Foundations of Business - Standalone book (MindTap Course List)
4th Edition
ISBN: 9781285193946
Author: William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher: Cengage Learning
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Chapter 5, Problem 1DQ
Summary Introduction
To determine: The steps to take in order to protect from business failure.
Introduction: A small business administration is an autonomous organization of the United States government that secures the interests of independent or small business ventures and guarantees that they get a decent amount of government contracts.
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WHO WILL BENEFIT FROM A WELL-WRITTEN BUSINESS PLAN?
Why does the business go bankrupt? What do you think are the main reasons for the failure of many businesses, especially micro and small-scale enterprises? What can be done to keep small businesses viable and to increase their chances of growing bigger and stronger?
Describe some of the reasons why entrepreneurs and small businesses fail?
Chapter 5 Solutions
Foundations of Business - Standalone book (MindTap Course List)
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- Considering the various types of business entities, how would you convince a company’s founder that becoming a B corporation or a public benefit corporation is a better way to do business? Provide some examples of companies that have chosen this type of corporate entity. Additionally, discuss how you think that becoming a B Corporation or a public benefit corporation can help address social and environmental problems while still attracting consumers and investors?arrow_forwardWhich is more advantageous between capital intensive businesses and labor intensive businesses? Answer straight forward.arrow_forwardStarting up and managing a business requires one to act responsibly and ethically at all times. It is also imperative that one carefully considers the management team and the opportunities that franchising presents to a business to create a bigger brand name and increased market share You may consider franchising your business at some point. Discuss with justification, the type and model of franchise that your business will enter into.arrow_forward
- How can you ensure that your business complies with tax laws and regulations? What are the potential consequences of failing to pay taxes or filing inaccurate tax returns?arrow_forwardWhich business model work the best to commercialise a social start-up?arrow_forwardLarger or established businesses tend to leave gaps in the market for numerous reasons. Once these gaps (however small) are left open, it makes it very easy for smaller ventures to spot the opportunity and make the most of it. Spinelli and Adams (2016) state that a good opportunity may sometimes not look too attractive at first but has the potential to blossom into one that is bigger than the venture itself, even after the venture has grown to a substantial size.In light of the abstract discuss and explain those gaps that business tend to leave in the marketplace, provide the possible reasons for these businesses to leave the gaps.arrow_forward
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