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PERSONAL LEARNING OBJECTIVES

When it comes to this subject, the first thing that comes to my mind in
relation to entrepreneurial mind is somehow the characteristics of a good
entrepreneur. It includes creativity, critical thinking skills, goal oriented, step-
by-step process which I can relate as one of the most crucial skills that a nurse
should be utilizing and developing. It is very suitable for nurses due to they are
very experienced when it comes to this type of mindset. I find this subject
interesting as it gives us option and ideas on how we will drive our careers as
future nurses.
On my mind, the purpose of entrepreneurial mind to nurses is to
improve the skills when it comes to entrepreneurship. Nurses have many
various traits when it comes to providing the most convenient care to their
client, the purpose of entrepreneurial mind is to use these traits and attitude
and convert it into forming business which can provide success and
satisfaction in the nurse’s side. Cultivating and improving these skills can help
to create the most creative and unique types of businesses that can provide a
profit for nurses who will pursue this type of profession. One of the purpose of
practicing or pursuing entrepreneurship as nurses is to provide and option for
nurses who would want to create business rather working as an employee. So
nurses have options now to choose what they really want to happen on their
careers.
What I have in mind right now are the things that I expect to learn from
this subject. Some of these are how can this entrepreneurial mind can be
adapted from medical field to business field. How can a well-established
business plan guide you for a successful business, what are the suitable
businesses nurses can do to maximize their potential with their skills and gain
an acceptable profit. These things make me think how difficult it is as nurses
being in a business field. But as they say, nurses are flexible and critical
thinkers when it comes to adapting to certain situations. I really don’t have
that much idea when it comes to business so with the help of my classmates
and our instructor, i will understand how nurses develops an entrepreneurial
mind.
What this subject can benefits me? And how it will help my future
career? I’ve heard from some of our past instructors that Nurse Entrepreneur
is now a trend for nurses. Most of our nurses coming from abroad invest their
money to entrepreneurship as they build a business and collect their income
from that business. It’ll help me add another option on how I drive my career
as a hospital nurse, community nurse, nurse researcher, and nurse
Entrepreneur. One of that option will be the flow of my career in the future. If
this Nurse Entrepreneur suits my ability and correlates to my mindset then I
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might as well try it. Well as a student, I can acquire knowledge on how Nurse
Entrepreneur works. I can also learn on how to cultivate my skills as a nurse
and converting it into an entrepreneurial mind to build a well-founded
business in the future. I can also learn something from the business world so
in the future I can use these knowledges when it comes to investing my
resources.
Well, I don’t have that much background when it comes to creating a
business plan. These are my objectives in creating a plan for my business.
First, I’ll understand how to create a business plan. That includes its parts and
also the correct way to do it. Secondly, create my own business plan guided by
my instructor, classmates, and other reliable courses, and lastly, is to put that
business plan into action and monitor its outcomes.
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I. ENTREPRENEUR
Entrepreneurs are those individuals who creates new business. Taking

risks together with their vision, critical thinking abilities, creativity, and goal-

oriented individuals makes them a successful one. Creating jobs, helping with

the improvement of a society or an economy, contributes for innovation and

helps in creating the future for everyone. These are entrepreneurs, making

themselves successful and everyone arounds them.

Entrepreneurs play a key role in any economy, using the skills and

initiative necessary to anticipate needs and bringing good new ideas to market.

Entrepreneurship that proves to be successful in taking on the risks of creating

a startup is rewarded with profits, fame, and continued growth opportunities.

Entrepreneurship that fails results in losses and less prevalence in the markets

for those involved (Hayes, 2021).

NURSE ENTREPRENEURS

Nurse entrepreneurs use their professional nursing experience and

education to start their own business in the healthcare industry. Businesses

established by nurse entrepreneurs may include developing and selling a home

health product or medical device, or offering independent nursing services,

such as patient care, nursing education, home health and/or consulting

services. A nursing career path that offers independence and autonomy,

becoming a nurse entrepreneur requires creativity, hard work and strong

business skills (www.registerednuring.org, 2021).

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Nurse entrepreneurs combine healthcare knowledge and business

sensibilities to develop successful business ventures that center around

optimal care delivery. Nurse entrepreneurs can focus their business on any of

numerous health-related categories, such as information technology and

patient data storage, healthcare services, or medical devices. The work of nurse

entrepreneurs carries the potential to make a profound impact on healthcare.

By independently working to create new and innovative tools and systematic

industry advances, they can help lay the foundation to move the concept of

care delivery forward in many ways. These can include more cost-effective

means of care delivery, more efficient patient treatment, and the ability to

create more robust individualized, proactive patient wellness strategies.

Ultimately, nurse entrepreneurs can make it possible for patients to have

better control over their health and healthcare costs, which could go a long way

toward helping them improve their quality of life (Online.maryville.edu, 2021).

Nurse entrepreneurship focuses on contributing an impact in the

healthcare industry by using the combination of entrepreneurship mindset and

improving healthcare setting to the clients. Nurses can improvise methods,

procedures, and tools that can greatly improve the recovery of the clients in the

hospital. Nurses can also creates ways which they can help in the nurses

station and collaboration with other healthcare field for more effective and

efficient working ground.

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NURSE INTRAPRENEURSHIP

Intrapreneurship has been defined very broadly in the literature as the

concept is in a relatively early stage of development. It has been defined as an

entrepreneurial way of action in an existing organization, which is based on

‘recognizing an opportunity, exploiting it and trusting that exploiting an

opportunity in a new way that deviates from previous practice will succeed and

support the realization of the organization’s aims. This happens when they

have developed relationships with their executives and nursing staff, are more

comfortable with their role and understand routines and the way things are

done in the ward. They would have also made decisions that resulted in

positive feedback from both staff and executives, which give them the

confidence with further decision-making. NMs become intrapreneurial once

they have established the trust of both their staff and nurse executives, which

enables them to enlist their support in achieving their vision (Clark-Burg,

2017).

An intrapreneur has the unique ability to go beyond creativity, including

being willing to take some risks in sharing and pushing a unique idea. They

have the perseverance to wait for senior management’s approval to create and

launch the product or service, and the drive to see it through to fruition. They

are willing to do what allows them to think outside the box and embrace new

ideas (Clark-Burg, 2017).

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A nurse intrapreneur might notice that a particular system is inefficient

and will take it upon themselves to present a potential new system to the team.

An intrapreneur will go above and beyond to help a coworker who needs

support completing their assignments for the shift. Intrapreneurial nurses look

for novel ways to utilize their talents, contribute to the good of the whole, and

feel like they’re part of something bigger than themselves. Nurse intrapreneurs

are innovators, disrupters (in the positive 21st-century sense of the word), and

self-motivated employees who go the extra mile, doing what others might

otherwise avoid or overlook (Carlson, 2018).

II. HISTORY OF NURSE ENTREPRENEURS

Nursing continued to evolve and during times of peace, many nurses

turned to private duty nursing. They were self-employed and provided nursing

services to patients either in the hospital or in the patient’s home. They

selected the hours and the cases they would. Eventually, independence and

self-employment gained respect as professionals. After the depression in 1929,

nurses were forced back to their alma maters, the hospital, to find work.

Patients and families could no longer afford to pay the private duty nurses. At

times of military conflict, the nurse enjoyed increased popularity as a hard

worker dedicated to her profession, but the public image of the independent

professional never returned. A few self-employed, private duty nurses lasted

well up into the 1950s. In the 1970s, nurses began to alter their nursing career

paths by developing businesses and consulting services that stepped out of the
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traditional mold. Karon Gibson, RN, started a nursing agency, American Nurse,

in Chicago, a first of its kind. Laura Gasparis Vonfrolio, RN, developed her

company, Education Enterprises, in New York. She provided CPR training to

businesses. By 1980, Clarissa Russo, RN, from Southern California, started

presenting seminars nationally addressing career options and business

opportunities for nurses. Russo, by her example, proved that nurse

entrepreneurship was possible and financially feasible.

