Analyze A New Business

 

 

Find the “You Be the Consultant” exercise in Chapter 4; “When to Call It Quits on a New Business”

Read the exercise carefully after having read the required resources for units 1 and 2, and apply what you have learned in answering the three questions using no less than 600 words.
Your answers should be submitted in a Microsoft Word doc or docx.
Ensure that you answer the questions thoroughly and completely, providing solid support for your rationale (a minimum of 200 words minimum for each question).
YOU BE THE CONSULTANT – When to Call It Quits on a New Business

Why was it hard for Jake to admit his newest venture was not going to work?
What would you recommend that entrepreneurs do to ensure that they don’t hang on too long to a failed business concept?
A failed business concept does not mean the entrepreneur has failed. How would you explain this to an entrepreneur facing a failed business concept?

Scarborough, N. M. (2019). Essentials of entrepreneurship and small business management (9th ed.). Upper Saddle River, NJ: Pearson. ISBN 13: 9780136879664

 

 

Sample Solution

While a set of frameworks complement and build on each other, the delineation of the concept focuses heavily on vertical versus horizontal dimensions in a time-sliced fashion. That is, time dimension in accountability has not been of primary importance. However, it is worth noting that the time dimension is closely interrelated with a series of conceptual distinctions made in previous literature, and it may cover complementary aspects of the question concerning two sequential lines represented by administrative responsibility versus political accountability. First, the positioning of accountability actors depends on the time dimension. Civil servants usually have longer terms to serve the public interest over the long term. At the same time, they are responsible to the elected representatives of the public who tend to have “a limited time horizon” and “prefer policies that yield tangible benefits for constituents in the near term” (Posner, 2004: 137). For this reason, the priorities expressed by elected officials may be far more related to short-term issues and temporal problems instead of long-term solutions, whereas the long-lasting forms of civil service personnel would prioritize sustainable solutions to secure a long-term perspective of the citizens, both current and in the future. Second, the time frame is essential to distinguishing between two main streams of accountability. Accountability mechanisms focus predominantly on retroactive accountability for the past outcomes, while accountability as a virtue takes a proactive approach to ensuring ethical behaviors in the future. The timeline is also useful to distinguishing between ex ante accountability of the decision-making process leading up to the decision and ex post accountability where the results available from the decision already taken or where questions of compliance are identified and addressed. In other words, ex ante accountability refers to being accountable for the decision before an administrator act, while ex post accountability is suggestive of situations where administrators are accountable for the outcome of their decisions. For example, the focus of traditional bureaucratic administration is very much

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