Write An Essay: 450 Words & 150 Words Questions

Write An Essay 450 Wordsquestion 1 150 Wordsa Why Small Business

Write an essay (450 words) Question 1: (150 words) a. Why Small Business is a Catalyst for Societal Change, give an example. b. When determining the population, what questions should a small business owner answer to?

Question 2: (150 words) a. Starting a new business is often the result of a specific event or situation within an individual's environment. List four events that can trigger a new business. b. List the "traditional" elements that help the company establish its legitimacy and explain the importance of legitimacy for the new business.

Question 3: (150 words) a. List some ways to advertise for a job to attract a large group of applicants b. List the elements that should be included in the application (CV) to apply for the position.

Paper For Above instruction

The role of small businesses in driving societal change is profound and multifaceted. Small businesses often serve as catalysts for economic development, social innovation, and community empowerment. For instance, local organic food stores not only promote healthier lifestyles but also encourage sustainable farming practices, which contribute to environmental preservation. Moreover, small businesses foster community cohesion by creating employment opportunities and supporting local initiatives, thereby strengthening societal fabric. They often implement innovative solutions to address local needs, filling gaps left by larger corporations, thus transforming societal norms and behaviors at grassroots levels.

When a small business owner considers the population they serve, several critical questions must be answered to ensure targeted and effective service. These questions include: Who is my target demographic? What are their preferences, needs, and behaviors? What is the purchasing power of this population? Where are they geographically located? Understanding these factors helps small business owners tailor their offerings, marketing strategies, and operational practices to meet specific community needs, ensuring better engagement and sustainability.

Starting a new business often results from specific events or situations within an individual's environment. Four common triggers include identifying a market gap or unmet need, experiencing job redundancy or unemployment, witnessing a local opportunity due to demographic changes, and having a passion or hobby that can be commercialized. Recognizing these triggers helps aspiring entrepreneurs transform personal or environmental circumstances into viable business ideas.

The establishment of legitimacy is crucial for a new business. Traditional elements contributing to legitimacy include acquiring proper licensing and registration, establishing a professional brand identity, engaging in community networking, and demonstrating compliance with industry standards. These elements are vital because legitimacy fosters trust among customers, suppliers, and stakeholders, which in turn, supports long-term success and growth. Without perceived legitimacy, new ventures may face hesitance and skepticism that impede initial customer adoption and funding opportunities.

In attracting applicants for a job, advertising through multiple channels such as online job boards, social media platforms, industry-specific forums, and local community centers can reach a broad audience. Effective advertisements should clearly describe the role, qualifications, and benefits offered. When applicants prepare their CVs, they should include personal details, educational background, work experience, skills relevant to the position, and references. A well-structured CV highlights the candidate’s suitability and makes it easier for employers to evaluate their potential contribution to the organization.

References

  • Bygrave, W., & Zacharakis, A. (2019). The Portable MBA in Entrepreneurship. John Wiley & Sons.
  • Croatian, S., & McFarlane, D. (2018). Small Business Management. Routledge.
  • Hisrich, R. D., Peters, M. P., & Shepherd, D. A. (2020). Entrepreneurship. McGraw-Hill Education.
  • Scarborough, N. M. (2018). Essentials of Entrepreneurship and Small Business Management. Pearson.
  • Shane, S. (2017). The End of Top-Down Control. Harvard Business Review.
  • Timmons, J. A., & Spinelli, S. (2019). New Venture Creation: Entrepreneurship for the 21st Century. McGraw-Hill Education.
  • Wheelen, T. L., & Hunger, J. D. (2018). Strategic Management and Business Policy. Pearson.
  • Zacharakis, A. & Meyer, G. (2017). A Guide to Business Planning. Harvard Business Publishing.
  • Greene, P. G., & Brown, T. (2019). Entrepreneurship: Ideas in Action. Sage Publications.
  • Model, S. (2017). The Small Business Bible. HarperBusiness.

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