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FNH 415: Business Strategies and Operations Overview with complete solutions
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FNH 415: Business Strategies and Operations Overview with complete solutions
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FNH 415: Business Strategies andOperations Overview with complete
solutions
Poor Planning - correct answer ✔✔Uncontrolled growth leading to business failure.
common reasons businesses fail - correct answer ✔✔Poor planning,
Mismanagement or lack of funding
Poor cash flow management
Not enough visibility or no market
People problems
Common causes of default - correct answer ✔✔Shift in business model (
Material management change
Change in owner's person circumstances
Unsuccessful expansion/growth plans
Inability to adopt/react to material change in operating/market enviro
Gain or loss of a major customer/contract/supplier
One-time capital expenditure
Seasonal demand
Mismanagement - correct answer ✔✔Ineffective management or insufficient funding.
Cash Flow Management - correct answer ✔✔Monitoring and controlling cash inflows and outflows.
Market Visibility - correct answer ✔✔Awareness of market presence and competition.
, People Problems - correct answer ✔✔Issues related to hiring and employee training.
Business Model Shift - correct answer ✔✔Transition from one operational model to another.
Material Management Change - correct answer ✔✔Alteration in how materials are handled or sourced.
Owner's Personal Circumstances - correct answer ✔✔Life events affecting business operations.
Unsuccessful Expansion - correct answer ✔✔Failed attempts to grow business effectively.
Market Adaptation - correct answer ✔✔Ability to respond to market changes.
Customer Loss - correct answer ✔✔Losing a significant client or supplier.
Capital Expenditure - correct answer ✔✔One-time investment in long-term assets.
Seasonal Demand - correct answer ✔✔Fluctuating demand based on seasonal cycles.
Ideal Customer - correct answer ✔✔The person you would clone over and over again until profitable
things to consider for ideal customer - correct answer ✔✔- the story as a brand and how it connects
w/customers story
- Inspo for creation of business and the role it plays in customers life
- ID top competitors in niche
- Determine customer characteristics (loves, passions, fears)
- Use competitive intel to det:
What is similar about customers?
What is the common need?
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