurants around the world. Significantly, says commercial manager Amjad Khalil, export sales surpassed domestic for the first time in 2015 (full year). There are two ways a firm can grow first organic…In competitive markets economic profit becomes zero in the long-run. However, it is also possible for somefirms to earn a greater accounting profit and to enjoy a higher producer surplus than other firms. How is it possible?1. What is task environment and how does it influence the firm? 2. How can Porter's five forces be used to analysis the external environment? 3. What are the reason for forming strategic alliances? 4. Discuss the benefits of franchising? Answer 1,2,3,4 briefly and concise
- Read the case study below and make your recommendations to Jane about whether she should pursue entrepreneurship based on the information provided. Jane Browne recently completed her college education. She has decided to start her own business because she has been unable to find work. She is unsure whether she possesses the personal qualities or qualifications required to become an entrepreneur. She isn't sure which type of business ownership is best for her. You discover the following information while speaking with Jane. She doesn't have a lot of money in the bank. Six months from now, she will be required to begin making payments on her student loans. She has a few friends who are also unemployed. They each have a small amount of money. They are all trained in the same field. She has a lot of great ideas for how to run her business. She does not want to share or change her ideas, and she is unsure how she will work in a team. She is not afraid of working long hours. When she was in…What are the differences between organic and inorganic growth? What are some of the different ways a firm can grow inorganically?Why is it important to understand the drivers of profitability, as measured by ROIC?
- 6 - Why is it important for a firm to study and understand its internal organization? 7 - What is a business model and how do business models differ from business-level strategies? 8 - How do awareness, motivation, and ability affect the firm’s competitive behavior? 9 - What is corporate-level strategy and why is it important? 10 - What motives might encourage managers to over diversify their firm?1. What do you think are the the ideal business plan implementation steps that shouldbe followed by and entrepreneur? 2. Assuming that you have your own business, what arr your waysto improve its marketing, operational, financial aspects to achieve continous success?Help me to do Space Matrix of Netflix, which are Company's competitive advantage, Industry strength, Environmental stability, Company's financial strength. Please include drawing or photo of the cartesian graph.