Discussion Questions

  1. Discuss how a small business can be bootstrapped at its inception. What kind of costs can the entrepreneur avoid or lower with tenacity and sweat equity?
  2. If you were to start a small business, what would it be and what kind of resources would you need to get started?
  3. Which do you think are more difficult to protect: tangible or intangible resources and why?
  4. Discuss how political factors can impact a business.
  5. What are some examples of sociocultural factors that may affect a business?
  6. Explain how economic factors can increase the price of a product.
  7. When is it a good time to hire an independent contractor and when is it a good time to hire an on-staff employee?
  8. Explain how resource dependence theory helps a venture grow.
  9. Discuss the steps required in hiring new employees. What sorts of factors must you think of before you hire a new team?
  10. Discuss the importance of having personal resources, such as a strong support system, when starting a venture.

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NSCC Foundations of Entrepreneurship Copyright © 2022 by OpenStax is licensed under a Creative Commons Attribution 4.0 International License, except where otherwise noted.

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