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Entrepreneurship And Small Business Management 2nd Edition Steve Mariotti , Caroline Glackin - Solutions
Is being able to make a profit important for the success of a business?If yes, how does profit indicate the worth of a business?
1.3. How will the business provide the products or services it offers? What are the primary actions and activities required to conduct this business?
1.2. What will the business offer? What products or services will it sell?
As young, serial entrepreneurs, how might the founders plan for their respective futures? What have they done since selling iContact?1.1. Who will the business serve?
What opportunities did selling the company open up for Ryan and Aaron?
Why did a sale to Vocus make strategic sense, if at all?
What options did iContact’s founders have for harvesting their investment?
Visit the Anago Cleaning Systems Web site at http://www.anagousa.com and find information about obtaining a master franchise.a. What are the competitive advantages that Anago identifies?b. What proprietary systems and services are noted?c. How are master franchisees incorporated into the site?
What are the demographic requirements for selecting a master franchise region?
What benefits do Anago’s master franchises get from the company that they would not have independently?
What benefits did Anago Cleaning Systems gain from franchising?
Find a company online that is similar to the type of business you would like to launch. Assume you would want to sell it. Describe how much you would expect from a buyer and explain your valuation method.
The American Association of Franchisees and Dealers (AAFD) is a national trade association that represents the rights and interests of franchisees and independent dealers across the country. Visit this association online at http://www.aafd.org to learn more about franchises and the resources
Select five companies that are profiled in this text from the Step into the Shoes and Global Impact features in other chapters.Indicate whether each has been harvested (you may need to do an Internet search). If so, what strategy did the owner(s) employ?If not, what would you recommend?
Look around your local community and select a popular business that is an independent company—not a franchise or part of a major corporation. Identify the possible harvesting strategies that the owners(s) could employ. What would you recommend and why?
Choose one of the harvesting strategies described in the chapter and research it in depth. Write a report per instructor guidelines.
Identify two companies that merged during the past three years.Describe the structure of the merger and what has happened to the resulting organization since then.
Give an example of a business that could lead to licensing agreements and a business that could be franchised.
What is the role of ethics at AYZH?How might the company’s integrity be challenged?
How do her education and experience relate to her role as founder and CEO of AYZH?
What motivates Zubaida in her company?
What type of leader do you think Zubaida is, according to Goleman’s typology?
What should Agritechno tell its investors and growers, if anything, about the crop failures and proposed solutions?
Why are Drs. Andropov and Brown frustrated and angry about the suggestions from Holbrook, Girard, and Castillo?
Using an online search engine, find a company that practices corporate social responsibility and answer the following:a. Which values are important?b. How are these values translated into action?c. Are the values shared broadly within the company, or are they primarily those of the president/CEO?
Choose a corporation that has been involved in an ethical scandal and research it online. (Enter corporate and scandal into a search engine.) Present its story to the class. Describe the lessons you learned from researching this company.
Identify a business leader, preferably an entrepreneur. Describe his or her leadership style based on at least two public sources(excluding any wikis, such as Wikipedia) and give examples to support your conclusion.
What is insider trading? Why is it unethical? If you owned a company and knew that it was about to report increased earnings and thus drive its stock price up, why would it be unethical to tell this to family members?
What is the relationship between social responsibility and ethics?
What is your entrepreneurial leadership style and which style is suitable for your business? Give reasons for your answer.
Consider ways that you might find 10 additional hours in your weekly schedule to manage your business. Create a weekly time-management schedule for yourself reflecting this activity.
Describe three leaders you admire. What characteristics do you most respect about them and why?
What is Jackson’s leadership style?
List some examples of why the ladies might see the reprimands as unfair or unjust.
Write a paragraph describing Mr. Jackson’s philosophy of human-resources management.
Imagine a scenario where you are Mr. Parks. What do you think you would have done after the conversation with Mr. Jackson? Write a paragraph describing your action plan.
Nick and Dennis sought legal counsel when their chairman simply stopped working, and they had to slow down their growth plans. Comment on how you think this affected them and the company.
What are the implications of signing an employment contract personally, rather than as a representative of a corporation?
Name at least three steps that Nick and Dennis could have taken to avoid the dreadful experience they had with their first executive hire.
Enablemart’s founders created a board of advisors early in the life of the company.How might they have taken advantage of the advisors’ counsel when hiring their chairman?
Discuss with a group: Should an employer be able to fire an employee if the latter is often ill? Before the discussion, prepare by searching the Internet to determine the legal issues that may be involved.
Visit a local bricks-and-mortar business (not a Web site) where you buy products or services. Go through your shopping experience as you normally would. Once you have left the place of business, describe its culture. Use the information in Exhibit 19-4 to assist you.
What would push you to fire an employee? List five reasons you believe would justify termination. Describe how you would handle the firing.
What are the functions of management? Describe each briefly.
What is nonverbal communication? How can it impact overall communications? How can the loss of nonverbal cues affect e-mail, instant messaging, and other written communications?
Why is establishing job profiles and position descriptions before recruiting important?
Is human resources management important for your organization?What training and development methods would you employ to make your people a source of sustained competitive advantage?
What kind of organizational structure would you prefer in your envisioned business? Why?
Would you prefer campus recruitment or executive searches for your business? Why? Explain with examples.
Will you be hiring employees during your first year of operations?If so, name their positions and describe the required qualifications, anticipated compensation, and their role in helping your business.
