Buying an Existing Business
The due diligence process of analyzing and evaluating an existing business:
a. may be just as time consuming as the development of a comprehensive business
plan for a start-up.
b. helps to d
THE CHALLENGE OF ENTREPRENEURSHIP
The Foundations of Entrepreneurship
One of the most significant economic developments in recent business history
relates to the:
a. growth of blue-chip corporations.
Conducting a Feasibility Analysis and
Crafting a Winning Business Plan
The process of determining whether an entrepreneurs idea is a viable foundation
for creating a successful business is known as a:
a. business plan
Franchising and the Entrepreneur
A franchise is a system of distribution in which semi-independent business owners
pay _ and _ to a parent company in return for the right
to become identified with its trademark, to sel
SECTION III. BUILDING THE BUSINESS PLAN: MARKETING
AND FINANCIAL CONSIDERATIONS
Building a Powerful Marketing Plan
_ is the process of creating and delivering desired goods and services
to customers and involves all of
Choosing the Right Location and Layout
The first phase of determining where to locate a business is:
a. choosing a state in which the business owner wants to live.
b. determining which city has the demographics that b
E-Commerce and the Entrepreneur
One of the most valuable attributes of the Web is the ability to:
a. track customers Web-based shopping habits allowing companies to further
benefit from individualized marketing.
Setting prices for products and services requires entrepreneurs to balance a
multitude of complex forces as entrepreneurs determine prices for their goods and
services that will draw customers and:
Forms of Business Ownership
The key to choosing the right form of ownership is:
a. envisioning where your business will be in 10 years.
b. understanding the characteristics of each form and knowing how they affect
SECTION IV. PUTTING THE BUSINESS PLAN TO WORK
Sources of Financing: Debt and Equity
Entrepreneurs needing between $100,000 and $3 million in the current financial
environment will likely find that acquiring financing
Inside the Entrepreneurial Mind:
From Ideas to Reality
An entrepreneurial secret for creating value in the marketplace is:
a. applying creativity and innovation to solve problems.
b. creating new products and services.
Managing Cash Flow
Solid cash management enables a business owner to:
a. adequately meet the cash demands of the business.
b. avoid retaining unnecessarily large cash balances.
c. stretch the profit-generating power
Creating a Successful Financial Plan
In order to reach profit objectives, entrepreneurs must be aware of their firms:
a. current ratio and liabilities.
b. fixed assets and owners equity.
c. assets and liabilities.
BUILDING THE BUSINESS PLAN:
Designing a Competitive Business Model
and Building a Solid Strategic Plan
Which of the following is not one of the three components of intellectual c
Becoming a global entrepreneur requires:
a. constant innovation.
b. maintaining a high level of quality and constantly improving it.
c. being sensitive to foreign customers unique requirements and
Building a Team and
_ is the process of influencing and inspiring others to work to achieve
a common goal and then giving them the power and the freedom to achieve it.