In a family business, the business's goal is to a. create value for customers. b. emphasize competition, flexibility, and unity. c. create value for family members. d. emphasize stability, diversity, and flexibility.
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- 1. Identify the different sources of business opportunities. Cite an example for each sources of business opportunities that will meet the needs of the market.Match each business model type with the correct description. Remember to select a different business model type for each description. Business model type Product business model Multisided business model Solution business model Matchmaking business model Description A company controls a platform where sellers and buyers exchange products or services. A product or service is designed according to specifics defined by each customer. A product or service is offered to customers. A company provides different products and services to different groups of clients who gain some benefit from the existence of the other group of clients.Mission statement should be: Select one: a. product-oriented b. market-oriented c. technology-oriented d. goods-oriented e. organization-oriented
- . A. How would you identify the target markets?B. How would you segment the market? State and discuss minimum two (2) ways youwould segment the market as an entrepreneur as discussed in the course.Why does a company needs financial objectives? A) to convince shareholders that top management is acting in their interests. B) because without adequate profitability and financial strength, the company's ultimate survival is jeopardized. C) to indicate to employees that financial objectives always take precedence over strategic objectives. D) to translate the company's business model into action items. E) to overtake key competitors on such important measures as net profit margins and return on investment.A major reason for developing a business mission statement is to attract customers who give meaning to an organization. True or false?
- Their board of directors in 2014 was delighted with their cash flow and profits. However, they were concerned about future growth because of changing diets of many consumers who had become more concerned about consuming milk-based products. The company had already added low-fat versions of the major products but the board members were concerned that this would not be sufficient to sustain their growth and profits. Some possibilities that were suggested for consideration included (1) setting up a new company to produce non-dairy-based products such as almond milk and other alternatives to cow milk. All the new products would have a healthy “spin” such as the White Wave company; (2) market expansion of their existing product lines into Mexico and Central America; (3) expanding their current product offerings by adding ice cream, high-end cheeses made from goat and sheep milk, and high-end milk-based candy; and (4) a combination of one or more of these alternatives. 1. Evaluate all…Develop a scenario where you are planning to start your own business.Type of business▪ Size of the business▪ Location of the business▪ Any other markets in which it will operate▪ Examples of products and services▪ Key competitors▪ Main customer segments/target marketsThe business type that was given to Lee, was a bakery. She would sell items at her bakery in her area. Need help to answer parts 4 through 6.
- As part of an organisation that promotes women entrepreneurship, please assist with writing abusiness plan for a group of women who wants to establish a Fitness Centre for women. Write out a businessplan for them that encompasses the following:- Details of the Enterprise- Executive Summary- Mission and Objectives- Business Information/description- Personnel and Organisation- Market information (Limit to location, target customers, strengths and weakness of the enterprise). thanks,Discuss five businesses, your list could include bars, restaurants, a specific cruise, hotel, health club, etc. Describe the target market of the businesses. Most of your analysis would consist of demographic variables. Incorporate geographic, psychographic, and behavioristic variables.36)include internal capabilities, resources, and positive situational factors that may help the company serve its customers and achieve its objectives. Select one: a. Opportunities. b. Strengths. c. Weaknesses. d. Threats.