By the mid 1980s, nurse consultants were practicing in many areas.

Individual nurses were developing fields of consulting that never existed in the

past. They were selling their services to healthcare facilities, attorneys, and

insurance companies. In 1985, it became evident that nurse entrepreneurs

needed a support and networking system. David Norris, a male critical-care

nurse in Petaluma, California, foresaw the need to support nurses in business.

He started a newsletter to promote and support nurses in business and the

National Nurses in Business Association was begun. By 1989, the association

was serving nurses across the country as it continues to do today (Bemis,

2012).

III. SKILLS OF NURSE ENTREPRENEURS

A BSN is the most common level of education for nurse entrepreneurs.

Some nurse’s complete dual master’s degree programs in nursing and business

administration. By completing business courses, nurses gain valuable insight

into accounting and managerial practices. Nurses should also have nursing
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experience in the specialty that is relevant to their business. While

certifications are optional, they are beneficial to proving your competency. A

nurse who runs a home health company may want to obtain Basic Life Support

(BLS) Certification, which is available from the American Heart Association or

American Red Cross. Successful nurse entrepreneurs are capable of performing

many functions depending on the type of business. Nurses may work alone or

employ staff. They may have to schedule appointments, travel, conduct

presentations and handle finances. Thus, they may function as a chief

executive officer (CEO), administrative assistant, salesperson and accountant.

Successful nurse entrepreneurs exhibit (Degree.lamar.edu, 2019).

 Ambition.

 Autonomy and independence.

 Decisiveness.

 Excellent communication skills.

 Problem-solving.

 Self-motivation.

IV. CHARACTERISTICS AND PERSONAL QUALIFICATIONS OF NURSE

ENTREPRENEURS
Starting your own nurse practitioner practice can be lucrative and gives

you an opportunity to help those patients in need, but you should understand

what you are getting into. I personally have been providing patients with care

at my clinic for many years and the knowledge I have acquired is invaluable. If

you are considering becoming a nurse entrepreneur, be sure to learn more

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about the top characteristics that others in the industry possess. This way, you

can do a more thorough analysis of yourself.

1. The Ability To Be In Control

In one scientific publication, it was found that one of the most important

traits for a nurse entrepreneur is the ability to be and remain in control

over any type of situation. When you become an entrepreneur and start

your own nurse practice, you need to be in charge of various aspects all

at once. You need to be a leader and have the ability to recognize

situations that may spiral out of control quickly – and then take charge

to avoid such problems. For me, the ability to act fast and be in control

at all times is critical to the success of my practice.

2. The Ability To Analyze A Situation And Know When It’s Okay To Take A Risk

Another critical characteristic lies in your ability to take risks at the right

times. There are many risks that have to be taken to succeed in the

business world. Understanding how these risks will play out and when it

is appropriate to take such a risk is critical. I often find myself taking

risks, but only when I am able to understand how my decisions might

play out.

3. A Need for Achievement

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You should have a desire for achievement. Once you have established

your new office, you need to recognize the fact that there is always

room to grow. You should know how to set goals – both short term and

long-term goals. You should also know how to continue striving toward

those goals, ultimately ensuring a consistency in achievements reached.

4. Innovation

Innovation – the ability to adapt to new things – is a characteristic that is

now more critical than ever before in a nurse practitioner. You should be

able to adapt to the latest technological advancements that have been

made. Plus, you need to be able to accept new changes in the industry

and ensure you always have the latest treatments for patients.

5. Ambiguity Tolerance

Finally, ambiguity tolerance is another characteristic that you definitely

need. As a nurse practitioner, there will be times where the result of

something you strived for turns out as a disappointment. You should be

able to bounce back and avoid thinking negatively about such events

(Wood, 2019).

Nurse entrepreneurs work for themselves and therefore the skills

required for this position vary depending on the nature of the individual

business venture, but in general the following skills and qualifications

are beneficial for nurse entrepreneurs (RegisteredNursing.org, 2021).

