What do you think the major competitive strengths

Assignment Help Management Theories

Reference no: EM133740020

Learning Outcome 1: Describe the place of small business in history and explore the strengths and weaknesses of small business. (CLO1)
Learning Outcome 2: Outline the solid understanding of the potential of entrepreneur in today's competitive business world. (CLO2)

PART (A):

1. Explain the differences among creativity, innovation, and entrepreneurship. Why are creativity and innovation so important to the survival and success of a business? (Minimum 200 words)

2. describe the role of the following groups in entrepreneurship: women, minorities, immigrants, "part-timers," home-based business owners, family business owners. (Minimum 200 words)

PART (B):
Choose one local small business and answer the following questions:
A. Scope and type of business (3 Marks)
• Business idea: what is the big idea? Is it a product or a service? What makes this idea different?
• Mission Statement.
• Company's short-term and long-term goals and objectives.

B. Business Philosophy (3 Marks)
• Describe the most important company strengths and core competencies: What factors will make the company succeed? What do you think the major competitive strengths of this company?
•
• Risk Assessment: Evaluate the strengths and weaknesses of this business using SWOT.

Products and Services (3Marks)
• Briefly discuss the products or services.
• Size of business: how many employees? How many offices and retail facilities?

Reference no: EM133740020

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