To think critically about: The thought to become an entrepreneur and if the statistics in chapter gives the courage to pursue a venture.
Introduction: Entrepreneur is an individual who tends to begin a new venture, handle the risk involved and enjoy the profits individually. Entrepreneur helps to generate better employment opportunities in the economy.
Explanation of Solution
Yes, becoming an entrepreneur has always been a thought in mind. An entrepreneur is the individual body to handle the risk and earn its benefits. It helps an individual to maintain the individuality in the market.
The example of millionaire A is a motivation to the path of becoming an entrepreneur. The statistics of millionaires that is 2,000 in the world that tends to hold a wealth equal to a $6.5 trillion.
Therefore, it can be concluded that the millionaires have motivated for the goal to become an entrepreneur.
Want to see more full solutions like this?
Chapter D Solutions
UNDERSTANDING BUSINESS-W/ACCESS>CUSTOM<
- What is the probability of running a successful business?arrow_forwardWhat personal and business goals would you hope to achieve by starting your company?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
- If your personal credit is shaky at the moment and youdon’t have a lot of cash to invest in a new business, whatsteps could you take to get a new company going?arrow_forwardHow does getting a degree or majoring in business management make your life meaningful?arrow_forwardExplain the four types of Preneurs and Give two example each; > Intrapreneurs > Solopreneurs > Entrepreneurs > Investorpreneursarrow_forward
- Top entrepreneurial qualities that would ensure business success in 2021?arrow_forwardIf you are the owner of one of the most competitive/profitable grocery chain companies here in the country and would want to compete against the best in the industry, whats the next thing that you will do to your company? Go public or remain private? You may consider the current economic climate, political, and other factors for your decision- making.arrow_forwardWhat are some financial issues and problems entrepreneurs deal with, and how can they conquer them?arrow_forward
- Management, Loose-Leaf VersionManagementISBN:9781305969308Author:Richard L. DaftPublisher:South-Western College Pub