Management, Loose-Leaf Version
Management, Loose-Leaf Version
13th Edition
ISBN: 9781305969308
Author: Richard L. Daft
Publisher: South-Western College Pub
Question
Chapter 6, Problem 2ED
Summary Introduction

Case summary:

Chuck is a newly recruited CEO of a startup. He makes a presentation to the investor and they commit verbally to provide $16 million funding, impressed by the numbers in the presentation. However Chuck is informed by his Betty that the numbers are exaggerated. From his further research on this, he understood that she was correct and there was remote possibility of achieving the numbers projected. But the renewal income figure which impressed the clients most was totally incorrect. Chuck is in a dilemma how to proceed further.

Characters in the case:

Chuck Campbell, Betty Mars, investors, a member of the management team are the characters mentioned in this case.

Adequate information:

Chuck is a newly recruited CEO of the startup. The investors had verbally committed to $16 million funding impressed by the renewal income.

To determine:

If Chuck should go ahead with the deal and then inform later that it was the absence of the controller and because Chuck was still new to this job and did not have the required time to analyze the numbers which caused the problem.

Blurred answer
Students have asked these similar questions
As a new business owner, building a business from the ground up, an international travel agency at that, how would you go about taking the necessary actions to start? You already have a business plan in place; you just need to start. Enlighten your financial provider and convince them of how you would do this
The fact that Sunny Delight, a very small company, has acquired so many different types of analytics tools probably comes as a surprise to you. What effects may the several ownership transitions at Sunny Delight have had on the company's use of business intelligence (BI) tools?- What are the costs and benefits of switching to an enterprise-level analytics system, especially for end users who have become used to dealing with their own customized solutions for producing data?
Which of the following is NOT true about an Entrepreneur? a. Wants to work under others b .Looks for high achievements c .Has skill for creativity and innovation d .Takes Initiative   Which of the following is correct statement a .Entrepreneurs need high level of motivation b .Competitors can be the biggest source of new ideas c .It’s easy to become entrepreneur d .All ideas are good business opportunities
Knowledge Booster
Similar questions
  • Bonnie Brewer and Stacy Kim were college roommates. While at school, they shared dreams of opening their own business. To prepare themselves, they took business and marketing courses, along with courses in management. When they graduated, they each found jobs in Seattle, near where they’d gone to school. Several years later, after working at other companies to gain experience, the two women decided to take the plunge together and made a plan to open a small café where they and their customers could indulge their love of good coffee and fine chocolate. They looked at two locations for their café: one near Pike Place Market, which gets a lot of foot traffic from shoppers and businesspeople, and one near the university, where shops and restaurants are patronized by students, faculty, staff, and local residents. They chose the university location because they thought they knew and understood those customers well. The doors to Custom Coffee & Chocolate opened several months later, with…
    Write a reflection paper on "What motivates people to become an entrepreneur?" in 1 paragraph only with 500-700 words. Below is the guide.What motivates people to become an entrepreneur?Greater Control As a self-employed business owner you'll have the freedom to make executive decisions that will affect the future of not only your company but also your family and career in the long-term. As an employee  you can only exercise control within the boundaries of your job description. Flexible Work Hours One of the most appealing types of control that an entrepreneur has is the ability to choose when they want to work. With that said, working inconsistent hours and failing to commit to a set work schedule is a sure way to hinder the success of your business. Be realistic and don't give yourself too many vacations or progress will certainly suffer. Keep in mind that balancing work and life is an essential aspect of succeeding as a business owner. Open-Ended Career Progression As an employee…
    Hi, could you help me answer a question, it would help me with my understanding of the subject. The question is the following “Motivation and decision-making approaches of entrepreneurs play a critical role in their entrepreneurial journey. Discuss how motivation and decision-making approaches may change on the basis of the context, time, and personal characteristics of entrepreneurs.”. Would you be able to answer this question in about 1000 words, please? Thanks in advance
  • As an entrepreneur, you need to be able to effortlessly discuss your product and its problem-solution narrative, its value proposition, its market niche, and the competition, but in your pitches, you also need to be able to tell your story. The importance of story, particularly your story, in capturing the attention of your audience and motivating them to action cannot be overstated.  Instructions Read Telling Your Entrepreneurial Story and Pitching Your IdeaLinks to an external site. (Ch. 7)  from the Openstax Entrepreneurship online text. Answer the following questions in the Canvas quiz: How can telling your entrepreneurial story help build a brand? What is the risk of falling in love with your own entrepreneurial story? Imagine you are entering your campus pitch competition. What would be your strategy to win? If your campus does not have a competition, what national pitch competition might you enter? What would be your strategy to win? What strategies define winners of previous…
    Assume you own stock in a large, publicly tradedcorporation that is hiring a new chief executive officer(CEO). All other things being equal, who would be abetter choice: a brilliant strategic thinker who is aweak communicator with poor “people skills” or agifted public speaker and motivator who is competentbut perhaps not brilliant when it comes to strategy?Explain your answer
    As a group of aspiring entrepreneurs, you must create a business plan for a service-oriented business in the tourism industry in any Caribbean country (not an existing business/company). ALL members of the group are expected to work together and contribute to the business plan. Each team member must complete a peer evaluation of the other team members using the provided rubric.
    • SEE MORE QUESTIONS
    Recommended textbooks for you
  • Management, Loose-Leaf Version
    Management
    ISBN:9781305969308
    Author:Richard L. Daft
    Publisher:South-Western College Pub
  • Management, Loose-Leaf Version
    Management
    ISBN:9781305969308
    Author:Richard L. Daft
    Publisher:South-Western College Pub