EBK M: MANAGEMENT
5th Edition
ISBN: 9781259900310
Author: BATEMAN
Publisher: YUZU
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Chapter 6, Problem 5LO
Summary Introduction
To discuss: The Manner in which increase chances of business success considering with good planning process
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Explain why some business plans fail.
Describe how you will prepare your business plan for a new business venture such as a stationary store. Be sure
to include the components of a good business plan.
What is the optimal business model for rapid growth?
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- What factors reduce the effectiveness of companies’ business plans? Briefly explain/describe each factor.arrow_forwardShould you write a business plan even if you do not need outside financing? Why or why not?arrow_forwardCould writing a conventional business plan ever causemore harm than good? Explain your answer?arrow_forward
- What are your options when you begin your business? How do you investigate your options?arrow_forwardWhat functions does a business plan perform?arrow_forwardYou plan to open a new business. Before you can approach a potential investor, you will need a strong plan. Describe the purpose and components of a business model and write a one-paragraph business model description for a business of your choice.arrow_forward
- If you will be starting a business based on your own idea, answer this question: In selecting your business idea, were you able to find something you love to do and are good at doing? How did you determine that your idea would fill a need in the marketplace?arrow_forwardAccording 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.arrow_forwardWhich factor(people, profile of business, business context, and risks & rewards) do you believe is most important to include in a great business plan? Why do you believe this factor is of such importance and what makes it more important than the other factors, in your opinion?arrow_forward
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