a) Outline a stress test approach that you would undertake to evaluate a business concept b) Luke and Olivia have decided that they would launch a business. Describe two (2) problems or challenges that they would face and suggest strategies they can utilize to ensure the success of this new business enterprise.
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a) Outline a stress test approach that you would undertake to evaluate a business concept
b) Luke and Olivia have decided that they would launch a business. Describe two (2) problems or
challenges that they would face and suggest strategies they can utilize to ensure the success of this new business enterprise.
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- Which factor of the four following factors do you believe is most important to include in a great business plan? Why do you believe this factor is of such importance and what makes it more important than the other factors, in your opinion? people, profile of business, business context, and risks & rewardsIdentify a particular type of business you may wish to start. You are required to:1. Develop a written mission statement for that business2. Construct a set of goals for the business3. From the set of goals developed in (2) above, formulate specific verifiable objectives4. Devise a statement of social responsibility (CSR) for the business5. Discuss two strategies that you intend to adopt to grow the businessChoose a challenge in starting a new business and how you may be able to address that challenge with a well-designed business plan. Challenge can be unique to either a start-up or on-going business or both.
- 1. Could writing a conventional business plan ever cause more harm than good? Explain your answer?2. If you wanted some assistance in setting up and running a new business, you might look at business incubators as a solution. What kind of assistance would you consider the most valuable?3. Given the risks involved in starting any company, should an aspiring entrepreneur investigate all possible failure scenarios and develop action plans to avoid these potential outcomes? Explain your answer.4. How do autocratic, democratic, and laissez-faire leadership styles differ?5. Ethical considerations. Apart from meeting the company’s future talent needs, do managers have a personal ethical obligation to help their employees develop and advance in their careers? Explain your answer.6. What are the advantages and disadvantages of the unstructured organizational model?7. Suppose you are the marketing manager of the credit-card department of a financial institution. Your objective is to support the…1. Outline the difference between a business idea and a business opportunity? Why is this distinction important? 2. Define business concept statement, in your own words. Outline its main elements. 1. Identify three (3) features of the Five Competitive Forces Model and discuss how they operate to affect the profitability of firms in an industry. 2. Describe a business start-up you are contemplating and explain why you have made this choice. 3. Identify and discuss the four (4) major components of a business feasibility analysis. 4. a) What is the purpose of conducting a business feasibility analysis? b) When is the best time to conduct a feasibility analysis? c) Justify your response.What are the 4 M’s of a Mission advocated by the Harvard I-lab video and PDF on SE business plans? Why do you believe articulating a clear mission and having a well-written business plan are particularly important to a social enterprise?
- Which factor(people, profile of business, business context, and risks & rewards) do you believe is most important to include in a great business plan? Why do you believe this factor is of such importance and what makes it more important than the other factors, in your opinion?The founder of TikTok and ByteDance Zhang Yiming is considered a successful entrepreneur. Discuss in detail the following three characteristics of a successful entrepreneur: having an entrepreneurial mind-set; being alert to opportunities; and the ability to deal with uncertainty. Also indicate how entrepreneur Zhang Yiming demonstrates each characteristic? Answer this question in 750 wordsThe written report of your new entrepreneurial firm based on the criteria given below.1. Identify and discuss business to be ventured into: background of business, product, service and industry. 2. Identify its business strategy: the desired image and position in the market and SWOT analysis. 3. Marketing strategy: target market, advertising and promotion strategy, pricing structure and its distribution strategy. 4. Competitor analysis: identify the existing competitors and potential competitors. 5. Descriptions of the management team: key managers & employees, backgrounds, experience & skills. 6. Financial & funding: sources & uses of funds. 7. Critical risk factors: critical risk factors that your new business/firm may face. These risks may be management risks, marketing risks, financial risks or other risks depending on your industry and particular situation.
- Good planning forces entrepreneurs to anticipate several things for his business. What are they?1- Entrepreneurs must set goals that are Specific, Masked, Actionable, Reasonable, Tacy Specific, Masked, Actionable, Reasonable, Time bound Special, Metered, Actionable, Reasonable, Timely Specific, Measurable, Actionable, Relevant, Time-bound 2- According to Mark Cuban, the #1 reason why entrepreneurs fail is Lack of money, lack of energy Lack of brain, lack of hard work Lack of family and professional connections Lack of good idea 3- Starting a new business guarantees freedom True False 4- Who is an intrapreneur? People who are responsible for internal activity in an entrepreneurial venture people who independantly set up big organizations people who take up entrepreneurial activity as part of a bigger organization 5- Successful entrepreneurs have following qualities They are highly emotional None of the above They care too much for self-respect They are very creative1. Outline the difference between a business idea and a business opportunity? Why is this distinction important? 2. Define business concept statement, in your own words. Outline its main elements.