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business
entrepreneurship theory process practice
Entrepreneurship Theory Process And Practice 5th Edition Donald F. Kuratko, Richard M. Hodgetts - Solutions
To analyse a business, what types of questions or concerns should the entrepreneur address in the following areas: history of the business, market and competition, sales and distribution, management, and finances?
Identify and discuss the three underlying issues in the acquisition of a business.
What would you recommend Pacapol do now? Briefly outline a plan of action he can use to get the financing process started.
In preparing the business plan for the bank, how would this differ to the approach for a private placement, or for the ICC network? Can he present the same plan?
What would be the benefits of raising the THB 120 million through a private placement? What would be the benefits of raising the money through ICC? Are there other creative ways to find a blend of capital raising and adapting the business model?
Would a crowdfunding campaign be the right avenue? After all, they want to grow the business online, so why shouldn’t they use this same channel to raise funds? Be complete in your answer and describe why or why not this form of capital raising would be suitable.
What would be the advantages of approaching their uncle and what would be the risks if he said yes? Should they consider debt or equity with a family member?
Would a commercial banker be willing to lend money to the Kumars? How much? On what do you base your answer?
What are the opportunities and risks associated with the new forms of cryptocurrencies for entrepreneurs seeking funds?
Why would an entrepreneur opt to seek crowdfunding? Describe the types of funds an entrepreneur may expect to achieve through the two main types of crowdfunding.
Define the difference between peer-to-peer lending and crowdfunding.
Why do some entrepreneurs need micro-credit?
What has given rise to the emergence of the ‘Impact Investor’ and what, if any, are the differences between them and an angel investor?
An entrepreneur of a new venture has had no success in getting financing from formal venture capitalists. He now has decided to turn to the informal risk capital market. Who is in this market? How would you recommend that the entrepreneur contact these individuals?
What are some special considerations in approaching family, friends and the foolhardy for entrepreneurial capital?
What are the four Fs and can you identify four-F investors that you know?
Which type of informal investors demand a lower return on investment (ROI)?
An entrepreneur is in the process of contacting three different venture capitalists and asking each to evaluate her new business proposal. What questions should she be able to answer about each of the three?
Some entrepreneurs do not like to seek new-venture financing because they feel that venture capitalists are greedy. In your opinion, is this true? Do these capitalists want too much ROI?
In a new-venture evaluation, what are the four stages through which a proposal typically goes? Describe each in detail.
Identify and describe four of the most common criteria venture capitalists use to evaluate a proposal.
What advantages does venture capital financing offer over finance from an angel investor?
What are some of the advantages of going public? What are some of the disadvantages?
Identify and describe four types of debt financing. Which would you use and why?
If a new venture has its choice between long-term debt and equity financing, which would you recommend? Why?
Profile the differences in characteristics between formal and informal investors as sources of capital.
Identify five different sources of capital and describe the stage of venture development that would most suit each different source.
Of what value is break-even analysis to Dennis? Be complete in your answer.
If the project will be profitable, will it provide Dennis with the desired 20 per cent return? Explain.
What is the break-even point for this project? Will the company make money if it manufactures the components? Show your calculations.
How does the internal rate of return method work? How would you explain it to Regina?
How does the net present value method work? How would you explain this method to Regina?
Using the 2018 sales figures as a trend, with a spreadsheet, develop a sales forecast for January to December with the increase in workflow enabled by each machine purchasing option. Regina has calculated that she obtains a net margin of 5, 9.5 and 15 per cent respectively for the routine
If Bill has some room for negotiation with the computer company, what would you recommend he do? Why?
Should Bill bid on the contract? Why or why not?
Make up five more questions that could be added to this exercise.
Which country in the world has the ‘worst’ price for a Big Mac?
In which country, Australia or New Zealand, is a Big Mac sold at the best value?
Which country, Australia or New Zealand, is doing better in retail sales volume?
Which country has the highest budget balance as a percentage of GDP? Based upon interest rates, where would you ideally invest your money?
Which country has the highest and which has the lowest trade balance?
Which region of the world has the lowest industrial production?
Which country has the lowest GDP growth and which has the highest?
Which country has the highest predicted increase in GDP from this year to next?