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 ADN or BSN degree and valid RN license

 Prior professional nursing experience within the relevant area of

specialty

 Basic business skills and knowledge (e.g., accounting, marketing,

ability to manage staff)

 Good communication skills for interacting with customers, patients

and employees

 Ability to work independently and willingness to take on personal

financial risk

V. SCOPE OF ENTREPRENEURIAL PRACTICE

The broad scope of today's health sector allows for a wide range of

activities in which nurses may potentially become professionally self-

employed and expert. Basically, nursing entrepreneurship involves

nurses owning and selling, for example, the following products and/or

services:

• nursing services;

• development, assessment and sale of health care products and

devices;

• legal services;

• health care/policy consultation; and

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• health care/policy publications.

In this handbook, the focus is on the nurse entrepreneur providing

direct nursing services, with the understanding that entrepreneurship

must adapt to the legislative, financial and political realities and

expectations of the country, province or locality. Major factors that

influence the emergence of nurse entrepreneurship are the health

sector's specific professional regulation and financial policies, and

whether health care is a public or a private service or a combined public

and private service. The development, scope of practice and regulation of

nurse entrepreneurs will therefore largely depend on the economic

infrastructure and policies implemented at the national, regional and/or

local levels (see Figure 1). The variations of nurse entrepreneur practice,

reimbursement systems and regulation are as numerous as the different

contexts within which they evolve.

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Nurse entrepreneurs are found in all three economic systems:

market driven, mixed and even the public sector. For example, nurse

midwives within the public health systems have been allowed to practice

as independent entrepreneurs for many decades already. And there is a

growing trend of independent practice being purchased by the public

sector and funded by public monies, thus promoting the development of

entrepreneurship in a public health system (Sandler & Kingma, 2014).

REFERENCES
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Hayes, A. (2021, July 27). What you should know about entrepreneurs. Investopedia.
https://www.investopedia.com/terms/e/entrepreneur.asp.

RegisteredNursing.org (2021, August 6). How to become a nurse entrepreneur - salary. How to
Become a Nurse Entrepreneur - Salary || RegisteredNursing.org.
https://www.registerednursing.org/specialty/nurse-entrepreneur/.

What is a nurse entrepreneur, and how do you become one? Maryville Online. (2021, April 1).
https://online.maryville.edu/blog/what-is-a-nurse-entrepreneur/.

Clark-Burg, K. G. (2017, October 29). Intrapreneurial nurse MANAGERS: Transforming

workplaces. stti.confex.com.
https://stti.confex.com/stti/bc17/webprogram/Paper84904.html.

Carlson, K. (2018, July 26). Nurse intrapreneurs make a powerful contribution. Ausmed.
https://www.ausmed.com/cpd/articles/nurse-intrapreneurs.

Bemis, P. (2012, January 1). History of Nurse Entrepreneurship. https://docplayer.net/8473356-

2-history-of-nurse-entrepreneurship.html.

How-to: Nurses becoming entrepreneurs. Lamar University Online. (2019, September 19).
https://degree.lamar.edu/articles/nursing/nurses-becoming-entrepreneurs/.

RegisteredNursing.org. (2021, August 6). How to become a nurse entrepreneur - salary. How to
Become a Nurse Entrepreneur - Salary || RegisteredNursing.org.
https://www.registerednursing.org/specialty/nurse-entrepreneur/.
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STRENGTH
1. International Exposure
2. Excels by having an innovative
and sound marketing and
advertisement
3. Adaptability to trends
4. Has a network site of 300
5. Able to expand from designed
shirts to clothing lines and even
personal care.
OPPORTUNITIES
1. Invest in covid 19 product lines
2. Hire local models, celebrities, or
public figures
3. Telemarketing
4. Offer surplus on the unsold
items to corporations with a
cause
5. Introduce seasonal clothing
designs as well as covid 19
related product.
SWOT ANALYSIS PENSHOPPE
WEAKNESSES
1. Prices must fit its target market
2. Some product designs may
conflict with other brands.
3. Conservative clothing designs
4. Unable to introduce timely
designs.
5. Emphasis on quality rather than
quantity
6. Unable to tap all class C market
THREATS
1. Increase in labor cost
2. Increase on taxes
3. Decrease on buyer’s purchasing
power.
4. Increasing number of branch
closing
5. Increase of price of raw
materials.
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I. Executive Summary

 Includes the overall services of the company.

