SBE 310 All Weeks 1-7 Discussions
Week 1 DQ 1
What do entrepreneurs do that distinguishes them from any other person involved in business? Why is it that personality characteristics may be good predictors of who will be a successful entrepreneur?
Week 1 DQ 2
Think of an activity that you love to do; it could be a personal interest or a hobby. How could you turn your passion for this activity into a business? What questions would you have to answer before you took this step? What triggering events in your personal life would it take for you to start this business?
Week 2 DQ 1
After watching the video on Stonyfield Farm answer this question: “The responsible thing to do is to identify and examine every potential for doing good and make some kind of investment there.” How has the company’s CEO set about to improve his company according to these words, and what remains to be done?
Week 2 DQ 2
You are an investor in small businesses, and you have three business plans on your desk. Choose one of the potential business owners listed. Explain why you think that would be the best bet for an investment.
1. A recent college grad, full of energy and ideas, but short on expertise.
2. A middle-management corporate refugee desiring a business of her own after frustration with bureaucratic red tape.
3. A serial entrepreneur who has previously started seven businesses (three of which were huge successes, whereas four failed, losing entire investments).
Week 4 DQ 1
Explain how a franchise could be considered a partnership. What makes a franchise agreement simpler than a partnership that you would start with another individual?
Week 4 DQ 2
Many entrepreneurs test the waters of a market by starting a sideline business. What are the advantages and disadvantages of selling items on Internet auctions, such as eBay?
Week 5 DQ 1
Segmentation is the process of breaking a population down into smaller groups and marketing to it. Is it possible for a small business to oversegment its market? How might that be dangerous?
Week 5 DQ 2
Many small businesses are built around one product. What risks does this approach impose? How can small business owners minimize those risks?
Week 6 DQ 1
Why should the small business owner consider the demographics of an area when choosing a location for opening a new business? Name some sources of demographic information that are valuable tools to use in this evaluation.
Week 6 DQ 2
What strategies should be considered if a small business is setting prices for a product that is to be exported? How are these strategies different from those used in a domestic market?
Week 7 DQ 1
As a young entrepreneur, you may soon be in the position of hiring one or more of your college friends in your own business. What are the advantages of hiring your friends? What are the potential pitfalls?
Week 7 DQ 2
After watching the video on operation management, answer these questions:
1. How has Finagle A Bagel used customization in its design decisions as a means of distinguishing its service and products?
2. What is materials requirement planning, and how can an organization use it to create its product?