Foundations of Business (Standalone Book) (MindTap Course List)
5th Edition
ISBN: 9781305511064
Author: William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher: Cengage Learning
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Chapter 5.2F, Problem 2CC
Summary Introduction
To determine: The major causes of small-business failure and explaining whether these causes apply to larger business failure.
Introduction: The term business is defined as the planned exertion of people to manufacture and trade, for revenues, the goods and services that fulfill the requirements of the people. A business must be designed in such a way that it is managed efficiently, gratify the needs and should make profits.
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List four common causes for business failure.
List three advantages that small businesses have over larger, more complex companies.
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Foundations of Business (Standalone Book) (MindTap Course List)
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- Select a small business in any place in the world that has failed. List the factors you think led to its failure. Compile a list of action the business owners might have taken to keep the company in business ?arrow_forwardGive an example of an entrepreneur(s) who reaped at least one benefit and drawback?arrow_forwardWhat is the optimal business model for rapid growth?arrow_forward
- Could writing a conventional business plan every cause more harm than good? Explain your answer?arrow_forwardDetermine the characteristics that entrepreneurs need in order for their businesses to be profitable. How can these qualities be fostered in the company's employees?arrow_forwardWhat are the most common reasons for a small business to fail? Do these factors extend to larger corporations as well?arrow_forward
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