Questions and Answers of Entrepreneurship Starting Operating

What method of communication, if any, would you recommend for investors? Growers?
What are the arguments for and against notifying Agritechno’s growers? What is the basis for each argument?
What are the arguments for and against notifying Agritechno’s investors? What is the basis for each argument?
Choose three things you would plan to do to run a socially responsible business. Explain why you made the selections you did.
Identify a business leader, preferably an entrepreneur. Describe his or her leadership style based upon at least two public sources (excluding any wikis, such as Wikipedia) and give examples to
Visit a local bricks-and-mortar business (not a Web site) where you buy products or services. Go through your shopping experience as you normally would. Once you have left the place of business,
What would push you to fire an employee? List five reasons that you believe would justify termination. Describe how you would expect to handle the firing.
Compare and contrast two leadership styles as identified in this chapter.
Can you legally fire an employee if you have an argument about religion?
What is one kind of tax employers have to pay for employees?
How old does someone have to be before he or she can work full time in the United States?
Describe three leaders you admire. What characteristics do you most admire about them and why?
Describe the components of an organizational culture that you would find appealing.
What are the benefits of a well-executed performance appraisal process?
How can managers make a business a positive and rewarding place to work?
Describe and illustrate the sales cycle(s) for Sew What?
How are the company’s core values exhibited?
Xavier Zumsteg is selecting a location for his upscale urban fashion boutique. He has selected three cities to consider and needs to make a choice. Using the factor-rating method, identify the five
How can zoning affect location for a home-based business?
What factors are most critical to the location decision for a manufacturer?
Use your local telephone company’s business-to-business directory or The American Wholesalers and Distributors Directory, or an online wholesaler directory to locate wholesalers you could visit or
What is the customary role of demographic information in the selection of a retail location?
If you were to start a home-based business, what might it be? Why? What key factors would you consider before startup (specific to the topics of the chapter)?
Examine a label on either the shoes or a piece of clothing you are wearing today. Which items were made in foreign countries? How many dollars per hour do you think the people earned who made these
Choose a partner in class and make a list of the technology each of you can personally access. Brainstorm how you might combine your technological resources to create a successful business. Describe
Visit the Airbnb Web site (http://www.airbnb.com) and search for an accommodation for yourself. Describe the legal and risk issues you saw addressed during the process, and those that would be of
Some businesses do sell products and services that can injure customers. List three examples and explain how these companies probably use insurance.
Suki is buying an old van from her brother to start her flower-basket delivery service. She planned to buy auto insurance that would pay all her expenses in case she ever got into an accident. She
What is the purpose of having a form notarized?
Find a lawyer who might be willing to help you with your business. Ask your parents/guardians who are in business or store owners in your community for referrals. The Small Business Administration or
What types of insurance will your business need and why? What is the highestdeductible you feel you can afford? Pick one type of insurance you want to have for your business and find a company online
Give an example of a business in your community that you think may be infringing on someone else’s intellectual property. Explain why you believe this to be possible.
How do you plan to protect your intellectual property (e.g., trademark, copyright, patent)? Explain why it would qualify for protection.
Describe any intellectual property you are developing (without improperly disclosing a potential patent).
Use computer software to create a logo for your business. Do you intend to trademark your logo? Explain.
With a partner, make a list of the technological tools each of you could personally access. Brainstorm how you might combine your resources to create a successful business. Describe in detail how the
What can happen to an entrepreneur who is personally liable for the business? How can an entrepreneur protect himself or herself from personal liability? Say your friend wants to start a business
If you were to open a clothing store, what do you think would be a reasonable operating ratio for the rent, and why?
Which items in your business would you depreciate, and why?
Use the following balance sheet to answer the questions:Jean M€™s Florida-Style Subs, Inc.: Balance Sheet Ending December 31As you can see, total liabilities and owner€™s equity
If the owner of this fast-food restaurant invested $300,000 in start-up costs, what was his ROI for the year? (Assume June as average.)
State the financial equation for the balance sheet in three different ways.
How is depreciation treated on the balance sheet and what is the logic behind the treatment?
The following is a real estate mogul€™s balance sheet (in millions) as of December 31, 2014. All the businesses in her real estate empire were separately incorporated for liability
Describe how you think market conditions (such as gas prices, for example) are affecting each company’s growth.
Describe what you think the seasonality scenario would be for one year for each of the businesses listed and explain how cash flow would be affected over the course of the year.a. Ski shop in a
Imagine you are the owner of an upscale clothing store, like Barneys in Manhattan, which was driven out of business by a 7-percent pilferage rate. What creative solutions could you identify to reduce
State three rules for managing your cash.
What proprietary systems and services are noted?
What are the competitive advantages that Anago identifies?
How are master franchisees incorporated into the site?
Figure out how much income tax each of the following individuals owes. The marginal tax rates are structured as follows:• $0 to $8,925 = 10% rate• $8,925 to $36,250 = 15%• $36,251 to $87,850 =
Print the tax documents list available at http://www.ideacafe.com/tax_center/ and highlight the tax forms that a C corporation producing glass bottles will need.
