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- What are you to do as a budding entrepreneur in the following situations? 1. Iverson loves arts and crafts. With this in mind, he is contemplating doing a business out of his hobby and skills. What are some of the risks that he has to face? Give 1-2 examples 2. In their family business, Carla takes charge of getting more sales for the company and providing excellent customer service. One time, a new customer argued via private message, saying that she did not like how the sauce of the marinara was too sour for their family’s liking and added they prefer a sweeter one. How does Carla respond? 3. Jaymee and Jewelle saw an opportunity this pandemic to create DIY phone cases and introduce them via online means. What are some things you could do to make your product What are some things you could do to make your product become salable.? Give 1-2 examplesCASE 2: SURVEY FEEDBACK AND PLANNED CHANGE AT HEALTH SOLUTIONS Health Solutions ( www.cambiahealth.com) is a nonprofit total health solutions company dedicated to transforming the way people experience the health care system. Located in the Pacific Northwest and intermountain region of the United States, Cambia's portfolio of companies spans health care information technology and software development; retail health care; health insurance plans; pharmacy benefit management; life, disability, dental, vision, and other lines of protection; alternative solutions to health care access; and freestanding health and wellness solutions. The largest business in the portfolio is Regence Health, a health insurance plan associated with the Blue Cross and Blue Shield brands. Regence Health is over 90 years old and operates in Washington, Oregon, Idaho, and Utah. To support this increasingly broad portfolio, had restructured itself into two divisions: Regence Insurance Holding Company and Direct…One of the common barriers of starting a business for the entrepreneur is not being able to generate a business idea. However, there are elements that one can use to generate these business ideas, such as from skills, expertise and aptitude, from common needs, from existing problems, from everyday problem and form other sources. In relation to theelements highlighted discuss and explain how the business ideas are generated.
- 1. _____ nurture young firms and help them to survive and grow during the startup period when they are most vulnerable. a. Successful graduates b. Business incubators c. International trade organizations d. Conglomerates 2. Which of the following best describes one of the contributions of small businesses? a. They are sources of new ideas or services that larger businesses may be unable to provide. b. They provide large capital gains to the owners. c. Their products and services are sold at prices that are lower than large businesses' prices. d. They provide economies of scale that large businesses cannot match. 3. Most creative entrepreneurs are very good managers. a. True b. False 4. An entrepreneurial venture is characterized by: a. innovative strategic practices and/or products. b. independent ownership and operation and no desire for dominance in its field. c. no scope of growing large, and the owners…1. Discuss the costs and benefits of writing a business plan. 2. Who should write a business plan? Who should not bother? Who must write a business plan? 3. Why are the preliminary sections so important?A firm’s sound business model can contribute significantly to the ability to sustain business in the long run. Nevertheless, there is never a one-size-fits-all approach as different organizations with relative traits and attributes would probably require different business models that work. In a tabular format (using a table), describe the business model for three different organizations, namely a typical brick-and-mortar fashion retailer, a click-and -mortar high-street fashion retailer like Zara, and a pure-play e-commerce store like Boohoo. You should include all EIGHT (8) components, but you may indicate “Not applicable” in case they are not relevant.
- A. How does a corporate startup grow? How it is different than other/traditional strategies of corporates? Solve on paperActivity :- What are the problems faced by small business in general - Identify the problems/challenses - Recommended solutions to solve the problems Challenges List 10 problems and their solutionsActivity: Answer the following questions, thoroughly. 1. Why “sound business idea” is important to the entrepreneur? 2. How may business ideas be generated? 3. In what way may a person’s acquaintance be a source of business ideas?
- As part of an organisation that promotes women entrepreneurship, please assist with writing abusiness plan for a group of women who wants to establish a Fitness Centre for women. Write out a businessplan for them that encompasses the following:- Details of the Enterprise- Executive Summary- Mission and Objectives- Business Information/description- Personnel and Organisation- Market information (Limit to location, target customers, strengths and weakness of the enterprise). thanks,Answer the question in paragraph format What strategy should an entrepreneur employ when selecting a personal board, an advisory board, or a board of directors?Noting the accomplishments of Mr. John Francois as a successfulbusinessman, who is seeking to expand/grow the business, he mayneed to consider segmenting the products offered into strategicbusiness units (SBUs). As the Consultant, you are required to adviseMr. Francois and his Management Team about the most appropriatemodel that could be used.How would you advise Mr. Francois and his Management Team so thatthey understand clearly how to use the most appropriate model forgrowing the business?
