• What advice would you give an entrepreneur who was trying to finance a start-up? Why would most employees of small firms welcome a leadership approach that sought their ideas and involved them in meetings to let them know what was going on? Why might some employees resist such an approach? Some sports coaches have written game plans that they consult from time to time during games. If coaches need formal plans, does it follow that small business owners need them as they engage in their type of competition? Why or why not? What factor or factors would make you cautious about going to work for a small business? Could these reasons for hesitation be overcome by a good small firm? If so, how? If not, why not? List the factors in small business operations that favor the appointment of a human resources manager. Should such a manager always be hired on a full-time basis? Why or why not? What are the key attributes of a good business location? Which of these would probably be most important for a retail location? Why? Under what conditions would it be most appropriate for a new firm to buy rather than lease a building for the business? Why is the customer focus of quality management so important in a small firm? What can be done to ensure that the quality of a small venture’s products or services remains high? Discuss how asset and financing requirements might differ between a retail business and a service business. If you were starting a new business, where would you start looking for capital?
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