DeVry SBE420 Week 1 Discussion DQ1 & DQ 2

 

 

 

DQ 1

 

What Makes a Successful Entrepreneur? (graded)

 

Everyone has heard of Bill Gates and Jeff Bezos, but there are many other entrepreneurs who we’ve never heard of because they failed in their ventures. What does the term entrepreneurmean to you? What characteristics do you think make a person a successful entrepreneur?

 

DQ 2

 

Strategic Management (graded)

 

Why is strategic planning important to a small company? What business strategies are available to small businesses?

 

 

 

 

 

 

 

 

 

 

 

DeVry SBE420 Week 2 Discussion DQ1 & DQ 2

 

DQ 1

 

Feasibility Analysis (graded)

 

Describe one of the elements of a feasibility analysis. Describe why this element is an important part of the planning process.

 

DQ 2

 

Location, Location, Location (graded)

 

Why do realtors always say location, location, location? Which do you think is the most important component in the sale or purchase of real estate?

 

 

 

 

 

 

 

 

 

 

 

DeVry SBE420 Week 3 Discussion DQ1 & DQ 2

 

DQ 1

 

Preparing a Financial Plan

 

Why is preparing a financial plan so important? How do financial ratios fit into the preparation of a financial plan?

 

DQ 2

 

Cash Management

 

Why is cash management so important to a small business? How can a small company avoid a cash crunch?

 

 

 

 

 

 

 

 

 

 

 

 

 

DeVry SBE420 Week 4 Discussion DQ1 & DQ 2

 

DQ 1

 

Building a Competitive Edge (graded)

 

How does a company build a competitive edge, and why is this important for a small business?

 

DQ 2

 

Marketing on the Internet (graded)

 

What are the benefits of a small business marketing itself on the Internet? What are the disadvantages of a small business marketing itself on the Internet?

 

 

 

 

 

 

 

 

 

 

 

DeVry SBE420 Week 5 Discussion DQ1 & DQ 2

 

DQ 1

 

Equity Financing (graded)

 

Describe a source of equity financing, and discuss when this type of financing would be appropriate for a small business.

 

DQ 2

 

Debt Financing (graded)

 

Describe a source of debt financing, and discuss when this type of financing would be appropriate for a small business.

 

 

 

 

 

 

 

 

 

DeVry SBE420 Week 6 Discussion DQ1 & DQ 2

 

DQ 1

 

Supply Chain Management (graded)

 

A purchasing plan can mean the difference between success and failure of a small business. Why is it important to develop a purchasing plan? What should be included in a purchasing plan?

 

DQ 2

 

Small Business Administration (graded)

 

Many people say that managing a small business is the worst part of owning a small business. Why do you think that is? If a new small business owner came to you and asked your advice on how to manage employees, what would you tell them?

 

 

 

 

 

 

 

 

 

DeVry SBE420 Week 7 Discussion DQ1 & DQ 2

 

DQ 1

 

Risk and Legal Issues (graded)

 

In your opinion, what is the greatest risk in owning and operating a small business? Explain.

 

DQ 2

 

Insurance (graded)

 

Insurance can be a costly expense, especially for a company that isn’t profitable. Explain the different types of insurance that a small business can obtain, and identify which ones you think are crucial, which are not, and why.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

vry SBE420 ALL Week Video Review

 

 

Week 1

Watch the video and answer the following questions.

 

Describe the beginnings of Joie de Vivre Hospitality.

What traits make Chip Conley a good entrepreneur?

Consider the hotel business in terms of Maslow’s Hierarchy of Needs. Why did chain hotels become popular? Under what circumstances would someone choose a boutique hotel instead?

Why does Joie de Vivre Hospitality still consider itself a small business?

Summarize all of your answers in a Word document that is two-to-three pages in length and double spaced.

 

 

 

 

 

 

 

 

 

Week 2

 

Video – IdeaPaint: Creative Company on the Rise

 

 

 

Watch the video and answer the following questions.

 

Describe the beginnings of IdeaPaint from idea generation through product launch. Are the founders of IdeaPaint entrepreneurs? Why or why not?

What are the two start-up company pitfalls that Jeff Avallon, co-founder of IdeaPaint, discusses in the video clip? How did IdeaPaint overcome them?

What are IdeaPaint’s plans for long-term growth?

Summarize all of your answers in one Word document.

 

 

 

 

 

 

 

 

 

 

 

 

 

Week 3

 

Video – Johnny Cupcakes: Entrepreneurship

 

Watch the video and answer the following questions.

 

How did the Johnny Cupcakes brand originate?

According to the information in the video, what does Earle say is an essential part of being an entrepreneur?

Summarize all of your answers in a Word document that is two-to-three pages in length and double spaced.

 

 

 

 

 

 

 

Week 4

 

 

 

Video – Pandora

 

Watch the video and answer the following questions.

 

Discuss the challenges that Pandora faced by transitioning from B2B to a consumer model.

