Questions and Answers of Entrepreneurial Small Business

Mingkit had a bad day. It started at work where he was trying to sell software upgrades to his company’s customers. “I really like your software systems, but it just takes so long to add it or to
Imitative, Incremental or Radically Innovative? Identify which strategy each business is following.Nancy opens a beauty salonNancy offers aromatherapy and massages at her beauty
List 15 new uses for a popular product or service. Try paper clips, or coffee mugs, or home delivery. Use SCAMPER to generate new uses, and make connections to other uses.
What is a business model canvas and how do you use it to assess the potential of a business?
How can entrepreneurs quickly scan a large number of new ideas?
A new purchasing manager faces an ethical dilemma: In the past employees have accepted expensive gifts from a supplier. 1. What is the important decision you are faced with and why is it an
Mackenzie’s goal was to make horseback riding affordable to all children. When she looks at what less privileged families can afford to pay, she realizes that at those prices she cannot be
Legality and ethics are not the same thing. Sometimes the “right” decision from an ethical point of view may mean breaking a law or not exercising your right under the law. For example, a green
Matt’s etching business is still pretty small. He generates only a small amount of waste solvents and other hazardous materials. The quantities he has to dispose of are well below the amounts that
Ethical dilemmas occur when there are two or more ethical principles that you hold that conflict in a certain situation. Below is a list of some commonly held ethical principles and some situation
Below is list of ethical principles that a business might follow. Think of a situation where following each might not necessarily be the right thing.a. Follow contracts to the letter.b. Never deviate
Using the ethical principles above or others that you can think of, identify three other situations where there could be an ethical dilemma.
It was Nicholas’s worst nightmare. The health inspector found a several violations at his upscale restaurant and closed it down until they were resolved. Nicholas rushed to the restaurant as soon
Bella was interested in starting a sustainable bicycle shop but wasn’t sure where to begin. Can you give her some ideas?
Mutuality occurs when two (or small) businesses help each other out. This can be by doing business with each other or by referring customers who might use both services. Below are several pairs of
Alex wants to open a bike shop. He would like to achieve a reputation as a worthy place to do business (i.e., achieve legitimacy). Make suggestions of two things he could do in each area of
Said is an architect. He is an avid reader and subscribes to Architecture Digest and several other magazines in the field. He attends the national and local architect conferences and daily checks
Bobby runs a lawn care service. This morning as he reads the morning newspaper, he sees a number of articles that he finds useful for planning his business. Look at the list of headlines below and
“You know,” Hannah started, “As a single woman there were times when I needed a man to lift something or an extra pair of hands to help me with some task in my house and many of my single women
Here are a set of challenging situations small business owners might find themselves facing. How would you handle them? Compare your solutions to those of others in the class. What differences occur
Why should a small business make stronger efforts to achieve sustainability?
After years of entertaining clients on the golf course, Will’s company downsized him and he decided to turn his forced unemployment into the chance to own his own golf course. A course he had
Terry complains, “I seem to have two strikes against me: I’m black and I’m a woman. I am competent construction engineer but it seems like my company just doesn’t get a chance. Projects come
Wilma’s Wonderful Winterwear makes stylish coats and jackets for the businesswoman. Wilma started this business 30 years ago when her children (three boys and a girl) were just babies and has grown
Darrel had a terrific idea, but little money. David had the money, but no ideas. They decided to partner up and start a small business. Darrel was really excited about his idea and spent long hours
Each of the following entrepreneurs is at a different stage of their business life cycle. Can you identify which stage?a. Missy is finally in production of her new make-up line, but markets are
Tam wanted to open a Vietnamese take-out restaurant. He has a degree in Business Administration from a reputable west coast university and worked most of his life in his parent’s Vietnamese
Hobart, Harry, Henry, Herman and Howard all have been in business for a number of years. One Saturday, while their children play soccer, they discuss what traits they have that they think makes them
What make the situation of the second career entrepreneur problematic? What can they do to smooth their way?
What are the stages of the small business life cycle? What stage do high-growth ventures go through that other forms of small business do not?
What would be the likely impact on a start-up if the entrepreneur had a strong promotion focus and a weak prevention focus?
What are the different aspects of entrepreneurial personality?
Back at Ray’s Coffee Shop the conversations continued:“After I got my degree and got a little experience,” Collin started, “I decided to start out on my own. My aunt gave each of here
Let’s visit Raymond’s Coffee Shop and eavesdrop on some conversations. Can you tell which focus of entrepreneurship each patron is talking about? “Well, I set my own personal best,” said
Select two or three small businesses in your area and make a list of probable benefits they bring to your community.
Brian decided that he was fighting a losing battle. “So tell me what you’ve done so far.” Andy responded, “I’ve got a pretty good set of supplies and tools already as the wife and kids give
Brian continued, “Where the heck do you think you are going to get the money? It’ll cost a bundle and there’s just no money out there to borrow for anything that risky. And besides, you
Andy and Brian continued their discussion about Andy’s possible clock repair business. “You know, it’s not like it’s a business your Dad started and you feel like you HAVE to continue,”
Complete the following table: Growth rates % of small businesses Sales High-growth Ventures High-Perfoming Small Businesses Traditional Small Businesses Lifestyle/Part-time Businesses
Small Business or High Growth Venture? Read the brief descriptions below and decide from which of the two types of start-up businesses these quotes are likely to come.a.“Well, once I saved
Andy and Brian were talking over coffee one morning. “Brian,” Andy said, “You know I’ve been repairing clocks as a hobby for some time. Since the nearest clock shop is in Smithton and
How does the story of Sir Paul McCartney reflect the key ethical idea of this chapter, “Do well. Do good.”
Many people think of the United States as one of the most entrepreneurial countries. Are there other countries with higher levels of entrepreneurship? Name two and explain why their levels of
What are the differences between small businesses and high-growth ventures?
Why do you think that 56% of the 15-17 years olds say they would like to start a small business, but only about 19% who expresses an interest actually do anything
Describe the population of small businesses in America. How many firms are there and how many new firms are started each year?

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