buss 5 hw.docx - BUSN-101 Assignment#5 1 Describe how a...

Info icon This preview shows pages 1–3. Sign up to view the full content.

BUSN-101 Assignment #5 10/10/2014 1. Describe how a small business might use innovation to create new jobs. Small business can make new properties and services or recover goods and facilities that have already occurred to create new jobs. Small business has a lot of liberty. Small business creates a person very creative and reliable. Small business also donated to the economy by hiring workers who usually have had trouble searching jobs at huge firms, such as, armed experts returning to the work force, and labors with numerous challenges. The small business organization provides inducements for firms to hair these types of staffs. 2. Why do so many small businesses fail before they reach their tenth year? There are many exterior reasons for small business failure, entering bazaar size and buyer demand, but other equally important issues can shuffle a business in its earliest stages and prove deadly in the long run. Here are some reasons why small businesses fail: a. Flaws in entrepreneurial thinking b. Lack of money c. Poor planning d. Wrong location e. Ineffective marketing f. Hiring the wrong person g. Miscalculating the competition. h. Uncontrolled growth i. Financial neglect 3. What are the benefits of developing and writing an effective business plan? The benefits of having a business plan:
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

* Helping you to explain your vision and deciding whether or not to forge ahead with the idea. * Defining if your product or facility has an enough market to support it and whether or not it will be beneficial. * Providing an estimate of your start-up budgets and how much you'll need to provide or investment. * Convincing savers and lenders to fund your business. * Outlining your target market (who your customs are or will
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.
  • Fall '14
  • Monga
  • Business, Corporation, Small business Administration

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern