Entrepreneurship and Small Business Management
Assignment (I)
1. Are you interested in someday launching a small business? If so, when? What kind of
business? Describe it. What can you do to ensure its success?
2. Discuss why creativity and innovation are very important for the survival and success of
every business in today competitive environment. How are creativity, innovation and
entrepreneurship related?
3. One entrepreneur claims, “Creativity unrelated to a business plan has no value.” What does
he mean? Do you agree?
Assignment (II)
1. Explain how a company can gain a competitive advantage using each of the three strategies:
cost leadership, differentiation, and focus. Give an example of a company that is using each
strategy.
2. Develop a comprehensive business plan for a proposed new business. If necessary, attached
support documents and reference.
3. Describe the three types of franchising and provide an example of each.
4. What comments would you like to make a highly creative and innovative person who was
considering purchasing a franchise?
Assignment (III)
1. Does market research have to be expensive and sophisticated to be valuable? Explain.
2. How to define SMEs in ASEAN countries plus in China, Japan and India. Comment why
these definitions are different and what are the implications of these differences.
3. Outline the key points of 12 ratios. What signals does each give the manager?
4. How can break-even analysis help an entrepreneur planning to lunch a business?