Discuss the three advertising options that Pandora had, which one it chose, and why.

What career advice does Joe give in the segment?

Summarize your answers in a Word document that is two-to-three pages in length and double spaced.

 

 

 

 

 

 

 

 

 

Week 5

 

 

 

Video – Jones Soda: Product Differentiation

 

 

 

Watch the video and answer the following questions.

 

During the company’s early years, how did Jones Soda differentiate its product from other soft drinks? How did it compete with Coke and Pepsi?

Who is Jones Soda’s target demographic? How has the company chosen to reach those customers?

What mistakes did Jones Soda make during its attempts to expand its market? What effects did these mistakes have on the business?

How did the company revive itself and its sales?

Summarize your answers in a Word document that is two-to-three pages in length and double spaced.

 

 

 

 

 

 

 

 

 

Week 6

 

 

 

Video – Zappos: Motivating Employees Through Company Culture

 

 

 

Watch the video and answer the following questions.

 

 

What are Zappos’ 10 core values? What impact do they have on the corporate culture?

What are the two kinds of interviews that a prospective employee will experience at Zappos? Why must an employee pass both interviews before being hired?

Describe Zappos’ new employee training program. What impact does it have on employee motivation and corporate culture?

Give examples of some of the perks available to Zappos employees. What impact do they have on culture?

 

 

 

 

 

 

Week 7

Video Review

 

Video – Terra Cycle: Foundations of Behavior – Watch the video here and answer the following questions:

 

Elaine Gaughran, Vice President of Human Resources, explains that TerraCycle hires mostly recent college graduates. Why? What are the advantages and disadvantages of this hiring strategy?

Mary, a production worker at TerraCycle, says, “I feel like this is my company, too.” What can entrepreneurs do to create that attitude among their workers? Do small companies have an advantage over large businesses when it comes to creating an environment that creates the attitude that Mary expresses in the video? Explain.

Milton Oppenheimer, an assistant production manager, says that TerraCycle hires employees who have criminal records, including himself. What are the risks and rewards of hiring these employees?

Summarize your answers in one Word document.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

DeVry SBE420 Week 3 Case Study

 

 

 

Read Case Study 7 – James Confectioners – Part 2, page 819, and answer the three questions at the end of the case study.

Summarize all of your answers in one Word document.

 

 

 

 

 

 

 

 

 

 

 

 

 

DeVry SBE420 Week 6 Case Study

 

 

 

 

 

 

 

Case Study

 

Read the case study, Circle R Ranch, on page 814, and answer the four questions at the end of the case study. Summarize your answers in a Word document that is two-to-three pages in length and double spaced.

 

Submit your assignment to the Dropbox located on the silver tab at the top of this page

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

DeVry SBE420 Week 7 Entrepreneur Interview

 

 

 

SBE420 Week 7 Entrepreneur Interview

 

Interview with an Entrepreneur

 

Assignment Guidelines

 

 

DUE DATE: Midnight Sunday, the end of week 7.

 

ASSIGNMENT:Visit a locally owned business and interview an entrepreneur. You may have to get on the telephone and make some calls or send some emails. Tell them that you are a college student and need 10 minutes of their time. People are almost always happy to help a student! Using the below sample questions as a guide, interview the entrepreneur asking questions from topics in this class. Summarize the results of your interview and relate the information received in the interview to what we have learned in the class in a 3-4 page paper (12-point, double spaced) using APA style and formatting. At the end of your paper, please give full contact information for your interviewee including name, company name, telephone and email address). No credit will be given without this information,

 

Sample Interview Questions

 

1. How long have you been an entrepreneur?

 

2. How would you characterize yourself?

 

3. What made you decide to go into business for yourself?

 

4. Do you have a business plan? What did you learn while building your plan?

 

5. Who are your competitors?

 

6. Do you advertise? If so, what media do you use?

 

7. How did you decide on your location?

 

8. How many employees do you have? How many are full-time? How many are part-time?

 

9. What do you look for in employees when you hire?

 

10. What questions do you ask in an interview?

 

11. What paperwork is involved in running this business?

 

12. Do you do your own accounting?

 

13. How many vendors do you order from?

 

14. What risks does your business face? How do you mitigate those risks?

 

15. How long has this company been in business?

 

16. How is your business financed? Why did you choose that method of financing?

 

17. What have been your biggest challenges in owning your own business?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

quiz

 

 

 

 

 

 

 

 

DeVry SBE420 Week 2 Quiz

 

1. Question : (TCO 5) Signs are important to the small business owner because they

 

are a medium that is not subject to regulation, thereby permitting maximum flexibility.

 

provide the maximum space for relatively complex messages.

 

are easy to use and to change.

 

grow in effectiveness the longer they are in place.

 

Instructor Explanation: Textbook page 547

 

Points Received: 4 of 4

 

Comments:

 

Question 2. Question : (TCO 5) The first phase in determining where to locate a business is

 

determining what regions in the country have what the new business needs to succeed.

