14.7: Discussion Questions
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Discuss how a small business can be bootstrapped at its inception. What kind of costs can the entrepreneur avoid or lower with tenacity and sweat equity?
2.If you were to start a small business, what would it be and what kind of resources would you need to get started?
3.Which do you think are more difficult to protect: tangible or intangible resources and why?
4.Discuss how political factors can impact a business.
5.What are some examples of sociocultural factors that may affect a business?
6.Explain how economic factors can increase the price of a product.
7.When is it a good time to hire an independent contractor and when is it a good time to hire an on-staff employee?
8.Explain how resource dependence theory helps a venture grow.
9.Discuss the steps required in hiring new employees. What sorts of factors must you think of before you hire a new team?
10.Discuss the importance of having personal resources, such as a strong support system, when starting a venture.