What is the price of one barrel of West Texas Intermediate crude oil?
What are the trends in world oil prices?
How is the price of cocoa tracking?
Which stock (share) has dropped the most?
Which world share market is doing best right now?
What is a sensitivity analysis and why should an entrepreneur seek to apply it? Explain.
When would an entrepreneur be interested in break-even analysis? Explain how fixed, variable and mixed costs are used in the break-even analysis.
Describe the internal rate of return method. When and why would an entrepreneur use this method?
Describe the net present value method. When would an entrepreneur use this method? Why? Make up an example similar to the one in ‘Entrepreneurship in practice: The Indian entrepreneur and the cunning NPV’.
One of the most popular capital-budgeting techniques is the payback method. How does this method work?Give an example.
Describe how a capital budget is constructed.
What are pro forma statements? How are they constructed? Be complete in your answer.
Describe how a cash-flow budget is constructed.
Describe how an operating budget is constructed.
Describe two sales forecasting methods and explain how they are used.
What are the benefits of the budgeting process?
Describe the purpose of the balance sheet, the income statement and the cash flow statement. Why are these three statements of accounts important for an entrepreneur to understand? Explain in detail.
What do we mean by performance measures? What are the traditional ones? Why do we need to look beyond these now?
Which of the six values do you think is the most present in INCREASE’s culture?
Regarding the type and distribution of clients INCREASE has, what would you recommend in terms of designing a strategy?
Why do you think the company decided to start offering new products and start operations in new countries?
Would you invest three weeks in an induction program? Do you agree that every employee should know every part of the company? What do you think about the total transparency policy?
What consequences might there be in recruiting many employees in a short period of time?
Do you think it was the right time for INCREASE to start an investment round? Why?
What would you say was the main driver that led Matias and Sebastian to start the company?
Do you think there might be some family dynamics involved?
For the financial segment, what suggestions would you make to Katrina regarding the kinds of information to include? Be as specific as possible.
For the critical-risks assessment segment, what key areas does Katrina have to address? Discuss two of these.
What should Katrina put in the marketing segment? What types of information will she need?
How would you recommend Pedro get ready for his meeting with the venture capitalist? Be complete in your answer.
Would a business plan be of any value to Pedro? Why or why not?
In addition to financial questions, what other questions is the venture capitalist likely to ask Pedro?
What were the secrets of Brigit’s success without a business plan?
Based on Brigit’s experience, would you still recommend writing a business plan or would you just ‘wing it’?
Are there any novel or innovative entrepreneurship competitions at your university (see Table 11.1)?
Under what circumstances would you suggest simply skipping a business plan?
Briefly describe each of the major segments to be covered in a traditional business plan.
Describe the five-minute reading process that venture capitalists follow when reading a business plan.
What are some of the benefits of traditional business planning? When would we use it?
What are some of the dynamics of ownership and equity splits?
Why do you think the summary/pitch in a lean plan is written first and last?
What do we mean when we say ‘form follows function’ in business planning? Use an architectural analogy to explain your answer.
Why has lean business planning emerged as an alternative, particularly among young companies?
Why do traditional plans sometimes not achieve their objectives?
What are some of the new forms of business planning?
What are the main differences between ‘traditional’ business planning and ‘lean’ business planning?
When selling the creditors on your recommendation, what argument(s) would you use?
Is Debbie correct in saying she will need to declare bankruptcy? Explain your answer.
Under Australian law, is Debbie’s business technically insolvent? If so, what are the consequences? If not, why not?
How could Tom have protected himself against invalidating his patent application when pitching his new machine to the five major suppliers? Describe how you would have approached this scenario differently to maximise your chances of a successful patent application and your projected returns.
If Tom does get a full patent, can he bring action against infringers? Will it be worth the time and expense?Why or why not? Are there any alternatives to a full patent application?
Given the nature of the industry, how valuable will a patent be to Tom? Explain.
What is liquidation and how does it relate to insolvency?
What is a proprietary limited (Pty Ltd) company and why would an entrepreneur choose to adopt this legal form of entity over being a sole trader? What is the equivalent form of the Pty Ltd company in Singapore, Malaysia and India?
How does a limited partnership work? Give an example.
Explain the limited liability partnership.
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