Why might an entrepreneur prefer to launch an entirely new venture rather than buy an existing firm? What are the three basic types of startup ideas? What are the most common sources of inspiration for startup ideas? What are the two basic strategy options for creating a competitive advantage?
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Questions 1) Why might an entrepreneur prefer to launch an entirely new venture rather than buy an existing firm?
What are the three basic types of startup ideas? What are the most common sources of inspiration for startup ideas?
What are the two basic strategy options for creating a competitive advantage?
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Solved in 4 steps
- How does strategic development differ for startups versus established companies?Besides writing a business plan, list and describe three other steps that are important in the startup of a new business. Then, describe home-based businesses and explain why and how home-based businesses have become the fastest-growing segment of business startups. Would you run a start-up business from your home? Why or why not?What are the three basic types of startup ideas? What are the most common sources of inspiration for startup ideas?
- Think of a feasible business that you plan to startup in your area. Commence in formulating the name of your projected business down to its target market, explain why you plan to venture such trade. (You can draw your ideal business ventureMany entrepreneurs take initiative and do market research on a business idea before starting the business, or before even deciding to pursue the idea at all. Do you feel this is a good idea? Why or why not?1.What are some reasons for success or failure of entrepreneurs?2.What are the widely used legal structures for entrepreneurs? Explain each one and its implications for paying taxes.3.What method is commonly used to research trends in the market?4.What need in the market does your product or business fill?5.What are the four Ps of Marketing? Explain each one, you can include examples
- It is not advisable for new entrepreneurs to rely on information from new relationships and contacts. O True O FalseRespond to this with 180 words. Mention any verifiable high performing and a reputable company (local, national, or international) that you are quite familiar with and reflectively justify that it is imaginative, creative, innovative, and entrepreneurial. Explain the differences, interrelationships, and interdependences between the imaginations, creativities, and innovations of this company as well as their connections and importance to entrepreneurship, and their influence on the profitability and sustainability of this company.What is the new-new approach to starting a new venture? How does this approach differ from a new-old approach?
- For a startup it is better to have generalists or specialists.justify answerBeing an entrepreneur means you are acquiring certain skills and abilities. Briefly describe the meaning of entrepreneur and any 4 different skills an entrepreneur must has to be successful?Describe how attitudes, competition, financial management, preparation and people management impact the success and failure of entrepreneurs2. Identify key entrepreneurial theories and link the theories to successful entrepreneurial practice3. Describe the process of identifying, developing and implementing a business idea4. Outline the principles and processes of strategic management