Module 2
External
Environment
Actions
for External Environment
Essentially the book infers that we must first isolate
our customer base and then look for how to create appropriable value relative
to competitors. At that point, we must assess the likelihood of
sustainability of that advantage. How does a small business do
this? How about an entrepreneurial firm?
Actions for Resource Base
In its simplest form, RBV says there are three basic
asset types, Human, Physical, and Organizational. How do they interact
with the four requirements for sustainability?
Mission/Vision
Actions
for Mission/Vision
Do you feel that the vision/mission of the firm are
revolutionary or evolutionary? Are they the basis of starting a firm, or
are they artifacts of what has worked?
Competitors
Actions
for Competitors
We tend to look at competitors in a static fashion.
How important is it to look at them in a dynamic fashion as we look at
potential competitive response?
Financial
Projections
Actions
for Financial Projections
We try to accurately portray our anticipated cash flows,
overall financial position, and income potential. Of these, which is it
best to be conservative on? Which should allow for some degree of
optimism?
Financial
Actions
for Financial
How are these financial projections tied to the prior
chapters?
Breakeven
Analysis
Actions
for Breakeven Analysis
We rarely hear the “sharks” discuss breakeven
in their talks. Do you believe this is because they are focused on
exorbitant profits, or is it simpy a “given” in their thought
process? Does this differ for small businesses versus entrepreneurial
firms
Module 3
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Critical
Path Chart
Actions
for Critical Path Chart
What other issues exist when putting together a “Critical
Path Chart”?
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Business
Location
Actions
for Business Location
Can you think of a business that failed primarily
because of location? Where do you think they could have located it and
been more successful?
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Internet
Actions
for Internet
To what degree has the internet changed the location
discussion? What particular contexts do you anticipate positive impact
on small businesses? Negative?
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Legitimacy
Actions
for Legitimacy
Putting yourself in the customers’ shoes, which of the
recommendations for establishing legitimacy are directly visible to
you? How many indirectly impact them and how?
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General
Environment
Actions
for General Environment
Assess the general environment today in terms of timing
of entry? Are all positive? Do you think they are ever in full
agreement?
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Factoring
as a Cash Flow Strategy
Actions
for Factoring as a Cash Flow Strategy
In what kind of business would you expect factoring to
be a positive way to address cash flow issues? What are some of the key
assumptions that must be true (but likely are not) in order for this strategy
to be successful?
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Data
Actions
for Data
Setting up an accounting program effectively can be key
to a company’s ability to obtain decisionable data. While course
grained data is often acceptable for regulatory issues, fine grained data is
better for decision-making. How would you set up a basic income
statement for a company that produces 4 products…2 of which are components
of the other 2, but are also sold as inputs for other firms/customers?
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Interrelationship
Actions
for Interrelationship
How does the material in this chapter relate to the
prior chapters?
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Problem
areas
Actions
for Problem areas
In which area/account would you expect the greatest
problem of ethical lapses? How would you control it?
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Human
Resource Asset
Actions
for Human Resource Asset
Small businesses and new businesses tend to have less
ability to pay market rates for skilled talent. How can they use other
methods to attract the best and brightest?
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Discrimination
Actions
for Discrimination
Suppose I want to hire a salesperson for my new
enterprise that sells “hip-hop” clothing and accessories. I
need to hire two salespeople and I have five applicants: 1 is an
african-american that actually plays in an amateur hip-hop group (has no
retail experience), 3 are middle age caucasion women whose resumes’ (15
years of retail experience each) imply they tend to be conservative, and the
final applicant has no retail experience and is a senior citizen
just wanting to find some supplemental income. Should I
discriminate?
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Health
Care Insurance Offering
Actions
for Health Care Insurance Offering
What implications does the current law have for my
decision to offer insurance or not?
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Family
Businesses
Actions
for Family Businesses
What recommendations would you have for the founder who
is the mother of 3 adult children (2 female, 1 male) who is trying to decide
how to best meet their needs as she prepares to leave the business in 10 years?
The business is a bridal boutique that incorporates all aspects of wedding
needs.
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Mixed
Promotions and Sponsorships
Actions
for Mixed Promotions and Sponsorships
What businesses would find this to be an essential
element of their overall promotion package? What businesses will not
need to be involved, but may well choose to for personal reasons?
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Promotions
Actions
for Promotions
What promotion package would you put together for a new
company about to enter the computer recycling industry in Johnson City?
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Finances
Actions
for Finances
If you were making recommendations for a small
restaurant, what types of non-financial data would you like to collect to
measure successfulness? What method would you use? How would you
address the success relative to competitors?
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