Understanding Business
11th Edition
ISBN: 9780078023163
Author: William G Nickels, James McHugh, Susan McHugh
Publisher: McGraw-Hill Education
expand_more
expand_more
format_list_bulleted
Question
Chapter 6, Problem 2CT
Summary Introduction
To think critically about: The similarities between the characteristics demanded of an entrepreneur and those of a professional athlete and the importance of teamwork in an entrepreneurial effort.
Introduction:
The person who risks time and money to start and manage a business is known as an entrepreneur.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Why do you think there is so much variation in how companies handle global training and development for their employees?
Some firms adopt what is called an ethnocentric staffing model. Firms that use this model primarily use parent-country nationals (PCNs) to staff higher-level foreign positions. This strategy is based on the assumption that home-office perspectives and issues should take precedence over local perspectives and issues and that PCNs will be more effective in representing the views of the home office in the foreign operation
Other international businesses adopt what is called a polycentric staffing model that calls for a much heavier use of host-country nationals (HCNs) from top to bottom throughout the organization. Thus, polycentric staffing is used with the assumption that such individuals (i.e., HCNs) are better equipped to deal with local market conditions. Organizations using this approach usually have a fully functioning HR department in each foreign subsidiary…
What are some contingency plans or actions that could have been taken by the Dubai man-made islands project managers to limit the impact of this possible risk event and other such related events the projects faced? Please list in PowerPoint for
Discuss the attributes of good information.
Chapter 6 Solutions
Understanding Business
Ch. 6.1 - Prob. 6.1AQCh. 6.1 - Prob. 6.1BQCh. 6.1 - Prob. 6.1CQCh. 6.1 - Prob. 6.1DQCh. 6.1 - Prob. 6.1EQCh. 6.1 - Prob. 1TPCh. 6.1 - Prob. 2TPCh. 6.1 - Prob. 3TPCh. 6.1 - Prob. 4TPCh. 6.2 - Prob. 6.2AQ
Ch. 6.3 - Prob. 1MEDCh. 6.4 - Prob. 6.4AQCh. 6.4 - Prob. 6.4BQCh. 6.4 - Prob. 5TPCh. 6.5 - Prob. 6TPCh. 6.5 - Prob. 7TPCh. 6 - Prob. 1CTCh. 6 - Prob. 2CTCh. 6 - Prob. 3CTCh. 6 - Prob. 1DWSCh. 6 - Prob. 2DWSCh. 6 - Prob. 3DWSCh. 6 - Prob. 4DWSCh. 6 - Prob. 5DWSCh. 6 - Prob. 1TITCh. 6 - Prob. 2TITCh. 6 - Prob. 1VCCh. 6 - Prob. 2VCCh. 6 - Prob. 3VC
Knowledge Booster
Similar questions
- What quality management components should be considered for a project such as the Dubai man-made islands? Explain your position In a PowerPoint forarrow_forwardFor a small local Caribbean based company selling pepper sauces, seasonings looking to expand its operations to the us market provide details for the expansion plan proposal. Explain why international expansion is a good strategy for the company. International Business Environment Conduct a detailed SWOT analysis for the potential country of expansion (THREE points per category. These should be written in complete sentences). Evaluate key cultural factors that may impact business operations in the target market. Use Hofstede's six cultural dimensions to assess how cultural differences might affect the company's success in expanding internationally. Market Entry Strategy Discuss the different market entry modes, giving an example of each. Recommend the best one for the company based on its resources and goals. International Business Strategies Discuss the key international business strategies that could help the company succeed internationally. You are to recommend the best…arrow_forwardFor a small local Caribbean based company selling pepper sauces, seasonings looking to expand its operations to the us market provide details for the expansion plan proposal. Explain why international expansion is a good strategy for the company. International Business Environment Conduct a detailed SWOT analysis for the potential country of expansion (THREE points per category. These should be written in complete sentences). Evaluate key cultural factors that may impact business operations in the target market. Use Hofstede's six cultural dimensions to assess how cultural differences might affect the company's success in expanding internationally. Market Entry Strategy Discuss the different market entry modes, giving an example of each. Recommend the best one for the company based on its resources and goals. International Business Strategies Discuss the key international business strategies that could help the company succeed internationally. You are to recommend the best…arrow_forward
