Small Business Management and Employment Statistics (Coursework Sample)
textbook: (this two links are for the same textbook.)
From Chapter 1 in the textbook, write a 1–2-page paper in Word format. Apply APA standards to citation of sources.
1. Throughout this text, you will be given several assignments. It would be useful if these assignments had some degree of consistency. Select a type of business that interests you and plan on using it throughout some of the chapter assignments. After selecting your business, go to www.sba.gov/content/table-small-business-size-standards and determine the size of the business. The type of business that you select will become the basis for your business plan we will be creating throughout the term. You will explain your business to the class next week. Be prepared to tell the class about the type of business you have selected and the reasons why.
2. In the United States, 50 percent of those employed are working for small businesses. There are considerable differences across states. Go to http://www.census.gov/programs-surveys/susb.html and compute the percentage for your state. What factors might account for the differences across states?
3. Starting a business can be a daunting task. It can be made even more daunting if the type of business you choose is particularly risky. Go to http://www.forbes.com/2007/01/18/fairisaac-nordstrom-verizon-ent-fin-cx_mf_0118risky.html, where the ten riskiest businesses are identified. You may also go to https://www.qualitylogoproducts.com/lib/riskiest-businesses-to-start.htm. Select any two of these businesses and address why you think they are risky.
4. Amy Knaup is the author of a 2005 study “Survival and Longevity in the Business Employment Dynamics Data” (see www.bls.gov/opub/mlr/2005/05/ressum.pdf The article points to different survival rates for ten different industries. Discuss why there are significant differences in the survival rates among these industries.
From Chapters 2 and 3 in the textbook, write a 1–2-page paper in Word format. Apply APA standards to citation of sources.
Frank’s All-American BarBeQue Case Study
Robert Rainsford is a twenty-eight-year-old facing a major turning point in his life. He has found himself unemployed for the first time since he was fifteen years old. Robert holds a BS degree in marketing from the University of Rhode Island. After graduation, a firm that specialized in developing web presences for other companies hired him. He worked for that firm for the last seven years in New York City. Robert rose rapidly through the company’s ranks, eventually becoming one of the firm’s vice presidents. Unfortunately, during the last recession, the firm suffered significant losses and engaged in extensive downsizing, so Robert lost his job. He spent months looking for a comparable position, yet even with an excellent résumé, nothing seemed to be on the horizon. Not wanting to exhaust his savings and finding it impossible to maintain a low-cost residence in New York City, he returned to his hometown in Fairfield, Connecticut, a suburban community not too far from the New York state border.
He found a small apartment near his parents. As a stopgap measure, he went back to work with his father, who is the owner of a restaurant—Frank’s All-American BarBeQue. His father, Frank, started the restaurant in 1972. It is a midsize restaurant—with about eighty seats—that Frank has built up into a relatively successful and locally well-known enterprise. The restaurant has been at its present location since the early 1980s. It shares a parking lot with several other stores in the small mall where it is located. The restaurant places an emphasis on featuring the food and had a highly simplified décor, where tables are covered with butcher paper rather than linen tablecloths. Robert’s father has won many awards at regional and national barbecue cook-offs, which is unusual for a business in New England. He has won for both his barbecue food and his sauces. The restaurant has been repeatedly written up in the local and New York papers for the quality of its food and the four special Frank’s All-American BarBeQue sauces. The four sauces correspond to America’s four styles of barbecue—Texan, Memphis, Kansas City, and Carolina. In the last few years, Frank had sold small lots of these sauces in the local supermarket.
As a teenager, Robert, along with his older sister Susan, worked in his father’s restaurant. During summer vacations while attending college, he continued to work in the restaurant. Robert had never anticipated working full-time in the family business, even though he knew his father had hoped that he would do so. By the time he returned to his hometown, his father had accepted that neither Robert nor Susan would be interested in taking over the family business. In fact, Frank had started to think about selling the business and retiring. However, Robert concluded that his situation called for what he saw as desperate measures.
Initially, Robert thought his employment at his father’s business was a temporary measure while he continued his job search. Interestingly, within the first few weeks he returned to the business, he felt that he could bring his expertise in marketing—particularly his web marketing focus—to his father’s business. Robert became very enthusiastic about the possibility of fully participating in the family business. He thought about either expanding the size of the restaurant, adding a takeout option, or creating other locations outside his hometown. Robert looked at the possibility of securing a much larger site within his hometown to expand the restaurant’s operations. He began to scout surrounding communities for possible locations. He also began to map out a program to effectively use the web to market Frank’s All-American BarBeQue sauce and, in fact, to build it up to a whole new level of operational sophistication in marketing.
