Can I have an answer for this one, please? ENTREPRENEUR'S TASK• Provide products and services for customers and producers• Provide employment• Provision of payment of taxes• Provide for supplier's products and services• Provide training facilities for future entrepreneursThe Entrepreneurial TasksLand (Natural Resources).Labor (Human Resources)Capital (Financial ResourcesEntrepreneurProduction ProcessFinancial Good and ServicesFigure 1 Entrepreneurial TasksIn an attempt to make profits, the ENTREPRENEUR performs:• Supply the necessary capital• Organize production by buying and combining inputs like materials and labor• Decide on the rate of output, in the light of his expectation about demand• To bear the risk inherent to the venture

Entrepreneurship is the process of identifying, exploring, and pursuing opportunities to start and…

Answered: In an attempt to make profits, the…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure. Greenville Cabinets received a contract to produce speaker cabinets for a major speaker manufacturer. The contract calls for the production of 3,700 bookshelf speakers and 4,500 floor speakers over the next two months, with the following delivery schedule: Model Month 1 Month 2 Bookshelf 2,300 1,400 Floor 1,700 2,800 Greenville estimates that the production time for each bookshelf model is 0.7 hour and the production time for each floor model is 1 hour. The raw material costs are $12 for each bookshelf model and $14 for each floor model. Labor costs are $24 per hour using regular production time and $35 using overtime. Greenville has up to 2,600 hours of regular production time available each month and up to 1,200 additional hours of overtime available each month. If production for either cabinet exceeds…
How is Phoenix able to remember the way to her destination? Group of answer choices She is able to find her way with the help of a large black dog She asks several helpful people for directions After many trips there, her feet remember where to take her There are signs at regular intervals along the path
Evidence suggests that the employees who already have the highest skill levels in an organization are the most likely to receive further training, while the lower-skilled employees most in need of training are less likely to receive it, either because those employees decline opportunities or because they are not selected to participate. Why might the situation described above happen? What criteria should be used to determine who is selected to participate in training programs? How can organizations encourage lower-skilled employees to take advantage of elective training opportunities?
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Effectuation is a way of thinking, which includes a set of decision-making principles that expert entrepreneurs employ in situations of uncertainty. Part 1 Here, you will apply the first effectuation principle, Bird-in-Hand, to take stock of your means. You may think, "But I am not starting a business now." You are right! However, this exercise will teach you to become aware of your strengths and how to apply this principle, and then you can apply it anytime you need. Fill up the table below to take stock of what you have on hand right now. It is like a snapshot of your strengths as they are today! You have 30 minutes to complete this task. Who am I? (List your values, attributes, and abilities here, e.g., honest, sincere, hard-working, go-getter, empathy, ability to get along with people) What do I know - 2? (List down your soft skills like decision making, negotiation, or leadership skills) What do I know - 1? (List your hard skills here, e.g., software programming,…
No. 2: Miss. Sara is a Marketing Manager of a large events management company. The company arranges high-end events and parties for its clients including NGOs, Small and large businesses, executives, and youth. Management consistently feels difficulty in the arrangement of flowers for different events in different organizations. Now she has been asked to conduct an analysis of the market and come up with a plan so that the company can start a separate business of flowers supply in the town. You are required to explain: Briefly explain the steps she needs to conduct the analysis (i.e., 5C’s, STP, 4Ps, etc.). How she can use Marketing Management Strategy Framework for the development of the plan? What are your recommendations for her whether to enter into the new business or not? In either case, Justify your recommendation.
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make a comment on: A topic or idea that stood out to me in chapter 2 of Conflict Between Persons is that of mental models. Mental models can be described by Arnett as such, "Mental models entail thoughtful advance preparation, offering readiness for the unexpected" (Arnett, pg. 32). A mental model goes beyond the expected scope of a problem, project, or idea that encompasses the organization's mission, vision, and values. Its intention is to prepare the groups for any expected and unexpected switch or road block by embodying a big picture aspect. It begins with an idea or vision a group seeks to create. It is then requires a vision led by the purpose or mission of the bigger picture. Finally a mental model operates in actions and thoughts that are conducive to the organization's mission and core values. The article I have chosen deals with the mental model of Game Theory. Game theory is strategic model that considers how one should make decisions. It acts a logical analysis of…

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In an attempt to make profits, the ENTREPRENEUR performs: • Supply the necessary capital • Organize production by buying and combining inputs like materials and labor • Decide on the rate of output, in the light of his expectation about demand • To bear the risk inherent to the venture