SAN JOSE CITY COLLEGE

BUSINESS 82 -- INTRODUCTION TO BUSINESS, ITS STRICTLY BUSINESS

COURSE SYLLABUS
Bus-082: Introduction to Business
3.0 units
COURSE DESCRIPTION:
This course introduces students to understand the business unctions and !ractices as the" ha#e
de#e$o!ed o#er ti%e in the U&S& econo%ic s"ste%& Students 'i$$ be introduced to to!ics inc$udin(
or(ani)ationa$ structure and beha#ior* %ana(e%ent* %ar+etin(* inancia$ and accountin(* o!erations and
inor%ation s"ste%s and ethica$ res!onsibi$ities o cor!orations& S!ecia$ e%!hasis 'i$$ be !$aced in the
e%er(ence o ($oba$ business* its i%!act and the si(niicance o s%a$$ businesses&
PROFESSOR: ,o%oh T& Lahai
O--ICE: .RG /00 E1ERGREEN2
PHONE: .0342 /546/747 e8t& 9:9: ./0 hour #oice %ai$2
.0342 599649:; Ce$$
E-MAIL: ,o%oh&$ahai<s=cc&edu
REQUIRED BOOKS AND MATERIALS:
7& Understandin( >usiness* 5
th
edition or hi(her b" Nic+e$s* ,c?u(h* and ,c?u(h&
.IS>N 363@6/;94@:6@ 'ithout CD2
/& Scantron test ans'er or%s .or% A 44/2
ALSO REQUIRED: E6%ai$ B Internet access .at 'or+* ho%e* OR a#ai$ab$e fr at the SJCC $ibrar" B
co%!uter $abs&2& You %ust read "our e%ai$ at $east t'ice !er 'ee+&
CLASS MEETIN!S AND OTHER IMPORTANT DATES:
T"r #$%% & '( E)'* +r, #- , '(. ' f$('% $( #- / 01ULY 22, 23456
Very Important Class! >e(in 'or+ on indi#idua$ or (rou! !ro=ects ro% 'ee+ / o su%%er session
C78r9 R8%9:
Students are reCuired to attend a$$ $ectures and %ust be on ti%e& An" student 'ho is absent the nu%ber o
ti%es the c$ass %eets in one 'ee+ is sub=ect to disCua$iication&
Late 'or+ is acce!ted u! to i#e da"s ater due date or on$" @;D o intended (rade& No $ate 'or+ is acce!ted ater
i#e da"s* un$ess !rior a!!ro#a$ ro% the instructor&
There shou$d be three %a=or 'ritten e8a%inations co#erin( $ectures durin( the course& Students %ust !ass to recei#e
a !assin( (rade or the course&
>us& 4/ !a(e /
D$9'&$%$:,: I "ou ha#e a disabi$it"* !$ease $et the instructor +no' 'hat acco%%odations "ou %a" need to be
successu$ in this course&
I*;7r:'(< 7f A<'.*$< H7(9:,: Cheatin(* co!"in( OR he$!in( others cheat or co!" on a ho%e'or+
assi(n%ent or e8a% 'i$$ not be to$erated and 'i$$ resu$t in a !artia$ or tota$ $oss o !oints on
that 'or+ or ALL students in#o$#ed& In addition* students %a" be sus!ended ro% the
course and disci!$ined b" Co$$e(e ad%inistrators& Students sha$$ routine$" be as+ed to sho'
a !hoto ID .such as a dri#erEs $icense2 'hen ta+in( e8a%s and (i#in( s!eeches&
Withdrawal Policy: I "ou decide to dro! the c$ass* it is YOUR RESPONSI>ILITY to see that
"ou are oicia$$" dro!!ed b" .a2 noti"in( the instructor* !reerab$" in 'ritin(* or .b2 ca$$in(
StaRe( at .0342 //963933*OR .c2 (oin( on$ine to htt!:FFGebRe(&s=eccd&or(& Your transcri!t
'i$$ sho' a HGI (rade i "ou dro! it b" reCuired date& Later date dro!s 'i$$ resu$t in an H-I
(rade in the course .'ith rare e8ce!tions2&
WEEK TOPICS
CHAPTER
ASSIGNMENT
7
Introduction to Course and Te8t
Ta+in( Ris+s and ,a+in( Proits 'ithin the D"na%ic
>usiness En#iron%ent
Understandin( ?o' Econo%ics Aects >usiness
P* 7* /
7
Understandin( ?o' Econo%ics Aects >usiness .continued2
Doin( >usiness in G$oba$ ,ar+ets
De%andin( Ethica$ and Socia$$" Res!onsib$e >eha#ior
/* 9* 0
/
De%andin( Ethica$ and Socia$$" Res!onsib$e >eha#ior
.continued2
?o' to -or% a >usiness
0* ;
/
?o' to -or% a >usiness .continued2
Entre!reneurshi! and Startin( a S%a$$ >usiness
Section Re#ie' and Reca!
