Question

2. Starting a new business is often the result of some particular event or condition within an individual's environment. List four events that could trigger a new business. Give an example of a real business that was triggered by one of the events you mentioned.   (300 words – 20 marks)

3. Define small businesses. Why does a small business act as a catalyst for social change? (200 words – 15 marks)

Answer 1

starting of a new business is a result of some particular event or change in the individual environment. here we are taking an example of an establishment of a supermarket in a small town.

here the condition of that particular place was a suburban area with village type set up. after the establishment of a new organization or manufacturing units the no. of residential got increased, whereas the proportion of outsiders to that place also increased due to new job opportunities. so this is a point where the business place took a chance. List of the event to get an opportunity to start up a new business.

1. new population with new taste and demand

2. lifestyle and availability of the next market to get the product.

3. time of delivery and cost of transportation.

4. waste of time and energy for the product.

here we are taking one example of setting a supermarket, which provides all verity of national as well as some of the international brand products to a town with newly established manufacturing units and different communities of people. different communities people may have different languages which may also have a problem with the locals to communicate. so the establishment of a supermarket may increase the transaction and enhance the choice of local towards global demand.

b) A small business is referred to a business having a maximum of 250 employees, maybe solo proprietorship, partnership or corporation. but if its all about starting up a new business idea it can start with a minimum 2 member extended to 250. referring to the above example a small business like setting a supermarket will provide a verity of taste to the local inhabitant along with the outsider. previously when the local-only bounded to traditional habit now they came across the verity and different style choice and other social and personal habit change. it has an impact on lifestyle and easily adopted by the younger generation. the mixing of both cultures brings a social reform and change in habit of local. The mixing of local culture and global culture enforces the local to adopt the mixed demand to run their business in a competitive market, which has been introduced to then very recently.