Answered: competitive advantage your friend could…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Your best friend from high school has just texted you with his great new idea. He is going to begin a yard care business starting this October and he wants to hire you part-time to work for him. Your best friend knows little about running a business and also little about yard work, except what he has learned from doing yard work for his parents. Since you are currently taking a small business class, you know there are some questions your friend needs to consider.

What could be a competitive advantage your friend could bring to his business, taking into consideration there are already many successful yard care businesses in the area?
In order of importance, rank three reasons why your friend may be excited to have his own small business.
In order of importance, rank three challenges your friend will need to overcome in order for his small business to succeed.

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