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
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
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.
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.
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
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
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.