Reference no: EM133267366

1. How would you define small business?

2. Name a company that seems large but might be classified as small because it has relatively little impact on its industry.

3. Define outsourcing, and describe its impact on small business.

4. Is workforce diversity as important to small businesses as it is to big businesses? Why or why not?

5. Why are small businesses more likely than large businesses to be innovative?

6. How can being close to your customers give you a competitive advantage?

7. Describe the techniques that a business with which you are familiar has used to prevent business failure.

HW#2

1. What do entrepreneurs do that distinguishes them from any other person involved in business?

2. How is small business management different from entrepreneurship?

3. If a friend told you that entrepreneurs are high risk takers, how would you set the story straight?

4. Explain why people who own a small business may not enjoy pure independence.

5. Under what conditions would you consider joining a partnership? Why would you avoid becoming a partner?