Business, 10.11.2020 18:30 megankbrown

1. Donald is aggressive and smart, but he's bored at his job. He wants to pursue his dream of starting a burger joint called "Donald Mac's." His business plan is
to open six stores in 12 months. All he needs is money—other people's money.
Everyone says that finding investors is the only way to go, the shortcut to
success, wealth with no risk. So he buys a coat and tie, shines his shoes, and hits
the streets, looking for investors. He comes to you. You like his idea, but are his
plans sound? What do you think?

Answers: 2

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Answers

Answer from: AdrienneFaye

Donald's plans are not sound.

There is more to running a business than opening six stores in 12 months. How does he want to ensure that these stores will be opened and will become viable, attractive to customers, and be able to meet customers' needs.

Explanation:

A business does not exist in isolation. It exists for a purpose. The overarching purpose is to satisfy the needs of its customers. But, first things first. Is there a viable market for Donald's business ideas? Has Donald determined the size of this market? Is the market sustainable? What are the barriers for new entrants? What competition does this business face? What competitive advantage or otherwise will Donald Mac's enjoy or suffer? How can Donald Mac's overcome its competitive challenges? Can Donald show the cash flow projections for the proposed business? This and more pertinent questions need to be answered in the business plan, to make it sound convincing before potential investors.

Answer from: Quest

1 all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

Answer from: Quest

the law, public safety, corrections, and security cluster prepares people for careers in planning, managing, and providing legal, public safety, protective services and homeland security, including professional and technical support services.

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