;* :
9
,ana(e%ent and Leadershi!
Ada!tin( Or(ani)ations to Toda"Es ,ar+ets
@* 4
9
Ada!tin( Or(ani)ations to Toda"Es ,ar+ets .continued2
Production and O!erations ,ana(e%ent
Section Re#ie' and Reca!
4* 5
0
,oti#atin( E%!$o"ees and >ui$din( Se$6,ana(ed Tea%s 73* 77
WEEK TOPICS
CHAPTER
ASSIGNMENT
?u%an Resource ,ana(e%ent: -indin( and Jee!in( the >est
E%!$o"ees
0
?u%an Resource ,ana(e%ent: -indin( and Jee!in( the >est
E%!$o"ees .continued2
Dea$in( 'ith E%!$o"ee6,ana(e%ent Issues and Re$ationshi!s
77* 7/
;
Section Re#ie' and Reca!
,ar+etin(: ?e$!in( >u"ers >u"
79
;
De#e$o!in( and Pricin( Goods and Ser#ices
Distributin( Products
70* 7;
:
Usin( Eecti#e Pro%otions
Section Re#ie' and Reca!
7:
:
Understandin( Accountin( and -inancia$ Inor%ation 7@
:
-inancia$ ,ana(e%ent
74
COURSE DESCRIPTION:
This course introduces students to understand the business unctions and !ractices as the" ha#e
de#e$o!ed o#er ti%e in the U&S& econo%ic s"ste%& Students 'i$$ be introduced to to!ics inc$udin(
or(ani)ationa$ structure and beha#ior* %ana(e%ent* %ar+etin(* inancia$ and accountin(* o!erations
and inor%ation s"ste%s and ethica$ res!onsibi$ities o cor!orations& S!ecia$ e%!hasis 'i$$ be
!$aced in the e%er(ence o ($oba$ business* its i%!act and the si(niicance o s%a$$ businesses&
COURSE CONTENT:
7& Conte%!orar" >usiness En#iron%ent
/& The G$oba$ >usiness En#iron%ent
9& >usiness Ethics and Socia$ Res!onsibi$it"
0& >usiness ,ana(e%ent
;& ?u%an Resources ,ana(e%ent
:& ,ar+etin( ,ana(e%ent
@& O!erations and Inor%ation ,ana(e%ent
4& Accountin( and -inancia$ ,ana(e%ent
>us& 4/ !a(e 0
COURSE OB1ECTI=ES:
U!on co%!$etion o this course* the student 'i$$ be ab$e to:
7& Describe the %acrocos%ic condition o conte%!orar" business en#iron%ent&
/& Co%!are and contrast the U&S& econo%ic s"ste% and other !arts o the 'or$d&
9& Describe the internationa$ business en#iron%ent and critica$ issues e#o$#in( trade&
0& Discuss the e%er(ence o ($oba$ econo%" and its i%!$ications to the U&S&
;& Identi" the ro$e o business or(ani)ations and its res!onsibi$ities to the societ"&
:& Deine the sco!e o %ana(e%ent ro% the !rocess to its structure&
@& E8!ress the essence o business !$annin(&
4& De%onstrate the !rocess o decision6%a+in(&
5& Discuss the ro$e o entre!reneurshi! and its i%!act to the U&S& businesses&
73& Dierentiate entre!reneurshi!* entre!reneurshi! and s%a$$ business&
77& E8a%ine dierent %oti#ationa$ theories and its re$ationshi! to e%!$o"ee !eror%ance and
satisaction&
7/& Ana$")e the dierent $eadershi! st"$es and its re$ationshi! to e%!$o"ee %oti#ation&
79& >us& 4/ !a(e 0
42> E)'*$( :" ;r7<99 7f "8*'( r978r<9 ;%'(($(? '(. 9:'ff$(? $( &89$(99>
70& E8a%ine $e(a$ and socia$ cha$$en(es re$atin( to conte%!orar" 'or+orce and business&
