you are the proud owner of a new "Small Business Venture" of your choice - located somewhere in the New York / New Jersey Tri-State area, Online, or from a city of your choice (i.e. Clothing Store, Shoe store, Tailoring Shop, Purses & Handbags, Women's' wear, Men's' wear, computer shop. etc...etc...). Why do you think a business plan it is important for students, managers, small business owners to learn and understand the all components of a Business Plan?

you are the proud owner of a new "Small Business Venture" of your choice - located somewhere in the New York / New Jersey Tri-State area, Online, or from a city of your choice (i.e. Clothing Store, Shoe store, Tailoring Shop, Purses & Handbags, Women's' wear, Men's' wear, computer shop. etc...etc...). Why do you think a business plan it is important for students, managers, small business owners to learn and understand the all components of a Business Plan?

Foundations of Business (MindTap Course List)

6th Edition

ISBN:9781337386920

Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Chapter4: Choosing A Form Of Business Ownership

Section: Chapter Questions

Problem 6DQ

See similar textbooks

Similar questions

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.
1. If someone buys a business but hires professional managers to run it so they don’t have to be involved in the operations, are they an entrepreneur? 2. Is someone an entrepreneur if they buy into a franchise so they can follow a well-established formula for running the operation? 3. Is someone an entrepreneur because of what they do or because of how they think?
In your initial response, please respond to the following questions: 1. Why do some businesses succeed while others fail? List and explain three main reasons why businesses fail. 2. Starting a new business from scratch can seem like a daunting proposition. Accordingly, some entrepreneurs may choose to buy a business that is already established, or purchase a franchise from a business that already has name recognition.
The process of starting a new business can be difficult, especially when you are trying to break through the fear and confusion. We live in a world where we have an endless amount of opportunities, and it can be quite overwhelming to start looking at all the different options that are available to you. You may also feel like all business ideas have been done before and that you’ll never be able to come up with something that is unique and that would be successful. From the above scenario, we realized the challenge and opportunity in creating a new business venture in UNITEN. Using your own words, justify the following QUESTIONS: 1. Justify TWO (2) challenges to be considered when coming up with a new business idea in UNITEN. 2. Provide your own VISION and MISSION to start a new venture. 3. Describe ONE (1) passion in starting the new entrepreneurship
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?
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.
Almost anyone can develop the qualities necessary to succeed asan entrepreneur. To illustrate, consider this question.Who among the following is the most successful entrepreneur?Choose two persons rom the given scenarios then explain and justify. Give examples and situations to support your answers. 1. A 35 year-old farmer who has owned a two hectare pineappleplantation for 10 years, makes just enough to get by, but loveswhat he is doing, and calls everyone in the barangay a friend.2. A 30 year-old CEO of a software firm who works 70 hours aweek, stays stressed, never sees his family, but makes five millionpesos in revenue per year.3. A 35 year-old single mom who makes money online withinternets, and gets to spend all the time she wants with her kids.4. A 22 year-old college dropout who created a few websites thathe manages a few hours per week and now makes enough totravel the world, spends time with friends and family, and pursueshis favorite hobbies.
Being an entrepreneur means you are acquiring certain skills and abilities. Briefly describe the meaning of entrepreneur and any 4 different skills an entrepreneur must has to be successful?
Entrepreneur don’t just start a business haphazardly, but before starting he/she identifies significant opportunities in the market. Describe in your own words your understanding about the above statement.
You love building and fine-tuning businesssystems in order to figure out the best ways to createand deliver products, solve customer problems, and soon. After 10 years in a corporate job, you’re ready toapply this passion to your own company. You’reintrigued by the systematic approaches the world’s mostsuccessful franchising operations use to multiply theirmarket reach. Would buying a franchise be a goodchoice for you? Why or why not?
Why do you think printing services is a good business idea?
After working in software development with a major food company for 12 years, you are becomingimpatient with corporate “red tape” (regulations and routines). You have an idea for a new snack productfor nutrition-conscious consumers and are thinking of starting your own company. What entrepreneurial characteristics do you need to succeed? What other factors should you consider before quitting your job?