Question 1

A glass manufacturer that requires an extremely pure, very fine sand in its production process would be most concerned about the ________.

Accepted Answer

A) business climate 
B) proximity to raw materials 
C) demographic profile of the local market 
D) local wage rates 
A) business climate 
B) proximity to raw materials 
C) demographic profile of the local market 
D) local wage rates

Question 2

A power center combines the drawing strength of a large regional mall with the convenience of a neighborhood shopping center.

Accepted Answer

A) True 
 B)False

Question 3

The key to finding a suitable location is identifying the characteristics that can give a company a competitive edge and then searching out potential sites that meet those criteria.

Accepted Answer

A) True 
 B)False

Question 4

List and discuss the eight options where retail and service businesses can serve their customers. What are their advantages and disadvantages?

Accepted Answer

1. Central Business Districts (CBDs)
The

Question 5

The most important factor when evaluating the labor supply in an area is its prevailing wage rate.

Accepted Answer

A) True 
 B)False

Question 6

Clothing is one of the most popular items sold in regional shopping malls.

Accepted Answer

A) True 
 B)False

Question 7

A ________ combines the drawing strength of a large regional mall with the convenience of a neighborhood shopping center.

Accepted Answer

A) power center 
B) community shopping center 
C) central business district 
D) strip mall 
A) power center 
B) community shopping center 
C) central business district 
D) strip mall

Question 8

Based on the above calculations, what is the entrepreneur's best option?

Accepted Answer

A) (S)he should choose site #1. 
B) (S)he should choose site #2. 
C) Neither site meets minimum criteria of $158 per square foot. 
D) Either site will work well since both meet minimum criteria of $158 per square foot. 
A) (S)he should choose site #1. 
B) (S)he should choose site #2. 
C) Neither site meets minimum criteria of $158 per square foot. 
D) Either site will work well since both meet minimum criteria of $158 per square foot.

Question 9

________ provides useful demographic information in eight areas.

Accepted Answer

A) Topological Integrated Geographic Encoding Referencing 
B) The American Marketplace: Demographics and Spending Patterns 
C) Zip Code Atlas and Market Planner 
D) Sales and Marketing Management's Survey of Buying Power 
A) Topological Integrated Geographic Encoding Referencing 
B) The American Marketplace: Demographics and Spending Patterns 
C) Zip Code Atlas and Market Planner 
D) Sales and Marketing Management's Survey of Buying Power

Question 10

A ________ center combines the drawing strength of a large regional mall with the convenience of a neighborhood shopping center.

Accepted Answer

A) neighborhood 
B) power 
C) theme or festival 
D) lifestyle 
A) neighborhood 
B) power 
C) theme or festival 
D) lifestyle

Question 11

Retail compatibility describes the benefits a company receives by locating near other businesses selling complementary products and services.

Accepted Answer

A) True 
 B)False

Question 12

One direct way to lower annual operating costs is to locate in a state where ________.

Accepted Answer

A) there is an attractive business climate 
B) the labor market is highly competitive 
C) taxes and regulatory costs are lowest 
D) the key markets are relatively accessible 
A) there is an attractive business climate 
B) the labor market is highly competitive 
C) taxes and regulatory costs are lowest 
D) the key markets are relatively accessible

Question 13

The "Best and Worst States for Doing Business" indicates that California is one of the least attractive states in which to do business based on these factors ________.

Accepted Answer

A) wage costs based on hourly and salaried compensation 
B) tax costs and electricity costs 
C) industrial and office rent costs 
D) All the above 
A) wage costs based on hourly and salaried compensation 
B) tax costs and electricity costs 
C) industrial and office rent costs 
D) All the above

Question 14

The location has far-reaching ramifications (such as high-tech companies)that need ________.

Accepted Answer

A) a highly-skilled work force 
B) a high traffic site 
C) easy access to shipping routes 
D) a nearby retail district 
A) a highly-skilled work force 
B) a high traffic site 
C) easy access to shipping routes 
D) a nearby retail district

Question 15

Mini-Case 14-2: "It's a Great Location for a Bar"
Fred Stanford has just completed bartenders' school in Los Angeles and is ready to build a life for himself. Sunday's paper has an ad in the business opportunities section for a bar in Mesa Verde, Colorado. Fred has heard that the West is a high growth area and the quality of life in Colorado is very good. Fred's best friend, Carl, begins to ask Fred some questions about his new idea. "To begin with, Fred, where is Mesa Verde, Colorado?"
Fred decides to call the telephone number in the ad and is put in touch with Ansel King, a business broker located in Pueblo, Colorado. When asked where in Colorado Mesa Verde was, Ansel was prompt to point out that it was only 35 miles from Pueblo on the Interstate and has a population of nearly ten thousand. "Fred, this town is a great location for a bar, and I have just the kind of deal for a young man like you looking to get started."
-What city-related factors does Fred need to consider when evaluating this community as a location for a bar?

Accepted Answer

Fred should look at the city's populatio

Question 16

Which of the following information is available from U.S. Census data?

Accepted Answer

A) The value of the homes in an area 
B) The number of rooms in the homes in an area 
C) Number of vehicles owned 
D) All of the above 
A) The value of the homes in an area 
B) The number of rooms in the homes in an area 
C) Number of vehicles owned 
D) All of the above

Question 17

Select six of the features that are important to a lean, efficient manufacturing layout and identify a potential benefit that they may offer the business.

