Consider the following scenario and then answer the questions that follow. As a result of the...
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Consider the following scenario and then answer the questions that follow. As a result of the COVID-19 pandemic, Sne was laid off from her job as a caterer in a large national events company, receiving R100 000 severance pay. Sne used her cooking and catering skills to start her own pre-packaged meal company with home delivery, catering for young working families who do not have time for cooking and meal planning, yet still wish to eat healthy. Sne obtained a bank loan after presenting her business plan to the bank, using the loan and her severance pay to purchase cooking equipment and a delivery vehicle. Sne hired a delivery driver who also helps with packaging, and a part-time social media marketer to promote her meal service. In answering the questions below, consider the following: Maintain a balance between theory and application; All theory must be referenced from the textbook and other credible sources; You are required to paraphrase and explain concepts in your own words, with references. Q.1.1 Identify and discuss society's limited resources applicable to the scenario. Q.1.2 Defend Sne's preference for operating her business in a market economy. (10) (10) Q.1.3 Discuss the forms of entrepreneurship (i.e., opportunity and necessity (10) entrepreneurship) and explain whether Sne is an opportunity or necessity entrepreneur. Justify your choice. Q.1.4 Identify and discuss Sne's entrepreneurial traits and characteristics. (10) Q.1.5 Analyse the importance of a business plan for Sne as part of the entrepreneurial (15) process. Consider the following scenario and then answer the questions that follow. As a result of the COVID-19 pandemic, Sne was laid off from her job as a caterer in a large national events company, receiving R100 000 severance pay. Sne used her cooking and catering skills to start her own pre-packaged meal company with home delivery, catering for young working families who do not have time for cooking and meal planning, yet still wish to eat healthy. Sne obtained a bank loan after presenting her business plan to the bank, using the loan and her severance pay to purchase cooking equipment and a delivery vehicle. Sne hired a delivery driver who also helps with packaging, and a part-time social media marketer to promote her meal service. In answering the questions below, consider the following: Maintain a balance between theory and application; All theory must be referenced from the textbook and other credible sources; You are required to paraphrase and explain concepts in your own words, with references. Q.1.1 Identify and discuss society's limited resources applicable to the scenario. Q.1.2 Defend Sne's preference for operating her business in a market economy. (10) (10) Q.1.3 Discuss the forms of entrepreneurship (i.e., opportunity and necessity (10) entrepreneurship) and explain whether Sne is an opportunity or necessity entrepreneur. Justify your choice. Q.1.4 Identify and discuss Sne's entrepreneurial traits and characteristics. (10) Q.1.5 Analyse the importance of a business plan for Sne as part of the entrepreneurial (15) process.
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Q11 Limited Resources Applicable to the Scenario In the given scenario several limited resources are applicable Financial Capital Snes severance pay and the bank loan are examples of financial capital ... View the full answer
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Research Methods For Business Students
ISBN: 9781292208787
8th Edition
Authors: Mark Saunders, Philip Lewis, Adrian Thornhill
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