International Business Essay - 838 Words

1. What are the three main causes of small-business failure? a. The 3 main causes of businesses fail are management shortcomings, lack of training, and government regulations. Many times people are unprepared for the demands of running a small business. It takes all of your time, money and energy to keep a small business alive. . In the beginning its all about you and you have to be honest with yourself about just how capable of a manager you are. If you make rash, fearful decisions or if you are not great at managing people, you will have a hard time making your business work. This also has to do with if the individuals that start the businesses have very little training. It’s hard to train others when you, yourself have no idea†¦show more content†¦a. Globalization and information technology created new opportunities for entrepreneurs by making it easier for everyone to be in contact with each other and to get information out to anyone at any given time. Current demographic trends that suggest new goods and services for entrepreneurial businesses are: the aging of U.S. population, the emergence of Hispanics as nation’s largest ethnic group, and the growth of two-income families. 6. Identify the four basic managerial functions. Suppose you were hired to be the manager of a local restaurant. Which managerial functions would likely be the biggest part of your job? In what ways? a. The 4 basic managerial functions are: planning, organizing, directing, and controlling. If I was a manager of a restaurant, I feel that all of these functions would be equally important. I would have to plan out each meal, who’s working, and where they’re working. I’d have to organize parties and events that might happen at the restaurant. I’d have to direct people by showing them how to do certain things, like how to pour wine properly or show them how to correctly address customers. I’d also have to control the whole situation and make sure that everything runs smoothly every day. 7. Which type of organization structure provides a firm with the most flexibility to respond to changes in the marketplace and engage in innovation? What might be theShow MoreRelatedInternational Business Ventures2671 Words   |  11 PagesInternational Business Ventures Measuring a potential business venture has many aspects which the international manager must be aware of in order to convey the correct information back to the decision makers. Being ignorant to any of the aspects can lead to a false representation of the project, and hence an uninformed decision being passed. In order for a business to survive it must grow. 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