Principles of Management
OER 2019 Edition
ISBN: 9780998625768
Author: OpenStax
Publisher: OpenStax College
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Textbook Question
Chapter 7, Problem 12CRQ
How do ethics impact decision-making with small-business owners?
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d. Reflect on the impact of infrastructure on entrepreneurial ventures like Savannah Organics.
What improvements could help reduce barriers?
(3 marks)
e. How important was Thato's ability to innovate and adapt in overcoming environmental
challenges? Provide examples from the case to support your answer.
(3 marks)
accreditation. Thato had to work with international bodies, adding complexity and expense to her
operations.
Despite these challenges, Thato capitalized on the strengths of the entrepreneurial environment.
She formed partnerships with local agricultural cooperatives and NGOs, enabling her to access
shared resources, knowledge, and training programs. She also collaborated with the government
to participate in a public-private initiative promoting sustainable farming, which provided her with
a modest grant.
Thato leveraged digital platforms to connect directly with customers, eliminating intermediaries
and offering competitive pricing. Her ability to innovate and adapt proved critical in sustaining her
business, even during economic disruptions caused by the COVID-19 pandemic. By the end of
2023, Savannah Organics had expanded its operations to 15 hectares, supplying produce to
supermarkets across the country and partnering with health-focused restaurants.
Thato's journey highlights both…
A sharing economy can be described as an economic model in which goods and resources are
shared by individuals and groups in a collaborative way such that physical assets become services.
The sharing economy enables people and organisations to earn profits from underutilised
resources. Discuss using relevant example and referencing the impact of sharing economy.
(20 marks)
Chapter 7 Solutions
Principles of Management
Ch. 7.1 - What do you think enabled Jack Bonneau to start...Ch. 7.1 - What personal characteristics and values will Jack...Ch. 7.1 - Describe several types of entrepreneurs.Ch. 7.1 - What differentiates an entrepreneur from a...Ch. 7.1 - What are some major factors that motivate...Ch. 7.2 - What type of entrepreneur is Apollonia PoilĂ¢ne?Ch. 7.2 - What personal ethics drove Apollonias decision to...Ch. 7.2 - Describe the personality traits and skills...Ch. 7.2 - What does it mean when we say that an entrepreneur...Ch. 7.3 - What are three ways small businesses can be...
Ch. 7.3 - What social and economic factors have prompted the...Ch. 7.4 - How can potential business owners find new...Ch. 7.4 - Why is it important to develop a business plan?...Ch. 7.4 - What financing options do small-business owners...Ch. 7.5 - What led MailChimps founders to change its focus...Ch. 7.5 - What was MailChimps big idea that changed the...Ch. 7.5 - How does the small-business owners role change...Ch. 7.5 - How does managing a small business contribute to...Ch. 7.5 - What are the benefits to small firms of doing...Ch. 7.6 - Why are small businesses becoming so popular?Ch. 7.6 - Discuss the major advantages and disadvantages of...Ch. 7.7 - What is the Small Business Administration (SBA)?Ch. 7.7 - Describe the financial and management assistance...Ch. 7.8 - What significant trends are occurring in the...Ch. 7.8 - How is entrepreneurial diversity impacting small...Ch. 7.8 - How do ethics impact decision-making with...Ch. 7 - What are the differences between classic,...Ch. 7 - What differentiates an entrepreneur from a...Ch. 7 - What are some major factors that motivate...Ch. 7 - How can potential business owners find new...Ch. 7 - Why is it important to develop a business plan?...Ch. 7 - What financing options do small-business owners...Ch. 7 - How do the small-business owners and entrepreneurs...Ch. 7 - What are the benefits to small firms of doing...Ch. 7 - Describe the financial and management assistance...Ch. 7 - What significant trends are occurring in the...Ch. 7 - How is entrepreneurial diversity impacting small...Ch. 7 - How do ethics impact decision-making with...Ch. 7 - What characteristics made Vic Ahmed a successful...Ch. 7 - How did their Ahmed and Steven Cases partnership...Ch. 7 - Is focusing on smaller cities rather than areas...
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