Robert recognized that the restaurant was as much of a child to his father as he and his sister were. He knew that if he were to approach his father with his ideas concerning expanding Frank’s All-American BarBeQue, he would have to think very carefully about the options and proposals he would present to his father. Frank’s All-American BarBeQue was one of many restaurants in Fairfield, but it is the only one that specializes in barbecue. Given the turnover in restaurants, it was amazing that Frank had been able to not only survive but also prosper. Robert recognized that his father was obviously doing something right. As a teenager, he would always hear his father saying the restaurant’s success was based on “giving people great simple food at a reasonable price in a place where they feel comfortable.” He wanted to make sure that the proposals he would present to his father would not destroy Frank’s recipe for success.
1. Discuss how Robert should explicitly consider the customer value currently offered by Frank’s All-American BarBeQue. In your discussion, comment on the five value benefits and the perceived costs.
2. Robert has several possible options for expanding his father’s business—find a larger location in Fairfield, add a takeout option, open more restaurants in surrounding communities, incorporate web marketing concepts, and expand the sales of sauces. Review each in terms of value benefits.
3. What would be the costs associated with those options?
4. In Chapter 2 "Your Business Idea: The Quest for Value", Robert Rainsford was introduced in the Frank’s All-American BarBeQue case. He has returned to the family business and is very enthusiastic about expanding the business. He has identified four options: (a) expanding the restaurant either at its current site or elsewhere in Fairfield; (b) opening several similar-sized restaurants in nearby towns; (c) using the Internet to expand sales; and (d) expanding the sales of Frank’s sauces from a local store to a regional supermarket chain. Any one of these ideas would represent a change from his father’s business model. Given that he had not expressed any interest in the management of the business, how should he go about approaching his father with these ideas? If the company expands, should Robert approach his sister and her husband about taking a more active role in the business? What should their roles be?
Small Business Management
Small Business Management
The business of choice is a coffee shop called Porcelain Coffee. The business will be located in Houston, Texas, a state that is considered to have the most multiple races in terms of population. The business will focus in selling different size of cup of coffees, cookies. The mission of the business is to ensure that the clients are supplied with the best quality coffee in the market. The vision of the business is to be the leading and preferable coffee shop in Houston and Texas at large
The business intends to have an employ a capacity of 10-15 employees. The employees will be segregated in four departments, marketing division, supply and logistics division, finance division and e-commerce division. In in a preliminary budget forecast, the business predicts to generate an annual revenue of 80, 000 US dollars annually. This splits down to a revenue of to 6667 dollars a monthly. The forecast appears feasible as the intended initial outlay of the business is 3500 dollars that will be raised through loans from financial institutions and relatives. Particularly, I intend to obtain a loan of $ 2,000 and having the balanced of $ 1500 raised from the family business
Small Business Employment Statistics
As 50 % of the United Citizens are employed by the small business sector, this imply that the SME sector contributes to a massive proportion of the United State GDP. Drawing from the United States Census Bureau, the percentage proportion employees employed by small businesses in Texas can be determined as follows.
Employment available in small business (< 500) in Texas/ Total Employment opportunities available in Texas * 100 as at 2014 US sate total table.
4553243 / 9,920,214*100 = 48.9 %
The proportion tend to vary in different states due to variations in factors such as legal policies, market conditions demographic differences. Particularly, legal policies, market conditions and demographic difference can either favour or discourage the flourishing of small businesses thus affecting employment level in case of favourable and adverse conditions respectively.
Most Risky Businesses to Start
As much as the financial expert suggests that the riskiest business are the most valuable, still there are businesses which are too risky to start. For example, the two most risky businesses to start are groceries stores and the clothing business. A grocery store is deemed riskiest to start because they are tend to face stiff competition from large chain stores such Wal-Mart and Target. Additionally, groceries businesses have tight profit margins which limits their growth and expansion (David Cadden, 2013). Clothing lines are also considered as the riskiest businesses as the industry is characterized by constant change of customerâ€™s taste ...
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