Accepted Answer

Students are to respond with five of the

Question 18

One of the key factors in choosing a location for a convenience store is finding a location with high traffic volume and easy accessibility.

Accepted Answer

A) True 
 B)False

Question 19

A regional shopping mall serves a large trading area (10 to 15 miles or more), contains from 50 to 100 stores, and draws customers from a population that lives within 20 to 40 minutes driving time.

Accepted Answer

A) True 
 B)False

Question 20

Locating close to ________ is critical for manufacturers, service providers and other companies that will be competitive.

Accepted Answer

A) markets they plan to serve 
B) suppliers 
C) transportation routes 
D) airports and rail transportation 
A) markets they plan to serve 
B) suppliers 
C) transportation routes 
D) airports and rail transportation

A glass manufacturer that requires an extremely pure, very fine sand in its production process would be most concerned about the ________.

A power center combines the drawing strength of a large regional mall with the convenience of a neighborhood shopping center.

The key to finding a suitable location is identifying the characteristics that can give a company a competitive edge and then searching out potential sites that meet those criteria.

List and discuss the eight options where retail and service businesses can serve their customers. What are their advantages and disadvantages?

The most important factor when evaluating the labor supply in an area is its prevailing wage rate.

Clothing is one of the most popular items sold in regional shopping malls.

A ________ combines the drawing strength of a large regional mall with the convenience of a neighborhood shopping center.

Based on the above calculations, what is the entrepreneur's best option?

________ provides useful demographic information in eight areas.

A ________ center combines the drawing strength of a large regional mall with the convenience of a neighborhood shopping center.

Retail compatibility describes the benefits a company receives by locating near other businesses selling complementary products and services.

One direct way to lower annual operating costs is to locate in a state where ________.

The "Best and Worst States for Doing Business" indicates that California is one of the least attractive states in which to do business based on these factors ________.

The location has far-reaching ramifications (such as high-tech companies)that need ________.

Which of the following information is available from U.S. Census data?

Select six of the features that are important to a lean, efficient manufacturing layout and identify a potential benefit that they may offer the business.

One of the key factors in choosing a location for a convenience store is finding a location with high traffic volume and easy accessibility.

A regional shopping mall serves a large trading area (10 to 15 miles or more), contains from 50 to 100 stores, and draws customers from a population that lives within 20 to 40 minutes driving time.

Locating close to ________ is critical for manufacturers, service providers and other companies that will be competitive.

The Foundations of Entrepreneurship

Ethics and Social Responsibility: Doing the Right Thing

Creativity and Innovation: Keys to Entrepreneurial Success

Conducting a Feasibility Analysis and Designing a Business Model

Crafting a Business Plan and Building a Solid Strategic Plan

Forms of Business Ownership

Buying an Existing Business

Franchising and the Entrepreneur

Building a Powerful Bootstrap Marketing Plan

E-Commerce and the Entrepreneur

Pricing and Credit Strategies

Creating a Successful Financial Plan

Managing Cash Flow

Sources of Financing: Equity and Debt

Global Aspects of Entrepreneurship

Building a New Venture Team and Planning for the Next Generation

Filters

Exam 14: Choosing the Right Location and Layout

A glass manufacturer that requires an extremely pure, very fine sand in its production process would be most concerned about the ________.

A power center combines the drawing strength of a large regional mall with the convenience of a neighborhood shopping center.

The key to finding a suitable location is identifying the characteristics that can give a company a competitive edge and then searching out potential sites that meet those criteria.

List and discuss the eight options where retail and service businesses can serve their customers. What are their advantages and disadvantages?

The most important factor when evaluating the labor supply in an area is its prevailing wage rate.

Clothing is one of the most popular items sold in regional shopping malls.

A ________ combines the drawing strength of a large regional mall with the convenience of a neighborhood shopping center.

Based on the above calculations, what is the entrepreneur's best option?

________ provides useful demographic information in eight areas.

A ________ center combines the drawing strength of a large regional mall with the convenience of a neighborhood shopping center.

Retail compatibility describes the benefits a company receives by locating near other businesses selling complementary products and services.

One direct way to lower annual operating costs is to locate in a state where ________.

The "Best and Worst States for Doing Business" indicates that California is one of the least attractive states in which to do business based on these factors ________.

The location has far-reaching ramifications (such as high-tech companies)that need ________.

Which of the following information is available from U.S. Census data?

Select six of the features that are important to a lean, efficient manufacturing layout and identify a potential benefit that they may offer the business.

One of the key factors in choosing a location for a convenience store is finding a location with high traffic volume and easy accessibility.

A regional shopping mall serves a large trading area (10 to 15 miles or more), contains from 50 to 100 stores, and draws customers from a population that lives within 20 to 40 minutes driving time.

Locating close to ________ is critical for manufacturers, service providers and other companies that will be competitive.

The Foundations of Entrepreneurship

Ethics and Social Responsibility: Doing the Right Thing

Creativity and Innovation: Keys to Entrepreneurial Success

Conducting a Feasibility Analysis and Designing a Business Model

Crafting a Business Plan and Building a Solid Strategic Plan

Forms of Business Ownership

Buying an Existing Business

Franchising and the Entrepreneur

Building a Powerful Bootstrap Marketing Plan

E-Commerce and the Entrepreneur

Pricing and Credit Strategies

Creating a Successful Financial Plan

Managing Cash Flow

Sources of Financing: Equity and Debt

Global Aspects of Entrepreneurship

Building a New Venture Team and Planning for the Next Generation

Filters