7;& Describe the ro$es o the $abor union and e8a%ine the co$$ecti#e bar(ainin( !rocess&
7:& E8a%ine the ro$e o %ar+etin( as a business unction and re$ate to the de#e$o!%ent o %ar+etin(
strate(ies&
7@& Describe the !rocess o!erations !$annin( e8a%ine the i%!ortance o Cua$it" %ana(e%ent&
74& Distin(uish the dierence bet'een accountin( and inancia$ unctions and its i%!ortance in a
successu$ business&
75& Discuss the U&S& inancia$ s"ste% and the ro$e o the -edera$ Reser#e S"ste%&
E@AMINATIONS AND CLASS SESSIONS:
Each o the three e8a%s 'i$$ contain %u$ti!$e choice and true6a$se Cuestions e%!hasi)in( the te8t&
C$ass %eetin(s 'i$$ be conducted on the San Jose Cit" Co$$e(e ca%!us beore each schedu$ed e8a%&
Attendance at these sessions is STRONGLY RECO,,ENDED* a$thou(h not reCuired& The !roessor
'i$$ (i#e "ou an o!!ortunit" to %eet 'ith "our business !$an !ro=ect (rou! %e%bers* and 'i$$ ans'er
an" Cuestions "ou %i(ht ha#e about the %ateria$ or the ho%e'or+&
Students ,UST TAJE ALL EKA,S& ,a+e6u! e8a%s %a" be arran(ed i the student has a #a$id
e8cuse or %issin( the schedu$ed e8a%&
A student %a" be dro!!ed ro% the course or %issin( an e8a% and ai$in( to noti" the instructor 'ithin
; schoo$ da"s o$$o'in( the e8a%&
>us& 4/ !a(e ;
ASSI!NMENTS:
You are reCuired to co%!$ete and turn in the assi(n%ents !$us an" others announced in or e6%ai$ed to
"ou& Note the due dates& Points are deducted or $ate 'or+* i&e&* 'or+ recei#ed in %" %ai$bo8 ater the
due date* re(ard$ess o 'hen it 'as sent or 'h" it 'as $ate& In no case 'i$$ 'or+ be acce!ted %ore than
/ 'ee+s ater the due date&
?O,EGORJ ,UST >E TYPED and %ust be sub%itted in the !ro!er or%at as instructed& On a$$
assi(n%ents* t"!e "our irst and $ast na%es* H>usiness 4/ Te$ecourse*I na%eFdescri!tion o the
assi(n%ent* and due date in the u!!er ri(ht hand corner o the irst !a(e o each assi(n%ent& I itEs %ore
than one !a(e* sta!$e in the u!!er $et corner and sub%it on$" the sta!$ed* t"!ed sheets6do NOT !$ace
ho%e'or+ in a o$der or re!ort co#er& A$$ 'ritten 'or+ shou$d be chec+ed or s!e$$in( and (ra%%ar
errors and re6t"!ed i necessar" beore "ou turn it in& You shou$d as+ so%eone e$se 'ho has (ood
En($ish 'ritin( s+i$$s to he$! "ou 'ith this since itEs oten hard or us to see our o'n %ista+es& A$$
ho%e'or+ 'i$$ be (raded on the o$$o'in( criteria:
.72 conor%it" to the directions and reCuire%ents o the assi(n%entL
./2 thorou(h co#era(e and a!!arent understandin( o the assi(n%entL
.92 ori(ina$it" and thou(htu$nessL
.02 neatness o t"!in(L
.;2 e' or no s!e$$in( and (ra%%ar errorsL
.:2 co$$e(e $e#e$ 'or+L
.@2 a!!ro!riate $en(th .not too $on( or short2L
A$'a"s sa#e assi(n%ents and ho%e'or+ in a co%!uter i$e* OR %a+e a !hotoco!" or "ourse$& Jee!
the bac+u! co!ies unti$ the end o the se%ester 'hen "ou #eri" "our (rades .=ust in case ho%e'or+ (ets
$ost in transit to %e2& I 'i$$ +ee! so%e o "our ho%e'or+ assi(n%ents or %" recordsL i so* "ou 'i$$
recei#e on$" a (rade su%%ar"* not the ori(ina$ 'or+ sub%itted& DO NOT COPY an" !art o "our
ho%e'or+ ro% the Internet* a boo+* or %a(a)ine& DO NOT COPY an" !art o "our ho%e'or+ ro%
another student* !ast or !resentL co!"in( 'i$$ resu$t in an - (rade or both or a$$ students in#o$#ed&
HOA TO SUBMIT HOMEAORK '(. ASSI!NMENTS: Assi(n%ents S?OULD be >ROUG?T to
c$ass or be hand carried to ,o%oh LahaiEs %ai$bo8 in the Re!ro(ra!hics .o!en ,on&6-rida"&4 :33 a&%&
to ::33 !&%&2&
DO NOT -AK ANY GORJ TO ,E&
>us& 4/ !a(e :
!RADIN!
Grades 'i$$ be deter%ined b" studentsE !eror%ance on the 9 e8a%inations and : ho%e'or+
assi(n%ents& Points are assi(ned as o$$o's:
73 In c$ass tests& 7333 !oints
,idter% e8a%& 733 !oints
Stoc+ ,ar+et Trac+in( ;3 !oints
Inter#ie' ;3 !oints
Se%ester Pro=ect& /;3 !oints
-ina$ E8a%& 7;3 !oints
Tota$ Possib$e M 7:;3 !oints
Your -ina$ Grade 'i$$ be based on H DI o a$$ !oints earned as o$$o's:
576733D M A :76@3D M D
47653D M > 36;5D M -
@7643D M C
COMMUNICATION AND NEASLETTER:
The instructor needs to +no' i there are an" !articu$ar !rob$e%s "ou are e8!eriencin( 'hich %a" aect
"our c$ass !eror%ance& ?e %a" be ab$e to %a+e su((estions* reer "ou to others or he$!* or inter#ene
in so%e 'a"& The ear$ier "ou discuss these %atters !ri#ate$" 'ith the instructor* the %ore $i+e$" it is that
a satisactor" so$ution can be ound& A$so* i "ou ha#e a $earnin( disabi$it" or !h"sica$ need that 'i$$
reCuire s!ecia$ acco%%odations in this c$ass* !$ease %a+e an a!!oint%ent 'ith the Disab$ed Students
Pro(ra%&
The instructor 'i$$ !eriodica$$" send "ou a course ne's$etter #ia e6%ai$ containin( i%!ortant
inor%ation inc$udin( detai$s o ho%e'or+ assi(n%ent reCuire%ents* roo% $ocations or Re#ie'
Sessions or E8a%s* re%inders* test resu$ts* etc&
C?ANGES IN T?IS SYLLA>US
It %a" be necessar" to %a+e chan(es in the course s"$$abus or reCuire%ents and i so* students 'i$$ be
notiied b" e6%ai$&
ASSINGMENT # 1 S:7<- Tr'<-$(? R;7r:9:- D8 #- / 0BC24C456
The !ur!ose o this assi(n%ent is to trac+ the stoc+s o 9 co%!anies o#er a !eriod o se#en 'ee+s& The
stoc+s chosen are to be traded on the New York Stock Exchane !NYSE"# Amer$can Stock Exchane !AME%" or
the Nat$onal Assoc$at$on o& Sec'r$t$es (ealers A'tomate) *'otat$on 0NAS(A*"& You can ind the stoc+s in the
business section o the San Jose ,ercur" Ne's* the Ga$$ Street Journa$* In#estorNs >usiness Dai$"* or si%i$ar
!ub$ications& The Internet is a$so a (ood !$ace to $oo+& Trac+ and record "our chosen stoc+s usin( the o$$o'in(
criteria&
>us& 4/ !a(e @
You 'i$$ ha#e +1,#,,, o !$a" %one" to bu" !ub$ic$" traded stoc+s .donNt send %e the bi$$2O Ghen bu"in(
stoc+s* assu%e that there are no transaction ees to bu" or se$$ the stoc+& Re%e%ber* co%e as c$ose to
bu"in( as %an" shares o stoc+ as "ou can 'hi$e usin( u! a$$ o the +1,#,,, a$$ocated or this
assi(n%ent&
Each c$ass %e%ber 'i$$ !urchase dierent stoc+s ."our $ist ,AY NOT %atch that o an"one e$se in c$ass2&
The stoc+s chosen or this !ro=ect are "our !reerence& The Cuantit" o shares o stoc+ "ou !urchase
doesnNt ha#e to be the sa%e or a$$ stoc+s !urchased& DonNt bu" a$$ the sa%e t"!es o stoc+s& -or
e8a%!$eL "ou cou$d bu" the stoc+ o one co%!an" in the hi(h techno$o(" industr"* another in
s!ortin( (oods* or !erha!s ban+in( and inance& These are =ust e8a%!$es66choose "our o'n
industries& Your se$ections shou$d be di#erse&
Trac+ each stoc+ b" its uniCue tradin( s"%bo$& -or e8a%!$esL Internationa$ >usiness ,achine Cor!oration
uses . IBM 6* Inte$ Cor!oration uses . INTC 2 or Genera$ ,otors Cor!oration uses .!M 2&
P$ot the status o each co%!an" stoc+ usin( an E8ce$ s!read sheet st"$e re!ort& Pic+ one da" o the 'ee+ .a
Tuesda" or a -rida"* or e8a%!$e2* then +ee! trac+ o the c$osin( !rice or that da" e#er" 'ee+ or @
'ee+s ro% "our start date& At the end o the se#en6'ee+ !eriod* indicate i the in#est%ent 'as a
!ositi#e or a ne(ati#e (ain or each co%!an"Ns stoc+& Co%!ute the !ercenta(e o (ain or $oss or each
Your re!ort %ust inc$ude (ra!hs or the stoc+s&
1ERY I,PORTANT&
You ,ust trac+ "our stoc+s or !rices on the o$$o'in( dates&72 -rida"*
:F/3F70L /2 Tuesda"* :F/0F70L 92 -rida"* :F/@F70L 02 Tuesda" @F7F70
;2 Tuesda" @F4F70 :2 -rida"* @F77F70 @2 Tuesda"*@F7;F70
ASSINGMENT # -..T/0 INTE1VIE/ 1E201TS3. ('e 451,516
INSTRUCTIONS:
Sub%it a 'ritten re!ort o inter#ie's 'ith / dierent !ersons 'or+in( in the business 'or$d inc$udin(
.A2 an o'ner o a s%a$$ business and .>2 a %ana(er in a $ar(e business or(ani)ation& The re!ort o
EAC? INTER1IEG shou$d be about / !a(es in $en(th .t"!e'ritten* doub$e6s!aced2& Ghen t"!in( "our
re!ort* "ou do not ha#e to restate the Cuestions be$o'& Just t"!e the NU,>ER o the Cuestion and then
(i#e the ans'er& P$ease note the due date in "our course s"$$abus& This assi(n%ent counts hea#i$" in
"our ina$ course (rade&
A> SMALL BUSINESS OANER& E8a%!$es: O'ner o a nurser"* restaurant* con#enience ood
store .@677* etc&2* rea$ estate co%!an"* ba+er"* #ideo renta$ store* insurance co%!an"* art (a$$er"*
beaut" sa$on* boo+ store* bui$din( contractor* (ardenin( ser#ice* a!art%ent o'ner* etc& As+ the
instructor or %ore ideas or the na%e o so%eone to inter#ie'&
>us& 4/ !a(e 4
INTER=IEA QUESTIONS:
7& Na%e o !erson inter#ie'ed* tit$e* co%!an" na%e* co%!an" address and !hone nu%ber&
/& Gh" did "ou (o into business or "ourse$P ?o' $on( ha#e "ou been in businessP
9& Gh" did "ou choose this !articu$ar +ind o businessP
0& Ghich t"!e o o'nershi! is the business o!eratin( under .so$e !ro!rietorshi!* !artnershi!* or
cor!orationP2
;& Ghat !rob$e%s did "ou encounter in startin( "our businessP .E8a%!$es: obtainin( %one"*
indin( the ri(ht $ocation* attractin( custo%ers* (ettin( (ood e%!$o"ees* co$$ectin( %one" ro%
c$ients* etc&2 List at $east 9 or 0 !rob$e%s&
