QUESTION Which of the following is the point at issue between Huan and his co-owners? A) whether the soda company will ultimately be profitable enough to sell B) if the soda company should be sold right away C) whether the soda company can gain new customers D) if the owners should hire staff E) whether […]
Date: September 3rd, 2020
QUESTION Monique is writing a list of questions to consider as she drafts her business plan. She is entering a very competitive market served by many existing companies. What is the most important question she needs to answer to help secure funding and get her business started? What will be an ideal response? ANSWER […]
Date: September 3rd, 2020
QUESTION What is the difference between an angel investor and a venture capitalist? What will be an ideal response? ANSWER Answer: An angel investor is a wealthy individual who wants to make an investment, whereas a venture capitalist is typically a company who wants a stake in the company in return for part ownership. […]
Date: September 3rd, 2020
QUESTION Which of the following is best supported by the statements above? A) The best path to long-term growth is to avoid confrontation with larger competitors for as long as possible. B) It is generally better to confront one established competitor at a time rather than many at once. C) Even when competing in a […]
Date: September 3rd, 2020
QUESTION Why do governments encourage new businesses to locate in urban enterprise zones? What will be an ideal response? ANSWER Answer: Urban enterprise zones are located in economically distressed areas in industrial or commercial parts of cities. By drawing new business into enterprise zones, governments hope to revitalize the areas. Explanation: Governments offer a […]
Date: September 3rd, 2020
QUESTION Giancarlo has run a successful Italian trattoria for nearly 30 years. When asked the secret to his success, he always attributes it to his loyal customers. What basic philosophy does Giancarlo follow to keep his customers happy and coming back for more good food? What will be an ideal response? ANSWER Answer: To […]
Date: September 3rd, 2020
QUESTION Kelly’s new landscape architecture firm is located in a large downtown loft space shared with other small businesses. All the tenants are served by a central, low-cost administrative support crew and have access to conference rooms. Where is Kelly’s firm operating? What will be an ideal response? ANSWER Answer: Kelly’s firm is operating […]
Date: September 3rd, 2020
QUESTION Greg recently graduated from college with a degree in marketing. Where is his best opportunity to land his first professional job, and why? What will be an ideal response? ANSWER Answer: Greg’s best chance for getting his first job is with a small company. Small businesses provide the first job for most entrants […]
Date: September 3rd, 2020
QUESTION WaterPod Transport is the only company in the world to manufacture and sell personal submarines. The company is owned by a wealthy entrepreneur and has 50 employees and annual sales revenue of $3 million. Would the U.S. Small Business Administration consider WaterPod to be a small business? What will be an ideal response? […]
Date: September 3rd, 2020
QUESTION A group of recent college grads is working to come up with “the next big thing.” Considering the definition of an entrepreneurial team, what should these people bring to the table to help ensure the success of their effort? What will be an ideal response? ANSWER Answer: The team members should contribute different […]
Date: September 3rd, 2020
