Mgt 498
- Submitted by: bob323232
- Views: 232
- Category: Other
- Date Submitted: 11/24/2014 09:26 AM
- Pages: 2
- Report this Essay
MGT 498-001
MyStrategy
1. Why I think people think recessions are a good time to start a business? Is because everything is cheaper and people like cheaper things if you can pay half the price for something you will take the opportunity to do so. I also think a lot of people see it as a great deal because there are a lot of no money down deals with gives people the opportunity to find better deals. I feel it is not counterintuitive because I think it has a lot to do with intuition because you save money people are always understanding when it comes to saving money.
2. Thinking about today’s business climate I would say that it depends on the business/ products that will be sold on whether it is a good time to start a business. Reason being is because now prices of products are higher than they have been in the past five years so you have to be very careful on what you are wanting to open because there are so many competitors however you look at it and you don’t want to start a business that isn’t going to run.
3. If I were to start a business it would be something in the logistics (trucking) field. The reason being is because I have a lot of friends that are working in the logistics word right now and the business is going strong because there is always need to transport products and I feel I would have a lot of help to getting started. I would personally commercialize safer and faster transports because people want their products delivered faster so it would be something to catch the consumers attention
4. I think it does matter where I would start my business. The reason I feel it matters is because you don’t want to start a logistics company somewhere where there are highways or people who are willing to work for you (so you need a medium populated city to start off with).
5. How I would apply the strategic management framework to enhance my startup’s chances to gain and sustain a competitive advantage would be I would go out and collect...
MyStrategy
1. Why I think people think recessions are a good time to start a business? Is because everything is cheaper and people like cheaper things if you can pay half the price for something you will take the opportunity to do so. I also think a lot of people see it as a great deal because there are a lot of no money down deals with gives people the opportunity to find better deals. I feel it is not counterintuitive because I think it has a lot to do with intuition because you save money people are always understanding when it comes to saving money.
2. Thinking about today’s business climate I would say that it depends on the business/ products that will be sold on whether it is a good time to start a business. Reason being is because now prices of products are higher than they have been in the past five years so you have to be very careful on what you are wanting to open because there are so many competitors however you look at it and you don’t want to start a business that isn’t going to run.
3. If I were to start a business it would be something in the logistics (trucking) field. The reason being is because I have a lot of friends that are working in the logistics word right now and the business is going strong because there is always need to transport products and I feel I would have a lot of help to getting started. I would personally commercialize safer and faster transports because people want their products delivered faster so it would be something to catch the consumers attention
4. I think it does matter where I would start my business. The reason I feel it matters is because you don’t want to start a logistics company somewhere where there are highways or people who are willing to work for you (so you need a medium populated city to start off with).
5. How I would apply the strategic management framework to enhance my startup’s chances to gain and sustain a competitive advantage would be I would go out and collect...