Quiz 1: Small Business: an Overview

Business

Origin of the case: Movies take us to new places, and entertain us. Lessons from movies are open to interpretation and differ from the intentions of the film maker. There are many filmmakers like Francis Ford Coppola and Oliver stone who intended to teach people how to run a business through their movies. Movie that inspires to run a business: "Godfather" is one of the greatest movies in the world, which explains to the viewers how to manage a small family business. The movie is directed by Francis Ford Coppola whose intention is to teach people about running a business. The movie is on the subject of development of a small family business which becomes the largest organized crime family in a city, fighting off the conflict at any expense. The hero and his son are the brain behind their family and the movie gives a great insight into what it takes to become the most influential family business in a country.

Internet: Internet is a network that consists of a million public, private, business, and government networks, from a local to global scope, connected by a broad array of electronic, wireless, and optical networking technologies. Statement: " Internet re-creates the way business is done" Justification: Internet has brought tremendous changes in the business environment. Internet has made many companies around the world to re-create their business plans. Internet has formed a complete business function frequently referred to as e-business. The e-business represents the utilization of internet and the business skills in a company's operations. Many companies have started implementing various forms of business or internet technology in their business operations. Internet has been a significant feature for many companies because communication and transfer of information are being done using the internet. E-mail has been very helpful and cost efficient for the companies in several ways. Companies have started to develop business websites which allow the consumers to provide feedback about the company and its product before making a purchase. Internet has allowed many companies to find ways to lower the operational cost of the company. Companies implement business software with the help of internet, this software helps the company to review the effectiveness and efficiency of each department.

Small business: Small business can be defined as business activities which are measured to be small in size, if it is owned, financed and operated independently. Generally, small businesses consist of less than 100 employees depending upon the service rendered. Small businesses are common in most countries which are relatively dependant on the economic system of operation. Examples for small business: Restaurants, hair dressers, convenience stores, and other small shops are a few examples of small businesses.