Pioneering new small business

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Reference no: EM132216114

1. Quinn has landed a management position with a pioneering new small business after many years of working as a regional manager for a nationally known nonprofit. As Quinn starts her new job, she is likely to find that

due to the significant differences in large and small firms, her previous experience will be of little value in her new position.

the principles of management are much the same at large and small firms.

nonprofit organizations are motivated by their desire to help people and so financial management is of little concern.

planning is more important to a nonprofit organization and less important to a small business so she will need to adjust the time she spends on the planning function.

2. Ariana, a talented photography student, started her own photography business. She planned to solicit jobs from large corporations, which would need headshots and other pictures for their annual reports and websites. Although filling a unique niche, Ariana needed the security that the business would thrive and that she would earn enough to support herself and her family. She also hoped she would spend less time each day calling on potential clients and more time doing the actual shoots. As her small business consultant, which of the following suggestions would you have for Ariana?

Ariana should either take the risk necessary to develop a small business, or go to work for someone else.

In the beginning, it's doubtful that Ariana will realize ease of entry, security, and good profits. She needs to make plans in the event that one or more of these does not materialize quickly.

Photographers can take pictures of a multitude of things. It's probably not good strategy to limit her business to only photographing the needs of large corporations.

Ariana should definitely make time for herself each day so that she does not experience burnout. If she plans well, leaping into her own business will provide her with several hours of unstructured time each day where she can perfect her craft even more.

3. The board of directors of a company:

is not accountable to the company's stakeholders.

should ideally be elected by the CEO.

oversees the governance of the organization.

should ideally have less power than the CEO.

4. An example of a company that focuses entirely on the business market wpuld be?

Advance micro devices

John Deere

Eastman Kodak

Microsoft

Reference no: EM132216114

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