Entrepreneurs are individuals and companies that create futures that otherwise wouldn't exist. One of the keys to the ability to be successful in this capacity is an understanding of the dynamics of the economic markets in which business is engaged. As part of this session, you have studied three different companies: J&J Snack Foods, Tofutti Brands, and Sanderson Farms.
Your goal was to recognize the relationships between the business organization and operating model and the financial structure of each company. This will be important to your understanding of entrepreneurial finance, because one of the goals of entrepreneurial finance is to be able to identify the elements of your business model and be able to raise enough money to fund it. Unless you know about business models, this can be difficult to do.
Questions:
1. Which of these three companies do you consider to be the most entrepreneurial? What is the basis for your opinion?
2. Where do each of these companies innovate, if they are, in fact, innovative? How does innovation affect their business model and opportunities to succeed?
3. What strengths influence the ability of each of these companies to effectively position themselves in their competitive markets?