UNDERSTANDING BUSINESS W/ACCESS
13th Edition
ISBN: 9781266514548
Author: Nickels
Publisher: MCG
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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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Can you provide an example of how the internet has helped to improve a certain aspect of business? Have an example handy, and how would you rate its commercial viability?
Chapter 5 Solutions
UNDERSTANDING BUSINESS W/ACCESS
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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- Think about your own community (your hometown or High Point). Choose a type of business. Are similar types of businesses clustered together? Are there any outliers? What are the most popular spots and are they surrounded by similar businesses? Type your thoughtful response belowarrow_forwardThere are four popular types of franchising, one of which is Multiple Choice service-sponsored franchise systems. contractual-sponsored franchise systems. customer-oriented franchise systems. horizontal-marketing franchise systems. government-sponsored franchise systems.arrow_forwardBeing an entrepreneur means you are acquiring certain skills and abilities. Briefly describe the meaning of entrepreneur and any 4 different skills an entrepreneur must has to be successful?arrow_forward
- 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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