 

conducting an Internet search for information on the cities of choice and competitors in those cities.

 

determining which city has the demographics that fit the business best.

 

choosing to what state the business owner wants to move.

 

Instructor Explanation: Textbook page 519

 

Points Received: 0 of 4

 

Comments:

 

Question 3. Question : (TCO 3) A small business owner would conduct a competitive analysis in order to

 

scan the environment for weaknesses and strengths on which to capitalize.

 

influence customers’ perceptions of the company and products’ image.

 

avoid surprises from existing competitors and to identify potential new competitors.

 

divide the market into smaller, homogeneous units.

 

Instructor Explanation: Textbook page 50

 

Points Received: 4 of 4

 

Comments:

 

Question 4. Question : (TCO 3) A mission statement should answer which of the following questions?

 

What are the needs and wants of the target customers?

 

How will we finance our growth and expansion?

 

How much money will we make?

 

Who are our competitors?

 

Instructor Explanation: Textbook pages 43-44

 

Points Received: 4 of 4

 

Comments:

 

Question 5. Question : (TCO 1) “Copreneurs” are

 

business magazines targeted towards entrepreneurs.

 

entrepreneurial couples who work together as co-owners of their business.

 

personality traits of entrepreneurs.

 

None of the above

 

Instructor Explanation: Textbook page 25

 

Points Received: 4 of 4

 

Comments:

 

Question 6. Question : (TCO 1) Which of the following is not a common characteristic of entrepreneurs?

 

High energy level

 

Business plan expertise

 

Preference for moderate risk

 

Desire for responsibility

 

Question 7. Question : (TCO 3) A well-developed business plan provides the entrepreneur with a number of benefits, such as

 

a way to identify probable financial backers.

 

assisting the entrepreneur in going public with his or her new venture on the stock market.

 

determining the principle risks confronting the business.

 

a valuable tool for recruiting management to help in running the business.

 

Instructor Explanation: Textbook page 160

 

Question 8. Question : (TCO 5) The value of the floor space in a retail store depends upon

 

the type of store and customer.

 

the number of salespeople servicing the area.

 

its proximity to aisles and entrances.

 

the merchandise in that area.

 

Question 9. Question : (TCO 3) Strategic management is a process that involves

 

developing a vendor list.

 

developing a vision and mission statement.

 

developing goals and objectives.

 

both B and C.

 

Question 10. Question : (TCO 3) A small business owner needs to remember that when it comes to employee involvement in the strategic planning process,

 

the delegation of authority is not as important as communicating a clear vision.

 

involvement is a prerequisite for the achievement of total employee commitment.

 

his or her employees look to him or her for leadership and do not want to be involved.

 

employees do not need to be involved in the strategic process, but do need to be involved in the operational process.

 

Instructor Explanation: Textbook page 66

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

DeVry SBE420 Week 5 Quiz

 

1. Question : (TCO 8) Projecting financial statements via the budgeting process helps the small business owner to:

 

track and monitor current expenses.

 

measure liquidity of the firm.

 

transform business goals into reality.

 

calculate his or her return on the amount invested in the company.

 

Question 2. Question : (TCO 8) The first step in managing cash more effectively is:

 

understanding the company’s cash flow cycle.

 

having an adequate cash reserve for emergency expenditures.

 

speeding up payment of accounts receivable.

 

rapid payment of accounts payable.

 

Question 3. Question : (TCO 9) The focus of the small company’s marketing plan is:

 

the customer.

 

its product or service.

 

an evaluation of key competitors.

 

attracting capital.

 

Question 4. Question : (TCO 9) The primary goal of marketing research is to:

 

determine how to allocate distribution resources.

 

help management choose the appropriate promotional tool.

 

discover potential competitors.

 

reduce the risks that the company will become competitively obsolete.

 

Question 5. Question : (TCO 9) Tami is developing an advertising strategy for her small business. The first step in this process is to:

 

determine how much she can spend.

 

identify her target audience.

 

choose an advertising agency to assist her.

 

determine the primary purpose of the advertising.

 

Question 6. Question : (TCO 9) Other cost-saving suggestions for advertising expenditures include:

 

repeat ads that have been successful.

 

use of identical ads in different media.

 

hire independent copywriters, graphic designers, photographers, and other media specialists.

 

All of the above

 

Question 7. Question : (TCO 9) What types of products are best suited for selling on the Web?

 

High volume, low margin, and commodity

 

High volume and low margin

 

High volume and high margin

 

Commodity

 

Question 8. Question : (TCO 9) The key to promoting a website is networking, building relationships with other companies, customers, trade associations, ________, and other websites during your company’s customers’ visit.

 

shopping cart

 

e-mail access

 

online directories

 

All of the above

 

Question 9. Question : (TCO 7) When receiving investment money from friends and relatives, entrepreneurs should:

 

use a clear verbal contract to ensure no misunderstandings.

 

discuss all details of the investment up front.

 

not borrow more than 30% of the necessary capital from them.

 

only borrow from close friends and relatives who won’t cause them trouble.

 

Question 10. Question : (TCO 7) ________ is/are an asset-based financing technique.

 

Inventory financing

 

Floor planning

 

Discounted installment contracts

 

Installment lending

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

DeVry SBE420 Week 7 Quiz

 

1. Question : (TCO 6) As a solution to a company’s quality problems, managers will find that TQM:

 

techniques can be implemented piecemeal, one-at-a-time.

 

may be implemented without significant training of employees.

 

creates little turmoil or change in the way a company does most of its business.

 

takes three to four years to bring about a significant change in quality.

 

Question 2. Question : (TCO 6) The vendor certification process assumes:

 

the business owner has detailed knowledge of the vendors.

 

the use of a cross-functional team to conduct the evaluation.

 

vendors are publicly owned so information can be gathered on each of them.

 

all vendors are charging the same prices.

 

Question 3. Question : (TCO 6) Employee theft can be caused or encouraged by a number of factors including:

 

physical breakdowns of security.

 

organizational atmosphere.

 

improper cash controls.

 

All of these

 

Question 4. Question : (TCO 10) Miguel and Jamie are talking. Miguel keeps using baseball metaphors as he is giving instructions to Jamie. Not having any experience with baseball, Jamie is only understanding about half of what Miguel is saying. Miguel and Jamie are experiencing ineffective communication because of:

 

Miguel not expressing his feelings.

 

information overload.

 

ambiguity in the communication.

 

the conflicting verbal and nonverbal messages Jamie is giving to Miguel.

 

Question 5. Question : (TCO 10) A ________ outlines the duties and responsibilities associated with a job and the working conditions involved.

 

job description

 

human resource plan

 

job analysis

 

job specification

 

Question 6. Question : (TCO 10) While a large percentage of business founders plan to pass on their businesses, few create management succession plans because:

 

they don’t feel they need one because they know which child will assume management of the business.

 

they are reluctant to let go of the business.

 

they don’t know how to do it.

 

they can’t afford the attorneys’ and accountants’ fees.

 

Question 7. Question : (TCO 2) A small fireworks manufacturer that shuts its plant down permanently because the risk of fire and the resulting losses are too great, is relying on a risk ________ strategy.

 

transfer

 

avoidance

 

reduction

 

anticipation

 

Question 8. Question : (TCO 2) ________ covers losses from the theft or loss of computers and data, the impact of computer viruses and computer system failures, intrusion by hackers, and problems with the privacy of customer information stored in databases.

 

Electronic data processing (EDP) insurance

 

Casualty insurance

 

Liability insurance

 

Comprehensive insurance

 

Question 9. Question : (TCO 4) When Fred Goodman sued Wendy’s over his broken tooth due to bone fragments in his hamburger, he sued them on the basis of:

 

negligent manufacturing.

 

breach of implied warranty of merchantability.

 

failure to warn and negligent design.

 

implied warranty of fitness.

 

Question 10. Question : (TCO 4) There are specific requirements for insurability which include:

 

the risk must be within a single geographical area.

 

there must a pool of insurers who will accept the risk.

 

the risk cannot be selected.

 

the value of the actual loss must be possible to determine.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FINAL

 

 

 

 

 

 

 

 

 

Question 1. 1. (TCO 1) Describe the key characteristics of a typical entrepreneur. What role do those who have been laid off from a corporation play in the growth of entrepreneurship in the United States? (Points : 30)

 

Question 2. 2. (TCO 2) Compare and contrast the three risk-management strategies: risk avoidance, risk anticipation, and risk transfer. Give an example of each. (Points : 30)

 

Question 3. 3. (TCO 3) Describe the components of a business plan. Why is it important for an

 

entrepreneur to develop a business plan? (Points : 30)

 

Question 4. 4. (TCO 4) Explain the concepts of sales and sales contracts, breach of sales contract, sales warranties, and product liability, as described in the Uniform Commercial Code. (Points : 30)

 

Question 5. 5. (TCO 5) Describe the types of layouts that a manufacturer can use. What are the advantages and disadvantages of each? Give an example of each one. (Points : 30)

 

Question 6. 6. (TCO 6) Explain why employees steal. How can a small business owner prevent stealing by its employees? (Points : 30)

 

Question 7. 7. (TCO 7) What are common sources of equity capital? If you could choose one way to finance your small business, which would you choose and why? (Points : 30)

 

Question 8. 8. (TCO 8) What are some ways that a small business owner can manage accounts payable? What are some ways that a small business owner can manage inventory to improve cash flow? (Points : 30)

 

Question 9. 9. (TCO 9) What is relationship marketing? What are the four steps that are part of relationship marketing? (Points : 30)

 

Question 10. 10. (TCO 10) What errors are common in a team-oriented environment? How can a manager ensure the team’s success? (Points : 30)

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DeVry SBE420 Week 1 Discussion DQ1 & DQ 2

 

 

 

DQ 1

 

What Makes a Successful Entrepreneur? (graded)

 

Everyone has heard of Bill Gates and Jeff Bezos, but there are many other entrepreneurs who we’ve never heard of because they failed in their ventures. What does the term entrepreneurmean to you? What characteristics do you think make a person a successful entrepreneur?

