Bundle: The Leadership Experience, Loose-Leaf Version, 7th + MindTap Management, 1 term (6 months) Printed Access Card
7th Edition
ISBN: 9781337370004
Author: DAFT, Richard L.
Publisher: South-Western College Pub
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What should you do after you have written your company's vision?
Select one:
a.
Get the highest-paying job you can find that will allow you to achieve your goals.
b.
Spend all your spare time working on yourself.
c.
Place your vision in a safe place and revisit it in 5 years.
d.
Commit to your vision by working hard and dedicating yourself to it.
If you have your own business, how would you consider that your business is in good direction towards your goals and objectives. Cite a dramatic scenario that will describe the word good direction.
So many people want to become their own boss. So they take the steps needed to become an Entrepreneur. Being an entrepreneur isn't just hard, it's really hard. Your days and nights, or more so your entire life, are dedicated to developing a business that you know in advance is highly likely to fail if it is not done properly. One of the biggest failures in a business adventure is planning.
The reality is 80 percent of new businesses crash and burn within the first 18 months, according to Bloomberg. I believe that, more often than not, failures come as the result of people not being set up or prepared to leave behind stability for chaos.
In this assignment, you will identify ways to properly plan and develop a strong strategy for a business to flourish.
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Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, leadership and related others by exploring similar questions and additional content below.Similar questions
- 1- Entrepreneurs must set goals that are Specific, Masked, Actionable, Reasonable, Tacy Specific, Masked, Actionable, Reasonable, Time bound Special, Metered, Actionable, Reasonable, Timely Specific, Measurable, Actionable, Relevant, Time-bound 2- According to Mark Cuban, the #1 reason why entrepreneurs fail is Lack of money, lack of energy Lack of brain, lack of hard work Lack of family and professional connections Lack of good idea 3- Starting a new business guarantees freedom True False 4- Who is an intrapreneur? People who are responsible for internal activity in an entrepreneurial venture people who independantly set up big organizations people who take up entrepreneurial activity as part of a bigger organization 5- Successful entrepreneurs have following qualities They are highly emotional None of the above They care too much for self-respect They are very creativearrow_forwardWriting a business plan is your map to how you are going to operate. Regardless of whether you are interested in taking over an existing business or starting a new one; they both have challenges that you will need to overcome in order to succeed. Discuss one of the challenges in starting a new business and how you may be able to address that challenge with a well-designed business plan. Your challenge can be unique to either a start-up or on-going business or both.arrow_forwardThe three important reasons why a person would choose to be an entrepreneur instead of an employee can be highlighted through the following points: Step 2 Sense of Accomplishment: People who are more self-driven and have a deep sense of achievement and desire for self-accomplishment are never satisfied with a mediocre life which employment brings and they rather want to speed up the process of their growth and development so they are more motivated to start something of their own which can bring them prosperity, status, power, and recognition. They don't want to have a boss: The people tend to show more inclination towards leading than to be ruled. They have leadership skills and want to do work their way. They don't do well with regulations, rules, and policies that working as an employee brings and want to rather work independently. People prefer being an entrepreneur to avoid authority and restrictions laid down on them by bosses so they would avoid being an employee. They have…arrow_forward
- What questions do you normally ask to have a successful career? Explain.arrow_forward1. Could writing a conventional business plan ever cause more harm than good? Explain your answer?2. If you wanted some assistance in setting up and running a new business, you might look at business incubators as a solution. What kind of assistance would you consider the most valuable?3. Given the risks involved in starting any company, should an aspiring entrepreneur investigate all possible failure scenarios and develop action plans to avoid these potential outcomes? Explain your answer.4. How do autocratic, democratic, and laissez-faire leadership styles differ?5. Ethical considerations. Apart from meeting the company’s future talent needs, do managers have a personal ethical obligation to help their employees develop and advance in their careers? Explain your answer.6. What are the advantages and disadvantages of the unstructured organizational model?7. Suppose you are the marketing manager of the credit-card department of a financial institution. Your objective is to support the…arrow_forwardhow do you think a company can help you achieve your goalsarrow_forward
- compose one paragraph to the question: Is it appropriate to exaggerate within your business plan (the idea, numbers, plans)? Be sure to support your arguments and cite your sources.arrow_forwardhow Business Intelligence (BI) knowledge can help you in your professional career?arrow_forwardmagine that you have just accepted a leadership position with a medical imaging equipment company. The organization's financial performance has been worsening and its market share slipping, which is why the company hired you to come in and make some changes. You have been given the authority to do whatever you need to do to improve the company's performance. After collecting a lot of information and speaking with a wide variety of employees, you have determined that the biggest cause of the company's underperformance is that its culture is too complex and consensus-oriented, which makes decision making too slow. The first thing you decide to do is to change the culture. What type of culture do you want to adopt? How will you change the culture? What will you do to reinforce the changes you suggest (e.g., staffing, rewards, performance feedback)?arrow_forward
- As would-be Entrepreneur, you are tasked to write down at least 3 career opportunities which attract you most. Indicate what competencies you need to enhance in order to become successful in these opportunities. Write your answer in the space provided.arrow_forwardIf you were one of the founders, how would you prioritize how you spent your time in the first weeks on the job after getting the venture capital funding?arrow_forwardChoose a challenge in starting a new business and how you may be able to address that challenge with a well-designed business plan. Challenge can be unique to either a start-up or on-going business or both.arrow_forward
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