Assignment 1 For this module, you need to complete your first assignment. To complete this assignment, answer these questions: 1. Why is strategic planning important to a small company? 2. What is a competitive advantage? Why is it important for a small business to establish one? 3. What are the steps in the strategic management process? Complete it in a Mircrosoft Word document and submit it through the Dropbox. Be sure to include your name at the top of the document and save the file as module2_lastname.doc. Submit the assignment to the Dropboxno later than Sunday 11:59 PM EST/EDT.(This Dropbox basket is linked to Turnitin.) Assignment 2 Answer the questions for either Choice A or Choice B, but not both. Choice A 1. What advantages can an entrepreneur who buys a business gain over one who starts a business from scratch? 2. How would you go about determining the value of the assets of a business if you were unfamiliar with them? 3. Why do so many entrepreneurs run into trouble when they buy an existing business? Outline the steps involved in the right way to buy a business. Choice B 1. What is franchising? 2. Describe the three types of franchising and give an example of each. 3. How does franchising benefit the franchiser? Complete assignment in a Microsoft Word document and submit it through the Dropbox. Be sure to include your name at the top of the document and save the file as module4_lastname.doc. Submit the assignmentno later than Sunday 11:59 PM EST/EDT.(This Dropbox basket is linked to Turnitin.) Assignment 3 Review your notes from the Activity for this module. Choose a form of legal organization that is most advantageous for the proposed company in your business plan and document the reasons why you think this is the best choice. Also, list the disadvantages of this legal form of organization and address how you will effectively deal with these issues. Make sure to go back and include these strengths and weaknesses issues in your SWOT. Complete it in a Microsoft Word document and submit it through the Dropbox. Be sure to include your name at the top of the document and save the file as module3_lastname.doc. Submit the assignment to the Dropboxno later than Sunday 11:59 PM EST/EDT. (This Dropbox basket is linked to Turnitin.) Assignment 4 For this assignment, please answer these questions: 1. Why is it important for entrepreneurs to develop financial plans for their companies? 2. How should a small business manager use the ratios discussed in this chapter? 3. Outline the key points of the 12 ratios discussed in this chapter. What signals does each give a business owner? Complete it in a Microsoft Word Document and submit it via the Dropbox. Be sure to include your name on the top of the document. Submit the assignmentno later than Sunday 11:59 PM EST/EDT. (This Dropbox basket is linked to Turnitin.) Assignment 5 For this assignment, please answer these questions: 1. What is a marketing plan? What lies at its center? 2. What objectives should a marketing plan accomplish? 3. How can market research benefit a small business owner? List some possible sources of market information. Complete it in a Microsoft Word Document and submit it via the Dropbox. Be sure to include your name on the top of the document. Submit the assignmentno later thanSunday 11:59 PM EST/EDT.(This Dropbox basket is linked to Turnitin.)
