Entrepreneurship Starting And Operating A Small Business 3rd Edition Caroline Glackin - Solutions

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Jobs was a high-achieving individual but was more interested in design and engineering than in goal accomplishment. Musk is an extremely high achiever who sets lofty goals.
High achievers like to study a situation before committing themselves to a course of action.
High achievers are moderate risk takers in important situations.
High achievers take personal responsibility for their actions. They do not like to rely on luck. Option (c)assumes the class time saved by not having to study for exams will be used to study for other classes; otherwise the answer would be a zero.
Which one of these occupations has the greatest career appeal for you?a Computer salesperson b Corporate accountant c Criminal lawyer
Which one of these activities would you prefer to do on an evening off?a Visit a friend b Work on a hobby c Watch television
Which one of these people would you most like to be?a A detective solving a crime b A politician giving a victory statement c A millionaire sailing on their yacht
With which one of these groups would you most enjoy playing poker?a Friends b High-stakes players c Individuals who can challenge me
You have decided to become more physically active. Which one of these approaches has the greatest attraction for you?a Join a neighbourhood sports team b Work out on my own c Join a local health club
Which one of these games would you most like to play?a Monopoly b Bingo c Roulette
Which one of these people would you most like to be?a Steve Jobs, founder of Apple Computers b Elon Musk, of PayPal, SpaceX, Tesla, SolarCity, Hyperloop, and Neuralink fame c Richard Branson, Virgin Airlines
You have just been asked by your boss to take on a new project in addition to the many tasks you are already doing. What would you tell your boss?a ’Since I’m already snowed under, I can’t handle any more.’b ’Sure, I’m happy to help out; give it to me.’c ’Let me look over my current
How would you describe yourself as a risk taker?a High b Moderate c Low
An instructor in one of your classes has asked you to vote on three grading options. Which of these options would you choose?a Study the course material, take the exams and receive the grade I earn b Roll a die and get an A if I roll an odd number and a D if I roll an even number c Show up for all
subtract your answers to 2, 4, 5, 6, 7 and 10 from 11 and enter the results.
enter your answers to numbers 1, 3, 8 and 9 just as they appear
Most successful entrepreneurs do well in their first venture, which encourages them to continue; failures tend to come later on as the enterprise grows.Put your answers in the table below in this way:
Successful entrepreneurship is more a matter of preparation and desire than luck.
Research shows that although it is important to have adequate financing before beginning an entrepreneurial venture, it is often more important to have managerial competence and proper planning.
Because they are unique and individualistic in their approach to business, most successful entrepreneurs find it hard to socialise with others; they just do not fit in.
Most successful entrepreneurs admit that dropping out of school was the best thing they ever did.
Highly successful entrepreneurs tend to have very little formal schooling.
The most successful entrepreneurs are those who invent a unique product or service.
Many of the characteristics needed for successful entrepreneurship can be learned through study and experience.
The most successful entrepreneurs are born with special characteristics, such as a high achievement drive and a winning personality, and these traits serve them well in their entrepreneurial endeavours.
Successful entrepreneurs are often methodical and analytical individuals who carefully plan out what they are going to do and then do it.
Stay in touch with your potential customers who are willing to give advice, particularly on new products or services.
Always be on the lookout for fellow travellers who, like you, are pursuing venture-oriented professions, such as lawyers, accountants and market and technical consultants.
Subscribe to, or become a member of, formal or informal groups that link entrepreneurs in the country or region and diaspora networks – in particular, high-achieving expatriates.
Think about relocating yourself to a geographic location that has a concentration of people who think like you do. This might be close to universities, training institutions, suppliers, consulting companies and professional associations.
Pay attention to the public infrastructure you will need, such as transportation (roads, airports, railways, container shipping) and communication (digital, broadband, mobile).
Locate educational institutions (or even online tutorials) that teach financial literacy and entrepreneurship.
