Assume that you own a travel agency in a large city after COVID-19 pandemic period is relieved. You have many corporate clients, but growth has slowed somewhat. Some long-term employees are getting discouraged, but you feel that there might be a way to make technology work in your favor. Use your imagination and do a SWOT analysis: Suggest at least one strength, one weakness, one opportunity, and one threat that your business faces.
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- 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…Khalil quit his job as an investment banker to start Assi Rafts, a canoe and kayak rental business in Bekaa. Khalil was tired of the corporate life and was ready for a change. He bought a land, built his facility, and bought canoes, kayaks, trailers, and vans. He did no market research such as talking to potential customers before investing in the business. In the seven years the business operated, it never reached even half the revenues it needed to be successful. In the end, he closed the business after spending all his and his parents' savings. What function would a business plan play in Khalil's case? * Enhance his creativity Strengthen his research skills Attract lenders and investors he was in desperate need for to launch his business Serve as his road map on the O journey toward building a successful businessIt 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. Identity five elements that are important in assessing and comparing the attractiveness of alternative business opportunities in terms of their market potential.2. identify three elements that are important in assessing and comparing the attractiveness of 'alternative business opportunities in terms of their financial viability.The three important reasons why a person would choose to be an entrepreneur instead of an employee can be highlighted through the following points: Step 2 Sense of Accomplishment: People who are more self-driven and have a deep sense of achievement and desire for self-accomplishment are never satisfied with a mediocre life which employment brings and they rather want to speed up the process of their growth and development so they are more motivated to start something of their own which can bring them prosperity, status, power, and recognition. They don't want to have a boss: The people tend to show more inclination towards leading than to be ruled. They have leadership skills and want to do work their way. They don't do well with regulations, rules, and policies that working as an employee brings and want to rather work independently. People prefer being an entrepreneur to avoid authority and restrictions laid down on them by bosses so they would avoid being an employee. They have…Entrepreneurs must be strategic thinkers in order to develop the plans and objectives necessary to start abusiness that will last. Imagine you are starting a new music-streaming service. You have decided todifferentiate your service from the others already in the marketplace. Think of three ways to add value toyour service and also the performance measures you’ll need to use in order to know if your added valueis really valued by customers.
- Writing a business plan is your map to how you are going to operate. Regardless of whether you are interested in taking over an existing business or starting a new one; they both have challenges that you will need to overcome in order to succeed. Discuss one of the challenges in starting a new business and how you may be able to address that challenge with a well-designed business plan. Your challenge can be unique to either a start-up or on-going business or both.Did Ms. Mayer successfully contribute as the C.E.O. of Yahoo or was she vastly overpaid?What are the 8 advantages and disadvantages of (each) Friedman's traditional view and Carroll's 4 responsibilities of business.
- If you had all yoour important documents and achievements stored to on a business establishment drive and you were terminated. How would you be able to show your skills to potential employers without access to these important documents?Explain the goal of shareholder wealth maximization, and whether this goal is a short-term goal or a long-term goal. Identify the conflict between the goal of shareholder wealth maximization and other stakeholder concerns (sometimes referred to as environmental, social, and governance (ESG) concerns). Cite one real-world example of a company that reflects other stakeholder concerns in its mission statement or stated corporate values. Explain, for your chosen real-world example, how the company’s incorporation of stakeholder concerns could enhance (or detract from) the company’s shareholder wealth maximization goal. Construct one question related to shareholder wealth maximization goals.Considering the COVID 19 pandemic and its impact on the general business environment, use the business model canvas to develop a new business that has higher chances of survival, growth and profitability: stating clearly your justifications.