Literature Review “Business Viability: A Comparison Between Franchises and Independent Business” by Lewis (2009) aims to investigate the advantages and disadvantages that are experienced by the entrepreneur as the owner of an independent small or medium enterprise, or franchise business and its environs. Business opportunities can mean different things to different people. While all franchise and independent businesses for sale are business opportunities, not all business opportunities meet the requirements
Question 2 Economic models aid managers and economists to evaluate the economic decision-making process. Each of these models relies on a number of norms, or simple factors that are existing in all decision conditions. Virtually everybody in the world is involved in economic decision making at every point in time, from the wealthy people investing in real estate, to the small business proprietor signing a contract with a supplier and also the teen buying a new dress or applying for a job; and these
In response to your request regarding information about the founder of Tom’s Shoes, Blake Mycoski; the following discussion has been submitted. Why did he start the company? Blake Mycoski started his for profit Shoe Company, Tom’s shoes in 2006 to provide shoes to poor children worldwide. Mycoski’s business model is, sell a pair, and donate a pair. He believed that if a person is blessed with the necessities they should give to the unfortunate. Originally his plan was to start small by helping 250
Shortage of finance: women entrepreneurs suffer from the problem of inadequate finance and working capital. Banks and other sources dont lend them money easily due to inadequate security and assets as it ia a male dominating society and majority of the assets are in the name of males
The United States underwent a period of time where industrialization took a huge step forward; small towns and farms started to become developed cities with factories, providing the country with jobs, manufactured goods, and a rapidly increasing economic balance. Even with the number of farmers going down, the industries managed to maintain the abundant growth of crops such as wheat and corn. It is believed that this rapid increase in industrialization sparked due to the “Transportation revolution
entrepreneurship is roughly refers to individual who are driven by a sense of social mission to work for social change (Bornstein, 2004, Dees, 2001, Martin & Osberg, 2007). It is the process of bringing about social change on a major scale. Social entrepreneurs function as the agents of change, questioning the status quo, grabbing the new yet overlooked opportunities, and changing the world for the better. Social entrepreneurship is an emerging field that begins to attract attention from many sectors
Inadequate technology barrier Despite the considerable advancements in technology and communication technology (Huq, 2009), there was a lack of knowledge in this area. Most marketing, communications, and business processes are done through the use of technology. Pan Pacific Interiors faced this issue head on. The strategy involved educating their staff on the use of CRM (customer relationship management) software; this allowed the company to engage their clients in a way they had not been able to
What consequences do street vendors have on restaurants and retail stores operating on the same street block? Los Angeles is one of the cities known for constant innovation where new services and products are created and later sold around the world and locally. However, a number of the commercial activities are transacted in streets and in the shadows because the municipal of the city prohibits the sale of goods or foods on the sidewalks. According to the Bureau of Street Services, street vending
one million. Once they hit the goal, they will start their business production procedure, as a pay back, people who help an entrepreneur with the fundraising will get a discount to purchase the product or receive the product for free. This way can help an entrepreneur not losing control of the company, because they still own the company, the disadvantage is, the entrepreneur has to take the risk of their ideas may be stolen by competitors, because all the information is in
protect the environment. However most of the entrepreneurs on nowadays more tend to get greater profits rather than thinking over that their products may be brought harmful effects to the environment and lack awareness of environmental. Harmful effects that might bring businesses to the environment include air pollution, water pollution, land pollution and excesses of plastic bags. Thus, in order to fulfil business ethics and social responsibility, entrepreneurs should advocate some environmental friendly