 

DQ 2

 

Strategic Management (graded)

 

Why is strategic planning important to a small company? What business strategies are available to small businesses?

 

 

 

 

 

 

 

 

 

 

 

DeVry SBE420 Week 2 Discussion DQ1 & DQ 2

 

DQ 1

 

Feasibility Analysis (graded)

 

Describe one of the elements of a feasibility analysis. Describe why this element is an important part of the planning process.

 

DQ 2

 

Location, Location, Location (graded)

 

Why do realtors always say location, location, location? Which do you think is the most important component in the sale or purchase of real estate?

 

 

 

 

 

 

 

 

 

 

 

DeVry SBE420 Week 3 Discussion DQ1 & DQ 2

 

DQ 1

 

Preparing a Financial Plan

 

Why is preparing a financial plan so important? How do financial ratios fit into the preparation of a financial plan?

 

DQ 2

 

Cash Management

 

Why is cash management so important to a small business? How can a small company avoid a cash crunch?

 

 

 

 

 

 

 

 

 

 

 

 

 

DeVry SBE420 Week 4 Discussion DQ1 & DQ 2

 

DQ 1

 

Building a Competitive Edge (graded)

 

How does a company build a competitive edge, and why is this important for a small business?

 

DQ 2

 

Marketing on the Internet (graded)

 

What are the benefits of a small business marketing itself on the Internet? What are the disadvantages of a small business marketing itself on the Internet?

 

 

 

 

 

 

 

 

 

 

 

DeVry SBE420 Week 5 Discussion DQ1 & DQ 2

 

DQ 1

 

Equity Financing (graded)

 

Describe a source of equity financing, and discuss when this type of financing would be appropriate for a small business.

 

DQ 2

 

Debt Financing (graded)

 

Describe a source of debt financing, and discuss when this type of financing would be appropriate for a small business.

 

 

 

 

 

 

 

 

 

DeVry SBE420 Week 6 Discussion DQ1 & DQ 2

 

DQ 1

 

Supply Chain Management (graded)

 

A purchasing plan can mean the difference between success and failure of a small business. Why is it important to develop a purchasing plan? What should be included in a purchasing plan?

 

DQ 2

 

Small Business Administration (graded)

 

Many people say that managing a small business is the worst part of owning a small business. Why do you think that is? If a new small business owner came to you and asked your advice on how to manage employees, what would you tell them?

 

 

 

 

 

 

 

 

 

DeVry SBE420 Week 7 Discussion DQ1 & DQ 2

 

DQ 1

 

Risk and Legal Issues (graded)

 

In your opinion, what is the greatest risk in owning and operating a small business? Explain.

 

DQ 2

 

Insurance (graded)

 

Insurance can be a costly expense, especially for a company that isn’t profitable. Explain the different types of insurance that a small business can obtain, and identify which ones you think are crucial, which are not, and why.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

vry SBE420 ALL Week Video Review

 

 

Week 1

Watch the video and answer the following questions.

 

Describe the beginnings of Joie de Vivre Hospitality.

What traits make Chip Conley a good entrepreneur?

Consider the hotel business in terms of Maslow’s Hierarchy of Needs. Why did chain hotels become popular? Under what circumstances would someone choose a boutique hotel instead?

Why does Joie de Vivre Hospitality still consider itself a small business?

Summarize all of your answers in a Word document that is two-to-three pages in length and double spaced.

 

 

 

 

 

 

 

 

 

Week 2

 

Video – IdeaPaint: Creative Company on the Rise

 

 

 

Watch the video and answer the following questions.

 

Describe the beginnings of IdeaPaint from idea generation through product launch. Are the founders of IdeaPaint entrepreneurs? Why or why not?

What are the two start-up company pitfalls that Jeff Avallon, co-founder of IdeaPaint, discusses in the video clip? How did IdeaPaint overcome them?

What are IdeaPaint’s plans for long-term growth?

Summarize all of your answers in one Word document.

 

 

 

 

 

 

 

 

 

 

 

 

 

Week 3

 

Video – Johnny Cupcakes: Entrepreneurship

 

Watch the video and answer the following questions.

 

How did the Johnny Cupcakes brand originate?

According to the information in the video, what does Earle say is an essential part of being an entrepreneur?

Summarize all of your answers in a Word document that is two-to-three pages in length and double spaced.

 

 

 

 

 

 

 

Week 4

 

 

 

Video – Pandora

 

Watch the video and answer the following questions.

 

Discuss the challenges that Pandora faced by transitioning from B2B to a consumer model.

