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MindTap Introduction to Business for Pride/Hughes/Kapoor's Foundations of Business, 5th Edition, [Instant Access], 1 term (6 months)
5th Edition
ISBN: 9781305511538
Author: William M. Pride; Robert J. Hughes; Jack R. Kapoor
Publisher: Cengage Learning US
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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.
Expert Solution & Answer
Explanation of Solution
The steps to take in order to protect from business failure are as follows:
- Comprise adequate capital not simply to begin the business but rather to prop it up amid the constructing period.
- Get recommendations on administration abilities from experienced individuals in business.
- Wait to extend until the point that they have adequate capital and experience.
- Get guidance on stock control and credit granting practices.
- Examine the correct area for the business.
The proprietors of small business are regularly excessively impetuous and enthusiastic, making it impossible to begin. They proceed without giving careful consideration to arranging.
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James Shoe Emporium, a retail brick and mortar shoe store caters to the higher income market in your country. However, the establishment has been experiencing falling revenue since the August 2024. The owner of the company believes that marketing and selling his shoes via the internet might be the solution. He has hired you to formulate an emarketing plan to do so.
You have decided to use the following e-marketing strategies (content marketing, email marketing, mobile marketing, online advertising and social media engagement). Why?
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Chapter 5 Solutions
MindTap Introduction to Business for Pride/Hughes/Kapoor's Foundations of Business, 5th Edition, [Instant Access], 1 term (6 months)
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