Read and Study chapter 5 and answer the following questions in at least
two paragraphs:
1. What are the three situations in which it might make more sense to go into
business part-time rather than full time?
2. How would us multichannel marketing to promote your part-time
businesses? If you had to use one of the non-free approaches, which would
you choose?
3. What is the difference between party and door to door retailing?
4. It is possible to sell products on eBay without having an online store?
What would be the advantages and disadvantages of doing so?
Read and study chapter 6 and answer the following questions in at
least two paragraphs:
1. If you were able to enter into a business that you desired, what things
would look for in the business?
2. Supposed you developed an idea for a new business service. You have
limited capital and you do not want to drop out of college. How might you
successfully start up a new business using your idea?
3. Supposed you have arranged enough capital so that you could either buy
into an existing Outback Steak House or could start your own independent
steak house restaurant. What are the advantages and disadvantages of each
alternative? which would you prefer and why?
4. What is the best way to get into business ? Why do you think so?
Read and study chapter 7 and answer the following questions in at
least two Paragraphs:
1. The book asserts that ” All strategies start with the owner ” Many gurus of
strategy say the strategy starts with the environment outside the firm. Which
do you think is true? Be ready to back it up.
2. What are the differences between innovative and imitative strategies?
Which is more likely to be something a small business can pursue?
3. What the competitive advantage of a business, and how does it lead to
success?
4. Think of the life cycle of an industry. Give examples of industries that are
at different stages, and explain your classification.
Read and study chapter 8 and answer the following questions in at
least two paragraphs:
1. What are the reasons for a business plan?
2. What are the differences in a business plan for a start-up pizza
business and for an existing pizza business?
3. What is the most important part of a business plan in general?
Considering the way you plan to use your business plan, what will
be the most important part of it?
4. What can you do to the business plan easy to read and
understand?