Discuss the three advertising options that Pandora had, which one it chose, and why.

What career advice does Joe give in the segment?

Summarize your answers in a Word document that is two-to-three pages in length and double spaced.

 

 

 

 

 

 

 

 

 

Week 5

 

 

 

Video – Jones Soda: Product Differentiation

 

 

 

Watch the video and answer the following questions.

 

During the company’s early years, how did Jones Soda differentiate its product from other soft drinks? How did it compete with Coke and Pepsi?

Who is Jones Soda’s target demographic? How has the company chosen to reach those customers?

What mistakes did Jones Soda make during its attempts to expand its market? What effects did these mistakes have on the business?

How did the company revive itself and its sales?

Summarize your answers in a Word document that is two-to-three pages in length and double spaced.

 

 

 

 

 

 

 

 

 

Week 6

 

 

 

Video – Zappos: Motivating Employees Through Company Culture

 

 

 

Watch the video and answer the following questions.

 

 

What are Zappos’ 10 core values? What impact do they have on the corporate culture?

What are the two kinds of interviews that a prospective employee will experience at Zappos? Why must an employee pass both interviews before being hired?

Describe Zappos’ new employee training program. What impact does it have on employee motivation and corporate culture?

Give examples of some of the perks available to Zappos employees. What impact do they have on culture?

 

 

 

 

 

 

Week 7

Video Review

 

Video – Terra Cycle: Foundations of Behavior – Watch the video here and answer the following questions:

 

Elaine Gaughran, Vice President of Human Resources, explains that TerraCycle hires mostly recent college graduates. Why? What are the advantages and disadvantages of this hiring strategy?

Mary, a production worker at TerraCycle, says, “I feel like this is my company, too.” What can entrepreneurs do to create that attitude among their workers? Do small companies have an advantage over large businesses when it comes to creating an environment that creates the attitude that Mary expresses in the video? Explain.

Milton Oppenheimer, an assistant production manager, says that TerraCycle hires employees who have criminal records, including himself. What are the risks and rewards of hiring these employees?

Summarize your answers in one Word document.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

DeVry SBE420 Week 3 Case Study

 

 

 

Read Case Study 7 – James Confectioners – Part 2, page 819, and answer the three questions at the end of the case study.

Summarize all of your answers in one Word document.

 

 

 

 

 

 

 

 

 

 

 

 

 

DeVry SBE420 Week 6 Case Study

 

 

 

 

 

 

 

Case Study

 

Read the case study, Circle R Ranch, on page 814, and answer the four questions at the end of the case study. Summarize your answers in a Word document that is two-to-three pages in length and double spaced.

 

Submit your assignment to the Dropbox located on the silver tab at the top of this page

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

DeVry SBE420 Week 7 Entrepreneur Interview

 

 

 

SBE420 Week 7 Entrepreneur Interview

 

Interview with an Entrepreneur

 

Assignment Guidelines

 

 

DUE DATE: Midnight Sunday, the end of week 7.

 

ASSIGNMENT:Visit a locally owned business and interview an entrepreneur. You may have to get on the telephone and make some calls or send some emails. Tell them that you are a college student and need 10 minutes of their time. People are almost always happy to help a student! Using the below sample questions as a guide, interview the entrepreneur asking questions from topics in this class. Summarize the results of your interview and relate the information received in the interview to what we have learned in the class in a 3-4 page paper (12-point, double spaced) using APA style and formatting. At the end of your paper, please give full contact information for your interviewee including name, company name, telephone and email address). No credit will be given without this information,

 

Sample Interview Questions

 

1. How long have you been an entrepreneur?

 

2. How would you characterize yourself?

 

3. What made you decide to go into business for yourself?

 

4. Do you have a business plan? What did you learn while building your plan?

 

5. Who are your competitors?

 

6. Do you advertise? If so, what media do you use?

 

7. How did you decide on your location?

 

8. How many employees do you have? How many are full-time? How many are part-time?

 

9. What do you look for in employees when you hire?

 

10. What questions do you ask in an interview?

 

11. What paperwork is involved in running this business?

 

12. Do you do your own accounting?

 

13. How many vendors do you order from?

 

14. What risks does your business face? How do you mitigate those risks?

 

15. How long has this company been in business?

 

16. How is your business financed? Why did you choose that method of financing?

 

17. What have been your biggest challenges in owning your own business?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

quiz

 

 

 

 

 

 

 

 

DeVry SBE420 Week 2 Quiz

 

1. Question : (TCO 5) Signs are important to the small business owner because they

 

are a medium that is not subject to regulation, thereby permitting maximum flexibility.

 

provide the maximum space for relatively complex messages.

 

are easy to use and to change.

 

grow in effectiveness the longer they are in place.

 

Instructor Explanation: Textbook page 547

 

Points Received: 4 of 4

 

Comments:

 

Question 2. Question : (TCO 5) The first phase in determining where to locate a business is

 

determining what regions in the country have what the new business needs to succeed.

