Please answer all questions going into detail. Developing An Effective Business
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Please answer all questions going into detail.
Developing An Effective Business Model
Question 1: What are the four main components of a business model? Explain.
Question 2: What is a key asset? Provide an example of a key asset that is utilized by an entrepreneurial firm. Question 3: What is a disruptive business model? Explain and give an example.
Industry and Competitor Analysis Question 1. What are the five forces of industry analysis? To what industries can we apply the five forces? Are some industries more profitable than others? If so, give an example of a profitable industry and a not-profitable industry besides soft drinks and airlines.
Question 2. Choose an industry besides soft drinks and airlines and apply the five forces to the industry. Explain how each of the five forces operates in your industry. Explain whether each force is high, medium, or low for your industry. Note: an industry consists of multiple companies, not just one.
Business Plan Question 1: Why should entrepreneurs write a business plan? Explain the dual-use purpose of the business plan.
Question 2: Identify and explain the three types of business plans.
Question 3: Choose a well-known company and identify the target market of this company. Do not make statements such as “everyone is the target market.”
Preparing the Proper Ethical and Legal Foundation Question 1: What are the benefits and drawbacks for a small business to incorporate? Question 2: Give an example of a well-known ethical businessperson. Why do you consider this person to be ethical? Question 3: From your reading of Chapter 7 and the voice-over slides, when Cater’s Furniture Company sold four stores to Heilig-Myers Furniture, what agreement did Heilig-Myers require John Cater to sign? Why did they require John Cater to sign the agreement personally?
Assessing a New Venture’s Financial Strength and Viability
Question 1: Which ratio(s) would you analyze to assess profitability? Can a small business continue without being profitable? Explain why or why not. Question 2: Give an example of a successful small business.. Why has this company been successful? Question 3: Identify and explain the four financial objectives of a firm.
Building a New Venture Team Question 1: Describe the term “liability of newness” and suggest several ways that a new venture can overcome this handicap. Question 2: Why may it be better for one person to start a new company than a team? Explain.
Question 3: Give an example of a new (less than five years old) small business. State when the company was started. Why has this company been successful?
Getting Financing or Funding Question 1: What is meant by the term “bootstrapping”? Explain. Question 2: Explain the differences between equity and debt financing and how they both affect the owners of the business.
Question 3: Give an example of an individual, a company, a bank, or an organization that helps new businesses in the East Texas/ Tyler area to get started and explain how they help.