 Business being proposed is derived by market analysis and based on the

current situation of the pandemic.

 Determined the possible risk and problems that can be met and

formulated possible contingency plan for maintaining the sustainability

of the business.

 Goals and Objectives derived to client centered approach.

Objectives

 To maintain and improve maternal/ infant health and well-being through

patient education even with the pandemic.

 Expanding marketing and advertising resources to reach and increase

consumer’s interest and to provide more assistance for future and

current mothers.

 To provide efficient and effective health teachings through virtual

appointments.

 Customer’s satisfaction with the service of the company

Mission

 Provide efficient services for the consumers and satisfaction as well.

 Use the most evidence-based sources or practices for the health

teaching.
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 Employees undergo and participate on various trainings to acquire the

most advance knowledge regarding maternal and child health.

 Provide services thus minimizing possibility of contacting virus.

Key to Success

 Unique, Innovative, and in-demand for pregnant mothers.

 Service quality

 Professional employees with training

II. Business Concept

It will be facilitated by the owner. The educator will perform the classes

and consultation. Various classes options will be available and they are free

to choose what type of lesson they want to take. Every class will have

different pricing. Company will also coordinate with other businessman

associated with various medical supplies when it comes to pre-natal, post-

natal, and family planning supplies. The business won’t just offer classes

but it will also sell various products which can help for maternal and child

care. It can be delivered personally or shipped which depends on the

location of clients. The location of the business will not a problem as it will

be facilitated in his own house. Location won’t be a problem for the service

as it can be done virtually as its one purpose is to minimize the possibility of

clients being susceptible to the corona virus. That’s is one of the advantages

of the business. The company will acquire 1 to 3 clients depending on the

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service they choose. It will be facilitated through appointment and services

and fees will depends on the service they choose.

III. Market Analysis

This company is based on my knowledge, experiences, and the

demands during this time. As a nursing student, I know the importance

of knowledge regarding maternal and child health especially for first time

mothers, family planning for couples which is very hard to attend any

class right now or go to hospital for guidance due to the fear of

contacting the current corona virus which became a pandemic since

2020. I saw this opportunity to start a business not only with the

purpose of gaining profits but also to provide assistance and health

teaching regarding maternal and child health as well as family planning

guidance. As a nursing student and a future RN, with analysis on how

will the business works and its impact in the community, this future

business has the potential to rise in the market which is embedded by

the current situation. It will be a good fit for the client as there is no need

to go outside for consultation well in fact, they can do it virtually. It will

lessen there concerns regarding transportations and possible acquiring

the virus.

IV. Management Team

Organizer- on its current state the business will be facilitated all by

the owner until the business can gain enough profit to expand the
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business connections. The owner itself will be the one who will

facilitate the appointments, learning session, financial management,

and decision making for the company.

V. Operation Management/Services

Prenatal Lessons- includes various lessons for clients regarding the

care during pregnancy. It includes exercises, stress management,

proper medications to take, and knowledge which involves things that

they will encounter during the pregnancy and emergency

interventions.

Postnatal Lessons- includes lessons for parental classes. What they

will expect after delivering the baby, Things they need to do during the

first weeks of having a baby.

Family planning lessons- Exclusive for couples who want to gain

control on planning for their family. It will involve different lessons

regarding contraceptives and other medical options.

Pre-natal, Post-natal, Family planning products- clients also has a

chance to consult for certain products suitable for their situations. To

avoid certain problems when it comes to being scammed or

overpricing, our business will coordinate with trusted sellers of

medical supplies and recommend them to our clients to buy.

