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EBK STRATEGIC MANAGEMENT: CONCEPTS
3rd Edition
ISBN: 8220102807938
Author: Rothaermel
Publisher: YUZU
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Question
Chapter 7, Problem 1MS
Summary Introduction
Case summary:
It is given that higher education would limit the ability of an individual to innovate and start a new business. The case stated that there is a complex link between entrepreneurship and education. A capable individual will become an entrepreneur without the help of a college degree. The business innovation was chosen by many entrepreneurs rather than degree.
The two views of being the entrepreneurs are more than 75 percent of graduates are becoming entrepreneurs and it is stated that higher education is an enemy to entrepreneurship due to the impact of education loan.
To determine: Whether the current business climate is favorable to begin a business.
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- Compare and contrast the advantages and disadvantages of starting a business from the ground up. Be sure to include the different types of businessesarrow_forwardCould writing a conventional business plan every cause more harm than good? Explain your answer?arrow_forwardWHO WILL BENEFIT FROM A WELL-WRITTEN BUSINESS PLAN?arrow_forward
- The goal of all businesses is to make money, but those that have a purpose beyond profit tend to do better. Write your reflection about this statement.arrow_forwardCould writing a conventional business plan ever causemore harm than good? Explain your answer?arrow_forwardIf 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?arrow_forward
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- 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…arrow_forward1. 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?arrow_forwardHow can entrepreneurs effectively scale their business and take it to the next level, and what are some key strategies for doing so?arrow_forward
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