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Solved in 2 steps
- How does an entrepreneurial firm identify and utilize a value prosposition?Should there be a balance between making a profit for pharmaceutical company owners and providing life-saving or life-extending drugs to customers? How much profit is too much profit and who determines the amount? How does that ‘balance’ get achieved?Why is it important to know the market size of the business?
- What is a product or service that you feel was almost made just for you? How do you think the entrepreneurs who designed it knew you would feel that way?What are the four objectives of a firm wishing to maximize profit?Can you name the six most common types of businesses? Is there evidence to back up your hypothesis? Does your job need a different option? Tell me more about your idea; I'm assuming it involves some kind of virtual flea market for used goods.
- If you are starting a business and your product is newly released in the market. If demand is low, what will you do (as the manufacturer or owner) to increase the demand and for your product to be known?Why is the business model of one company can be the same or different from other companies?Create 150 questions like the following for a pastry shop: Do you have the financial capacity for this type of business? Do you have the raw materials available and nearby? Do you have qualified labor available? Is labor expensive? Do you have the technology you require available? Is it necessary to dedicate a lot of time and effort? Do you have skills to manage this type of business? Is the business idea innovative? Is it easy to sell the product? Are there government policies or franchises or subsidies for your product or activity?