answersLogoWhite

0

🏢

Small Business and Entrepreneurship

Small businesses are usually family- and privately-owned establishments with a limited number of employees. Starting a small business is a form of entrepreneurship. It is like turning a ‘problem’ into a ‘profit’ or a ‘need’ into a ‘demand’.

6,973 Questions

Why is it a good idea to act ethically in business?

Ethics plays an important role in business.it is because ethics create the image. If u cant deal with customers honestly,that means u r detoriating ur image.

>>Ethics were thrown out the window in the incident in the Del Rey Oaks Safeway, where a meat cleark stopped a man from beating his pregnant wife/girlfried IN THE STORE! Afterward the employee (a good hearted Black man) was put on leave without pay by the Safeway store manager. Seems to me, the manager is the unethical one.

How do you make sure your business plan works?

Since you include an action plan in the business plan that contains metrics (like profit, expansion, list of products/services and similar), going over these after some time, you can evaluate if the planning is being successful or not.

Why have small business and not-for-profits been slow to adopt quality initiatives?

Small business and not-for-profit organizations focus on sales and marketing more. There is a lack of understanding and knowledge when it comes to quality initiatives.

What does ambigious?

It means unclear as to meaning. A statement which is ambiguous can be misconstrued to mean more than one thing.

When is a business plan used?

  • starting a business - provide the overview, mission and projections
  • remaking a business - provide a plan to evaluate progress and find things to change
  • looking for funds - provide information about the viability of an investment

What problem would you face if you were the manager in the foreign country?

You definitely need to adjust to the culture and the language of the country you work in. Traditions in business dealings and behavior are very important, because what is considered a good sign in one country, can offend in another. People also have different mindsets in various parts of the world, so you have to adjust to that to be able to work efficiently with your team.

What is the role of mission statement in strategic planning process?

Mission statement is play an important role in strategic planning through this the managers take decisions and can future forecasting.

Can you as a small business owner report a non paying customer to a credit bureau and if so what is required?

You have not stated where your business is.

Different States, Provinces and Countries have different rules.

In General:
  1. You must be able to prove the debt as valid, if you report and can't prove the debt you will be in legal trouble.
  2. Call the credit reporting agency, they will help you with how to report.
  3. If you need to figure out who to call ask your bank. They will have the #.

What risks did Alan sugar take?

Alan sugar took no risks he just started up a business

How much money will you need to get started to open a childrens party supply store?

10,000

Actually, if you create a comprehensive 3 or 5 year cash flow statement, you'll arrive at the more accurate answer.

How can a sole proprietor expand his or her business?

There are a number of ways a sole proprietary can be expanded. First, a sole proprietor can opt to change the legal structure of their business, to an LLC or S-corp, for example. A change of this nature essentially adds partners and outside investors. The access to additional funds and greater resources enables the business to provide an expanded selection of products/goods or hire employees to help provide services or produce products/goods.

If a sole proprietor chooses, he or she can keep the business structure as-is and expand into other markets, offer an expanded array or products or services or even seek out mutually beneficial partnerships for cooperative business endeavors. The key is to keep things manageable and growing.

What is the term used when a public sector business is bought by a private individual?

When a Public Sector Enterprise (majority share owned by government) is taken over by a private individual or private organization, it is called 'Divestment'. In fact, Private Companies do not 'buy out' public sector companies. They can do so only if a government decides to 'divest' its stake and raise some funds out of it. Generally, governments decide to divest if: a) It cannot run a business successfully, b) It needs to generate funds for other social causes.

Is starting an errand business a good idea?

It depends upon who you have defined as your customers and where you live. Who are you going to market too? Will this business be your sole source of income.

What are the concepts of entrepreneurship?

the idea of enterpreniurship is that,the low icome erner should be able to start a business with litel capital.and this concept also enhance the economic developement and groath of a particuler nation.

How is a marketing plan different from a business plan?

Marketing plan is a subsection of a business plan and it contains the strategy, research and any other information relevant to marketing. A business plan is a complete overview of a business that includes the mission, values, products/services, financials, marketing, action plan and any other measures that can help evaluating th success of the business as a whole.

What is most likely to be a disadvantage of increasing your market share?

Increasing your market share is likely to invite competition - you may invite competition. hehehe K12 LOL

Where can you find a small business loan?

There are many sources, including:

1. Yourself, i.e., your credit cards.

2. Friends and family.

3. Credit unions.

4. Banks.

How much is Corporate Group's David Carter worth?

It is unknown exactly how much 19-year-old David Carter, founder of Corporate Group, is worth.

A look at their site shows some impressive clients, and press articles indicate a turnover of £1.2 Million. He is reported to own the company 100% if that's correct he could possibly be worth millions.