:& To 'hat e8tent is "our business aected b" (enera$ econo%ic conditions* such as a recessionP
@& ?o' %uch co%!etition is there in "our t"!e o business and 'hat do "ou do to co%!ete 'ith the
othersP .E8a%!$es: better ser#ice* $o'er !rices* ad#ertisin(* $on(er hours* etc&2
4& Ghat ad#ice 'ou$d "ou (i#e to so%eone 'antin( to (o into business toda"P
B> MANA!ER IN A LAR!E BUSINESS OR!ANIDATION& E8a%!$es: ,ana(er o a ban+
branch* retai$ chain store .Sae'a"* Lon(Es* ,ac"Es* Orchard Su!!$"* J ,art* etc&2*
%anuacturin( !$ant .I>,* Loc+heed* G&E&* Inte$* etc&2* uti$it" co%!an" .PGBE* Paciic >e$$*
San Jose Gater Co%!an"* etc&2* (o#ern%ent a(enc" .socia$ ser#ices* ta8 assessorEs oice* etc&2*
educationa$ institution .!ub$ic or !ri#ate schoo$ or co$$e(e2* stoc+ bro+era(e ir%* hos!ita$* etc&
A(ain* ee$ ree to as+ the instructor or su((estions&
INTER=IEA QUESTIONS:
7& Na%e o !erson inter#ie'ed* tit$e* co%!an" na%e* co%!an" address and !hone nu%ber&
/& Is this a !roit6%a+in( or non6!roit co%!an"P Ghich t"!e o o'nershi! is the business
o!eratin( underP
9& ?o' did "ou obtain this %ana(e%ent !ositionL that is* 'hat bac+(round and e8!erience enab$ed
"ou to (et the =obP ?o' $on( ha#e "ou been a %ana(erP
0& Ghat s+i$$s* abi$ities* and +no'$ed(e are %ost i%!ortant in successu$$" !eror%in( "our =obP
;& Ghat +inds o !rob$e%s do "ou s!end %ost o "our ti%e onP .E8a%!$es: !$annin(* bud(etin(*
custo%er re$ations* !ersonne$* Cua$it" contro$* re!ort6'ritin(* etc&2
:& Ghat %a=or chan(es do "ou antici!ate in "our industr" in the ne8t ;673 "earsP .E8a%!$es:
co%!uteri)ation* (o#ern%ent re(u$ations* %ore orei(n co%!etition* chan(in( 'or+orce*
en#iron%enta$ !rob$e%s* decreased de%and or "our !roduct* techno$o(" chan(e* etc&2
@& To 'hat e8tent is "our business aected b" (enera$ econo%ic conditions* such as a recessionP
7& Ghat ad#ice 'ou$d "ou (i#e to so%eone 'antin( to (o into %ana(e%ent toda"P
>us& 4/ !a(e 5
ASSI!NMENT 2 S*9:r ;r7E<:> D8 #- F 018%, 4B
:"
23456
Think of a business for this project, think it
through and write a project paper addressing a
areas beow.
4> H7# $9 $: .$ffr(:G A"': *'-9 ,78 :"$(- :"': ,78r &89$(99
$9 8($H8G
Your under$"in( business idea doesnEt need to be ori(ina$* but
"ou need to estab$ish uniCue se$$in( !oints .USPs2 i "ou 'ant !eo!$e to bu" ro% "ou
rather than "our co%!etitors&
You ha#e to oer so%ethin( ne' or a uniCue 'a" o oerin( 'hat "ou ha#e in %ind&
Is "our !ro!osition so$#in( a !rob$e%P Ghat +ind o !rob$e% 'i$$ "our idea so$#eP
Are "ou i$$in( a (a! in the %ar+et* or 'hat is %issin( in the distribution chainP
>ui$din( on an e8istin( oerin(P Are "ou inno#atin( an e8istin( !roduct or ser#iceP
2> I9 :"r ' *'r-:, '(. $9 $: &$? (78?" f7r ,78r $.'G
Thorou(h %ar+et research is needed beore %o#in( or'ard 'ith "our business idea& Do
or 'i$$ !eo!$e NEEd "our !roduct or ser#iceP
Gho 'i$$ need it and 'h"P Is there an" substitute that can so$#e the sa%e needP
?o' %uch 'i$$ the" need itP Is this a one-time need or this is an ongoing need?
