Phil's Dilemma
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School
Eastern Iowa Community College District *
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Course
110
Subject
Philosophy
Date
Feb 20, 2024
Type
docx
Pages
1
Uploaded by BailiffIceTurkey5
Phil’s Dilemma
Question 1) Why do you think Phil is thinking about business ownership after the success he has achieved working in other companies? Why do you think he wants to buy instead of start a business?
I think Phil is thinking about business ownership after the success he has achieved working in other companies for several reasons, which include a desire for autonomy and personal fulfillment. Phil may want more independence and decision-making power. Although he has been successful in his previous roles, working in a company may limit his decision-
making power and freedom. Having his own business would give him complete control over the direction of the business and the decision-making process. Phil may be looking for personal fulfillment and the sense of success that comes with starting his own business. He’s been successful in his previous jobs, but starting his own business gives him the chance to build something from scratch, build his legacy, and use his technical and leadership talents to their full potential.
I think Phil wants to buy instead of start a business because there are less risks and immediate income. The risk associated with buying an existing business is lower than starting a new one. An existing business already has a client base, a reputation, and operating systems in place. This eliminates some of the uncertainty and difficulties that come with starting your own business. Phil might prefer the lower risk associated with buying a well-established business with
a history of success. Also, Phil can start making money from day one by buying a business. The business he buys is already making money, which gives him instant cash flow and financial security. Question 2) What questions do you think Phil should ask of a seller if he finds a business that he likes?
Some questions I think Phil should ask of a seller if he finds a business that he likes include questions about the business’s financial performance, the seller’s reason for selling, the business’s operations and systems, and the business’s customer base and reputation.
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