What is the rule of three? Suppose you worked for a small firmin a large industry, such as a small manufacturer of furniture.How might you actually use the rule of three to enhance yourfirm’s position in the marketplace?
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What is the rule of three? Suppose you worked for a small firm
in a large industry, such as a small manufacturer of furniture.
How might you actually use the rule of three to enhance your
firm’s position in the marketplace?
Step by step
Solved in 2 steps
- The different types of business ownership are: A. Sole proprietorship b. Partnership C. Corporation D. All of the choices are correctCertainty of a business environment determines a firm’s success. Examinehow the various types of institutions that reduce a firm’s uncertaintyCan you name the six most common types of businesses? Is there evidence to back up your hypothesis? Does your job need a different option? Tell me more about your idea; I'm assuming it involves some kind of virtual flea market for used goods.
- 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…3. Which of the following is NOT one of the possible ways to go into business? a) Purchasing an existing business b) Joining an existing business c) Buying out a conglomerate d) Starting a new businessWhat would be the impact of continuous conflict and differences in opinions among owners in a business? a. Business might not continue b. Business might have more branches c. Business might merge with another company d. Business might become diversified
- Analyze the Automobile manufacturing industry using Porter’s six forces. Write each of the six forces as a title. Rate each force as high, medium, or low and explain the reason why you think so. In addition, indicate whether or not the Automobile industry presents opportunities for new companies. Use the ratings that you allocated to the six forces to support your reasoning.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…Imagine running a large city travel business. Despite many commercial customers, growth has stagnated. You think technology can help you. Does your company have a strength, weakness, vulnerability, opportunity, and threat?
- What are firm resources and capabilities, and what information does VRIO provide about them?Why is it important to know the market size of the the business? Please explain thoroughly.Discuss about any existing company showing the main issues and give recommendations to someone who want to start his own business.
