February 22, 2017

Homework Help: Business

Posted by Terry on Thursday, June 6, 2013 at 6:36pm.

Please edit my answers below the questions for correct sentencing

In the following statement, a business owner attempts to explain and justify his slow growth in his business.

I limit my growth pace and every effort to service my present customers in the manner they deserve. I have some peer pressure to do otherwise by following the advice of experts that is to take on partners and debt to facilitate rapid growth in sale and market share. When tempted by such thoughts I think about what I might gain. Perhaps I would make more money, but I would also expect a lot more problems. Also I think it might interfere with my family relationships, which are more important to me.

1. Should this venture be regarded as entrepreneurial? Is the owner a true entrepreneur?

2. Do you agree with the philosophy expressed here? Is the owner really doing what is best for his family?

3.What kinds of problems is the owner trying to avoid?

My answers:

1. After careful reading I do believe the venture shall be regarded as entrepreneurial. The owner is a true entrepreneur. In the article “Work Less (It’s Good for Business)” goes to show that you don’t have to overwork yourself and values are essential. Prior to being an entrepreneur the owner had a major health scare that landed him in the hospital for 4 months he was overworked. David Port in Longbenbecker, Petty, Palich and Hoy 2012 pp.17.

2. The owner desires to maintain a certain lifestyle people first, family,then money. I agree with the philosophy expressed here. The owner is not only providing service meeting the customers needs, he is in control of his company his company is not in control of him.

3. I believe the owner is trying to avoid the pitfalls of stress that can mount from being overworked. Someone else taking control of his business and free time with his family.

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