Charles Walker Wants to Build a Distribution Center in Colorado

question 79

Multiple Choice

Charles Walker wants to build a distribution center in Colorado. When you meet him for lunch, he shows you the marketing research that guarantees his new enterprise will be a success. What should you tell him to curb his unbridled optimism?

• A) Walker should execute research very carefully to make it error free.
• B) Walker needs to formulate a better plan for his organization.
• C) Walker should know that even the most carefully executed research can be fraught with errors.
• D) Walker should be laying stress on strategic planning and not research.

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Definitions:

Corporate-Owned Locations

Stores or facilities that are directly owned and operated by the parent company, as opposed to being franchised.

Entrepreneurial Thinking

A mindset that embraces innovation, risk-taking, and the creation of new value or ventures through business strategies.

Effectuation Theory

An entrepreneurial approach to taking quick action using resources you have available to get early traction on new ideas.

Social Entrepreneur

An individual who pursues novel applications that have the potential to solve community-based problems with an emphasis on social change.