1.Why do you think Entrepreneurship is a science?provide example/ scenario that will support your answer.minimum of 100 words. 2.Why do you think Entrepreneurship is an art? Provide exampla/scenario that will support you answer.minimum of 100 words. 3.What are the Advantages and Disadvantages of venturing in entrepreneurship rather than becoming a business manager (Employed)? Provide atleast 3 each & explain each Advantages and Disadvantages.

1.Why do you think Entrepreneurship is a science?provide example/ scenario that will support your answer.minimum of 100 words. 2.Why do you think Entrepreneurship is an art? Provide exampla/scenario that will support you answer.minimum of 100 words. 3.What are the Advantages and Disadvantages of venturing in entrepreneurship rather than becoming a business manager (Employed)? Provide atleast 3 each & explain each Advantages and Disadvantages.

Foundations of Business (MindTap Course List)

6th Edition

ISBN:9781337386920

Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Chapter4: Choosing A Form Of Business Ownership

Section: Chapter Questions

Problem 6DQ

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1.Why do you think Entrepreneurship is a science?provide example/ scenario that will support your answer.minimum of 100 words. 2.Why do you think Entrepreneurship is an art? Provide exampla/scenario that will support you answer.minimum of 100 words. 3.What are the Advantages and Disadvantages of venturing in entrepreneurship rather than becoming a business manager (Employed)? Provide atleast 3 each & explain each Advantages and Disadvantages. 4.What are the Advantage and Disadvantages becoming a business manager (Employed) rather than venturing in Entrepreneurship?Provide atleast 3 Each & explain each Advantage and Disadvantages. 5.What are the Advantages of invention of money in the field of Entrepreneurship( Provide atleast 3)?what is the impact/effect of invention of money to the modern day Entrepreneurship? 6.Explain why it is said that "Entrepreneurship is the life blood of ant economy?minimum of 100 words.
Wanted: Entrepreneur by Ron Wirtz A working definition: A bird's-eye view shows a lot of research on this topic of late. For example, the Entrepreneurship Research & Policy Network (part of the Social Science Research Network) was started in March 2006 and already consists of more than 4,300 papers. Babson College's most recent annual compendium of entrepreneurship research includes close to 200 papers in 26 categories. Universities are adding faculty and entire programs to study and teach entrepreneurship. In 1996, the Kauffman Foundation and the University of Maryland started what would later become the Global Consortium of Entrepreneurial Centers. Today, the network includes more than 200 universities. Such activity and attention has improved our understanding of entrepreneurship, particularly here in the United States. For example, we have a much better idea of the socio-demographic characteristics of entrepreneurs: Men are more likely than women to start their own business;…
One of the common barriers of starting a business for the entrepreneur is not being able to generate a business idea. However, there are elements that one can use to generate these business ideas, such as from skills, expertise and aptitude, from common needs, from existing problems, from everyday problem and form other sources. In relation to theelements highlighted discuss and explain how the business ideas are generated.
1.What are the Advantage and Disadvantages becoming a business manager (Employed) rather than venturing in Entrepreneurship?Provide atleast 3 Each & explain each Advantage and Disadvantages. 2.What are the Advantages of invention of money in the field of Entrepreneurship( Provide atleast 3)?what is the impact/effect of invention of money to the modern day Entrepreneurship? 3.Explain why it is said that "Entrepreneurship is the life blood of ant economy?minimum of 100 words.
Imagine that you want to start your own business. For your business: (a) Decide on and state a new business concept (the type of business that you want to start and what it does). (b) Decide on and state a name and slogan for that business. (c) Consider at least three different types of business entities (e.g., corporation, sole proprietorship, LLP, LLC, general partnership, LP. S-Corporation), and choose one of those three types of entities as the form of business organization for your new business. (d) List the three types of entities that you considered and provide three reasons that the type of entity you chose for your business is better than the other two tvpes of entities (vou may wish to consider some of the following: ease of formation, tax consequences, management rights, duration, liability, and transferability of ownership (e) Develop a brief marketing strategy for your new business, and state your marketing strategy, including short-term and long-term strategies (f) Will…
REFLECTION: If you're thinking about starting a business, most likely you have dreamed of one that involves your interests. But, what does the market need or want? Do you know who is buying what and how much, or how, where and why they are buying those goods or services already? Determining the marketability of your start-up business is typically done in the context of creating a business plan and performing an analysis of your competition. It requires research into areas of marketability,
It Ways Of starting a business. You will U Die entrepreneurial process, which starts with identifying and evaluating the opportunity. The heart of this module is the scanning of the marketing environment where you formulate a product or service solution applying the techniques of seeking, screening, and seizing opportunities. As a result, you will deal with analyzing the need of the market, think of the potential set of products or services that will meet the need, assess the feasibility of the solution, and select the best product or service De that will address the need. • PRE-ACTIVITY Directions: Answer the following. 1. In a scenario where you are creating a product to sell, what are the things that you need to consider? Why? 2. What are the role of your neighbors, friends, family members and the community if you are going to put up a business? 3 |Page
1. What are some theories offered to explain aspects of your field of business? 2. Reflect on your own social network. How are the nodes in your social network linked? What social capital do you gain from your social network? 3. How do propositions and hypotheses differ?
Q1. Define entrepreneurship and explain the process of entrepreneurship explaining each stage with any of your business idea that you really want to start in your real life.
1. Outline the difference between a business idea and a business opportunity? Why is this distinction important? 2. Define business concept statement, in your own words. Outline its main elements. 1. Identify three (3) features of the Five Competitive Forces Model and discuss how they operate to affect the profitability of firms in an industry. 2. Describe a business start-up you are contemplating and explain why you have made this choice. 3. Identify and discuss the four (4) major components of a business feasibility analysis. 4. a) What is the purpose of conducting a business feasibility analysis? b) When is the best time to conduct a feasibility analysis? c) Justify your response.
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…
1. What makes being an entrepreneur unique compared to other professions or careers? 2. Give a specific example of each of the social and economic benefits of entrepreneurship. b.d.e.g.h.3. What are the common and core competencies of an entrepreneur? Choose one common competency and one core competency. Discuss each. citing examples. 4. Explain the concept of STEEPLED. 5. What are the 7Ps of marketing? Briefly describe each. a. b. C.d. e.