The goal of all businesses is to make money, but those that have a purpose beyond profit tend to do better. Write your reflection about this statement.
Q: What is the primary motivation for the typical entrepreneur?
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Q: As an entrepreneur, you’ll face lots of tough and sometimes ethical decisions. In the situation…
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Q: Compare and contrast the advantages and disadvantages of starting a business from the ground up. Be…
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Q: the only responsibility of business is to maximize profits? Why or why not?
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Q: What are the dangers if an entrepreneur starts a business without a business plan?
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Q: How are you going to use your skills in pursuing entrepreneurship as a career?
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Q: 2. What can the entrepreneur do to increase the chances of his product being purchased or…
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Q: Tell me about the way you run the business.
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A: The answer is
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Q: What does Business Beyond Profit mean?
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The goal of all businesses is to make money, but those that have a purpose beyond profit tend to do better. Write your reflection about this statement.
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- If you had to start a business right now and generate profit as quickly as possible, what kind of business would you start? Explain your answer.How will you know if your business is making profit or not?According to the extract, entrepreneurial activity includes developing and launching new businesses and marketing them, often with the end goal of selling the business to turn a profit. Based on this, indicate a product or service you plan to start a business with. Explain how you generated the business idea and determined the feasibility of the idea.
- One of the first steps for starting your own business is to decide what type of business you want to start. Take some time to think about this decision. Before proceeding, answer the following questions:• Why did you choose this type of business?• Why do you think this business will be successful?• Would you enjoy owning and operating this type of business?What is the difference between a good businessman and a good man in business?Based on your total life experience up to this point—as a student, consumer, employee, parent, and anyother role you’ve played—what sort of business wouldyou be best at running? Why?
- Should you write a business plan even if you do not need outside financing? Why or why not?If you were one of the founders, how would you prioritize how you spent your time in the first weeks on the job after getting the venture capital funding?Is the only responsibility of business is to maximize profits? Why or why not?
- What personal and business goals would you hope to achieve by starting your company?You have just graduated from the MBA program of a large university, and one of your favorite courses was “Today’s Entrepreneurs.” In fact, you enjoyed it so much you have decided you want to “be your own boss.” While you were in the master’s program, your grandfather died and left you $1 million to do with as you please. You are not an inventor, and you do not have a trade skill that you can market; however, you have decided that you would like to purchase at least one established franchise in the fast-food area, maybe two(if profitable). The problem is that you have never been one to stay with any project for too long, so you figure that your time frame is 3 years. After 3 years you will go on tosomething else. You have narrowed your selection down to two choices: (1) Franchise L, Lisa’s Soups, Salads, & Stuff, and (2) Franchise S, Sam’s Fabulous Fried Chicken. The net cash flows shown below include the price you would receive for selling the franchise in Year 3 and the forecast…As an entrepreneur, you’ll face lots of tough and sometimes ethical decisions. In the situation described below, what do you think is the right thing to do. A potential customers wants to visit your place of business. Should you introduce friends as “employees” and “customers” so your firm looks bigger and busier?