10 May Question107) Successful entrepreneurs reco
Question
107) Successful entrepreneurs recognize that their most valuable asset is their time, and they learn to manage it effectively to make themselves and their companies more productive; having passion about their businesses, products, and customers enables them to stay motivated.
108) Expanding a business usually requires no significant changes in structure or business practices.
109) What is an entrepreneur? Give a brief profile of a typical entrepreneur. What is the primary motivation for the typical entrepreneur?
110) Discuss the potential benefits and drawbacks of entrepreneurship.
111) Describe the factors that are driving the current entrepreneurial trend in the U.S. economy.
112) Discuss the role that the following groups are playing in leading the ongoing surge in entrepreneurial activity:
? women
? minorities
? immigrants
? part-time entrepreneurs
? home-based entrepreneurs
? family businesses
? copreneurs
? corporate castoffs
? corporate dropouts
113) Discuss the impact of small businesses on the U.S. economy, including sales, GDP, job creation, and innovation.
114) The following lists the ten deadly mistakes of entrepreneurship.
1. Management mistakes
2. Lack of experience
3. Poor financial control
4. Weak marketing efforts
5. Failure to develop a strategic plan
6. Uncontrolled growth
7. Poor location
8. Improper inventory control
9. Incorrect pricing
10. Inability to make the entrepreneurial transition
Select one of these deadly mistakes, describe what it may look like for the entrepreneur, and give an example.
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