?
A?
VI
TU
_S
ED
OV
PR
AP
,AP
TABLE OF CONTENTS
Solutions Manual: Canadian Entrepreneurship and Small Business Management, 12th
PR Edition
By D. Wesley Balderson, Peter Mombourquette, and Penny Farley
Part 1
OVThe Decision to Start a Business
Chapter 1 The Role of Entrepreneurship and Small Business in Canada
Chapter 2 The Small Business Decision
ED
Chapter 3 Evaluation of a Business Opportunity
Part 2 Preparing for Small Business Ownership
Chapter 4 Organizing a Business - The Business Plan
Chapter 5
_S
Buying a Business and Franchising
Chapter 6 Financing the Small Business TU
Part 3 Managing the Small Business
Chapter 7 Marketing Management
Chapter 8 Managing the Marketing Mix
Chapter 9 Financial Management
VI
Chapter 10 Operations Management
Chapter 11 Human Resources Management
A?
Chapter 12 Management Help: Mentors, Boards of Advisors or Directors, and Tax Assistance
?
Part 4 Looking to the Future
Chapter 13 Managing Growth
Chapter 14 Managing the Transfer of the Business
1
,AP PART ONE: The Decision to Start
a Small Business
PR CHAPTER 1: The Role of
Entrepreneurship & Small
Business in Canada
OV
E D_
CHAPTER LEARNING OBJECTIVES
LO1. Discuss the level of interest and activity in the small business sector.
ST
LO2. Evaluate common methods of defining small business and explain why a definition is important.
LO3. Summarize the current extent of entrepreneurship and small business in Canada.
UV
LO4. Describe the benefits a healthy small business sector can offer to society.
LO5. Explain the probable future environment for entrepreneurship and the small businessIA
community.
ANSWERS TO SMALL BUSINESS IN ACTION & SMALL BUSINESS BEGINNINGS
??
QUESTIONS
SMALL BUSINESS IN ACTION 1-1: CROWDFUNDING HELPS BROTHERS BUILD A BETTER WATER
BOTTLE
1. Do you think the Pressa Bottle will continue to be a successful product? Why or why not?
Answer: Student Choice
Balderson, Canadian Entrepreneurship & Small Business Management, 12th Edition
, 2. What do you think are some of the advantages and disadvantages of crowdfunding?
AP
Answer: Student Choice – however students should mention from the entrepreneur’s perspective
that it allows them to test market product ideas, provides additional sources of capital and can assist
in pre-selling products. From a disadvantage side, entrepreneurs have additional work to
PR
communicate with many people, it is fairly unregulated and some entrepreneurs and/or investors
could act unethically.
OV
3. Visit the Kickstarter website and report back to the class on some of the best ideas that are being
pitched. What are the terms associated with the ideas? Would you personally donate or invest
money using crowdfunding?
Answer: Answer will vary on student work.
E D_
SMALL BUSINESS IN ACTION 1-2: YOUNG CANADIAN SOCIAL ENTREPRENEURS
1. Kasandy has found a way to support artisans across the world and make a profit in her own
ST
neighbourhood. Can you think of a business idea to do the same?
Answer: Student Choice: answers will vary
UV
2. Name one entrepreneur who started small and made it big. How did they do it? How are they
giving back to the community? Trace the small steps and turning points that led them to greater
success.
Answer: Student Choice: answers will vary
IA
3. Find three social enterprises on either the Social Enterprise Council of Canada or the Canadian
Social Enterprise Foundation. With 1–2 classmates, create your own social enterprise business
and compare it with another group from the class.
??
Answer: Student Choice: answers will vary – this may also be used as the answer to one of the
experiential questions at the end of the chapter
Additional questions – not in text
Balderson, Canadian Entrepreneurship & Small Business Management, 12th Edition
A?
VI
TU
_S
ED
OV
PR
AP
,AP
TABLE OF CONTENTS
Solutions Manual: Canadian Entrepreneurship and Small Business Management, 12th
PR Edition
By D. Wesley Balderson, Peter Mombourquette, and Penny Farley
Part 1
OVThe Decision to Start a Business
Chapter 1 The Role of Entrepreneurship and Small Business in Canada
Chapter 2 The Small Business Decision
ED
Chapter 3 Evaluation of a Business Opportunity
Part 2 Preparing for Small Business Ownership
Chapter 4 Organizing a Business - The Business Plan
Chapter 5
_S
Buying a Business and Franchising
Chapter 6 Financing the Small Business TU
Part 3 Managing the Small Business
Chapter 7 Marketing Management
Chapter 8 Managing the Marketing Mix
Chapter 9 Financial Management
VI
Chapter 10 Operations Management
Chapter 11 Human Resources Management
A?
Chapter 12 Management Help: Mentors, Boards of Advisors or Directors, and Tax Assistance
?
Part 4 Looking to the Future
Chapter 13 Managing Growth
Chapter 14 Managing the Transfer of the Business
1
,AP PART ONE: The Decision to Start
a Small Business
PR CHAPTER 1: The Role of
Entrepreneurship & Small
Business in Canada
OV
E D_
CHAPTER LEARNING OBJECTIVES
LO1. Discuss the level of interest and activity in the small business sector.
ST
LO2. Evaluate common methods of defining small business and explain why a definition is important.
LO3. Summarize the current extent of entrepreneurship and small business in Canada.
UV
LO4. Describe the benefits a healthy small business sector can offer to society.
LO5. Explain the probable future environment for entrepreneurship and the small businessIA
community.
ANSWERS TO SMALL BUSINESS IN ACTION & SMALL BUSINESS BEGINNINGS
??
QUESTIONS
SMALL BUSINESS IN ACTION 1-1: CROWDFUNDING HELPS BROTHERS BUILD A BETTER WATER
BOTTLE
1. Do you think the Pressa Bottle will continue to be a successful product? Why or why not?
Answer: Student Choice
Balderson, Canadian Entrepreneurship & Small Business Management, 12th Edition
, 2. What do you think are some of the advantages and disadvantages of crowdfunding?
AP
Answer: Student Choice – however students should mention from the entrepreneur’s perspective
that it allows them to test market product ideas, provides additional sources of capital and can assist
in pre-selling products. From a disadvantage side, entrepreneurs have additional work to
PR
communicate with many people, it is fairly unregulated and some entrepreneurs and/or investors
could act unethically.
OV
3. Visit the Kickstarter website and report back to the class on some of the best ideas that are being
pitched. What are the terms associated with the ideas? Would you personally donate or invest
money using crowdfunding?
Answer: Answer will vary on student work.
E D_
SMALL BUSINESS IN ACTION 1-2: YOUNG CANADIAN SOCIAL ENTREPRENEURS
1. Kasandy has found a way to support artisans across the world and make a profit in her own
ST
neighbourhood. Can you think of a business idea to do the same?
Answer: Student Choice: answers will vary
UV
2. Name one entrepreneur who started small and made it big. How did they do it? How are they
giving back to the community? Trace the small steps and turning points that led them to greater
success.
Answer: Student Choice: answers will vary
IA
3. Find three social enterprises on either the Social Enterprise Council of Canada or the Canadian
Social Enterprise Foundation. With 1–2 classmates, create your own social enterprise business
and compare it with another group from the class.
??
Answer: Student Choice: answers will vary – this may also be used as the answer to one of the
experiential questions at the end of the chapter
Additional questions – not in text
Balderson, Canadian Entrepreneurship & Small Business Management, 12th Edition
