Questions and Answers of Entrepreneurship Starting Operating

Visit the U.S. Small Business Administration Website(http://www.sba.gov). Read an article on starting a business and write a brief summary of the key information (200 words or fewer). Remember
Visit an Internet search engine, such as Google, Yahoo! or Bing. Search for one of the following sets of terms: entrepreneurship ideas, businesses for sale, or franchise opportunities. For the search
Find a site that looks promising and answer these questions:a. What is the website (UR Land name)? Example: Franchise Direct, http://www.franchisedirect.comb. Who is sponsoring the Web site? Example:
Where do you think each restaurant is in the product life cycle?
Have you created any marketing materials for your business? If so, have three friends and a mentor (someone more experienced whom you respect and who can give you good business advice) look at your
Visit three businesses in your community and take notes on your experiences as a shopper. Write a memo comparing the customer service at each. Include such information as the following: Were you
Interview an entrepreneur about the types of CRM he/she uses. Discuss customer service and complaint handling in particular. Summarize the interview in a short paper.
Visit the BNI site at http://www.bni.com and find the chapter closest to your home.a. What is the name of the chapter?b. When does it meet?c. Who is the executive director of the chapter?d. How many
Ask an entrepreneur in your neighborhood to discuss his or her accounting system. Write a one-page report about the pros and cons of the system and use it to make an oral report to the class.
Create common-sized balance sheets for each.
Calculate their balance sheet ratios.
How do the companies compare in growing owner’s equity?
How do the companies compare in reducing debt?
How, if at all, do the ratios of these companies relate to that of The Greasy Spoon Diner?
Calculate the projected burn rate for each of the following businesses:a. Application developer for iPhones with $550,000 cash on hand, no revenues, and cash outflows of $50,000 per month =
Visit Business Owners Idea Café online at http://www.businessownersideacafe.com/ and use the tool provided under Financing to figure out how much capital you will need to get your business off the
What would you ask the Holter family about the cash management of Holterholm Farms?
Which option(s) do you suggest Dylan implement?
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? Why?
Carry out a search online for the name you intend to use for your business. What did you find? Will you still use this name? Why or why not. How do you plan to protect the name of your business?
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? Most will not have done
Answer the following questions about the production-distribution chain:a. How do you plan to distribute your product to your target market?b. What is the estimated delivery time between when you
Where would you locate your business, and why?
Identify two businesses in your community with which you are familiar. Suggest four measures of quality for each. Rate each business on these quality dimensions. Then, answer the questions
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
Visit the company website at http://www.sewwhatinc.com. What new process, quality and/or production changes do they report?
What are the characteristics of an organizational culture that you would find unappealing?
Consider ways that you could find 10 additional hours in your weekly schedule to manage your business. Create a weekly time-management schedule for yourself reflecting this activity.
What qualities and qualifications would you look for in employees for your business? List five and explain why they are the most important to you.
Keep track of the direct opportunities to decide whether to act ethically/unethically and/or legally/illegally that arise during a 48-hour period. What, if anything, surprises you about the list?
Visit the Web site for a U.S. state, or use another reliable source, to identify the antidiscrimination laws in that state. What form(s) of discrimination do they prohibit? When were they enacted? To
Search the Internet for two position descriptions from different businesses. Make a chart identifying which of the following are included: job title; job summary; duties to be performed; nature of
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 what legal issues may be
How might the company’s integrity be challenged?
What should Agritechno tell its investors and growers, if anything, about the crop failures and solutions?
Select one of the harvesting strategies described in the chapter and research it in depth. Write a report per instructor guidelines.
Look around your local community and evaluate a popular business that is an independent company – not a franchise or part of a major corporation. Propose the possible harvesting strategies that the
Select five companies that are profiled in this text from the Step into the Shoes and Global Impact features. Research whether each has been harvested (you may need to do an Internet search). If so,
Find a franchise online like the one you might want to create. Answer the following:a. What is the franchise? What does it sell?b. Why are you interested in it?c. What is the franchise fee?d. What
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
Who is most likely to be interested in an Anago unit franchise? Why?
Visit an Internet shopping site such as the Home Shopping Network (http://www.HSN.com) or QVC (http://www.QVC.com). Select five products for sale thatyou find interesting or unusual. Make a list of
Call and visit an entrepreneur in your community to discuss business plans. a. Ask whether he or she wrote a business plan before starting the business. Since then?b. If the owner did
Are there customers for your business in other countries? How would you plan to reach them?
Write a mission statement for your planned or envisioned business.
Visit http://www.download.cnet.com/windows and find three shareware programs that would be of value to you as an entrepreneur. List them.
Did you observe any differences in how the employees handled your order? Describe them.
Describe what you believe to be the marketing vision of each restaurant based on what you observed. Write a positioning statement for each restaurant.
Analyze the market for each restaurant using the four methods of market analysis: geographic segmentation, demographic segmentation, psychographic segmentation, and behavioral segmentation.
