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What do you think will be the growth areas (in products, services, and geographic areas) for franchises in the near future?
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- Do you think an entrepreneurial venture could run without defining the specific customer of the product? Why or why not?Is there a difference between a chain and a franchise?McDonald s is a franchise-based organization with which you are likely familiar. What similar technologies (product and process) exist in McDonald s everywhere? Are there any differences in McDonald s in different locations? Why do those differences exist?
- At the Growth phase of your burger business (started with $10,000) , what internal and external growth strategies can you take for this business? Explain with proper justification.If this means you’ll enter a new industry, how will you do that?There are three ways that are described in the book: new venturing, acquisitions,and joint ventures. What approach applies to your strategic plan based on theindustry you operate in?How has the development of a certain company function or operation relied heavily on the advent of internet technology, and how exactly did this come to pass? If you could provide an example and assess the product's potential in terms of the value it may bring to the market, that would be great.
- How does strategic development differ for startups versus established companies?1. What are four characteristics of high-growth companies? 2. How can both market and management factors affect the growth of a new venture? 3. What questions should you ask at each level of the new venture's growth?Why is business alignment such a critical factor for business success? What is the main concern regarding business alignment? What benefits does business alignment offer to companies? What is the difference between the internal and external components of business alignment? In what ways would functional integration aid business efficiency? To what extent would the IT and IS dimensions of a business reflect the underlying strategic developments and priorities of that business?