Small Business Management BUS:2285 Exam 3 – Take Home – Due April 16, 9:30am. Worth 20% of your Final Grade. This is a take-home examination. There is a list of 17 questions. You are required to answer 10 questions only, of your choosing. Each question is worth 10%. This exam is meant to evaluate … Continue reading “Small Business Management | My Assignment Tutor”
Small Business Management BUS:2285 Exam 3 – Take Home – Due April 16, 9:30am. Worth 20% of your Final Grade. This is a take-home examination. There is a list of 17 questions. You are required to answer 10 questions only, of your choosing. Each question is worth 10%. This exam is meant to evaluate your ability to apply the knowledge we have learned over this semester. Do NOT plagiarize other’s work or re-write the textbook, original thought is expected. Turnitin reviewed. Read the questions carefully. Choose 10 to answer. You got this! Chapter 1 – The Role of Entrepreneurship and Small Business in Canada What is meant by the statement “small business is the backbone of the Canadian economic system”? How did Covid 19 effect this? Chapter 2 – The Small Business Decision Select a successful business, and discuss the reasons for its success, drawing on the success characteristics outlined in the text. Chapter 3 – Evaluation of a Business Opportunity J & J is thinking of developing a new coin laundry. The firm first needs to do some market research to determine the demand for the product. What kind of information should it collect? Chapter 5 – Buying a Business and Franchising What do you think is the best method of becoming an entrepreneur? Starting a business from scratch? Buying an existing business? Buying a franchise? Why? Explain the advantages and disadvantages of all three. Chapter 7 – Managing the Small Business Define the target market(s) for your College. What are the target demographics, lifestyle characteristics, purchase characteristics, and purchase motivations? Create a customer profile for one of the target markets. Chapter 6 – Financing the Small Business What do you think are the advantages and disadvantages of crowdfunding and angel investors? Chapter 8 – Managing the Marketing Mix Develop a promotional campaign for a business of your choice, following the guidelines in the text in this chapter (Chapter 8). Make sure you use some of the effective, low-cost promotions such as guerrilla marketing, PR, and social networking. Decide specifically which social networking sites you will use and why. Present your promotional campaign to the class, and ask for feedback and suggestions. What elements make up the marketing mix? What is the purpose of the marketing mix in a marketing plan? Chapter 9 – Managing the Small Business In addition to business expenses, reviewing your personal expenses can be a meaningful exercise. Create a monthly budget for yourself. Where do you want to be financially in one, three, five, and ten years? How will you get there? Is it more important for an entrepreneur to track cash or profits? Does it depend on the type of business and/or industry? What troubles will an entrepreneur face if he or she tracks only profits and ignores cash? What troubles will an entrepreneur face if he or she tracks only cash and ignores profits? Research the software packages (3 total) available to help entrepreneurs with the financials for a business plan. Which do you believe is the best? Chapter 11 – Human Resources Management Recently, a small business increased the wages of its employees, but its productivity is still inadequate. What are some possible reasons for this low level of productivity? Study some online job boards or LinkedIn job advertisements, and choose three examples of good job advertisements, explain why. Choose three examples of poor job advertisements, explain why. Chapter 12 – Management Help: Mentors, Boards of Advisors or Directors, and Tax Assistance Have you ever had a Mentor? Who and why did they become a Mentor to you? Explain Boards of Advisors or Directors. Chapter 13 – Managing Growth What are some of the advantages of growing a business? What problems should the owners be aware of when expanding? How might these problems be dealt with? Chapter 14 – Managing the Transfer of Business Assume you owned a company that you wanted to keep in the family. One of your three children has been working in the business and is interested in taking over. However, the other two feel they are entitled to their one-third share of the value of the business. What would you do?