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THESE FUNCTION PLAYS A KEY ROLE ON THE SUCCESS RATE OF EVERY BUSINESSES, THERES A
NEED FOR CONSIDERING THESE FUNCTIONS. THEY PROVIDE HUGE IMPACT FOR THE DEVELOPMENT OF
THE BUSINESS. FOR EXAMPLE, BUSINESS PLAN, WHERE IT PROVIDES THE BLUE PRINT OF YOUR BUSINESS
OR PROJECT. A GOOD BUSIINESS PLAN INCREASE THE SUCCESS RATE.

STAFFING- CHOOSING THE MOST SUITABLE PROFESSIONAL FOR THE DESIGNATED POSITION AND
ASSIGNING THEM BASED ON THEIR KNOWLEDGE AND SKILLS. ITS NOT JUST CHOOSING BECAUSE YOU
KNOW THEM. EVALUATING THEIR KNOWLEDGE AND ABILITIES WILL PROVIDE GOOD IMPACT ON YOUR
BUSINESS. BECAUSE THEY CAN HANDLE THEIR POSITION GOOD OR BAD SITUATION.

DIRECTING IN WHICH YOU ASISST YOUR WORKERS OR COPARTNERS IN BUSINESS TO ENSURE THE
GROWTH AND HELP FACILITATE CHANGES WITHIN THE BUSINESS.

CONTROLLING HELPS ALSO TO MONITOR THE PROGRESS OF YOUR COMPANY WHICH PLAYS A HUGE
IMPACT IN DETERMINING PLANS INTO ACTION TO FURTHER IMPROVE THE BUSINESS.

GOOD MANAGEMENT PROVIDES GOOD FOUNDATION WHEN IT COMES TO ACHIEVING A BUSINESS

GOALS AND OBJECTIVE. IT PROVIDES A POSITIVE IMPACT WHICH INCREASES THE SUCCESS RATE OF ANY
BUSINESS. ONE EXAMPLE OF THE IMPACT OF MANAGEMENT IN BUSINESSES IS GOOD MANAGEMENT
MEANS GOOD ORGANIZATION ON THE WORKPLACE. IF THE WORKPLACE IS WELL ORGANIZE AND THE
MANAGEMENT OF THE SYSTEM IS STABLE, MOST OF THE TASK BEING DONE INSIDE THE BUSINESS IS
DONE MORE EASIER AND ACHIEVE THE GOAL AS EXPECTED.

ALL OF THESE FUNCTIONS CAN PLAY A HUGE IMPACT ON THE SUCCESS OF ANY BUSINESS IF FOLLOWED
CORRECTLY WITHIN ITS PRINCIPLES. IT MAY VARY ON EVERY ENTREPRENEURS ON HOW THEY
FACILITATE THESE MANAGEMENT FUNCTIONS, THE IMPORTANT IS THE ESSENCE ON HOW YOU WILL
MAKE YOUR BUSINESS SUCCESSFUL BY CONSIDERING THESE ELEMENTS.
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QUIZ.

1. Own definition of small business.

*These are type of businesses that include few amounts of capital
needs to be establish ranging from microsmall (0 to 3 million) and
small (3-15 million). It requires fewer workers or employees to run
the business together with the owner. It can achieve a return of
investment and profits within a small timeframe.
2. 1 advantage and disadvantage of small business.
*One advantage of small business is it can be done by anyone even
without a huge amount of investment. And it has a chance of
growing into a more larger and wide business.
*One disadvantage is because it is a small business, you have
many competitors around your area and it can affect the growth of
your business which can cause uncertainty of your business.
3. Advantage and disadvantage of big business
*They can have enormous amount of resources like raw materials
creating their goods and products. With this big businesses,
they
Gain larger profit.
*Many big businesses causes problem to the environment and this
is one of the major disadvantage of a big business.
4. Reason why small business succeeds or fails?
*Small businesses succeeds when the workers and the owner have
a wide vision and taking risks. Focusing on the satisfaction
of their customer by providing good service. Expanding their plan for
the future to gain more larger profit. Small businesses fails when
they
Take their business and customers for granted. Providing bad ser
Vice or providing products which are not quality for the taste of
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Their consumers. They take their business for granted and don’t
Have any present and future plans together with contingency
Plans.