Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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Question
Chapter 6, Problem 1PPT
Summary Introduction
To discuss: The interactive entrepreneurial quiz and checking whether there are qualities to be a successful entrepreneur or not.
Introduction:
The person who risks time and money to start and manage a business are known as entrepreneurs.
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Students have asked these similar questions
discuss the objectives of an entrepreneur.
use the below points as part of discussion
1.
To gain control over one’s destiny
2. To reach full potential
3. To contribute to society and be recognised for their efforts
4. To start a new career
5. To make a profit
a. There is a new University built in your area. Write down six (6) opportunities you can take as an Entrepreneur to serve this University community to generate impressive wealth. b. Choose one of those opportunities you have identified in (1a) and write a business plan as an Entrepreneur for financial support from an investor
Being 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?
Chapter 6 Solutions
Understanding Business
Ch. 6.1 - Prob. 6.1AQCh. 6.1 - Megan Gibson has always been a big fan of peanut...Ch. 6.1 - Prob. 6.1CQCh. 6.1 - Prob. 6.1DQCh. 6.1 - Prob. 6.1EQCh. 6.1 - Prob. 1TPCh. 6.1 - Prob. 2TPCh. 6.1 - Prob. 3TPCh. 6.1 - Prob. 4TPCh. 6.2 - When Roni Di Lullas dog Midnight had trouble...
Ch. 6.3 - Prob. 1MEDCh. 6.4 - Prob. 6.4AQCh. 6.4 - Prob. 6.4BQCh. 6.4 - Prob. 5TPCh. 6.5 - Prob. 6.5AQCh. 6.5 - Prob. 6TPCh. 6.5 - Prob. 7TPCh. 6 - Prob. 1CECh. 6 - General repair service-paints, makes household...Ch. 6 - Prob. 3CECh. 6 - Prob. 4CECh. 6 - Prob. 1CTCh. 6 - Prob. 2CTCh. 6 - Prob. 3CTCh. 6 - Prob. 1DCSCh. 6 - Prob. 2DCSCh. 6 - Prob. 3DCSCh. 6 - Prob. 4DCSCh. 6 - Prob. 5DCSCh. 6 - Prob. 1PPTCh. 6 - Prob. 2PPTCh. 6 - Prob. 1VCCh. 6 - Prob. 2VCCh. 6 - Prob. 3VC
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Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, management and related others by exploring similar questions and additional content below.Similar questions
- After working in software development with a major food company for 12 years, you are becomingimpatient with corporate “red tape” (regulations and routines). You have an idea for a new snack productfor nutrition-conscious consumers and are thinking of starting your own company. What entrepreneurial characteristics do you need to succeed? What other factors should you consider before quitting your job?arrow_forwardEntrepreneurs 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.arrow_forwardEntrepreneurial competencies refer to the characteristics of an entrepreneur. It requires certain qualities or characteristics for establishing and running a business enterprise. In your own words, explain the different qualities you need to acquire to become a successful entrepreneur.arrow_forward
- Choose a challenge in starting a new business and how you may be able to address that challenge with a well-designed business plan. Challenge can be unique to either a start-up or on-going business or both.arrow_forwardDescribe 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 managementarrow_forwardQ3) After finishing this course how you can apply entrepreneurial process in a logical way allow to create your own business in a more successful way?arrow_forward
- 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 examplesarrow_forwardSuppose,You are an entrepreneur and need to prepare a business plan to present in the investor's meeting.Write down to executive summary, objectives,mission ,vision and keys to success of your business plan.arrow_forwardImagine that you are an entrepreneur who is planning to start a lawn care business. What steps would you take in order to carefully assess the costs and benefits of your business before launching?arrow_forward
- You plan to open a new business. Before you can approach a potential investor, you will need a strong plan. Describe the purpose and components of a business model and write a one-paragraph business model description for a business of your choice.arrow_forwardAs 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.arrow_forwardThere are many risks faced by an entrepreneur when he starts up a business or deals with the business. Discuss the FIVE (5) challenges faced by entrepreneurs when they are dealing with the risks.arrow_forward
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