Learning Outcomes:

Describe the place of small business in history and explore the strengths and weaknesses of small business. (CLO1)

Outline the solid understanding of the potential of entrepreneur in today’s competitive business world. (CLO2)

Assignment 2

Reference Source:

Textbook:-

Scarborough, N.M. & Cornwall, J. (2015). Entrepreneurship and effective small business management (11th ed.). Upper Saddle River, NJ: Prentice Hall. ISBN: 9780133506327 (print); 9780133508239 (e-text).

QUESTIONS:

1. Explain the concept of the marketing mix. What are the four Ps? How can an entrepreneur use bootstrapping in the marketing mix? (4 Marks) (Minimum 200 words)

2. Explain the differences among promotion, publicity, personal selling, and advertising. Support your answer with examples. (3 Marks) (Minimum 200 words)

3. Why is it important for entrepreneurs to develop financial plans for their companies? And How should a small business manager use the financial ratios? (4 Marks) (Minimum 200 words).

4. What are the four rules for effective bootstrapping? How could you apply these rules to a business that you have started or are hoping to start some day? (4 Marks) (Minimum 200 words).