If you were a consultant, what advice would you have given Mike and why?Identify at least three short recommendations.Explain why you made each.
If you could turn back the clock and work with Mike from the start, what would you suggest he use as his one-minute sales pitch?
For each business error, identify why it was a mistake. For example, poor customer relations, lack of planning, or poor cash-flow management could be some identifiable errors.
List 10 mistakes that Mike made with respect to customer relations and the management of his business.
What is the role of partnerships in expanding the reach of Khan Academy?
How does the organization make its educational tools available to as many people as possible?
What role does physical location play in Khan Academy’s business?
What is the overall goal of Khan Academy?
Visit the U.S. Census Bureau Web site at http://www.census.gov.Pull up the census tract data both for your home address and for your campus address. If the tracts are the same, pick another college or university. Compare and contrast the two locations as potential sites for each of the following.
Visit the Web site of a business that you know has at least three locations in your area (preferably not a franchise or chain).a. Obtain the addresses of the locations nearest to your home(up to 10).b. Map these locations on an ordinary street map.c. Plot them on a census map.d. What geographic
How would you evaluate alternatives in the approach of selecting the best location for a business? Envision a business of your choice and conduct a real time exercise by using data and report analysis.
What channels of distribution would you expect the company to use?
What is (are) the sales cycle(s) for Sew What?
What have been some critical steps in the growth of the company?
Why does Megan credit computer technology and the Web for a significant portion of her company’s growth?
How does technology sustain Megan Duckett’s business?
What types of regulations are particularly important to Gat Creek and its employees, given the nature of the business?
How might Gat Creek assure quality? Why?
What is the source of production inputs for Gat Creek?
How has Gat Creek brought modern technology to the traditional processes of building furniture?
What might the supply chain look like for one of the following:a. manufacturer of custom tire rims for automobilesb. car dealershipc. building materials wholesaler
Use your local telephone company’s business-to-business directory or The American Wholesalers and Distributors Directory to locate wholesalers you could visit, or from whom you could order products for resale.
Examine a label on either the shoes or a piece of clothing you are wearing today. Which items were made in foreign countries? How many dollars per hour do you think the people earned who made these articles of clothing? Why do you think the company that manufactured these items had them made abroad?
Give an example of a business that is known internationally for the quality of its products; what defines quality for this company?
Production-distribution chaina. How do you plan to distribute your product to your target market?b. What is the estimated delivery time between when you place an order with your supplier and when the product will be available for your customers?
Why would hotels, motels, and bed and breakfasts be unhappy with Airbnb?
How does Airbnb distribute the liability between itself, hosts, and guests? Provide examples.
How is insurance involved in the Airbnb business model? How would you recommend this be changed, if at all? Why?
What types of contracts does Airbnb need? With whom?
With whom would you expect Cordia to have contracts? Why?
What kinds of regulations would you expect her baking, transportation, and storage companies to encounter?
What legal issues has Cordia needed to address?
Interview an entrepreneur about insurance policies. Ask how he decided what kind of insurance to carry and whether to have high or low deductibles. Present a report on your entrepreneur’s insurance plan to the class.
What nonprofit business could you start in your community?Answer the following questions to describe it:a. What is the name of your nonprofit?b. What societal problem(s) are you trying to solve?c. Describe the mission of your organization.d. Describe the programs and services you plan to create.e.
For the business you plan to start, research licensing regulations in your area and describe how they will affect your operation.a. Have you applied for a sales tax ID number?b. What are the zoning laws in your location? Would your business comply?
Some businesses sell products and services that can injure customers.List three examples and explain how these companies probably use insurance.
Suki is buying an old van from her brother to start her flowerbasket delivery service. She planned to buy auto insurance that would pay all her expenses in case she ever got into an accident.She finds that such insurance would cost $3,000 per year, which, according to her business-plan projections,
What does your signature at the bottom of a contract mean in a court of law? Which two things should you do before signing a contract?
Find a lawyer who might be willing to help you with your business.Ask your parents/guardians who are in business or store owners in your community for referrals. The Small Business Administration or Community Legal Aid Society sometimes offers free or low-cost legal services to entrepreneurs.
What is the most important contract you will need to operate your business? Describe any additional contracts you have or plan to secure.
Give an example of a business in your community that you think may be infringing on someone else’s intellectual property.
How do you plan to protect your intellectual property? Explain why it would qualify for protection.
If your business will be incorporated, what percentage of the company would be represented by one share of stock? Will your corporation’s stock be publicly or privately held?
Which legal structure will you choose for your business?a. Why did you choose this structure?b. Who will the partners or stockholders of your company be?c. Describe the steps you will take to register your business.
With a partner, make a list of the technological tools each of you could personally access. Brainstorm how you might combine your resources to create a successful business. Describe in detail how the partnership would work. For example, would the partner contributing more technology have a larger
What can happen to an entrepreneur who is personally liable for a business? How can an entrepreneur protect herself from personal liability? Say your friend wants to start a business making custom skateboards. Write a memo to your friend, explaining the risks involved and suggestions for limiting
When, if ever, would you advise Josh and Bruno to approach mainstream lenders?
What factors made The Gelato Fiasco a business that did not qualify for mainstream bank financing (specifically discuss the Cs of credit)?
Did the Maine Seed Capital Tax Credit Program provide 100 percent of the financing? If not, how much did it provide?How do you know?
Why did Josh and Bruno turn to Coastal Enterprises as a source of capital for their business?
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