Principles of Management
OER 2019 Edition
ISBN: 9780998625768
Author: OpenStax
Publisher: OpenStax College
expand_more
expand_more
format_list_bulleted
Textbook Question
Chapter 7, Problem 2CTQ
How did their Ahmed and Steven Case’s
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
please answer all the questions:
1- Define:
A- Sole Proprietorship.B- Partnership.C- Corporation
2-Describe 4 Advantages and 4 Disadvantages of each of these forms of Business.
Compare and contrast the various types of business ownership and the advantages/disadvantages of each. TWO paragraphs.
1. Ask yourself and list down what qualities do you want from a business partners, and then identify people who have these qualities to be a partner for a small business project.
2. Answer the following:
What market - product can be converted into business opportunity?
What role will each of the partners play (who to do buying, who to do marketing, who to do selling, who to do delivery, etc.)?
Who among you shall be the head of the partnership? Why?
How will profit be split?
What are sales goals weekly for the next four weeks?
3. Who among the successful entrepreneurs you know can be your mentor? Why?
Chapter 7 Solutions
Principles of Management
Ch. 7.1 - What do you think enabled Jack Bonneau to start...Ch. 7.1 - What personal characteristics and values will Jack...Ch. 7.1 - Describe several types of entrepreneurs.Ch. 7.1 - What differentiates an entrepreneur from a...Ch. 7.1 - What are some major factors that motivate...Ch. 7.2 - What type of entrepreneur is Apollonia PoilĂ¢ne?Ch. 7.2 - What personal ethics drove Apollonias decision to...Ch. 7.2 - Describe the personality traits and skills...Ch. 7.2 - What does it mean when we say that an entrepreneur...Ch. 7.3 - What are three ways small businesses can be...
Ch. 7.3 - What social and economic factors have prompted the...Ch. 7.4 - How can potential business owners find new...Ch. 7.4 - Why is it important to develop a business plan?...Ch. 7.4 - What financing options do small-business owners...Ch. 7.5 - What led MailChimps founders to change its focus...Ch. 7.5 - What was MailChimps big idea that changed the...Ch. 7.5 - How does the small-business owners role change...Ch. 7.5 - How does managing a small business contribute to...Ch. 7.5 - What are the benefits to small firms of doing...Ch. 7.6 - Why are small businesses becoming so popular?Ch. 7.6 - Discuss the major advantages and disadvantages of...Ch. 7.7 - What is the Small Business Administration (SBA)?Ch. 7.7 - Describe the financial and management assistance...Ch. 7.8 - What significant trends are occurring in the...Ch. 7.8 - How is entrepreneurial diversity impacting small...Ch. 7.8 - How do ethics impact decision-making with...Ch. 7 - What are the differences between classic,...Ch. 7 - What differentiates an entrepreneur from a...Ch. 7 - What are some major factors that motivate...Ch. 7 - How can potential business owners find new...Ch. 7 - Why is it important to develop a business plan?...Ch. 7 - What financing options do small-business owners...Ch. 7 - How do the small-business owners and entrepreneurs...Ch. 7 - What are the benefits to small firms of doing...Ch. 7 - Describe the financial and management assistance...Ch. 7 - What significant trends are occurring in the...Ch. 7 - How is entrepreneurial diversity impacting small...Ch. 7 - How do ethics impact decision-making with...Ch. 7 - What characteristics made Vic Ahmed a successful...Ch. 7 - How did their Ahmed and Steven Cases partnership...Ch. 7 - Is focusing on smaller cities rather than areas...
Additional Business Textbook Solutions
Find more solutions based on key concepts
Discussion Questions 1. What characteristics of the product or manufacturing process would lead a company to us...
Managerial Accounting (5th Edition)
S4–14 Calculating the current ratio
Learning Objective 6
End of Line Montana Registration has these account b...
Horngren's Accounting (12th Edition)
Ravenna Candles recently purchased candleholders for resale in its shops. Which of the following costs would be...
Financial Accounting (12th Edition) (What's New in Accounting)
Which type of adjustment occurs when cash is either collected or paid, but the related income or expense is not...
Principles of Accounting Volume 1
Journal entries, T-accounts, and source documents. Visual Company produces gadgets for the coveted small applia...
Horngren's Cost Accounting: A Managerial Emphasis (16th Edition)
Define cost pool, cost tracing, cost allocation, and cost-allocation base.
Cost Accounting (15th Edition)
Knowledge Booster
Similar questions
- What characteristics made Vic Ahmed a successful entrepreneurs?arrow_forwardSiblings, Julie and Derek want to start their own clothing line. They have each invested $5,000. They have decided that Julie is better with money and will manage the business’s finances. Derek is the creative sibling and will be designing the apparel. what are the risks? what business entity would you form and why?arrow_forwardmpany History and Profile Both Ito-Yokado and Seven-Eleven Japan were founded by Mr. Masatoshi Ito. He started his retail empire after the Second World War when he joined his mother and elder brother and began work in a small clothing store in Tokyo. By 1960, he was in sole control and the single store had grown into a $3 million company. After a trip to the United States in 1961, Ito became convinced that superstores were the wave of the future. At that time, Japan was still dominated by Mom- and-Pop stores. Ito’s chain of superstores in the Tokyo area was instantly popular and soon constituted the core of Ito-Yokado’s retail operations. In 1972, Ito first approached the Southland Corporation about the possibility of opening Seven-Eleven convenience stores in Japan. After rejecting his initial request, Southland agreed in 1973 to a licensing agreement. In exchange for 0.6 percent of total sales, Southland gave Ito exclusive rights throughout Japan. In May 1974, the first Seven-Eleven…arrow_forward
- 1. The family ran the business peacefully for 50 years. What are the contributing factors? and how do you think they’ll challenge each other?arrow_forwardMr. Imran and Mr. Salim are business partners. They often argue and disagree with each other when it comes to handling their business. Continuous conflict and differences in opinions among owners in a business could lead to which of the following? Business might become diversified Business might merge with another company Business might not continue Business might have more profitsarrow_forwardIf George were going to make his business venture unique, what steps might he take?arrow_forward
- Explain the main type of business organization: 1- Sole proprietorship. 2- Partnership. 3- corporation.arrow_forwardExplain the goal of shareholder wealth maximization, and whether this goal is a short-term goal or a long-term goal. Identify the conflict between the goal of shareholder wealth maximization and other stakeholder concerns (sometimes referred to as environmental, social, and governance (ESG) concerns). Cite one real-world example of a company that reflects other stakeholder concerns in its mission statement or stated corporate values. Explain, for your chosen real-world example, how the company’s incorporation of stakeholder concerns could enhance (or detract from) the company’s shareholder wealth maximization goal. Construct one question related to shareholder wealth maximization goals.arrow_forward1. Setting Up a Business Your friend, Olivia Graves, is going to start her own chocolate shop, called Chocolate-By-Design. Olivia is an expert candy maker and one of the city's top pastry chefs. Olivia has come to you for advice on what type of business Chocolate-By-Design should be-a sole proprietorship, partner- ship, or corporation. Create a report comparing the three different types of businesses, along with your recommendation for Chocolate-By-Design's business structure.arrow_forward
- (1) Would you consider entering into a businesspartnership with your best friend? Why or why not? (2)Now turn the question around: Would your best friendconsider having you as a business partner?arrow_forwardProvide the company name of the following and explain how did their business succeeded. 1. Mark Zuckerberg 2. Dustin Moskovitz 3. Chris Hughes 4. Andrew Houston 5. Nathan Blecharzyk 6. Kevin Systrom 7. Arash Ferdowsi 8. Evan Spiegel 9. Bobby Murphy 10. David Karparrow_forwardWhat are the external factors that can influence Dove's business?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Management, Loose-Leaf VersionManagementISBN:9781305969308Author:Richard L. DaftPublisher:South-Western College Pub
Management, Loose-Leaf Version
Management
ISBN:9781305969308
Author:Richard L. Daft
Publisher:South-Western College Pub