Assignment:
Question 1. Prioritizing. Read the Forbes article, “A Simple Model for Business Planning.” Financial decisions must be made continuously by entrepreneurs. After reading the Parrish article, you will be aware of several financial concerns faced by business owners. Place yourself in the role of an entrepreneur. Taxes are due in three days and employee paychecks must be issued in five days. However, the company does not have enough money to cover both expenses. Discuss how you would handle this situation. How will you solve this financial crisis?
Question 2. International Entrepreneurship. Research two countries in the same region of the world (e.g., Europe, Middle East). Identify the levels of entrepreneurial activity and the challenges/problems that may be faced by an entrepreneur in those countries (e.g., laws, financing).
Question 3. Balanced Scorecard. Visit the Balanced Scorecard Institute. If you were to develop a balanced scorecard for your entrepreneurial venture, identify one objective for each of the four perspectives. Why did you select that objective? How will it be measured?
Question 4. Influence of Context. Read the three web chapters in Part Six of the text on how the environmental context (technology, small business and non-profit) influences the strategic management process. Identify two key factors from each context that you believe would be the most influential on the process. Indicate why you selected those factors.