OER 2019 Edition

ISBN: 9781947172715

Author: OpenStax

Publisher: OpenStax College

Concept explainers

To create a startup company around a licensed university technology is referred to as venture development. A venture development firm can assist entrepreneurs in identifying and developing a prospective commercialization strategy, be an incubator, test t…

Textbook Question

Chapter 19, Problem 5CRQ

Why is it important to develop a business plan? What should such a plan include?

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Chapter 19, Problem 4CRQ

Chapter 19, Problem 6CRQ

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Considering contemporary challenges in business, analyze a real-world case where a company successfully navigated a major shift in its marketing strategy to adapt to changing market dynamics. Discussion Question and Prompt: Identify the key factors that contributed to the success of their marketing strategy in the face of contemporary issues. How can businesses draw insights from this case to inform their own marketing strategies amid current business challenges?

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1) View the video Service Processing at BuyCostumes (10.41 minutes, Ctrl+Click on the link); what are your key takeaways (tie to one or more of the topics discussed in Chapter 3) after watching this video. (viddler.com/embed/a6b7054c) Note: As a rough guideline, please try to keep the written submission to one or two paragraphs. 2) Orkhon Foods makes hand-held pies (among other products). The firm’s weekly sales of hand-held pies over the past seven weeks are given in the table. The firm’s operations manager, Amarjargal, wants to forecast sales for week 8. Weeks Sales of hand-held pies(000s) 1 19 2 18 3 17 4 20 5 18 6 22 7 20 Forecast the week 8 sales using the following approaches: a) Naïve approach b) 5-month moving average c) 3-month weighted moving average using the following weights: 0.50 for week 7, 0.30 for week 6, and 0.20 for week 5. d) Exponential smoothing using a smoothing constant of 0.30, assume a…

Chapter 19 Solutions

Organizational Behavior

Ch. 19.1 - What are some different types of entrepreneurs?Ch. 19.1 - How does entrepreneurship differ across countries?Ch. 19.2 - Describe the personality traits and skills...Ch. 19.2 - What does it mean when we say that an entrepreneur...Ch. 19.3 - What are the key components of the business model...Ch. 19.3 - What are the advantages and disadvantages of being...Ch. 19.4 - What sources of capital are available to...Ch. 19.4 - What are the associated risks for various sources...Ch. 19.5 - What is design thinking?Ch. 19.5 - What are some advantages of design thinking?

Ch. 19.6 - How can governments reduce barriers to...Ch. 19.6 - How can governments increase positive incentives...Ch. 19 - What are the differences between classic...Ch. 19 - What differentiates an entrepreneur from a...Ch. 19 - What are some major factors that motivate...Ch. 19 - How can potential business owners find new...Ch. 19 - Why is it important to develop a business plan?...Ch. 19 - What financing options do small-business owners...Ch. 19 - How do the small-business owners and entrepreneurs...Ch. 19 - What are the benefits to small firms of doing...Ch. 19 - Describe the financial and management assistance...Ch. 19 - What significant trends are occurring in the...Ch. 19 - How is entrepreneurial diversity impacting small...Ch. 19 - How do ethics impact decision-making with...

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