Entrepreneurship

1. What are the three fastest-growing companies in the country? What opportunities have they pursued to achieve this level of growth? What growth mechanism have they used (internal, joint venture, acquisitions, franchising, etc.)?
2. Identify a local franchise in your area, and determine where the competitors are located and where other franchises from the same organization are located. Evaluate the existing potential for the franchise.
3. If your family had a highly successful business, would succession to the next generation (you and/or your siblings) likely be smooth, or would there be the potential for conflict and hurt feelings? What would be a fair way to set up succession?
4. Write an account of the emotions that you felt when someone or something close to you was lost forever. How did these emotions impact your ability to perform other tasks? How did you overcome these negative emotions? To what extent do you believe that entrepreneurs go through a similar process when their businesses fail?