Management Team Case Project

Exercise 1
Business Failure and Success

Why do so many new businesses fail? Many businesses are started with good
intentions to serve customers by offering good products and services at
reasonable prices. Thoughtful plans are developed, resources obtained, good
people hired, hard work invested – yet according to the U.S. Bureau of Labor
Statistics nearly 45% of new businesses will fail within the first five years!
As a team of entrepreneurs looking to start a successful new business it is
worthwhile for you to think about why so many new businesses fail. You need to
do this to make sure you avoid their plight.

Team Activity for Exercise 1

IMPORTANT: Remember to follow the approach for your team discussion

outlined in the “Guide for Students” in the beginning of this Case.
As a team, review each team member’s worksheet for what your business will do
to succeed. Capture the key points on the worksheet on the following page. As a
team reach consensus on the list, do not simply list each team member’s points.
You should have no more than 5 total items on this list after your discussion as a
team!
Once you have reached consensus as a team, submit the worksheet to your
instructor following the instructions for submission.

Copyright 2020 Kendall Hunt Publishing

 What Your Business Will Do to Succeed!
Team Worksheet – Submit this Worksheet as a team
Exercise 1

Click or tap here to enter text.

Copyright 2020 Kendall Hunt Publishing