Principles of Management
OER 2019 Edition
ISBN: 9780998625768
Author: OpenStax
Publisher: OpenStax College
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Textbook Question
Chapter 7, Problem 3CRQ
What are some major factors that motivate entrepreneurs to start businesses?
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Drawing on ABC's experience in expanding into Mauritania, discuss the significance of the Experience Curve and Learning Effects for firms expanding internationally, and analyse their long-term benefits in a competitive global market.
Demonstrates a clear and thorough understanding of both the Experience Curve and Learning Effects, with detailed examples related to ABC’s expansion.
Applies the concepts effectively to ABC’s expansion into Mauritania, with clear examples of how these effects manifest in the new market.
Effectively incorporates relevant theories and models to support the analysis.
Response should be well-organised, with clear and logical arguments that flow seamlessly. The language is concise and appropriate.
Entering foreign markets presents firms with various strategic options. Using the case of ABC's expansion into Mauritania, discuss the key factors influencing a firm's choice of market entry strategy.
Demonstrates a clear and detailed understanding of market entry strategies, providing a strong evaluation of the factors affecting ABC’s choice of entry strategy in Mauritania.
Applies relevant theories and concepts effectively to ABC’s entry into Mauritania, with strong, context specific examples and explanations.
Provides a comprehensive evaluation of the key factors affecting market entry, explaining how each factor influences the choice.
Response should be well-organised, with clear and logical arguments that flow seamlessly. The language is concise and appropriate.
Explain with the help of diagram(s) (a) how the producer's and consumer's risks are related to the natural tolerance set at ±30 in a control chart, and (b) how the two risks are involved in the typical OC-curve?
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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