Discussion Post

Please consider at least one of the following topics for discussion:

  1. “Grow or die.” Discuss the merits of this statement as a philosophy for running a small-business.
  2. Entrepreneurs must estimate the market potential for their products or services on a regular basis. Why is this so important? What does it have to do with market share?
  3. Picture yourself as a graduate of your current program looking for a job in the marketplace. Prepare a brief SWOT analysis of yourself.
  4. Some small-business owners follow a one-change-at-a-time policy. How could this apply to market expansion? To product expansion? To advertising? How does this approach affect a business owner’s ability to measure the effects of change?
  5. How are the business cycle and the product cycle similar? How are they different?
  6. The fastest way for most businesses to increase sales is to compete on the basis of price. Discuss why this might be true. What are the dangers of a penetration pricing strategy?
  7. Canadian companies trying to export to developing nations may encounter corruption at many government levels. For example, the paying of certain bribes might be expected and commonplace. When dealing in foreign countries, should these companies participate in behaviour that would not be acceptable in Canada? What are the dangers of doing so?
  8. Imagine that you own a shoe store and your accountant, who has just performed a ratio analysis of your financial statements, tells you that your ratio of profit/sales is far below the industry average. What problems do you think might be causing this? How would you investigate your suspicions?
  9. Try and identify some companies that have cut back on some products or services to get back to their core business. Why have they taken this strategy?
  10. Find some commonly used forms at your work or educational institution. What generally unnecessary information does the form ask for? In what rare circumstances could that information be important? Should that information be dropped from the form?
  11. Think of some large organization where you have been a repeat customer – perhaps a bank or college or university. How do you feel when you think of yourself calling in to this organization, knowing that the person answering the phone may have significant information about you on the computer screen? What are some of the implications for this for CRM Systems?
  12. Customer satisfaction does not necessarily equal customer retention. Discuss some of the reasons why this might be true.
  13. For a small-business that needs skilled staff, discuss the advantages of training vs. hiring.
  14. “Pricing should be a marketing decision rather than a costing decision.” Discuss.
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