Find mentoring organisations and industry associations that help investors and entrepreneurs network and learn from one another.
Identify knowledgeable people who have experience in creating organisations; hiring; and building structures, systems and controls.
Within your own culture, find those success stories and role models who tolerate honest mistakes, take honourable failure in their stride, permit risk taking and cultivate contrarian thinking. Who is it within your own personal circle who respects entrepreneurship as a worthy occupation?
Is entrepreneurship really another word for ‘human freedom’?
What are the generational differences in entrepreneurial activity?
What is the difference between entrepreneurs and small-business managers?
What is the difference between social entrepreneurs and business entrepreneurs?
Why is a framework of frameworks useful in entrepreneurship theory?
Name four major schools of thought in entrepreneurship theory, describe them and explain how they differ.
When was the word ‘entrepreneur’ first used in economic literature?
In your culture, what is the history of enterprise and entrepreneurship?
How were entrepreneurs historically viewed? What challenges did they face throughout history?
Is there a distinction between ‘enterprising’ and ‘entrepreneurial’ in your language? If so, what is it?
Why do we use the French word ‘entrepreneur’ instead of an English equivalent?
Briefly describe what is meant by the term ‘entrepreneurship’.
What is transformative innovation and what role do entrepreneurs play in solving wicked problems?
Why is entrepreneurship considered important in today’s context? Explain how entrepreneurship addresses some of today’s major challenges.
Create a PERT chart for your organization to make your plans clear to potential investors.
How will investors get paid back/out? Public offering? Employee buyout? Merger or acquisition? Liquidation? Stock buyback?B. When will this happen?C. Do you plan to franchise your business, or license any of your products? Explain
Create an organizational chart for your business.B. Will you be hiring employees? If so, describe what their qualifications should be, what you intend to pay them, and how they will help your busiriess.C. Do you intend to pay yourself a salary, wage, dividend, or commission?Explain.D. What will
Where are you purchasing the products you plan to sell, or the parts you will use to manufacture those products? Illustrate your supply chain.B. Do you intend to manufacture your product? If so, describe the manufacturing processes you will use. If not, describe how your product is manufactured.C.
Describe the actual physical place in greater detail than above.B. What are the zoning laws in your area? Does your business comply?
Where do you intend to sell your product? Describe the advantages and disadvantages of your location(s).B. What are the surrounding businesses? Access routes?C. If vehicular traffic is important to your organization, what is the traffic count for this location?
Describe the actual physical place in greater detail than above.B. What are the zoning laws in your area? Does your business comply?D. Have you developed and/or adopted any innovations in production, inventory management, or distribution that are significant? What are they and why are they
What type of research are you doing? What kind do you intend to do?B. What are others in the industry doing?C. How will you protect your intellectual property?
What is the name of your organization?K. If there is more than one owner, describe how the ownership will be shared.E. What is your organization's legal structure (sole proprietorship, partnership, LLC, C corporation, etc.)?F. Why did you choose this legal structure?G. In which state are you
Clearly state how much money you are requesting in this plan and the terms under which you anticipate obtaining those funds.B. Do you intend to use debt to finance your business? Explain.C. Do you plan to issue bonds to finance your business at some point in the future?
List and describe your monthly fixed costs and add a cash reserve that covers three months of fixed costs.B. Create a projected cash flow statement for your business for the first four quarters and the second and third years of operation.C. Calculate the burn rate for your business.
List the risks and assumptions that underlie your financial projections.B. Identify any external factors that you feel should be disclosed as substantial risks.
Create a projected income statement for your business for the first four quarters and the second and third years of operation.B. Create a bar graph showing your gross revenues, gross profit, and net income.
Describe your record-keeping system.B. List the types of bank accounts you will open for your organization.
Describe your record-keeping system.B. List the types of bank accounts you will open for your organization.
