Discuss quality as a strategy. C
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- 8. What are the key elements affecting entrepreneurial strategy in the following environments? a. Emerging industries b. Transitional industries c. Maturing industries d. Declining industries e. Fragmented industries6. Define business plan and explain each and every element of business model development.Choose four (4) activities that belong to stage 3 of the Entrepreneurial Process a. Your medical technology venture team only needs your mom, sister and dad, you don't need to hire trained technicians, doctors or even outsource to professional medical firm. The team can learn on the job b. Create fake financial records so that investors will be impressed c. Preparing the proper ethical and legal foundation d. Assessing a new venture’s financial strength and viability e. Social distancing is for clowns, and after curfew parties are best held in cane fields f. If you operate a restaurant bribe the health inspector so that you don't need a health permit g. Your bank manager is your girlfriend, who cares if the venture is financially feasible, she can't say no to me h. Do not pay taxes and pirate software to cut expenses i. Contact your local loan shark for some quick cash j. Building a new venture team k. Getting financing or funding
- 1. Write 2 products/services you want to pursue if you become an entrepreneur. 2. Identify your target market by answering the following question in the box provided below. a. WHO are your target customers? b. WHY are you targeting those people? c. WHAT is your goal in targeting these customers? Product/Service Target Market Who: 1. What: Why: Who: 2. What: Why:1. Outline the difference between a business idea and a business opportunity? Why is this distinction important? 2. Define business concept statement, in your own words. Outline its main elements. 1. Identify three (3) features of the Five Competitive Forces Model and discuss how they operate to affect the profitability of firms in an industry. 2. Describe a business start-up you are contemplating and explain why you have made this choice. 3. Identify and discuss the four (4) major components of a business feasibility analysis. 4. a) What is the purpose of conducting a business feasibility analysis? b) When is the best time to conduct a feasibility analysis? c) Justify your response.1. Identity five elements that are important in assessing and comparing the attractiveness of alternative business opportunities in terms of their market potential.2. identify three elements that are important in assessing and comparing the attractiveness of 'alternative business opportunities in terms of their financial viability.
- As would be entrepreneur, you are tasked to write down at 3 career opportunities which attract you the most. Indicate what competencies you need to enhance in order to become succesful in thes opporunitiesAs a group of aspiring entrepreneurs, you must create a business plan for an Agro-Processingbusiness in any Caribbean country (not an existing business/company). Development and Production PlanMaintaining your output level in order to meet your customers' demands is anecessary skill. As a result, the following questions must be addressed: • Do I need anyone to assist in the production (you may want to be a bitmore specific here)?• If special skills are needed, how can they be acquired and retained?• What are the total production costs?In order to estimate the cost of production you would need to do the following:• Identify all the inputs needed to produce and sell.• Calculate the cost of the production of a specific quantity that you canmanage.• Identify production inputs under the following headings:Fixed cost: Costs that will be incurred regardless of the level ofproduction.Variable Costs: Costs that are directly related to the level of production.The more goods produced, the more…The written report of your new entrepreneurial firm based on the criteria given below.1. Identify and discuss business to be ventured into: background of business, product, service and industry. 2. Identify its business strategy: the desired image and position in the market and SWOT analysis. 3. Marketing strategy: target market, advertising and promotion strategy, pricing structure and its distribution strategy. 4. Competitor analysis: identify the existing competitors and potential competitors. 5. Descriptions of the management team: key managers & employees, backgrounds, experience & skills. 6. Financial & funding: sources & uses of funds. 7. Critical risk factors: critical risk factors that your new business/firm may face. These risks may be management risks, marketing risks, financial risks or other risks depending on your industry and particular situation.
- Successful businesses follow either cost leadership or product differentiation business strategy. Here, I am not differentiating between broad and focused strategies. Based on their chosen strategies, they would have developed different capabilities and created different business processes (see the Competitive Priorities and Capabilities section in Chapter 1). Please consider Chipotle and McDonald’s business processes, competitive priorities, and capabilities. Based on your consideration, can you determine their chosen business strategies?What's In Guide Questions: 1. What are the considerations taken in venturing into a new business? 2. What are the risks involved in venturing into a new business? (e.g. restaurant business). 3. Is there a market for the product/services you want to offer? 4. Are the products/services you plan to offer basic necessities or not? 5. Can you identify the players in the industry? 6. What are the salient features/competitive edge of the product/services your plan to offer? 7. Do you have the managerial competence and technical expertise to run the business? 8. Do you have distribution channels by which you can sell you products/services? 9. Do you have the financial resources to start and operate the business?which one of the following is the stage that administritve activity that are necessary for profitability and efficiently are carried out within the process of business establishment? A) business plan B)Business development C)pre assessment D)fesbility reserach