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.

7. Conclusion

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

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