You need to ensure there 'i$$ be suicient Q and sustainab$e Q de%and to su!!ort "our
business and enab$e it to thri#e* (ro' and e8!and&
>us& 4/ !a(e 73
2> A"':9 :" &89$(99 *7.%G
?o' %uch 'i$$ "ou char(e "our custo%ers* and 'h" P Thin+ o su!!$" and de%and&
Can "ou thin+ o additiona$ re#enue strea%sP Ghat i%!ro#e%ent can "ou %a+e in the
business to sta" in the nu%ber one !osition in "our custo%erEs %indP
Research is #ita$ to deter%ine 'hether "our business %ode$ is #iab$eL this shou$d inc$ude
ana$"sis o ho' "our co%!etitors ha#e structured their businesses&
The most common forms of business are sole proprietorship, partnership, corporation and S corporation. A
more recent development to these forms of business is the limited liability company (LLC) and the limited
liability partnership (LLP). Because each business form comes ith different ta! conse"uences, you ill
ant to ma#e your selection isely and choose the structure that most closely matches your business$s
needs.
%ead more& http&''.entrepreneur.com'article'()**+,i!--./0sf1fB"
5> I9 :" ;r$< r$?":G T"$(- '&78: :" 5P9- ;r7.8<:, ;r$<, ;%'<,
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ItEs no (ood ha#in( a 'innin( !roduct or ser#ice i "our custo%ers canEt aord to !a" or
it& ?o'e#er* "ou need a decent %ar(in .!roit2 or a sustainab$e business&
Ta$+ to "our !otentia$ custo%ers to ind out 'hether the !ricin( is easib$e&
F> A"': #$%% 9:7; 7:"r9 fr7* <7;,$(? ,78G
I "ouE#e e#er 'atched Dra(onsE Den "ouE$$ ha#e heard no doubt heard this Cuestion:
RGhatEs to sto! a bi( co%!an" co%in( a$on( and stea$in( "our ideaPE
?a#e stron( USPs Q such as e8ce!tiona$ custo%er ser#ice Q and 'here#er "ou can !rotect
"our inte$$ectua$ !ro!ert"& Can "ou inno#ateP
>us& 4/ !a(e 77
/> D7 ,78 -(7# ,78r <89:7*rG
Ar% "ourse$ 'ith as %uch inor%ation as "ou !ossib$" can about "our tar(et custo%er*
and $isten to the% at e#er" o!!ortunit"&
Ghat does a t"!ica$ custo%er $oo+ $i+eP
?o' do the" beha#eP
Ghat do the" %ost #a$ue ro% a !roduct or ser#ice $i+e "oursP
Ghere can "ou ind the%P This is about ad#ertise%ent and !ro%otion %edia&
Ghat %ar+etin( %ethods do the" res!ond toP
B> C'( ,78 *'- ' ;r7f$:G
?o' %uch 'i$$ it cost to !roduce "our idea and (et "our !otentia$ custo%ers e8citedP
.Su!!$" chain %ana(e%ent: ta+in( into account
%anuacturin(
trans!ortation
su!!$ier costs ra' %ateria$* or se%i6inished !roducts&
sa$ariesL
o#erheadsL
oice eCui!%ent* etc2P
?o' %uch can "ou se$$ "our !roduct or ser#ice or* and ho' %uch do "ou need to se$$ to
not on$" co#er "our costs* but %a+e a !roitP
Is this achie#ab$eP
>us& 4/ !a(e 7/
8> D7 ,78 "'+ 98ff$<$(: f8(.$(? :7 ?: :" +(:8r 7ff :"
?r78(.G
You need enou(h cash to su!!ort "ourse$ and "our business unti$ it beco%es sustainab$e&
I "ou donEt ha#e the undin( in !$ace* can "ou raise itP
?o'P
-a%i$" undin(
>an+s or inancia$ institutions
I> D7 ,78 "'+ :" (<99'r, );r$(<, '::$:8. '(. 9-$%%9 :7
;8%% $: 7ffG
E#en i "ou ha#e the best idea in the 'or$d* 'ithout
the !assion*
dri#e and
co%%it%ent to see it throu(h*
sound $eadershi!* and eecti#e %ana(e%ent
it sti$$ stands a #er" (ood chance o ai$in(&
43> I9 :"r 9<7; f7r ?r7#:"G
Can "ou e8!and on "our idea in the uture
b" addin( ne' !roducts or ser#ices*
enterin( ne' $ocations*
or i%!ro#in( "our ori(ina$ !ro!ositionP