Understanding Business with Connect Access Card
12th Edition
ISBN: 9781260277142
Author: William Nickels, James McHugh, Susan McHugh
Publisher: McGraw-Hill Education
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Question
Chapter D, Problem 1CT
Summary Introduction
To think critically about: The thought to become an entrepreneur and if the statistics in chapter gives the courage to pursue a venture.
Introduction: Entrepreneur is an individual who tends to begin a new venture, handle the risk involved and enjoy the profits individually. Entrepreneur helps to generate better employment opportunities in the economy.
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1. Does someone need to start a business from scratch to be called an entrepreneur?
2. Can we call someone an entrepreneur if they bought an ongoing business from someone else or took over the operations of a family business from their parents?
3. If someone starts a small business and never needs to hire employees, can they be called an entrepreneur?
Chapter D Solutions
Understanding Business with Connect Access Card
Ch. D.1 - Prob. D.1AQCh. D.2 - Prob. D.2AQCh. D.2 - Prob. D.2BQCh. D.2 - Prob. 1TPCh. D.2 - Prob. 2TPCh. D.2 - Prob. 3TPCh. D.4 - Prob. D.4AQCh. D.4 - Prob. D.4BQCh. D.4 - Prob. D.4CQCh. D.4 - Prob. 4TP
Ch. D.4 - Prob. 5TPCh. D.4 - Prob. 6TPCh. D.4 - Prob. 7TPCh. D - Prob. 1CECh. D - Prob. 2CECh. D - Prob. 3CECh. D - Prob. 4CECh. D - Prob. 1CTCh. D - Prob. 2CTCh. D - Prob. 3CTCh. D - Prob. 4CTCh. D - Prob. 1DCSCh. D - Prob. 2DCSCh. D - Prob. 4DCSCh. D - Prob. 1PPTCh. D - Prob. 2PPTCh. D - Prob. 3PPTCh. D - Prob. 5PPT
Knowledge Booster
Similar questions
- 3. If someone starts a small business and never needs to hire employees, can they becalled an entrepreneur?Disscussarrow_forward1. Could writing a conventional business plan ever cause more harm than good? Explain your answer?2. If you wanted some assistance in setting up and running a new business, you might look at business incubators as a solution. What kind of assistance would you consider the most valuable?3. Given the risks involved in starting any company, should an aspiring entrepreneur investigate all possible failure scenarios and develop action plans to avoid these potential outcomes? Explain your answer.4. How do autocratic, democratic, and laissez-faire leadership styles differ?5. Ethical considerations. Apart from meeting the company’s future talent needs, do managers have a personal ethical obligation to help their employees develop and advance in their careers? Explain your answer.6. What are the advantages and disadvantages of the unstructured organizational model?7. Suppose you are the marketing manager of the credit-card department of a financial institution. Your objective is to support the…arrow_forward3. Why doesn’t being smart easily translate into being rich? 4. How do entrepreneurial dimensions of individuals, environments, and organizations interact to produce new ventures?arrow_forward
- 5. What are some of the issues you might include in a defense of strategic philanthropy to company stockholders?arrow_forward1. Can someone be an entrepreneur without owning their own business? 2. Can a person be an entrepreneur because of the nature of the work that they do within a large corporation?arrow_forwardAnswer the following questions: 1. What are the traits needed by businessmen in order to save more money? 2.How can a business help you achieve savings? 3. How can a business help you achieve savings? 4. Why is it important for business to think beyond profit? 5. Why establishing a business can help the community? 6. How can we generate job opportunities through creating a business?arrow_forward
- 2. what is the difference between start up finance and start up revenue? explainarrow_forwardYou 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_forwardWhy is it necessary for a business plan to be realistic? How will investors typically react if they think a business plan is based on estimates and predictions rather than on careful thinking and facts? Where can entrepreneur obtain facts to substantiate their business plans?arrow_forward
- 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?arrow_forwardExperts say that entrepreneurs who need between $100,000 and $3 million often face the greatest obstacles when raising capital for their businesses. Why? (200 word)arrow_forward
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