 

conducting an Internet search for information on the cities of choice and competitors in those cities.

 

determining which city has the demographics that fit the business best.

 

choosing to what state the business owner wants to move.

 

Instructor Explanation: Textbook page 519

 

Points Received: 0 of 4

 

Comments:

 

Question 3. Question : (TCO 3) A small business owner would conduct a competitive analysis in order to

 

scan the environment for weaknesses and strengths on which to capitalize.

 

influence customers’ perceptions of the company and products’ image.

 

avoid surprises from existing competitors and to identify potential new competitors.

 

divide the market into smaller, homogeneous units.

 

Instructor Explanation: Textbook page 50

 

Points Received: 4 of 4

 

Comments:

 

Question 4. Question : (TCO 3) A mission statement should answer which of the following questions?

 

What are the needs and wants of the target customers?

 

How will we finance our growth and expansion?

 

How much money will we make?

 

Who are our competitors?

 

Instructor Explanation: Textbook pages 43-44

 

Points Received: 4 of 4

 

Comments:

 

Question 5. Question : (TCO 1) “Copreneurs” are

 

business magazines targeted towards entrepreneurs.

 

entrepreneurial couples who work together as co-owners of their business.

 

personality traits of entrepreneurs.

 

None of the above

 

Instructor Explanation: Textbook page 25

 

Points Received: 4 of 4

 

Comments:

 

Question 6. Question : (TCO 1) Which of the following is not a common characteristic of entrepreneurs?

 

High energy level

 

Business plan expertise

 

Preference for moderate risk

 

Desire for responsibility

 

Question 7. Question : (TCO 3) A well-developed business plan provides the entrepreneur with a number of benefits, such as

 

a way to identify probable financial backers.

 

assisting the entrepreneur in going public with his or her new venture on the stock market.

 

determining the principle risks confronting the business.

 

a valuable tool for recruiting management to help in running the business.

 

Instructor Explanation: Textbook page 160

 

Question 8. Question : (TCO 5) The value of the floor space in a retail store depends upon

 

the type of store and customer.

 

the number of salespeople servicing the area.

 

its proximity to aisles and entrances.

 

the merchandise in that area.

 

Question 9. Question : (TCO 3) Strategic management is a process that involves

 

developing a vendor list.

 

developing a vision and mission statement.

 

developing goals and objectives.

 

both B and C.

 

Question 10. Question : (TCO 3) A small business owner needs to remember that when it comes to employee involvement in the strategic planning process,

 

the delegation of authority is not as important as communicating a clear vision.

 

involvement is a prerequisite for the achievement of total employee commitment.

 

his or her employees look to him or her for leadership and do not want to be involved.

 

employees do not need to be involved in the strategic process, but do need to be involved in the operational process.

 

Instructor Explanation: Textbook page 66

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

DeVry SBE420 Week 5 Quiz

 

1. Question : (TCO 8) Projecting financial statements via the budgeting process helps the small business owner to:

 

track and monitor current expenses.

 

measure liquidity of the firm.

 

transform business goals into reality.

 

calculate his or her return on the amount invested in the company.

 

Question 2. Question : (TCO 8) The first step in managing cash more effectively is:

 

understanding the company’s cash flow cycle.

 

having an adequate cash reserve for emergency expenditures.

 

speeding up payment of accounts receivable.

 

rapid payment of accounts payable.

 

Question 3. Question : (TCO 9) The focus of the small company’s marketing plan is:

 

the customer.

 

its product or service.

 

an evaluation of key competitors.

 

attracting capital.

 

Question 4. Question : (TCO 9) The primary goal of marketing research is to:

 

determine how to allocate distribution resources.

 

help management choose the appropriate promotional tool.

 

discover potential competitors.

 

reduce the risks that the company will become competitively obsolete.

 

Question 5. Question : (TCO 9) Tami is developing an advertising strategy for her small business. The first step in this process is to:

 

determine how much she can spend.

 

identify her target audience.

 

choose an advertising agency to assist her.

 

determine the primary purpose of the advertising.

 

Question 6. Question : (TCO 9) Other cost-saving suggestions for advertising expenditures include:

 

repeat ads that have been successful.

 

use of identical ads in different media.

 

hire independent copywriters, graphic designers, photographers, and other media specialists.

 

All of the above

 

Question 7. Question : (TCO 9) What types of products are best suited for selling on the Web?

 

High volume, low margin, and commodity

 

High volume and low margin

 

High volume and high margin

 

Commodity

 

Question 8. Question : (TCO 9) The key to promoting a website is networking, building relationships with other companies, customers, trade associations, ________, and other websites during your company’s customers’ visit.

 

shopping cart

 

e-mail access

 

online directories

 

All of the above

 

Question 9. Question : (TCO 7) When receiving investment money from friends and relatives, entrepreneurs should:

 

use a clear verbal contract to ensure no misunderstandings.

