Introduction to Business
OER 2018 Edition
ISBN: 9781947172548
Author: OpenStax
Publisher: OpenStax College
expand_more
expand_more
format_list_bulleted
Textbook Question
Chapter 5, Problem 2CTC
How did their Ahmed and Steven Case's
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
1. The family ran the business peacefully for 50 years.
What are the contributing factors?
and how do you think they’ll challenge each other?
Mini Case: Ben and Jerry’s Ice CreamThis idiosyncratic business was founded and developed by two partners, both entrepreneurs but, at face value, unlikely businessmen. Ben Cohen was a college dropout who had become a potter. His friend from hisschooldays was Jerry Greenfield, a laboratory assistant who had failed to make it into medical school. They had become ‘seventies hippies with few real job prospects’. They decided they wanted to do something themselvesand ‘looked for something they might succeed at’. They ‘liked food, so food it was!’ They could not afford the machinery for making bagels, their first choice, but ice cream was affordable. In 1977 they opened an ice-creamparlor in Burlington, Vermont, where there were ‘lots of students and no real competition’. They fostered a relaxed, hippy atmosphere and employed a blues pianist. Their ice cream was different, with large and unusualchunks. They were instantly successful in their first summer, but sales fell off in the fall and…
please answer all the questions:
1- Define:
A- Sole Proprietorship.B- Partnership.C- Corporation
2-Describe 4 Advantages and 4 Disadvantages of each of these forms of Business.
Chapter 5 Solutions
Introduction to Business
Ch. 5.1 - Describe several types of entrepreneurs.Ch. 5.1 - What differentiates an entrepreneur from a...Ch. 5.1 - What are some major factors that motivate...Ch. 5.2 - Describe the personality traits and skills...Ch. 5.2 - What does it mean when we say that an entrepreneur...Ch. 5.3 - What are three ways small businesses can be...Ch. 5.3 - What social and economic factors have prompted the...Ch. 5.4 - How can potential business owners find new...Ch. 5.4 - Why is it important to develop a business plan?...Ch. 5.4 - What financing options do small-business owners...
Ch. 5.5 - How does the small-business owner's role change...Ch. 5.5 - How does managing a small business contribute to...Ch. 5.5 - What are the benefits to small firms of doing...Ch. 5.6 - Why are small businesses becoming so popular?Ch. 5.6 - Discuss the major advantages and disadvantages of...Ch. 5.7 - What is the Small Business Administration (SBA)?Ch. 5.7 - Describe the financial and management assistance...Ch. 5.8 - What significant trends are occurring in the...Ch. 5.8 - How is entrepreneurial diversity impacting small...Ch. 5.8 - How do ethics impact decision-making with...Ch. 5 - As the owner of a small factory that makes plastic...Ch. 5 - What characteristic made Vic Ahmed a successful...Ch. 5 - How did their Ahmed and Steven Case's partnership...Ch. 5 - Is focusing on smaller cities rather than areas...
Additional Business Textbook Solutions
Find more solutions based on key concepts
What is a firms micro environment, and why is it important?
Principles of Management
Discussion Questions 1. What characteristics of the product or manufacturing process would lead a company to us...
Managerial Accounting (5th Edition)
Ravenna Candles recently purchased candleholders for resale in its shops. Which of the following costs would be...
Financial Accounting (12th Edition) (What's New in Accounting)
What is an internai change order and how is it used?
Construction Accounting And Financial Management (4th Edition)
The comptroller wants to set the standards according to a study done by a consulting firm for a company. The co...
Principles of Accounting Volume 2
E2-13 Identifying increases and decreases in accounts and normal balances
Learning Objective 2
Insert the mis...