1. What risks are present in Jeff Braverman’s “go big” strategy? What benefits would it produce? How likely is the company to realize those benefits?2. Considering the cost-benefit analysis you
1. Develop a list of at least five search engine optimization strategies to help Gitman Brothers move up in search engine results.2. Write a memo to the managers at Gitman Brothers that outlines the
1. Develop a monthly cash budget for Bluffton Pharmacy for the upcoming year.2. What recommendations can you offer Angela Crawford and Martin Crawford to improve their pharmacy’s cash flow?3. If
1. Which organization structure should Garlick use for ThinkImpact? Explain.2. If Garlick chooses to create a for-profit entity, either to replace the current nonprofit organization or as a
1. What steps should the Cohens take to find other locations for new U.A.L. stores? What criteria should they use to screen potential cities? 2. Which of the three basic business strategies is
What other principles described in this chapter might Hancock benefit from? Explain.
What advice can you offer the founders of Zee Wines USA about selling their products globally?
As the global market grows, more small businesses are expanding into other markets. What are the implications for small companies that have the potential to conduct business globally?
Use the resources of the Internet to identify cities that Bi should consider for Blank Label’s next retail store and explain why you choose them.
Would pop-up stores be successful in your community? Explain. Work with a team of your classmates to identify three products or product lines That would be successful in your community if they were
What types of businesses would be successful opening pop-up stores temporarily on your campus or on a nearby campus? What advice would you offer entrepreneurs who are considering opening the store?
Assume the role of a small business counselor. What advice would you offer him to insure the long-term survival of Kopp’s Cycle?
According to an old proverb, “The value of a thing is what it will bring.” Do you agree? Explain. Should companies be allowed to engage in dynamic pricing?
Use the Internet to find examples of businesses that use these or other psychology-based pricing techniques and write a brief description of the company and its pricing strategy.
Use the information in this chapter and resources of the Internet to develop a list of at least five suggestions that small business owners can act on to strengthen the computer security in their
What are the implications of a company providing poor customer service?
Describe a positive service experience you have had with a company and your impressions of that business.
One experienced entrepreneur says that when a company provides great service, its reputation benefits from a stronger emotional connection with its customers, as well as from increased confidence
Describe how a small business owner could use striving to be unique for a competitive advantage.
Choose a fast-food restaurant that you frequent and identify steps it would need to take to improve its customer service.
Identify at least three additional bootstrap marketing strategies discussed in this chapter that Victory Auto can use to increase it visibility, sales, and profits. Explain how the company should
Work with a team of your classmates to select a local business that has no social media presence and develop a plan to boost its visibility, sales, and profits with a social media strategy.
Suppose that one of your friends is considering purchasing a BurgerFi franchise and asks your opinion. What advice would you offer him or her?
Suppose that you and a friend have recently graduated from college when you discover the ideal business for sale by the founder, who is ready to retire. The asking price is $550,000, but you and your
Suppose that two of your friends are about to launch a business together with nothing but a handshake. “We’ve been best friends since grammar school,” they say. What advice would you give them?
Develop a list of the behaviors that are almost certain to destroy a partnership.
Research relationships between partners and add at least three guidelines to those listed above.
Write a short memo (two pages maximum) to The Escape Game partners and their management team, describing your strategic recommendations for helping The Escape Game gain and maintain a competitive
Identify The Escape Game’s major competitors. What are their strengths and weaknesses?
What opportunities and threats does The Escape Game face?
Visit The Escape Game’s Web site at https://nashvilleescapegame.com to learn more about the company. Work with a team of your classmates to identify the company’s strengths and weaknesses.
Based on your work in question 2, develop a one-page report summarizing your strategic suggestions.
Work with a team of your classmates to identify a local small business that competes with a bigger competitor. Which of the strategies described here has the small company employed to become a
Using the ideas you generated in question 2, create a two-page proposal for establishing a business plan competition at your school.
Work with a team of your classmates to brainstorm ideas for establishing a business plan competition on your campus. How would you locate judges? What criteria would you use to judge the plans? What
A failed business concept does not mean the entrepreneur has failed. How would you explain this to an entrepreneur facing a failed business concept?
Do you believe an edible insect business would be successful where you live? Why or why not?
What other opportunities for new businesses can you envision that may result from the introduction of the driverless car into the market?
Do you agree with the top managers in the MDC Partners survey who say that we have entered an “imagination economy”? Explain.
Explain how the company you selected in question 1 could use at least one of the remaining types of innovation to increase its sales and profitability.
List the core personal values you intend to bring to your business (e.g., treating people fairly, giving something back to the community, and so on).
Select a local nonprofit and work with a team of your classmates to brainstorm ideas for a franchise business that could help create a sustainable cash flow to support the mission of the social
If you intend to start a business, what steps can you take to increase the likelihood that it will succeed?
If you are interested in launching a business, when do you intend to start it?
Are you interested in some day launching a small business?
Work with a team of your classmates to interview at least one entrepreneur. Does he or she fit the model described here? Explain, giving specific examples from your interview.
The following role plays require you to think and act as if you were the person being described in each situation.a. Role play 1. One student prepares and presents a speech as if she or he is an
Do you believe that the laws should be changed to make it easier for entrepreneurs to go into, and recover from, bankruptcy? What are the implications of your answer for the entrepreneur, creditors,
If your family had a highly successful business, would succession to the next generation (you and/or your siblings) likely to be smooth, or would there be a potential for conflict and hurt feelings?
Why are there so many different techniques for determining the worth of a firm? In any given situation, is there one “right answer” for a company’s value? What effects do your answers to these
Being a franchisor seems to be a mechanism for growth, but what are the growth prospects for entrepreneurs that are franchisees? Isn’t the entrepreneur limited in his or her ability to pursue all

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