Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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Chapter 5.5, Problem 5.5BQ
Summary Introduction
To determine: The reason to appeal for franchise business.
Introduction:
When the right to use the name of a specific business is given somebody to sell the goods and services under the name in a particular territory, it is known as franchise.
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Ethical Considerations. You’re thinking about startingyour own chain of upscale, drive-through espressostands. You have several ideal sites in mind, and you’veanalyzed the industry and all the important statistics. Youhave financial backing, and you really understand thecoffee market. In fact, you’ve become a regular at acompetitor’s operation for over a month. The ownerthinks you’re his best customer. But you’re not therebecause you love the espresso. No, you’re actually spying.You’re learning everything you can about the competition so you can outsmart them. Is this behavior ethical?Explain your answer.
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Chapter 5 Solutions
Understanding Business
Ch. 5.1 - Prob. 5.1AQCh. 5.1 - Prob. 5.1BQCh. 5.1 - Prob. 1TPCh. 5.1 - Prob. 2TPCh. 5.2 - Prob. 5.2AQCh. 5.2 - Prob. 1MEDCh. 5.2 - Prob. 3TPCh. 5.2 - Prob. 4TPCh. 5.3 - Prob. 5.3AQCh. 5.3 - Prob. 5TP
Ch. 5.3 - Prob. 6TPCh. 5.3 - Prob. 7TPCh. 5.3 - Prob. 8TPCh. 5.4 - Prob. 5.4AQCh. 5.5 - Prob. 5.5AQCh. 5.5 - Prob. 5.5BQCh. 5.5 - Prob. 5.5CQCh. 5.6 - Prob. 9TPCh. 5.6 - Prob. 10TPCh. 5.6 - Prob. 11TPCh. 5 - Prob. 1CECh. 5 - Prob. 2CECh. 5 - Prob. 3CECh. 5 - Prob. 4CECh. 5 - Prob. 1CTCh. 5 - Prob. 2CTCh. 5 - Prob. 3CTCh. 5 - Prob. 4CTCh. 5 - Prob. 1DCSCh. 5 - Prob. 2DCSCh. 5 - Prob. 3DCSCh. 5 - Prob. 4DCSCh. 5 - Prob. 5DCSCh. 5 - Prob. 1PPTCh. 5 - Prob. 2PPTCh. 5 - Prob. 1VCCh. 5 - Prob. 2VCCh. 5 - Prob. 3VC
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- How does an entrepreneur develop a new mission for a franchise?arrow_forwardWhy was Andrew Houston, the creator of Dropbox, a unique entrepreneur?arrow_forwardAnswer the following briefly. Cite examples if necessary. Define entrepreneurship Identify the characteristics of successful entrepreneurs Identify the critical components of an effective business plan Discuss the competitive forces that determine industry profitability Articulate a new venture’s business model Explain the business planning process Describe how to create strong ethical culture in an entrepreneurial venturearrow_forward
- One of the most successful business models is the franchise, but it didn't originate with McDonald's. Sir Harold Evans describes the remarkable story of a beauty salon that allowed hundreds of women to own their own businesses. here's the link https://www.youtube.com/watch?v=Ie8qJuXYN7w&t=5s 1. The expansion of Martha Harper’s franchising idea today drives half of all retail sales in America. This means one woman has had a really remarkable effect on America’s economy. So why is she relatively unknown? How did Harper provide a distinctive experience for her customers, franchise owners, and employees? What are her other legacies, in addition to her franchising idea? Martha Harper was sent away at age seven by her father to work as a domestic servant, her profession for 25 years until she saved enough money to start her own business. Can you think of another entrepreneur or public figure with a similar rags-to-riches story? Describe with at least 1 reference in APA style.…arrow_forward1-An introduction to the successful entrepreneur 2-How to be a successful businessman 3-Conclusion for the entrepreneurarrow_forwardcritically discuss with examples the advantages with explanation of BUYING a franchise.arrow_forward
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