Foundations of Business - Standalone book (MindTap Course List)
4th Edition
ISBN: 9781285193946
Author: William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
Chapter 5, Problem 1DQ
Summary Introduction
To determine: The steps to take in order to protect from business failure.
Introduction: A small business administration is an autonomous organization of the United States government that secures the interests of independent or small business ventures and guarantees that they get a decent amount of government contracts.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
WHO WILL BENEFIT FROM A WELL-WRITTEN BUSINESS PLAN?
Why does the business go bankrupt? What do you think are the main reasons for the failure of many businesses, especially micro and small-scale enterprises? What can be done to keep small businesses viable and to increase their chances of growing bigger and stronger?
Describe some of the reasons why entrepreneurs and small businesses fail?
Chapter 5 Solutions
Foundations of Business - Standalone book (MindTap Course List)
Knowledge Booster
Similar questions
- If someone buys a business but hires professional managers to run it so they don’t have to be involved in the operations, are they an entrepreneur?arrow_forwardHow can small businesses compete with big businesses that sell similar goods and services?arrow_forwardWrite down the six most common kinds of businesses. Can your theory be put to the test? Is there another way for you to fill this job that would be better? Tell me more about your idea. I'm guessing it has something to do with a virtual street market where people can buy and sell used items.arrow_forward
- The goal of all businesses is to make money, but those that have a purpose beyond profit tend to do better. Write your reflection about this statement.arrow_forwardHow will you know if your business is making profit or not?arrow_forwardYou have just graduated from the MBA program of a large university, and one of your favorite courses was “Today’s Entrepreneurs.” In fact, you enjoyed it so much you have decided you want to “be your own boss.” While you were in the master’s program, your grandfather died and left you $1 million to do with as you please. You are not an inventor, and you do not have a trade skill that you can market; however, you have decided that you would like to purchase at least one established franchise in the fast-food area, maybe two(if profitable). The problem is that you have never been one to stay with any project for too long, so you figure that your time frame is 3 years. After 3 years you will go on tosomething else. You have narrowed your selection down to two choices: (1) Franchise L, Lisa’s Soups, Salads, & Stuff, and (2) Franchise S, Sam’s Fabulous Fried Chicken. The net cash flows shown below include the price you would receive for selling the franchise in Year 3 and the forecast…arrow_forward
- When you want to be an entrepreneur, what are the qualities you have to possess to be able to distinguished from other businessmen?arrow_forwardIf given enough resources such as money or capital and time. Will you buy an existing business or create a new one?arrow_forwardConsidering the various types of business entities, how would you convince a company’s founder that becoming a B corporation or a public benefit corporation is a better way to do business? Provide some examples of companies that have chosen this type of corporate entity. Additionally, discuss how you think that becoming a B Corporation or a public benefit corporation can help address social and environmental problems while still attracting consumers and investors?arrow_forward
- If you had to start a business right now and generate profit as quickly as possible, what kind of business would you start? Explain your answer.arrow_forwardStarting up and managing a business requires one to act responsibly and ethically at all times. It is also imperative that one carefully considers the management team and the opportunities that franchising presents to a business to create a bigger brand name and increased market share You may consider franchising your business at some point. Discuss with justification, the type and model of franchise that your business will enter into.arrow_forwardHow can you ensure that your business complies with tax laws and regulations? What are the potential consequences of failing to pay taxes or filing inaccurate tax returns?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Principles Of MarketingMarketingISBN:9780134492513Author:Kotler, Philip, Armstrong, Gary (gary M.)Publisher:Pearson Higher Education,
MarketingMarketingISBN:9781259924040Author:Roger A. Kerin, Steven W. HartleyPublisher:McGraw-Hill Education
Foundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
Marketing: An Introduction (13th Edition)MarketingISBN:9780134149530Author:Gary Armstrong, Philip KotlerPublisher:PEARSON
Contemporary MarketingMarketingISBN:9780357033777Author:Louis E. Boone, David L. KurtzPublisher:Cengage Learning
Principles Of Marketing
Marketing
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Pearson Higher Education,
Marketing
Marketing
ISBN:9781259924040
Author:Roger A. Kerin, Steven W. Hartley
Publisher:McGraw-Hill Education
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Marketing: An Introduction (13th Edition)
Marketing
ISBN:9780134149530
Author:Gary Armstrong, Philip Kotler
Publisher:PEARSON
Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning