DQ1
Entrepreneurs
Please respond to the following:
Inc. magazine claims, “Entrepreneurship is more mundane than
it is sometimes portrayed . . . you don’t need to be a person of mythical
proportions to be very, very successful in building a company.” Discuss whether
you agree or disagree with this statement and why.
Analyze the characteristics of a successful entrepreneur and
determine if you have what it takes to start your own business. Provide
specific examples to support your response.
DQ2
Strategic Management
Please respond to the following:
Analyze the steps involved in developing a strategic plan
for a company and determine which step is the most difficult to get right.
Explain your rationale.
From the e-Activity, determine how you would leverage the
support provided by the U.S. Small Business Administration in planning and
starting your own business. Provide specific examples to support your response.
Week 2 discussion
DQ1
Choosing a Form of Ownership
Please respond to the following:
From the e-Activity, describe the most appropriate form of
ownership for your new franchise based on your current financial situation.
Provide specific examples to support your response.
Assume the form of your new business will be a partnership
(if you have not already done so). Discuss the types of conflicts that may
arise and how you could prevent them from arising in the first place.
DQ2
Franchising and the Entrepreneur
Please respond to the following:
Based on the case study (“Firehouse Subs”), determine which
of the three options executives are considering would be most beneficial to a
single franchise owner. Explain your rationale.
From the e-Activity, discuss the advantages and
disadvantages of being a franchisee of the franchise you selected. Provide
specific examples to support your response
Week 3 discussion
DQ1
Buying an Existing Business
Please respond to the following:
From the e-Activity, discuss the best possible method for
determining the value of the business you selected. Explain your rationale.
Create a strategy for negotiating the purchase of the
business you selected in the e-Activity.
DQ2
Feasibility Analyses and Business Plans
Please respond to the following:
Develop an idea for a new business and conduct a feasibility
analysis. Please be as creative as you like in the development of your idea
(but as careful as you can be in your analysis of that idea).
Analyze the steps involved in crafting a wining business
plan and make at least one recommendation for improving the process. Explain
your rationale for making the recommendation you did.
Week 4 discussion
DQ1
Creating a Solid Financial Plan
Please respond to the following:
Discuss the best way to leverage a breakeven analysis when
defining a business strategy.
Analyze the 12 financial ratios mentioned in the textbook
and determine which is the most useful to the greatest number of small
businesses. Explain your rationale
DQ2
Managing Cash Flow
Please respond to the following:
Analyze the steps involved in preparing a cash budget and
determine which steps presents the greatest number of obstacles to the greatest
number of small businesses. Explain your rationale.
Analyze the steps involved in avoiding a cash crunch and
make at least one additional recommendation for doing so. Provide specific
examples to support your response.
Week 5 discussion
DQ1
Guerrilla Marketing
Please respond to the following:
From the first e-Activity, discuss the key elements that
made the guerrilla marketing so successful. Explain your rationale.
Discuss possible best practices from the guerrilla marketing
campaign that different types of small businesses could leverage. Provide
specific examples to support your response.
DQ2
Advertising and Promotion
Please respond to the following:
From the second e-Activity, determine the best possible way
to leverage Facebook, Twitter, and other social networking sites to advertize
and promote the small business of your choice. Explain your rationale.
Select a small business with which you are familiar and then
determine the best way for that business to stretch its advertising budget.
Provide specific examples to support your response.
Week 6 discussion
DQ1
Pricing and Globalization Strategies
Please respond to the following:
From the e-Activity, discuss the best possible pricing
strategy based on whether the company you selected is a retailer, manufacturer,
or service firm. Explain your rationale.
Discuss the best possible way the company you selected could
expand its market globally.
DQ2
Globalization and Sources of Equity Financing
Please respond to the following:
From the e-Activity, discuss how the company you selected
might benefit from selling new customers on e-Bay (as opposed to building and
maintaining its own Website).
Referring to the same company, determine the best source of
equity capital available to the company you selected. Explain your rationale.
Week 7 discussion
DQ1
Sources of Debt Financing
Please respond to the following:
Briefly describe a small business you could envision
yourself owning and discuss the most appropriate source of debt capital for
that business. Explain your rationale.
From the e-Activity, discuss how you could best use an SBA
loan to get your business running or expanding. Provide specific examples to
support your response.
DQ2
Location, Layout, and Physical Facilities
Please respond to the following:
Using the same small business you described in the first
discussion, determine the best possible location for your business within
driving distance of where you now live. Explain your rationale.
Discuss the layout and design configuration of a building
you would like to use to house your business, including how you would comply
with the Americans with Disabilities Act.
Week 8 discussion
DQ1
Supply Chain Management
Please respond to the following:
From the e-Activity, determine which best practices can be
applied to the greatest number of small businesses. Explain your rationale.
Analyze the principles of Total Quality Management (TQM) and
Six Sigma in regard to quality control of a product or service, and make at
least one recommendation for improvement. Explain your rationale.
DQ2
Managing Inventory
Describe a retail business with which you are familiar and
determine the most suitable means of inventory control. Provide specific
examples to support your response.
For the same business, discuss what innovative steps you
could take to deter employee theft and/or shoplifting.
Week 9 discussion
DQ1
Fikes Products
Please respond to the following:
From the case study, discuss possible new options for
finding quality employees other than those considered in the case study.
From the case study, discuss how Mark Sims could better
motivate the employees he already has to become more productive and dedicated.
Provide specific examples to support your response.
DQ2
Management Succession and Risk Management Strategies
Please respond to the following:
Assume you are the owner of a small business with which you
are familiar. Outline the basics of a management succession plan for passing
the business on to the individual of your choice.
Referring to the same small business, determine the most
appropriate way for that business to minimize its exposure to risk. Explain
your rationale.
Week 10 discussion
DQ1
Ethics and Social Responsibility
Please respond to the following:
Select a small business with which you are familiar and
develop a plan of action for encouraging ethical behavior. Provide specific
examples to support your response.
Analyze a business’s responsibilities to the environment,
employees, customers, investors, and the community, and determine which is the
most important. Explain your rationale.
DQ2
The Legal Environment
Please respond to the following:
Select a small business with which you are familiar and
discuss the most likely forms of business law it would need to be concerned
about. Provide specific examples to support your response.
Referring to the same company, discuss the most likely
government regulations that would directly impact day-to-day operations.
Provide specific examples to support your response.
Week 11 discussion
DQ1
Summation
Please respond to the following:
Reflecting back on everything you have learned in this
course, discuss the single most important lesson any entrepreneur should apply
in order to be successful. Explain your rationale.
Summarize the lessons learned in this course in 140
characters or less (something you could post on Twitter).
DQ2
My Dream Business
Please respond to the following:
Discuss the most innovative idea you can dream up for a new
business. Explain why you think it would be successful.
Discuss the major challenges you would face in running such
a business and how you would expect to overcome them. Provide specific examples
to support your response.
Week 4 Assignment 1
Assignment 1: To Build or Buy
Due Week 4 and worth 240 points
Select a small business that you visit often (e.g., coffee
shop, bookstore, sporting goods store, etc.). Write a 6-8 page paper in which
you:
Craft a brief (1-2 pages) strategy for a business concept
that would directly compete with the small business you selected. Explain the
rationale for the strategy in detail.
Determine if it would make more sense to open the new
business you describe or to purchase the existing business you selected.
Explain your reasoning.
Discuss the most appropriate form of ownership for your new
business (assuming your current financial situation).
Outline a business plan for your business. Visit
http://www.sba.gov for tools and templates.
Include at least two (2) references outside the textbook.
Your assignment must follow these formatting requirements:
Be typed, double spaced, using Times New Roman font (size
12), with one-inch margins on all sides; citations and references must follow
APA or school-specific format. Check with your professor for any additional
instructions.
Include a cover page containing the title of the assignment,
the student’s name, the professor’s name, the course title, and the date. The
cover page and the reference page are not included in the required assignment
page length.
The specific course learning outcomes associated with this
assignment are:
Analyze the nature of entrepreneurship, business ethics, and
social responsibility in managing a successful small business.
Analyze a business strategy and supporting business plan for
a small business concept
Describe and analyze the necessary activities and key
decisions to start a small business.
Use technology and information resources to research issues
in small business management.
Write clearly and concisely about small business management
using proper writing mechanics.
Week 8 assignment 2
Assignment 2: Expanding Your Business
Due Week 8 and worth 240 points
Referring to the same business you either started or
purchased in the first assignment, write a 6-8 page paper in which you:
Outline a financial plan for your small business.
Develop a guerrilla marketing strategy for your small
business.
Discuss the most appropriate location for a second store (an
actual street address). Explain your reasoning.
Outline a plan for securing sources of debt financing for
your second store.
Include at least two (2) references outside the textbook.
Your assignment must follow these formatting requirements:
Be typed, double spaced, using Times New Roman font (size
12), with one-inch margins on all sides; references must follow APA or
school-specific format. Check with your professor for any additional
instructions.
Include a cover page containing the title of the assignment,
the student’s name, the professor’s name, the course title, and the date. The
cover page and the reference page are not included in the required page length.
The specific course learning outcomes associated with this
assignment are:
Describe and analyze the necessary activities and key
decisions to start a small business.
Analyze the key financial management considerations in
operating a small business.
Develop a guerrilla marketing strategy for a small business.
Analyze the role of pricing, credit, and equity financing in
defining a business strategy.
Use technology and information resources to research issues
in small business management.
Write clearly and concisely about small business management
using proper writing mechanics.
Quiz 1
Question 1 Dirk wants to be in control. He’s tired of taking
orders from others and wants to feel a sense of accountability for the outcome
of his work. Dirk displays the entrepreneurial characteristic of:
Question 2 Companies started by women differ from companies
started by men in that:
Question 3 Juan is able to work well in a constantly
changing atmosphere and has little concern for what tomorrow will bring. Juan
demonstrates which of the following characteristics of a typical entrepreneur?
Question 4 A key characteristic of a successful entrepreneur
is:
Question 5 Primary cause of business failure is:
Question 6 Launching and running a business can be an
extremely rewarding experience, but it also can:
Question 7 “Copreneurs” are marked by:
Question 8 One key to success with a business startup is to
begin with enough ________:
Question 9 Entrepreneurs start businesses for a number of
reasons including:
Question 10 Surveys show that owners of small businesses
believe that:
Question 11 Kyoto has started an interior decoration
business. Everything about the business, from its name to the color schemes
used in the corporate letterhead, is an expression of her personality. She sees
this business as her greatest personal achievement. Kyoto is experiencing the
opportunity ________ of small business ownership.
Question 12 Successful copreneurs are marked by which of the
following characteristics?
Question 13 Part-time entrepreneurship has an additional
advantage over starting up a company full-time in that:
Question 14 Which of the following trends is feeding the
growth of entrepreneurial activity?
Question 15 U.S. economic structure is moving:
Question 16 ________ focuses everyone’s attention and
efforts on the same target market. It is an expression of what the owner
believes in.
Question 17 The most successful strategic plans make the
________ focal.
Question 18 ________ are the broad, long-range attributes
the small business seeks to accomplish; ________ are the specific, measurable milestones
the company wants to achieve.
Question 19 When the small business owner assesses her
company’s strengths and weaknesses, she is dealing with the ________ business
environment.
Question 20 ________ are positive internal factors that
contribute towards accomplishing the company’s objectives.
Question 21 ________ are relationships between a
controllable variable–plant size, quality, packaging–and a critical factor
influencing the firm’s ability to compete in the marketplace.
Question 22 Once the vision and mission are established, the
entrepreneur needs to:
Question 23 These are products of the interaction of various
forces, trends, and events that are outside the control of the small business.
Question 24 Answering the question “What business am I
in?” defines the company’s:
Question 25 The final step of the strategic planning process
is:
Question 26 A mission statement should answer which of the
following questions?
Question 27 Which of the following best expresses the
relationship of a company vision to its mission?
Question 28 A small business’s “aggregation of factors
that sets it apart from its competitors” is its:
Question 29 ________ are negative internal factors that
inhibit the accomplishment of a firm’s objectives.
Question 30 Purchasing rival companies’ products, taking
them apart, and analyzing them is:
Quiz 2
Question 1 The ________ is the most complex form of ownership and is a separate
legal entity in the eyes of the law.
Question 2 The most critical disadvantage of the sole
proprietorship is:
Question 3 A significant disadvantage of a partnership is:
Question 4 A limited liability company is formed under:
Question 5 Probably the most important feature of a
partnership agreement is:
Question 6 A corporation receives its authority to operate
from:
Question 7 One major advantage of the ________ is that once
the owner has paid all of the company’s expenses, he/she can keep the remaining
profits (less taxes, of course).
Question 8 A
partnership is:
Question 9 All partnerships must have:
Question 10 Which of the following is a disadvantage of the
corporation form of ownership?
Question 11 Shares the corporation itself owns are called:
Question 12 If a partnership is formed without an agreement,
the partnership is automatically subject to the:
Question 13 ________ corporations have shares that are
controlled by a relatively small number of people – family members, relatives,
or friends.
Question 14 The most common form of business ownership is
the:
Question 15 A corporation doing business in the state in
which it is incorporated is considered to be a(n) ________ corporation.
Question 16 When buying a franchise, the potential
franchisee should first:
Question 17 The primary advantage of buying a franchise over
starting your own company is:
Question 18 Franchise advertising programs:
Question 19 ________ franchising involves the owner of an
existing business becoming a franchisee to gain the advantage of name recognition.
Question 20 When the franchisee has the right to establish a
semi-independent organization in a particular territory to recruit, sell, and
support other franchises, it is called a ________ franchise.
Question 21 There are two main risks in purchasing a
franchise. First, that of the franchiser’s experience and business system, and
second:
Question 22 The most expensive franchises in terms of total
investment are:
Question 23 Most franchise experts consider the most
important factor in the success of a franchise to be:
Question 24 The ________ requires all franchisers to
disclose detailed information on their operations at the first personal meeting
or at least fourteen days before a franchise contract is signed or any money is
paid.
Question 25 The most litigated subject of the franchisee
agreement is:
Question 26 ________ franchising involves providing the
franchisee with a complete business system–the established name, the building
layout and design, accounting systems, etc.
Question 27 In view of the cause of most new business
failures, probably the most valuable service provided franchisees by the
franchiser is:
Question 28 In franchising, ________ pay fees and royalties
to a ________ in return for the right to sell its products or services under
the franchiser’s trade name and often to use its business format and system.
Question 29 Another term for cobranding franchising is:
Question 30 When it
comes to purchasing products, equipment, etc., the franchiser:
Quiz 3
Question 1 The capitalized earnings approach determines the
value of a business by capitalizing its expected profits using:
Question 2 Before buying an existing business, the buyer
should analyze two external elements of the business:
Question 3 Which of the following is a criterion for a bulk
transfer?
Question 4 The valuation method that is commonly used, but
tends to oversimplify the valuation process, is called:
Question 5 When negotiating the deal, the most important
thing to remember is:
Question 6 ESOP is the acronym for:
Question 7 One advantage of buying an existing business is:
Question 8 The inventory in an existing business:
Question 9 An agreement between a business seller and the
buyer, in which the seller agrees not to open a competing business within a
specific time period and geographic area, is called a:
Question 10 Perhaps the ideal source of financing the
purchase of an existing business is:
Question 11 The biggest source for the best companies to buy
is:
Question 12 When it comes to buying an existing business, it
is not uncommon to find it:
Question 13 The valuation approach that considers the value
of goodwill is the:
Question 14 Which of the following is an intangible asset?
Question 15 When a buyer is reviewing a candidate company’s
lease arrangements, location and appearance, intangible assets, etc., he is
answering what basic acquisition question?
Question 16 The ________ highlights significant financial
and operational events in the company’s life and should concentrate on the company’s
accomplishments.
Question 17 The ________ expresses the entrepreneur’s vision
for the company and what he/she hopes it will become.
Question 18 The ________ acquaints lenders and investors
with the nature of the business and the general goals and objectives of the
company.
Question 19 The organization chart is described in which
section of the business plan?
Question 20 ________ are short-term, specific targets which
are attainable, measurable, and controllable.
Question 21 Potential investors tend to believe that if an
entrepreneur can’t develop a good plan:
Question 22 When creating financial forecasts in a business
plan for a proposed venture, an entrepreneur should:
Question 23 Business plans need to pass three tests:
Question 24 The second essential purpose for creating a
business plan is:
Question 25 The C of the five Cs that is a synonym for
“cash flow” is:
Question 26 The ________ is the first part of the business
plan. It summarizes all the relevant points of the deal, but it should be the
last part written.
Question 27 Any assets pledged to the bank as security for
repayment of the loan are the ________ of the five Cs.
Question 28 Proving that a profitable market exists
involves:
Question 29 The focus of the competitor analysis section of
the business plan is to:
Question 30 An explanation of how the product will be
distributed is contained within the:
Quiz 4
Question 1 ________ tell whether or not the small business
will be able to meet its maturing obligations as they come due.
Question 2 The ________ ratio is a conservative measure of a
firm’s liquidity and shows the extent to which a firm’s most liquid assets
cover its current liabilities.
Question 3 The break-even point occurs where:
Question 4 The most meaningful basis for comparing operating
ratios is:
Question 5 ________ is/are the value of the owner’s
investment in the business.
Question 6 The ________ shows what assets the business owns
and what claims creditors and owners have against those assets.
Question 7 As a general rule, financial analysts suggest
that a small business maintain a(n) ________ ratio of at least 2:1.
Question 8 When a company is forced into liquidation, owners
are most likely to incur a loss when selling:
Question 9 The ________ is built on the basic accounting
equation: Assets = Liabilities + Owner’s Equity.
Question 10 A technique that allows the small business owner
to perform financial analysis by understanding the relationship between two
accounting elements is called:
Question 11 The ________ ratio measures the small company’s
ability to generate sales in relation to its assets.
Question 12 ________ ratios measure the financing supplied
by business owners and that supplied by the firm’s creditors.
Question 13 ________ are those things that a business owns
which have value.
Question 14 What is the difference between price per unit
and variable cost per unit?
Question 15 The ________ ratio is a measure of the small
company’s ability to pay current debts from current assets.
Question 16 ________ companies are most likely to suffer
cash shortages.
Question 17 When forecasting cash disbursements in the cash
budget:
Question 18 Once the owner determines an adequate minimum
cash balance, what is the next step in creating a cash budget?
Question 19 ________ is simply the money owed the firm by
customers because they’ve purchased goods or services on credit.
Question 20 ________ typically lead(s) sales; ________
typically lag(s) sales.
Question 21 A bank account that technically never has funds
in it but is tied to another master account so that when checks are presented
for payment the master account is debited, permitting the company to use its
own money during the “float” period, is called a(n):
Question 22 The first step to building a workable credit
policy is:
Question 23 ________ is the money that moves through the
business in a continuous cycle.
Question 24 The budgeting strategy that evaluates the
necessity of every item on the budget each year by starting with a zero in each
budget category is called:
Question 25 A cash
budget is only as accurate as the ________ forecast from which it is derived.
Question 26 Efficient cash managers:
Question 27 An arrangement in which customers mail their
payments on account to a post office box which the company’s bank monitors,
from which it collects the payments, and then immediately deposits the payments
into the firm’s interest-bearing account is called a:
Question 28 Which of the following is an effective way to
trim overhead?
Question 29The “big three” of cash management
include:
Question 30 Generally speaking, most small business owners
tend to:
Quiz 5
Question 1 Companies connect with their customers ________
by supporting causes that are important to their customer base, taking
exceptional care of their customers, and making it fun and enjoyable to do
business with them.
Question 2 Studies show that customers want ________ from
businesses almost more than anything else.
Question 3 One “natural” advantage small
businesses have over large business, which can be a significant competitive
advantage, is:
Question 4 Most marketing experts contend that the greatest
marketing mistake small businesses make is:
Question 5 When it comes to gathering market research on
customers, most small companies tend to be:
Question 6 Small businesses can compete with larger rivals
with bigger budgets by employing unconventional, low-cost creative techniques
known as:
Question 7 To build an effective customer service program,
it is important to:
Question 8 One-to-one marketing is a marketing strategy
that:
Question 9 ________ puts the customer at the center of a
company’s thinking, planning, and action and shifts the focus from a product or
service to customers and their needs and wants
Question 10 The worst marketing catastrophe to befall any
business would be to:
Question 11 Time compression management (TCM) involves:
Question 12 The majority of customers who stop patronizing a
particular store do so because:
Question 13 ________ is the process of creating and
delivering desired goods and services to customers, and involves all of the
activities associated with winning and retaining loyal customers.
Question 14 The most common channel of distribution for
consumer goods is:
Question 15 Market research:
Question 16 In reality, advertising:
Question 17 Which of the following media account for the greatest
portion of advertising expenditures?
Question 18 The ________ cost of an advertising medium
compares the actual dollar cost of an ad with the number of potential customers
it reaches.
Question 19 ________ is the personal contact between
salespeople and potential customers that comes from sales efforts.
Question 20 The best color combination for an outdoor ad is:
Question 21 The choice of advertising medium is primarily
determined by:
Question 22 A recent study of top salespeople found that
they:
Question 23 Which advertising medium offers the greatest
ability to selectively target a specific audience?
Question 24 A
successful direct mail ad is characterized by:
Question 25 Under ________, a manufacturer splits the cost
of advertising with a small retailer if the retailer features its product.
Question 26 ________ is unsolicited commercial e-mail.
Question 27________ are an important advertising medium for
reaching customers who have already made the purchase decision and are looking
for the product or service.
Question 28 The most meaningful unique selling proposition:
Question 29 Effective ads are built on:
Question 30 Radio:
Quiz 6
Question 1 ________ tells what portion of the total revenues
remains after covering variable costs to contribute toward meeting fixed
expenses and earning a profit.
Question 2 A firm sells small-ticket items to their regular
customers on customer charge accounts and then bills the customers each month.
This type of credit arrangement is called:
Question 3 A variation of geographic pricing in which the
small company sells its merchandise to customers on the condition that they pay
all the shipping is called:
Question 4 ________ is a pricing strategy under which local
customers “subsidize” the shipping charges the firm incurs when
transporting merchandise to distant customers.
Question 5 ________ pricing s
