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The Entreprenuer as a Strategist

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Please select and answer one of the following questions in a well-organized and thoughtful research paper. Research paper title page and reference page are not included in the required paper length

Present a short summary of the major Board recommendations.

Please add additional recommendations not included in the list if you feel they are important in bringing about positive change within your organization or the selected organization. You can use appropriate illustrations, charts, graphs etc. in your paper. Use creativity and imagination in your paper.

The entrepreneur as a strategist is: "Often described as a person who organizes and manages a business undertaking and who assumes risk for the sake of profit, an entrepreneur is the ultimate strategist.", Page 319 in the text. This individual makes all the strategic management and operational decisions for the company. America was built on small business ventures.

You are considering opening your own small business. For you to become an entrepreneur you must consider both personal and external conditions plus other critical factors before embarking on this new business enterprise.

In a well organized paper:

Assess and describe whether or not you have the personality, skills and goals to become a successful entrepreneur.
Select a business idea or concept by examining and describing its feasibility and validity- Describe the businesses products or services of your venture.
Carefully analyze the market with a TOWS matrix analysis.
Who are the potential customers?
Develop a well thought out strategic business plan- See Page 322.
Secure financial resources- state where you would seek financial help.
How much money will you need for this new venture?
Create an organizational structure with an explanation of the chart or structure.
Present a short summary of the proposed venture.

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It is my goal to provide ideas, definitions, research help, and instructions on how you, the student, should approach the assignment.

The assignment requires to you come up with an original idea, of course, but I will go step by step here and use myself as an example, and explain how to do some of the concepts involved.

Assess and describe whether or not you have the personality, skills and goals to become a successful entrepreneur.
-Clearly, you need to decide if you have the personality to do it. Entrepreneurs are visionaries, risk-takers, and work well under an enormous amount of pressure. You also need to know something about what you are doing, and you should have the skills and knowledge necessary to run a business. If you don't, you should know how to acquire those skills. I have worked in corporate settings, in the travel industry, and I have experience with customer service, internet marketing/usage, etc. I am also extremely patient. We have all heard stories of entrepreneurs with great ideas, who build a website, do some marketing, and have a team of people sitting in the room when the site and phone lines go live........and then nothing happens. This is the norm, and not the exception. That experience alone can put a big damper on the excitement of the people involved and cause a lot of stress. In my case, it was 3 weeks before the phone rang, and almost 2 months before the reservation was completed (I own a luxury car rental company). You also must be an avid planner. Looking years down the line is a requirement. I decided while my organization was in its infancy, that I would attend Harvard for an MBA, and acquire the skills I didn't already have. I also ...

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Entrepreneur Options for an Exit Strategy

What options do entrepreneurs have for an exit strategy as their venture become promising, and what are the considerations they must take into account for the various options?

List the various options that entrepreneurs have for exit strategies, i.e., to leave the business and recoup their investment.
Give an explanation of each option, along with the pros and cons of each option.
Are there any options that is preferred for particular kinds of companies, e.g., IPO for high tech, flip (sell) for service organizations, etc.?

Here are the resources used to answer this question below...

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MacMillan, D. & Burrows, P. (2009, November 2). The app economy. Business Week, 4153. Retrieved May 26, 2011 from http://www.businessweek.com/magazine/content/09_44/b4153044881892.htm.

Thornton, E., & Cady, J. (2008, December 8). What have you done to my company?. Business Week, 4111, p.40. Retrieved May 26, 2011 from http://www.businessweek.com/magazine/content/08_49/b4111040876189.htm?chan=magazine+channel_in+depth.

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