SBE 310 Small Business Management and Entrepreneurship
Week 1 DQ 1
What do entrepreneurs do that distinguishes them from any other person involved in business? Why it is that personality characteristic 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 3 Assignment:
SBE 310 Week 3 Interview Paper
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 over segment 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 5 Assignment:
SBE 310 Week 5 Entrepreneur Research Project- Part 2
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 6 Assignment:
GYM Presentations (Small Business Management and Entrepreneurship)
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?
Week 7 Assignment:
SBE 310 Week 7 Entrepreneur Research Project- Part 3
Week 8 Final Exam
Multiple Choice Questions
1. (TCO 1) Approximately what percentage of businesses have a payroll with fewer than 500 people?
2. (TCO 1) You have a small business that offers printing services. One of the services you offer is a high-speed color copier. You are currently the only printing service in a tri-state area that offers such a service. You currently have _______.
3. (TCO 1) Your employees are your most valued assets due to their _______.
4. (TCO 1) Entrepreneurship primarily involves which phase of business?
5. (TCO 1) Which of the following is the most common form of business ownership?
6. (TCO 4) Which of the following acts was written to prevent large businesses from forming trusts?
7. (TCO 4) Bankruptcy remains on a credit report for how many years?
8. (TCO 4) Peter Drucker stated that businesses have _______ basic functions.
9. (TCO 4) Managing inventory can be compared to which of the following?
10. (TCO 4) What is the key word in evaluating a channel of distribution?
11. (TCO 4) A long-term agreement to rent a building, equipment, or other assets is known as a:
12. (TCO 4) Consumers typically do not want the cheapest product available; they want the:
13. (TCO 4) The point at which total cost equals total revenue and the business is neither making or losing money is known as the _______.
14. (TCO 2) Through the franchise agreement, the___ gains benefit of the parent company’s expertise,experience,management systems,marketing, financial help.
15. (TCO 2) The financial document that is used by startup businesses to show where capital comes from and for what it will be used is called:
16. (TCO 2) Which of the following is not included in the marketing plan section of the business plan?
17. (TCO 3) When analyzing financial statements, remember that profits can be increased and expenses can be decreased to make the records look better ______.
18. (TCO 3) In the chapter opener, what was the limitation that kept Philip Rosedale from creating Second Life when he first had the idea for it?
19. (TCO 3) Most Inc. 500 companies receive more than half of their revenue from:
20. (TCO 3) Computers, office equipment, and furniture are all examples of ________ that have a life of more than one year.
21. (TCO 5) Mintzberg suggested several important skills a manager needed in order to perform the four functions of management. The most important of these was listed as
22. (TCO 5) Maslow’s hierarchy of needs theory ranks the highest level of needs as what?
23. (TCO 5) The Equal Employment Opportunity Commission _____ that the information from a job analysis be used to ensure equal employment opportunity.
24. (TCO 6) A production process that operates for long periods of time without interruption is known as?
25. (TCO 6) Scheduling is necessary to maximize levels of
26. (TCO 7) An account number of 13 would represent which of the following accounts?
27. (TCO 7) Equity funds never need to
28. (TCO 8) About what percent of small businesses export goods and services?
29. (TCO 9) The obligation of business to maximize the positive impact it has on society while minimizing the negative impact is called:
30. (TCO 9) Threats and opportunities to a business can be found in which of the following environments?
1. (TCO 1) Compare and contrast a sole proprietorship, a partnership and a corporation. Provide examples of where you would use each structure. (Points : 14)
2. (TCO 3) Analyze the advantages and disadvantages of buying an existing business. Under what circumstances would one be more advantageous? (Points : 14)
3. (TCO 4) Compare and contrast Economic Order Quantity and Just-In-Time as inventory control methods. Evaluate how these control methods can improve the financial position of a small business. (Points : 14)
4. (TCO 6) Compare and contrast analytic manufacturing systems and synthetic manufacturing systems, giving an example of each. (Points : 14)
5. (TCO 9) Analyze the four levels depicted in the pyramid of social responsibility. (Points : 14)