CASE PROBLEM BUSINESS ORGANIZATIONS, GROWTH AND INTEGRATIONS FACT 1. Every potential businessman can engage himself into business activities, prompting him to generate income, assume growth and maximize profit. Presume that you are proponent of a business. You have ready resources and capital to start the operation and the venture. FACT 2. There are many reasons of business expansion and assuming growth. There are many ways of doing this but it takes time and efforts to gain competitive edge over the market when there are many challenges that may affect the business. Competition, management style, demand, productivity and many others are such of the factors contributive to business success. FACT 3. A business plan is a procedural format detailing out the processes of doing business. It is a dummy used by entrepreneurs to determine if their plan is feasible and adaptive to the market for operation. You are a young entrepreneur and you would want to engage in business. 1. Briefly define on your own understanding the following: (IL01) a. Business b. Entrepreneurship C. Sole Trader d. Privatization e. Synthetic Industry 2. Recognize by explaining the following aims of business. (ILO2) 3. Discuss the significant points of a free enterprise economy. (ILO1) 4. As a future businessman, when ask which form of business to operate, which do you prefer, Sole Trader or Partnership? Interpret your options. (IL04) 5. As an entrepreneur who would want to expand his business, which of the types of expansion would you prefer to adapt, Internal Growth or External Growth? (ILO3) 6. Evaluate the strong points of a marketing aspect of business plan. (IL06)