Where do you intend to sell your product? Describe the advantages and disadvantages of your location(s).B. What are the surrounding businesses? Access routes?C. If vehicular traffic is important to your business, what is the traffic density for this location?D. What is the workforce availability in
Identify the ways you plan to promote your product or service, including the message, the media, and the distribution channels.Describe why you have chosen these methods and why you think they will work.B. Show examples of the marketing materials you intend to use for selling.C. What is your
Describe your pricing strategy and structure and the gross margins you expect to generate.B. What will your discount structure, if any, be?C. Will you accept personal checks from customers? Credit cards? Will you offer charge accounts or customer credit?
Explain how your marketing plan targets your market segment.B. What percentage of the market do you feel you need to capture for your business to be profitable?C. Write a positioning statement for your business.D. How do you plan to grow the organization (self-generated, franchising, acquisition)?
How do you define/describe your competition, both direct and indirect?B. Describe your competitive advantage.C. Find three competitors and describe them.D. Describe any international competitors you have found who may be able to access your customers. How do you intend to compete?E. Describe your
Perform a SWOT analysis of your organization.B. What extemal!environmental factors are likely to impact your business?C. Are there customers for your business in other countries? How do you plan to reach them?
Describe your research methods (surveys, focus groups, general research, and statistical research).B. Describe your target customer along as many dimensions as you have defined (demographic, geographic, needs, trends, and decision-making process)
What is Jackson's leadership style?
List some examples of why the women might see the reprimands as unfair or unjust.
What are the arguments for and against notifying Agritechno's growers? What is the basis for each argument?
What are the arguments for and against notifying Agritechno's investors? What is the basis for each argument?
Why are Andropov and Brown frustrated and angry about the suggestions from Holbrook, Girard, and Castillo?
Nick and Dennis sought legal counsel when their chairperson simply stopped working and they had to slow down their growth plans. Comment on how you think this affected them and the company.
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 chairperson?
Visit a local brick-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 premises, describe its culture.
What would push you to fire an employee? List five reasons that you believe would justify termination. Describe how you would handle the firing.
What are the 10 functions of management? Why are they important?
Fill out a PERT chart for your business or one that you can imagine, or use Microsoft Project or other software package to do the same thing.1
What are the benefits of a well-executed performance-appraisal process?
Incorporate social responsibility into your company.
Pursue ethical leadership to build an ethical organization.
Understand the functions of human resources management.
Determine your organizational structure.
Develop your organizational culture.
Describe the 10 basic tasks handled by managers.
Identify leadership styles.
What were the main differentiating characteristics of ONLC's remote classroom instruction offering, compared to the competitors who were also offering virtual training?
How can ONLC have over 200 locations and maintain an efficient cost structure at low volumes in each?
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 1 0).b. Map these locations on an ordinary street map.c. Map them on a census map.d. What geographic
Assume the following about Magnetic Poetry's cost structure: The wholesale price for one Original Magnetic Poetry Kit is$9.50. The retail price is $20. It costs the company as follows:$2.50 to manufacture one Original Magnetic Poetry Kit, $0.50 to package it, $0.50 for shipping and handling, and $
Go online and visit Magnetic Poetry's Web site at http://www.magneticpoetry.com.What other products has the company developed? How do these products connect to Kapell's original concept?
As Magnetic Poetry evolved from a startup into a thriving business, Dave made the decision to change his legal structure from a sole proprietorship to a Subchapter S corporation. What are the advantages and disadvantages of each of these forms? Why do you think that Dave's advisors encouraged him
Do you think it was a good idea for Kapell to sell his 40 percent ownership of U.S.Magnetix? What are some things he will need to consider now that he no longer has an ownership stake in the manufacturing aspect of his business?
Magnetic Poetry kits are currently sold in bookstores, specialty gift shops, and online.Brainstorm three additional distribution outlets for this product.
What form of organization would you recommend to the group and why?
What information about forms of organization does the group need?

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Entrepreneurship Starting And Operating A Small Business 3rd Edition Caroline Glackin - Solutions

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