What type of financing will you seek as start-up capital, and why?
What steps could you take to improve your creditworthiness?
What would you recommend if you were an employee? Why?
Brainstorm three things Damon might have done differently in planning his party to increase his sales revenue.
It took nearly 20 years from idea to market for MooBella. Clearly, it is a long development and start-up period. Reflect on the emotional and other nonmonetary factors that were likely involved for
Would you rather keep your financial records in an accounting ledger or on your computer? Why? In each case, how would you protect your records from being lost in a disaster, such as a fire, or, in
Research different accounting software programs online. Choose a program (or programs) for your business and explain your choice in a brief essay.
The following business concepts have been developed by your colleagues, and they have asked you to provide feedback on each as a potential investment. Using the data provided, calculate the payback
Calculate Profit per Unit for the same units. Total Profit Profit per Unit Units Sold $41.00 25 a. - $5.30 b. 30 $6,931.00 12 c. $7,931.25 75 $360.60 20 e. d.
Calculate Total Profit for the same units. Total CM Total Fixed Operating Costs Total Profit $66.00 $25.00 a. b. $54.70 $60.00 $7,356.00 $425.00 c. d. $12,000.00 $19,931.25 $560.60 $200.00 e.
Calculate Total Contribution Margin for the same items. Total Revenue Total Variable Costs Total Contribution Margin $50.00 a. $116.00 $329.70 b. $275.00 $14,796.00 $7,440.00 c. $40,931.25 d.
Calculate Total Revenue for the items below: Selling Price Unit Units Sold Total Revenue 25 $4.64 a. $10.99 b. 30 12 $1,233.00 c. $545.75 d. 75 $45.03 20 e.
Imagine that you have invented a guitar strap that goes over both shoulders, thereby reducing shoulder strain for the guitarist. This item could be a big seller, but before you can apply for a patent
Give an example of a business that you have observed lowering the price of a product. How do you think the business was able to reduce the price?
What type of referral network might support your proposed venture? Find such a group and write a paragraph about it and why it could be of value.
Write a memo to your partner discussing his or her sales calls and how they could be improved. When analyzing your partner’s efforts, use the eight steps of a sales call in the text as your guide.
Develop a brief sales pitch for three items that you are wearing. Tryout the pitch for each on a partner. Have your partner help you time the pitches to one minute. Do the same for your partner.
Create a company signature for your business e-mail. Keep it under-eight words.
What sources of information can you use to develop a customer profile?
What do you expect your personal “look”to be when you start selling your product/service, and why?
Why is customer service an extension of marketing?
Explain JoeGirard’s Law of 250 in your own words, and give examples from your own life.
List five things you intend to do at your business to offer superior customer service.
Describe a business that you deal with as a customer. Describe the customer service you receive there.What do you like (ord is like) about it? How could it be improved?
Research and report how much it would cost to run a banner ad on three Web sites. What are the pricing options? Are they listed on the companies’ Web sites? Where did you find the information?Bonus
What is the role of demographic information in the selection of a retail-location option? Provide an example of a retailer near you and the demographics that are significant for the company.
List four common marketing objectives. Explain why each is important.
Summarize why breakeven is a critical concept for any organization.
Identify a well-known public figure and discuss his or her brand. How has this individual enhanced this brand? How has he or she damaged it?
What is the role of demographic information in the selection of a retail-location option?
Where do you plan to locate your business? Explain.
If you were to start a home-based business, what would it be? Why? What key factors would you consider before start-up?
Use the following below to illustrate your marketing mix.
Discuss how pricing tells a story about your product.
Go online and conduct an industry-wide search for competition for your business. Create a profile of the competition (this may be written using a word- processing program or shown as a graph using
If an entrepreneur presents a business plan that an investor believes is deliberately vague and has provided inflated financial statements, what should that investor do?
Why might Shape magazine have named Happy Belly Curbside Kitchen as one of the 10 Healthiest Food Trucks in America? How would they be healthier than most food trucks?
How was this business tied to a social mission? What did the owners do to demonstrate their commitment?
Identify four critical resources for Happy Belly and how the owners secured them.
Describe the typical consumer your business plans to target.Gender:Age:Education:Income:Interests:What need do you plan to satisfy for this customer?
Research can give you a great deal of information, but you will have to use your math skills to make it more useful. For example, imagine you are interested in opening a dog care service, and you
Analyze and describe what you would expect the target market to be for a single seat hybrid automobile that gets 120 miles per gallon according to the demographics, psychographic and behavioral
Which four factors should market research include, and why?
Write a positioning statement for your business, or one that you envision, using the format provided.
Assess where you think your product or service is in the product life cycle. Where is it and why did you reach this conclusion?
Read and interpret the chart in Figure 4-2.a. Which single provider has the largest market share? What is the percentage?b. What share do the two largest suppliers enjoy together?c. How much bigger
What knowledge, skills, and abilities did the Halls have before starting their company?

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