Business in Action Study Set 2

Business

Quiz 6 :
Entrepreneurship and Small-Business Ownership

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Quiz 6 :
Entrepreneurship and Small-Business Ownership

This exercise requires knowledge and application of the concepts related to entrepreneurship.   Step 1 Read the question.   Step 2 Review the principles related to entrepreneurship. Simeon and TurningRobe both show a passion for what they do and have a passion for success. Both exhibited a high level of discipline and willingness to work hard and sacrifice. They were adaptable, tuned into their markets and are able to change directions when necessary.

This exercise requires knowledge and application of the concepts related to entrepreneurial adaptability.   Step 1 Read the question.   Step 2 Review the principles related to entrepreneurship. This change would not be consistent with their authentic, pure, all natural and high-end brand image. The switch will hurt its "sustainable" reputation and may potentially turn off some loyal customers.

This exercise requires knowledge and application of the concepts related to entrepreneurial adaptability.   Step 1 Read the question.   Step 2 Review the principles related to entrepreneurship.   The opening of a new store could be a risky decision. This action would change the company's business model through adding a new distribution channel and could cause competition with existing channels such as the Native American hotels and resorts and create channel conflict.