ENT1014 - The Ethical & Legal Foundation For Start-UPS & Advantages & Disadvantages of Buying A Franchise - Entrepreneurship Assignment Help

Assignment Task -

SECTION 

Answer TWO (2) questions out of FOUR (4) questions. All questions carry equal marks.

Question 1 

One question that is often asked by people thinking about an entrepreneurial venture is what first-time entrepreneurs should know before they launch. Examine what are the primary reasons for people to become an entrepreneur by using examples, describe the types of startup firms to be considered by an entrepreneur when starting a business.  Critically explain the likely reason(s) for an entrepreneur to start a salary-substitute firm. 

Question 2 

Most entrepreneurs overestimate their knowledge of the legal issues involved with starting and running a business. As a result, it is necessary for an entrepreneur to thoroughly review the legal issues involved to make sure that a costly mistake is not made. Discuss the issues that entrepreneurs should consider in preparing a proper ethical and legal foundation for their start-ups.  

Question 3

Feasibility analysis makes the case as a way of testing the potential viability of a  business idea. It stresses that the proper time to complete a feasibility analysis is after opportunity recognition but before the completion of a business plan. Illustrate what a  feasibility analysis is and why it is important by evaluating nine subcomponents, for example, Product/Service Desirability.  

Question 4

Franchising represents an appropriate growth strategy and the steps to franchising a  business. What are some of the issues an entrepreneur should consider when  answering the question, “Is franchising a good choice for me?” Given many misconceptions about franchising, critically discuss with examples the advantages and disadvantages of BUYING a franchise.

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