Horngren's Accounting (11th Edition)
Knowledge Booster
Similar questions
- Which of the five business environments are the most relevant for grubhub 2) what are the risks and benefits of becoming an entrepreneur as opposed to working for others 3) what is the major challenge presented by comepitors like Amazon and Uber to grubhub's business 4) how does limited liability partnership differ from a general partnership in terms of liability 5)why would someone choose to francihise what are the advantages of owning a franchise 6) how is a franchise different from a partnershiparrow_forwardSalman is planning to start a business with his brother (A gym). - Explain to Salman what the strengths and weaknesses of a family business are. (Mention 3 strengths and 3 weaknesses).arrow_forwardProvide the company name of the following and explain how did their business succeeded. 1. Mark Zuckerberg 2. Dustin Moskovitz 3. Chris Hughes 4. Andrew Houston 5. Nathan Blecharzyk 6. Kevin Systrom 7. Arash Ferdowsi 8. Evan Spiegel 9. Bobby Murphy 10. David Karparrow_forward
- Compare and contrast the various types of business ownership and the advantages/disadvantages of each. TWO paragraphs.arrow_forwardmpany History and Profile Both Ito-Yokado and Seven-Eleven Japan were founded by Mr. Masatoshi Ito. He started his retail empire after the Second World War when he joined his mother and elder brother and began work in a small clothing store in Tokyo. By 1960, he was in sole control and the single store had grown into a $3 million company. After a trip to the United States in 1961, Ito became convinced that superstores were the wave of the future. At that time, Japan was still dominated by Mom- and-Pop stores. Ito’s chain of superstores in the Tokyo area was instantly popular and soon constituted the core of Ito-Yokado’s retail operations. In 1972, Ito first approached the Southland Corporation about the possibility of opening Seven-Eleven convenience stores in Japan. After rejecting his initial request, Southland agreed in 1973 to a licensing agreement. In exchange for 0.6 percent of total sales, Southland gave Ito exclusive rights throughout Japan. In May 1974, the first Seven-Eleven…arrow_forwardWhat characteristics made Vic Ahmed a successful entrepreneurs?arrow_forward
- 1. Ask yourself and list down what qualities do you want from a business partners, and then identify people who have these qualities to be a partner for a small business project. 2. Answer the following: What market - product can be converted into business opportunity? What role will each of the partners play (who to do buying, who to do marketing, who to do selling, who to do delivery, etc.)? Who among you shall be the head of the partnership? Why? How will profit be split? What are sales goals weekly for the next four weeks? 3. Who among the successful entrepreneurs you know can be your mentor? Why?arrow_forwardSome entrepreneurship authors argue that writing a business plan is a futile exercise. Do you agree with this assumption (yes or no)? Explain. Also, Is there a difference between writing a business plan and writing a social venture plan? Explain.arrow_forward2) Do you agree or disagree with James Clear's idea that our actions (what we do) defines our identity? What does this mean for our perception of our ability to be an entrepreneur (Remember that being an entrepreneur doesn't mean starting a business). 3) How is an entrepreneurial mindset related to habits and self leadership?arrow_forward
- Explain the goal of shareholder wealth maximization, and whether this goal is a short-term goal or a long-term goal. Identify the conflict between the goal of shareholder wealth maximization and other stakeholder concerns (sometimes referred to as environmental, social, and governance (ESG) concerns). Cite one real-world example of a company that reflects other stakeholder concerns in its mission statement or stated corporate values. Explain, for your chosen real-world example, how the company’s incorporation of stakeholder concerns could enhance (or detract from) the company’s shareholder wealth maximization goal. Construct one question related to shareholder wealth maximization goals.arrow_forwardExplain the pros and cons of being an entrepreneur. How would you determine if an individual possesses the characteristics that it takes to creating their own business (self-direction, level of uncertainty, etc.)?arrow_forwardA)What are the different types of Start-Ups? Explain it with an example the difference between Breakthrough innovation and Technical innovation? B)Explain the Entrepreneurial Process in your own words. What is Window for Opportunity? C)Consider an example of your own choice to explain the major differences between Entrepreneurship and Management when it comes to Decision making?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Management, Loose-Leaf VersionManagementISBN:9781305969308Author:Richard L. DaftPublisher:South-Western College Pub
Management, Loose-Leaf Version
Management
ISBN:9781305969308
Author:Richard L. Daft
Publisher:South-Western College Pub