- As for The Soup Kitchen Project, why is managing and addressing risk is very important? After consulting with stakeholders and other team members for suggestions, why do you think utilizing an adaptive management risk approach would be great?arrow_forwardWhat employees will be eligible ? how long must the employees be employed under the plan ? what is the level of cost of the company will take on ?arrow_forwardIn a small island developing country, the service sector has been dominated by four companies: LightingPros Ltd., Island Solutions Inc., Real Services Co., and Entertainment Enterprises. Each company offers similar services, including event planning, catering, transportation, equipment rental, and audio-visual production. At present clients engage different companies for specific services, creating a balanced distribution of business across the market. However, recent shifts in client preferences have disrupted this equilibrium. Clients now prefer the convenience and efficiency of working with a single provider that can offer a comprehensive package of services. This has led to a significant decline in business for some companies that are unable to offer the full suite of services on their own. Some of the challenges faced by the companies include limited-service offerings, client convenience where clients prefer working with a single vendor to simplify communication, reduce costs, and…arrow_forward
- St. Lucia, a small island developing country, the service sector has been dominated by four companies: LightingPros Ltd., Island Solutions Inc., Real Services Co., and Entertainment Enterprises. Each company offers similar services, including event planning, catering, transportation, equipment rental, and audio-visual production. At present clients engage different companies for specific services, creating a balanced distribution of business across the market. However, recent shifts in client preferences have disrupted this equilibrium. Clients now prefer the convenience and efficiency of working with a single provider that can offer a comprehensive package of services. This has led to a significant decline in business for some companies that are unable to offer the full suite of services on their own. Some of the challenges faced by the companies include limited-service offerings, client convenience where clients prefer working with a single vendor to simplify communication, reduce…arrow_forwardTransactional leadership Discuss how this leadership style will fit with the healthcare industry and can benefit the staff. Explain your answer.arrow_forwardFive crucial traits—emotional intelligence, visionary wondering, conversation, adaptability, and empathy discuss in detail how these traits support someone in becoming an effective leader in a management position.arrow_forward
- You are the Human Resource Manager of your company and your input has been sought for the following scenarios: Aimee is the mother of a new born. She is very dedicated to her work but she used to stay for longer hours at work before she had her baby. Now she tries to schedule her work so that she leaves around 5:00 p.m. Her immediate manager feels that Aimee is no longer dedicated or committed to her work and is considering passing her over for a promotion. Jack is a married male, while John is single. Your company has an assignment in a branch in Mexico that would last a couple of years. Management feels that John would be better for this assignment because he is single and is free to move. Brett, a sales employee has painful migraines intermittently during the workday. He would like to take short naps during the day as a preventative measure and he also needs a place where he can nap when a migraine occurs. His immediate manager feels that this is unfair to the rest of the…arrow_forwardIdentify and explain the legal and regulatory frameworks governing companies in Jamaica. Provide examples of compliance and non-compliance cases, assessing their outcomes. Suggest best practices for ensuring compliance.arrow_forwardwhat measures can be implemented to track employees use of resources at the workplace?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Management, Loose-Leaf VersionManagementISBN:9781305969308Author:Richard L. DaftPublisher:South-Western College Pub
Foundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
Foundations of Business - Standalone book (MindTa...MarketingISBN:9781285193946Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage LearningMarketingMarketingISBN:9780357033791Author:Pride, William MPublisher:South Western Educational Publishing
Management, Loose-Leaf Version
Management
ISBN:9781305969308
Author:Richard L. Daft
Publisher:South-Western College Pub
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Foundations of Business - Standalone book (MindTa...
Marketing
ISBN:9781285193946
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Marketing
Marketing
ISBN:9780357033791
Author:Pride, William M
Publisher:South Western Educational Publishing