 

discuss all details of the investment up front.

 

not borrow more than 30% of the necessary capital from them.

 

only borrow from close friends and relatives who won’t cause them trouble.

 

Question 10. Question : (TCO 7) ________ is/are an asset-based financing technique.

 

Inventory financing

 

Floor planning

 

Discounted installment contracts

 

Installment lending

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

DeVry SBE420 Week 7 Quiz

 

1. Question : (TCO 6) As a solution to a company’s quality problems, managers will find that TQM:

 

techniques can be implemented piecemeal, one-at-a-time.

 

may be implemented without significant training of employees.

 

creates little turmoil or change in the way a company does most of its business.

 

takes three to four years to bring about a significant change in quality.

 

Question 2. Question : (TCO 6) The vendor certification process assumes:

 

the business owner has detailed knowledge of the vendors.

 

the use of a cross-functional team to conduct the evaluation.

 

vendors are publicly owned so information can be gathered on each of them.

 

all vendors are charging the same prices.

 

Question 3. Question : (TCO 6) Employee theft can be caused or encouraged by a number of factors including:

 

physical breakdowns of security.

 

organizational atmosphere.

 

improper cash controls.

 

All of these

 

Question 4. Question : (TCO 10) Miguel and Jamie are talking. Miguel keeps using baseball metaphors as he is giving instructions to Jamie. Not having any experience with baseball, Jamie is only understanding about half of what Miguel is saying. Miguel and Jamie are experiencing ineffective communication because of:

 

Miguel not expressing his feelings.

 

information overload.

 

ambiguity in the communication.

 

the conflicting verbal and nonverbal messages Jamie is giving to Miguel.

 

Question 5. Question : (TCO 10) A ________ outlines the duties and responsibilities associated with a job and the working conditions involved.

 

job description

 

human resource plan

 

job analysis

 

job specification

 

Question 6. Question : (TCO 10) While a large percentage of business founders plan to pass on their businesses, few create management succession plans because:

 

they don’t feel they need one because they know which child will assume management of the business.

 

they are reluctant to let go of the business.

 

they don’t know how to do it.

 

they can’t afford the attorneys’ and accountants’ fees.

 

Question 7. Question : (TCO 2) A small fireworks manufacturer that shuts its plant down permanently because the risk of fire and the resulting losses are too great, is relying on a risk ________ strategy.

 

transfer

 

avoidance

 

reduction

 

anticipation

 

Question 8. Question : (TCO 2) ________ covers losses from the theft or loss of computers and data, the impact of computer viruses and computer system failures, intrusion by hackers, and problems with the privacy of customer information stored in databases.

 

Electronic data processing (EDP) insurance

 

Casualty insurance

 

Liability insurance

 

Comprehensive insurance

 

Question 9. Question : (TCO 4) When Fred Goodman sued Wendy’s over his broken tooth due to bone fragments in his hamburger, he sued them on the basis of:

 

negligent manufacturing.

 

breach of implied warranty of merchantability.

 

failure to warn and negligent design.

 

implied warranty of fitness.

 

Question 10. Question : (TCO 4) There are specific requirements for insurability which include:

 

the risk must be within a single geographical area.

 

there must a pool of insurers who will accept the risk.

 

the risk cannot be selected.

 

the value of the actual loss must be possible to determine.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FINAL

 

 

 

 

 

 

 

 

 

Question 1. 1. (TCO 1) Describe the key characteristics of a typical entrepreneur. What role do those who have been laid off from a corporation play in the growth of entrepreneurship in the United States? (Points : 30)

 

Question 2. 2. (TCO 2) Compare and contrast the three risk-management strategies: risk avoidance, risk anticipation, and risk transfer. Give an example of each. (Points : 30)

 

Question 3. 3. (TCO 3) Describe the components of a business plan. Why is it important for an

 

entrepreneur to develop a business plan? (Points : 30)

 

Question 4. 4. (TCO 4) Explain the concepts of sales and sales contracts, breach of sales contract, sales warranties, and product liability, as described in the Uniform Commercial Code. (Points : 30)

 

Question 5. 5. (TCO 5) Describe the types of layouts that a manufacturer can use. What are the advantages and disadvantages of each? Give an example of each one. (Points : 30)

 

Question 6. 6. (TCO 6) Explain why employees steal. How can a small business owner prevent stealing by its employees? (Points : 30)

 

Question 7. 7. (TCO 7) What are common sources of equity capital? If you could choose one way to finance your small business, which would you choose and why? (Points : 30)

 

Question 8. 8. (TCO 8) What are some ways that a small business owner can manage accounts payable? What are some ways that a small business owner can manage inventory to improve cash flow? (Points : 30)

 

Question 9. 9. (TCO 9) What is relationship marketing? What are the four steps that are part of relationship marketing? (Points : 30)

 

Question 10. 10. (TCO 10) What errors are common in a team-oriented environment? How can a manager ensure the team’s success? (Points : 30)

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