Discuss how can an entrepreneur effectively balance the need to innovate and take risks with the need to manage resources and ensure profitability in the long term?
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b. Discuss how can an entrepreneur effectively balance the need to innovate and take risks with the need to manage resources and ensure profitability in the long term?
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- How can an entrepreneur determine which risks to take and which to avoid?What are the things to consider while writing a business plan to raise external capital?1. Could writing a conventional business plan ever cause more harm than good? Explain your answer?2. If you wanted some assistance in setting up and running a new business, you might look at business incubators as a solution. What kind of assistance would you consider the most valuable?3. Given the risks involved in starting any company, should an aspiring entrepreneur investigate all possible failure scenarios and develop action plans to avoid these potential outcomes? Explain your answer.4. How do autocratic, democratic, and laissez-faire leadership styles differ?5. Ethical considerations. Apart from meeting the company’s future talent needs, do managers have a personal ethical obligation to help their employees develop and advance in their careers? Explain your answer.6. What are the advantages and disadvantages of the unstructured organizational model?7. Suppose you are the marketing manager of the credit-card department of a financial institution. Your objective is to support the…
- Suppose you are president of the Entrepreneurial Association of Beckon College (EABC). EABC is a new students’ association in the school of business and has 50 members. It was formed two years ago when the department of management instituted a major in entrepreneurship. One of the purposes of EABC was to promote entrepreneurship as the major and minor course of study at the college. To further this purpose, the association recently voted to institute an annual Rs.18000 EABC scholarship. The scholarship will be awarded on the basis of merit to a junior or senior business student majoring in entrepreneurship at EABC. Funds for the scholarship will be raised by selling coffee and doughnuts each day from 7:30 to 10:30 a.m., in the main corridor of School building. Required: On behalf of Manager Admission, write a memo giving all details to the principal asking permission to start fund raising project in February.4. What are the characteristics of the marketplace? characteristics of the marketplace you are about to enter, and not just about entrepreneurial brilliance. If you decide to enter into a declining market that is full of strong competition, you will multiply your chances of failure. On the other hand, enter into a market that is merging, growing, and has few competitors and you will stand a higher chance of being successful. Features of the marketplace you are about to enter? Is the market growing, or receding in size? If it's growing, among which age and income groups. Do you have to know if the marketplace is shifting from offline to online delivery? If so is the traditional marketplace moving towards the website, mobile, and/or tablets.discuss how this equation can be distilled into two component ratios: ‘margin’ and ‘turnover’, and explain how the relationship between these component ratios gives an entrepreneur a tool to maximize profitability.
- The following are the fundamental questions to consider when starting a business EXCEPT: Do you have a viable concept? Is the reason you want to start a business consistent with your character and concept? Do you know how to run a business? Do you have what it takes? 3You have just graduated from the MBA program of a large university, and one of your favorite courses was “Today’s Entrepreneurs.” In fact, you enjoyed it so much you have decided you want to “be your own boss.” While you were in the master’s program, your grandfather died and left you $1 million to do with as you please. You are not an inventor, and you do not have a trade skill that you can market; however, you have decided that you would like to purchase at least one established franchise in the fast-food area, maybe two(if profitable). The problem is that you have never been one to stay with any project for too long, so you figure that your time frame is 3 years. After 3 years you will go on tosomething else. You have narrowed your selection down to two choices: (1) Franchise L, Lisa’s Soups, Salads, & Stuff, and (2) Franchise S, Sam’s Fabulous Fried Chicken. The net cash flows shown below include the price you would receive for selling the franchise in Year 3 and the forecast…As would-be Entrepreneur, you are tasked to write down at least 3 career opportunities which attract you most. Indicate what competencies you need to enhance in order to become successful in these opportunities. Write your answer in the space provided.
- As would-be entrepreneur, you are tasked to write down at least 3 career opportunities which attract you most. Indicate what competencies you need to enhance in order to become successful in these opportunities. Explain your answer.What functions does a business plan perform?2. What can the entrepreneur do to increase the chances of his product being purchased or repurchased?