Sun Tzus The Art of War Principle: We are not fit to lead an army on the march unless we
Sun Tzu’s The Art of War Principle:
"We are not fit to lead an army on the march unless we are familiar with the face of the country – its pitfalls and precipices, its marshes, and swamps".
5) a) Based on your understanding about Sun Tzu’s The Art of War Principle, define industry analysis in the context of start-up entrepreneurship. Justify why entrepreneurs are required to perform such analysis before entering new industry by linking your rationales with environmental trends and business trends.
5) b) Generally, entrepreneurs discover that trying to operate their business without borrowed funds or invested capital is difficult. Because of this, entrepreneurs need to understand the different approaches available to them to gain access to the amount of capital needed to successfully support their ventures in the pursuit of organizational success. This is the case of Sonata. He starts his fusion ceramic business 3 months before the Movement Control Order (MCO) imposed due to Covid-19 Pandemic. He found that to advance his business he needs funding assistance.Based on what Sonata is facing currently, first, identify and discuss TWO (2) reasons any new startup entrepreneur just like Sonata need funding and, secondly, provide TWO (2) examples of funding round with its purpose of the funding that are relevant for Sonata.