Textbook:-
Scarborough, N.M. & Cornwall, J. (2015). Entrepreneurship and effective small business management (11th ed.). Upper Saddle River, NJ: Prentice Hall. ISBN: 9780133506327 (print); 9780133508239 (e-text).
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?
2. describe the role of the following groups in entrepreneurship: women, minorities, immigrants, part-timers, home-based business owners, family business owners
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.
Companys 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?
Important Notes: –
Support your answers with course material concepts, principles, and theories from the textbook and scholarly, peer-reviewed journal articles etc.