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Research shows that most new business ventures (not franchises) have serious challenges when it comes to acquiring start-up capital, predicting expenses and managing cash shortfalls. As a matter of fact, about 8 out 10 new businesses are no longer running after 10 years. Reasons include poor or inadequate management training, faulty or scant market research, or even boredom with the business. The number one reason for failure, however, is poor financial planning and management. So after reviewing the content in Chapters 7-10, incorporate your answers to the questions below in a 300-400 word summary.
1. What did you learn about managing finances effectively to maintain and grow your business?
2. Is it necessary for every entrepreneur to have a deep understanding of financial statements?
3. Many, if not most successful entrepreneurs, are real "penny-pinchers." Why do you think this is so?
4. Why is it important to keep detailed records and documentation of all financial transactions?
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Southeastern Oklahoma Stale University's business program has the facilities and faculty to handle an enrollment of 2,000 new students per semester.
Differentiate between leadership and management roles, and provide specific examples from the text, literature, or personal example.
Identify the benefits of a business plan (a) for an entrepreneur and (b) for financial sources. A brief answer is appreciated.
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Assume you have a choice to work for a globally integrated enterprise, a met national, a glorecalized MNE, a micro-multinational, or a cyber corp. Which would you choose? Why? What sorts of management skills and executive perspectives do you believe ..
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Examine the most common differences affecting employees in organizations, and give two (2) specific examples of techniques that managers can use.
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