Question 1

What is the 40-30-20-10 rule in retailing?

Accepted Answer

A) A way of figuring who your best and worst customers are 
B) A formula for calculating the ratio of expenditures on signage,displays,advertising,and interior decorating 
C) An expression of the decline of the value of store space as you move front to back in the store 
D) The percentage of customers who move straight into a store,go right,go left,leave before fully entering 
A) A way of figuring who your best and worst customers are 
B) A formula for calculating the ratio of expenditures on signage,displays,advertising,and interior decorating 
C) An expression of the decline of the value of store space as you move front to back in the store 
D) The percentage of customers who move straight into a store,go right,go left,leave before fully entering

Question 2

Manufacturers can lower materials handling costs by using layout designed so that product flow is automated whenever possible and flow distances and times are minimized.

Accepted Answer

A) True 
 B)False

Question 3

A Geographic Information System (GIS):

Accepted Answer

A) is a software package combining the ability to draw detailed maps with the power to search through databases. 
B) helps entrepreneurs discover important trends and characteristics in the population that otherwise might go unnoticed. 
C) can be an incredibly powerful tool for determining the ideal location based on specific criteria the entrepreneur establishes. 
D) All of the above 
A) is a software package combining the ability to draw detailed maps with the power to search through databases. 
B) helps entrepreneurs discover important trends and characteristics in the population that otherwise might go unnoticed. 
C) can be an incredibly powerful tool for determining the ideal location based on specific criteria the entrepreneur establishes. 
D) All of the above

Question 4

An effective retail layout should:

Accepted Answer

A) pull customers into the store. 
B) make it easy for customers to locate the merchandise they are looking for. 
C) take customers past displays of items they might buy on impulse. 
D) All of the above 
A) pull customers into the store. 
B) make it easy for customers to locate the merchandise they are looking for. 
C) take customers past displays of items they might buy on impulse. 
D) All of the above

Question 5

Retailers should be careful not to locate near anyone in direct competition with them.

Accepted Answer

A) True 
 B)False

Question 6

The most common sponsors of business incubators are:

Accepted Answer

A) colleges and universities. 
B) government agencies. 
C) private investment groups. 
D) public/private partnerships. 
A) colleges and universities. 
B) government agencies. 
C) private investment groups. 
D) public/private partnerships.

Question 7

When the cost of transporting finished goods to market is high relative to their value,the key location criterion is:

Accepted Answer

A) low rental or lease rates. 
B) proximity to raw materials. 
C) proximity to markets. 
D) zoning regulations. 
A) low rental or lease rates. 
B) proximity to raw materials. 
C) proximity to markets. 
D) zoning regulations.

Question 8

Which of the following is an important consideration for an entrepreneur evaluating a shopping mall or center location?

Accepted Answer

A) In terms of customer demographics,is the mall or center a good fit for my products or services? How much foot traffic and vehicle traffic does the mall or center generate? 
B) Who are the other tenants? The anchor tenants? Is there a good fit for my products and services? 
C) What are the mall's or center's vacancy and turnover rates? 
D) All of the above 
A) In terms of customer demographics,is the mall or center a good fit for my products or services? How much foot traffic and vehicle traffic does the mall or center generate? 
B) Who are the other tenants? The anchor tenants? Is there a good fit for my products and services? 
C) What are the mall's or center's vacancy and turnover rates? 
D) All of the above

Question 9

The ________ 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) neighborhood shopping center 
B) community shopping center 
C) regional shopping mall 
D) central business district 
A) neighborhood shopping center 
B) community shopping center 
C) regional shopping mall 
D) central business district

Question 10

For a service company that goes into its customers' homes to perform its service,the choice to locate in the entrepreneur's home is a poor one.

Accepted Answer

A) True 
 B)False

Question 11

Ergonomics is one of lean manufacturing's seven forms of waste.

Accepted Answer

A) True 
 B)False

Question 12

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

Accepted Answer

A) True 
 B)False

Question 13

When examining a state's available labor force,the potential business owner needs to know:

Accepted Answer

A) the state's labor relations history. 
B) the demographics of the target customers. 
C) both the number and education of the available workforce. 
D) the proximity of its customers. 
A) the state's labor relations history. 
B) the demographics of the target customers. 
C) both the number and education of the available workforce. 
D) the proximity of its customers.

Question 14

What publications could Fred use to investigate whether or not this is a good region for this bar?

Accepted Answer

This case study offers students a chance

Question 15

Under the Americans with Disabilities Act,a newly constructed:

Accepted Answer

A) building must have elevators if they are three stories or higher. 
B) retail store must have checkout aisles wide enough to accommodate wheelchairs (36 inches). 
C) restaurant must make five percent of its tables accessible to wheelchair-bound patrons. 
D) All of the above 
A) building must have elevators if they are three stories or higher. 
B) retail store must have checkout aisles wide enough to accommodate wheelchairs (36 inches). 
C) restaurant must make five percent of its tables accessible to wheelchair-bound patrons. 
D) All of the above

Question 16

Which of the following statements concerning store layout is true?

