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- In Hick’s article ‘How can we Make Entrepreneurs’, he suggests that the reason the United States has so many innovative, successful entrepreneurs is ___________________, Parents in the United States often encourage their children to have more freedom to explore and develop their interests either in after-school programs or on their own outside of school. Our school system is geared toward business and production The United States has a strict discipline model in our school system that molds students into hard-workers and persevering individuals. The corporate model in the United States turns individuals into entrepreneurs after their formal educationNow that you have identified a problem, provided a business idea to solve the problem and alsoreflected on your own entrepreneurial characteristics and possible business risks, you are nowgoing to interrogate whether your idea is indeed a business idea or a business opportunity, youwill also analyse the environment to assess whether environmental conditions are favourable foryou to enter into the business world.As with other tasks, you will need to conduct research beyond the textbook in order to completethis task.1. Justify whether your proposed solution/idea meets the characteristics of a successfulproduct or service idea.NB: Refer to characteristics of a successful product or service idea.discuss how this equation can be distilled into two component ratios: ‘margin’ and ‘turnover’, and explain how the relationship between these component ratios gives an entrepreneur a tool to maximize profitability.
- Personal experiences, hardships, and a desire to overcome adversity frequently catalyze entrepreneurship (Robb, 2022). Santosh Kshirsagar, the founder of Dragon Karate Sports, is a case study on the transformative power of determination and pursuing one's passion. This case focuses on Santosh's entrepreneurial path, which began with humble beginnings and progressed through several hurdles to develop a thriving karate institution in Kolhapur. Hence, this case study centers around Santosh Kshirsagar, a dedicated individual who started on an entrepreneurial adventure to establish his karate academy, Dragon Karate Sports, despite various hurdles and hardships. Santosh Kshirsagar's entrepreneurial career is a fantastic tale of perseverance, determination, and pursuing a dream. Despite having an absent father and a troubled family, Santosh found refuge and inspiration in karate. The presence of a karate academy near his brother Amit's college piqued Santosh's interest in the sport at a young…You are about to finish the business degree in near future. There are different options afterwards, most of the students seek job opportunities, and many of the students decide to manage their family businesses. In recent times, entrepreneurship studies got much interest among young graduates and people tend to establish independent units. If you choose to become an entrepreneur, why would you choose to be? In case you choose not to become an entrepreneur, what would be the reason? Also prepare your own SWOT analysis.Mr. Ameer, the founder of Howdy, famous fast food restaurant in Islamabad, is considering expanding his menu, which is currently restricted to steak, burgers, potatoes, and fries. He has just read a book about entrepreneurship and learned that entrepreneurs should study ‘social trends’ to help identify new product opportunities. List the ‘social trends’ that might help Mr. Ameer to choose items to add to his menu.
- 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…Theo Chocolate Seattle’s Theo Chocolate specialises in the divine. The coca that the chocolate maker harvests to produce its delicious candy bars comes from a tropical evergreen known as Theobroma cacao – translated literally, “food of the gods”. The heavenly flavour that resides in the plants cacao pods helps sustain the worldwide confectionery industry, and Theo is one of the newest companies to master the art of cacao cultivation. Founded in 2006 by Joseph Whinney, Theo Chocolate prides itself on being the first organic and Fairtrade Certified chocolate maker in the United States. In addition to producing world-class chocolate, Theo integrates ethical standards throughout its entire business, all the way from the cocoa farm to the candy rack. When Theo first started its production, the company offered an exotic line of dark chocolate and milk chocolate bars and truffles. These early treats had unusual names such as Coconut Curry, the 3400 Phinney Bar, and Bread &…Theo Chocolate Seattle’s Theo Chocolate specialises in the divine. The coca that the chocolate maker harvests to produce its delicious candy bars comes from a tropical evergreen known as Theobroma cacao – translated literally, “food of the gods”. The heavenly flavour that resides in the plants cacao pods helps sustain the worldwide confectionery industry, and Theo is one of the newest companies to master the art of cacao cultivation. Founded in 2006 by Joseph Whinney, Theo Chocolate prides itself on being the first organic and Fairtrade Certified chocolate maker in the United States. In addition to producing world-class chocolate, Theo integrates ethical standards throughout its entire business, all the way from the cocoa farm to the candy rack. When Theo first started its production, the company offered an exotic line of dark chocolate and milk chocolate bars and truffles. These early treats had unusual names such as Coconut Curry, the 3400 Phinney Bar, and Bread &…
- Tshepo is the Marketing manager for Eureka hardware. Tshepo is very successful in his career and because of his good performance, he was rewarded with an employee of the month award, which he proudly displays in his office. Tshepo attributes his success to hard work and good luck. Tshepo is also a superstitious man and wears a jacket that his grandfather gave him, for good luck. Tshepo yearns to have his own successful business one day that he can leave to his children to take over when he retires. Based on the above scenario, identify the three (3) different ways in which Tshepo is using possessions to extend his self-concept. Provide examples of each from Tshepo’s case.For small business startups, why should new entrepreneurs lease major equipment and premises instead of purchasing them? a. To benefit from government rebates that favour leasing vs. buying. b. To conserve working capital c . Premiums to insure property that is leased cost significantly less than property that is owned. d. To attract tenants, commercial landlords typically include leasehold improvements. Leasing premises would reduce startup costs for entrepreneurs compared to those who choose to purchase land and building in which to locate their businesses.Describe the difference between strong-tie and weak-tie relationships. Is it more likely that an entrepreneur will get new ideas through strong-tie or weak-tie relationships? Why? Give an example of a strong-tie and a weak-tie.
