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- 1. What is an entrepreneur? How would you analyse a local entrepreneur you are familiar with. 2. “Every entrepreneur needs to be a leader in their company.” Explain with the help of a suitable example. 3. Entrepreneurship is “high-risk but also can be high reward.” Comment.The foundation is inconsequentialThe syndicate started experiencing growth at all business units. It culminated in an increase in profit margin. As a market leader, the company started investing cripplingly in other ventures therefore widening its portfolio. Such is a story of a certain thrilling Ghanaian own business. Management thought it wise to employ more labour to beef up the shortfall of their employees. Kofi Antobam was lucky to be employed after several years in search of a white colour job. The opportunity had finally come. As part of his job description, he was expected to canvas for customers and possibly deploy all marketing strategies at his disposal to retain the hard-won customers. Coming from a very strong ethical background, and an orphan as well, he gave out all his best to secure the job for good. Growing up as a Christian, with a strong religious background he tried to respectfully lure customers to patronize the company through all ethical means. Antobam was voted…What kinds of strategies might: (a) a small pizza place operating in a crowded college market, and (b) a detergent manufacturer seeking to unveil new products in an established market use to strengthen their business models?
- As a group of aspiring entrepreneurs, you must create a business plan for an Agro-Processingbusiness in any Caribbean country (not an existing business/company). Development and Production PlanMaintaining your output level in order to meet your customers' demands is anecessary skill. As a result, the following questions must be addressed: • Do I need anyone to assist in the production (you may want to be a bitmore specific here)?• If special skills are needed, how can they be acquired and retained?• What are the total production costs?In order to estimate the cost of production you would need to do the following:• Identify all the inputs needed to produce and sell.• Calculate the cost of the production of a specific quantity that you canmanage.• Identify production inputs under the following headings:Fixed cost: Costs that will be incurred regardless of the level ofproduction.Variable Costs: Costs that are directly related to the level of production.The more goods produced, the more…2. A successful entrepreneur may need a support of banking institutions and Non- banking financial institutions. Being an entrepreneur omani, which non- banking financial institutions help is required to run the business smoothly?1. Why are businesses important in the country? In community? 2. What are the 5 steps in the pursuit of an entrepreneurial procedure? 3. What is the Imperfect competition that refers to any form of market structure other than perfect competition?
- Shutterstock was started by an amateur photographer who needed a little extra money on the side. The founder Jon Oringer saw a gap in the market and took it, setting up space online to sell stock images from his personal photo library.He teamed up his hobby of photography with his professional software skills and his side hustle creation became one of the world’s biggest stock companies. discuss core entrepreneurial competencies that relates to Shutterstock stable competencies, talent, recognition of opportunity, managingrisks, being creative in solving problems and building and using networkFind answers to the following questions:a. Why is an entrepreneurial attitude important in largecorporations today?b. What makes an entrepreneurial employee differentfrom other employees?c. How are these employees being rewarded, and arethe rewards worth the effort?1-Are Babbage and Hull entrepreneurs? Explain ! 2-Compare and contrast their personal qualities !
- The most important reward of being an entrepreneur is: Select one: a. Independence b. Wealth c. Professional growth d. Personal satisfaction Technological improvements along an S-curve tend to be ________, building on prior developments, and taking place within an existing paradigm. Select one: a. Comprehensive b. Incremental c. Extreme d. Radical This role of entrepreneurship in economic development is when entrepreneurs combine the factors of production, and also introduces new ideas and new combination of factors. Select one: a. Promotion of capital formation b. Creating social change c. Creating innovation d. Wealth creation and distribution9) Define entrepreneurs and intrapreneurs, and discuss the relationship between them. What makes them different?1._______ A carefully constructed guide for the personstarting a business.2._______ A group of retired and active business peoplewho volunteer their services to small businessesthrough the SBA.3._______ A government agency that assists, counsels, andprotects the interests of small businesses in theUnited States.4._______ Money that is invested in small (and sometimes struggling) firms that have the potential tobecome very successful.5._______ Group of senior and graduate students in business administration who provide managementcounseling to small businesses.6._______ A business that is independently owned andoperated for profit and is not dominant in its field.7._______ A person or organization purchasing a franchise.8._______ A license to operate an individually ownedbusiness as though it were a part of a chain ofoutlets or stores.9._______ The actual granting of a franchise.10. _______ An individual or organization granting a franchise.a. venture capitalb. franchiseec. joint…