Accepted Answer

A) The farther an area is from the store's entrance,the greater its value. 
B) Most shoppers turn left upon entering a store and move around it in a clockwise fashion. 
C) Only about one-fourth of a store's customers will go more than halfway into a store. 
D) The second quarter of the store is worth one-half of the front quarter. 
A) The farther an area is from the store's entrance,the greater its value. 
B) Most shoppers turn left upon entering a store and move around it in a clockwise fashion. 
C) Only about one-fourth of a store's customers will go more than halfway into a store. 
D) The second quarter of the store is worth one-half of the front quarter.

Question 17

A ________ is a special exemption to a zoning ordinance.

Accepted Answer

A) variance 
B) exception 
C) trade area 
D) cluster 
A) variance 
B) exception 
C) trade area 
D) cluster

Question 18

The central business district (CBD):

Accepted Answer

A) is the traditional center of town. 
B) in many cities experienced decay in years past as customers began shopping more frequently at malls and shopping centers,but are now going through revitalization programs. 
C) attracts customers from the entire trading area of the city. 
D) All of the above 
A) is the traditional center of town. 
B) in many cities experienced decay in years past as customers began shopping more frequently at malls and shopping centers,but are now going through revitalization programs. 
C) attracts customers from the entire trading area of the city. 
D) All of the above

Question 19

When designing the layout of a store,office,or plant,a business owner's primary focus should be minimizing costs.

Accepted Answer

A) True 
 B)False

Question 20

The Justice Department estimates that more than 20 percent of the cases customers have filed under the Americans with Disabilities Act involved changes the business owners would have made at no cost.

Accepted Answer

A) True 
 B)False

What is the 40-30-20-10 rule in retailing?

Manufacturers can lower materials handling costs by using layout designed so that product flow is automated whenever possible and flow distances and times are minimized.

A Geographic Information System (GIS):

An effective retail layout should:

Retailers should be careful not to locate near anyone in direct competition with them.

The most common sponsors of business incubators are:

When the cost of transporting finished goods to market is high relative to their value,the key location criterion is:

Which of the following is an important consideration for an entrepreneur evaluating a shopping mall or center location?

The ________ 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.

For a service company that goes into its customers' homes to perform its service,the choice to locate in the entrepreneur's home is a poor one.

Ergonomics is one of lean manufacturing's seven forms of waste.

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

When examining a state's available labor force,the potential business owner needs to know:

What publications could Fred use to investigate whether or not this is a good region for this bar?

Under the Americans with Disabilities Act,a newly constructed:

Which of the following statements concerning store layout is true?

A ________ is a special exemption to a zoning ordinance.

The central business district (CBD):

When designing the layout of a store,office,or plant,a business owner's primary focus should be minimizing costs.

The Justice Department estimates that more than 20 percent of the cases customers have filed under the Americans with Disabilities Act involved changes the business owners would have made at no cost.

The Foundations of Entrepreneurship

Inside the Entrepreneurial Mind: From Ideas to Reality

Designing a Competitive Business Model and Building a Solid Strategic Plan

Conducting a Feasibility Analysis and Crafting a Winning Business Plan

Forms of Business Ownership

Franchising and the Entrepreneur

Buying an Existing Business

Building a Powerful Marketing Plan

E-Commerce and the Entrepreneur

Pricing Strategies

Creating a Successful Financial Plan

Managing Cash Flow

Sources of Financing: Debt and Equity

Global Opportunities

Building a Team and Management Succession

Filters

Exam 14: Choosing the Right Location and Layout

What is the 40-30-20-10 rule in retailing?

Manufacturers can lower materials handling costs by using layout designed so that product flow is automated whenever possible and flow distances and times are minimized.

A Geographic Information System (GIS):

An effective retail layout should:

Retailers should be careful not to locate near anyone in direct competition with them.

The most common sponsors of business incubators are:

When the cost of transporting finished goods to market is high relative to their value,the key location criterion is:

Which of the following is an important consideration for an entrepreneur evaluating a shopping mall or center location?

The ________ 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.

For a service company that goes into its customers' homes to perform its service,the choice to locate in the entrepreneur's home is a poor one.

Ergonomics is one of lean manufacturing's seven forms of waste.

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

When examining a state's available labor force,the potential business owner needs to know:

What publications could Fred use to investigate whether or not this is a good region for this bar?

Under the Americans with Disabilities Act,a newly constructed:

Which of the following statements concerning store layout is true?

A ________ is a special exemption to a zoning ordinance.

The central business district (CBD):

When designing the layout of a store,office,or plant,a business owner's primary focus should be minimizing costs.

The Justice Department estimates that more than 20 percent of the cases customers have filed under the Americans with Disabilities Act involved changes the business owners would have made at no cost.

The Foundations of Entrepreneurship

Inside the Entrepreneurial Mind: From Ideas to Reality

Designing a Competitive Business Model and Building a Solid Strategic Plan

Conducting a Feasibility Analysis and Crafting a Winning Business Plan

Forms of Business Ownership

Franchising and the Entrepreneur

Buying an Existing Business

Building a Powerful Marketing Plan

E-Commerce and the Entrepreneur

Pricing Strategies

Creating a Successful Financial Plan

Managing Cash Flow

Sources of Financing: Debt and Equity

Global Opportunities

Building a Team and Management Succession

Filters