Starting a business is full of exciting challenges and potential learning opportunities gained from the risks that come with it. Understanding these unique obstacles may prepare professionals to handle them if they encounter any as they start a business." With reference to the above statement, critically analyse the major challenges that entrepreneurs and SMMES face in South Africa as well as possible solutions to these problems
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"Starting a business is full of exciting challenges and potential learning opportunities gained from the risks that come with it. Understanding these unique obstacles may prepare professionals to handle them if they encounter any as they start a business."
With reference to the above statement, critically analyse the major challenges that entrepreneurs and SMMES face in South Africa as well as possible solutions to these problems
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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.The Internet puts small businesses on the same footing as large organizations by providing an inexpensive platform for interacting with customers and selling products and services. With their global reach, social networking sites are a good example of how the Internet can level the playing field. Here are five ways that small businesses can take advantage of these sites: • Creating local social networks—Small businesses can use sites such as Yelp (www.yelp.com), which help people find local restaurants, dentists, hair stylists, mechanics, and so on. People also use these sites to find out about upcoming events, take advantage of special offers, and talk to other customers. • Creating a blog or social hub—This allows small businesses to keep customers engaged by creating useful content such as how-to-do lists or industry insights. • Using Twitter—This allows small businesses to connect with their consumers in real-time. • Creating a Facebook fan page—This allows small businesses to…
- If I want to startup in India What would be the practical steps for starting up my journey to my own venture? All the practical steps that I need to go through ,that would save my time and money as well.1. Could writing a conventional business plan ever cause more harm than good? Explain your answer?2. If you wanted some assistance in setting up and running a new business, you might look at business incubators as a solution. What kind of assistance would you consider the most valuable?3. Given the risks involved in starting any company, should an aspiring entrepreneur investigate all possible failure scenarios and develop action plans to avoid these potential outcomes? Explain your answer.4. How do autocratic, democratic, and laissez-faire leadership styles differ?5. Ethical considerations. Apart from meeting the company’s future talent needs, do managers have a personal ethical obligation to help their employees develop and advance in their careers? Explain your answer.6. What are the advantages and disadvantages of the unstructured organizational model?7. Suppose you are the marketing manager of the credit-card department of a financial institution. Your objective is to support the…The founder of TikTok and ByteDance Zhang Yiming is considered a successful entrepreneur. Discuss in detail the following three characteristics of a successful entrepreneur: having an entrepreneurial mind-set; being alert to opportunities; and the ability to deal with uncertainty.
- What are the advantages and disadvantages of using an Excel spreadsheet in all aspects of business? What industries do you think would benefit most from the Excel spreadsheet application?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…Khaveena plans to open a start-up company to manufacture skin care products in Rawang Industrial area. She has 20 years working experiences in the skin care industry. In her business plan, she plans to sell a variety of skin care products and will be marketed to several ASEAN countries. She seeks your opinions on additional business strategies that should be included in her business plan. What are the indicators of a good business plan? How do you know that the business venture has the qualities of promising business opportunity? Explain FOUR (4) feasibility analyses that Khaveena must conduct to know the viability of the business. Do you think it is worth for Khaveena to market her company’s products through ASEAN country? Justify your answer.
- A)What are the skills needed for an Entrepreneur to minimize the Risk in this modern world? B)What is the difference between Gordon method and Brainstorming? c)What are the important factors that an Entrepreneur should keep in mind when conducting business activities across national boundaries?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…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.
