REFLECTIVE LEARNING SHEETBREAK EVENLOSSIn business, profit is not always aguarantee. There were times that youwill also encounter loss or may bebreakeven. But as an entrepreneur,how do you think your business canreachingthelevelofsurpassbreakeven?Doentrepreneurstheirencounteringbusinesses had mishaps in runningtheir business? Why do you say so?Support your answers with facts.breakeveninPROFIThtps://images.app.goo.gl/aGSiuzuH4awGaLA7

Breakeven point is the point of sales at which the firm achieve no profit and no loss state. It is…

Answered: In business, profit is not always a…

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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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.
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…
b) “A start-up entrepreneurship does not need to develop a business plan when launching a new enterprise. All he/she need is a business idea and money to start operating.” Evaluate this statement supporting your answer with facts. d) What options does an entrepreneur have if he or she becomes unhappy with the growth of the company?
IS MOuue Will aiscuss the proper and efficient ways of starting a business. You will be introduced to the 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 that will address the need. PRE-ACTIVITY. Directions: Answer the following. 1. In a scenario where you are creating a product to selI, 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 iput up a business? 3|Page
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.
Note the quotation from the extract below and discuss the various methods of generating ideas entrepreneurs who have closed their start up can utilise to "Bounce back" using your OWNexample to support you discussion. “The pain of closing a business can overwhelm founders, whose identity is intertwined with that of their venture. Failedfounders wonder what they’ll do next—are they employable? Adding to their worries, their personal finances may be inshambles. Most entrepreneurs cut their own salaries as their venture goes into decline, and many have invested theirlife savings in the startup—along with funds from friends and family.
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.
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 business
Based on your total life experience up to this point—as a student, consumer, employee, parent, and anyother role you’ve played—what sort of business wouldyou be best at running? Why?
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…
Cathy wants to open her own accounting firm. She requires your help with the business plan. Advise Cathy on reasons for an entrepreneur to write a business plan.
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.

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