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14.7: Discussion Questions

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    52123
    • Michael Laverty and Chris Littel et al.
    • OpenStax

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    1.

    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.

    This page titled 14.7: Discussion Questions was last modified on Mon, 23 Nov 2020 22:05:40 GMT and is shared under a CC BY 4.0 license and was authored, remixed, and/or curated by Michael Laverty and Chris Littel et al. (OpenStax) via source content that was edited to the style and standards of the LibreTexts platform.