The paper must be in APA format and include the following:
1. Cover page
2. An abstract
3. An Introduction
4. Provide a overview of the case study
5. Summarize the key pints made in the case study
· What management succession issues do you detect in this case?
· What steps could Rámon Cardenas have taken to avoid them?
· Lucy and Bill eventually were able to purchase Red Iguana from her father for $560,000. Describe at least three methods that the family could use to establish the value of the business.
a. What factors make placing a value on a business difficult?
6. Answer the questions above and below in full detail.
6. As you work on this case study, answer the following questions:
• Should Lucy and Bill consider changing entity types?
-Why, or why not?
• Define Formal business planning and everything that goes into a successful plan
· Break down a formal business plan
Submit a 6-page descriptive case study utilizing the case in the text book, and two academic or peer-reviewed sources. The title and references pages do not count towards the page count.
Case #4, p. 835, in Scarborough, N.M. & Cornwall, J. (2015). Entrepreneurship and effective small business management (11th ed.). Pearson: Boston, MA