Question 1

When you start your business,your ________ will guide the business operations and decisions.

Accepted Answer

A) Core beliefs 
B) Track record 
C) Competitive offers 
D) Guiding light 
E) Core theories 
A) Core beliefs 
B) Track record 
C) Competitive offers 
D) Guiding light 
E) Core theories

Question 2

A typical unit of sale for a wholesaler would be ________.

Accepted Answer

A) One hour of work 
B) A block of time devoted to a task 
C) One item 
D) One dozen 
E) All of the above 
A) One hour of work 
B) A block of time devoted to a task 
C) One item 
D) One dozen 
E) All of the above

Question 3

A target market can never be too broad and unfocused.

Accepted Answer

A) True 
 B)False

Question 4

Before you can start your business,you must define it.Describe the questions that the business definition answers and its three elements.

Accepted Answer

A business definition answers the questi

Question 5

Which of the following is not a strong method of identifying business opportunities?

Accepted Answer

A) A person has a talent for making something and decides that they should go into business. 
B) Searching through a process of identification and selection starting with research on "hot" businesses or growth areas. 
C) Searching through a process of identification and selection beginning with self-developed (or group-developed)ideas. 
D) All of the above 
E) None of the above 
A) A person has a talent for making something and decides that they should go into business. 
B) Searching through a process of identification and selection starting with research on "hot" businesses or growth areas. 
C) Searching through a process of identification and selection beginning with self-developed (or group-developed)ideas. 
D) All of the above 
E) None of the above

Question 6

Leaders of a company build a particular culture by making the beliefs,values,and behavioral norms explicit and intentional.

Accepted Answer

A) True 
 B)False

Question 7

Trey has a T-shirt business that buys shirts from a wholesaler for four dollars each and sells them to retailers for eight dollars each.He imprints each shirt with a picture of a musical artist that costs him two dollars.He also pays his cousin to do the printing at five dollars an hour.LaShawn prints five shirts per hour.A retailer offers to buy 1000 shirts at seven dollars each.Should Tray agree to the deal?

Accepted Answer

A) Yes,Tray will make a profit of one dollar per shirt. 
B) Yes,Tray will make a profit of two dollars per shirt. 
C) No,Tray will not make a profit at this price. 
D) No,Tray's profit at this price is too small. 
E) None of the above 
A) Yes,Tray will make a profit of one dollar per shirt. 
B) Yes,Tray will make a profit of two dollars per shirt. 
C) No,Tray will not make a profit at this price. 
D) No,Tray's profit at this price is too small. 
E) None of the above

Question 8

Giovanni's entrepreneurial venture produces a tangible product.This is an example of a ________ venture.

Accepted Answer

A) Service 
B) Wholesale 
C) Manufacturing 
D) None of the above 
E) All of the above 
A) Service 
B) Wholesale 
C) Manufacturing 
D) None of the above 
E) All of the above

Question 9

A ________ is a group of people who would be interested in buying a given product or service.

Accepted Answer

A) Market 
B) Target 
C) Customer 
D) Consumer 
E) Shopper 
A) Market 
B) Target 
C) Customer 
D) Consumer 
E) Shopper

Question 10

What type of business buys in bulk from a manufacturer and sells smaller quantities to a retailer?

Accepted Answer

A) Wholesaler 
B) Attorney 
C) Consumer driven 
D) Service firm 
E) All of the above 
A) Wholesaler 
B) Attorney 
C) Consumer driven 
D) Service firm 
E) All of the above

When you start your business,your ________ will guide the business operations and decisions.

A typical unit of sale for a wholesaler would be ________.

A target market can never be too broad and unfocused.

Before you can start your business,you must define it.Describe the questions that the business definition answers and its three elements.

Which of the following is not a strong method of identifying business opportunities?

Leaders of a company build a particular culture by making the beliefs,values,and behavioral norms explicit and intentional.

Giovanni's entrepreneurial venture produces a tangible product.This is an example of a ________ venture.

A ________ is a group of people who would be interested in buying a given product or service.

What type of business buys in bulk from a manufacturer and sells smaller quantities to a retailer?

Entrepreneurs Recognize Opportunities

Franchising

Finding Opportunity in an Existing Business

The Business Plan: Road Map to Success

Exploring Your Market

Developing the Right Marketing Mix and Plan

Pricing and Credit Strategies

Integrated Marketing Communications

Marketing Globally

Smart Selling and Effective Customer Service

Understanding and Managing Start-Up, fixed, and Variable Costs

Using Financial Statements to Guide a Business

Cash Flow and Taxes

Financing Strategy: Debt, equity, or Both

Addressing Legal Issues and Managing Risk

Operating for Success

Location, facilities, and Layout

Human Resources and Management

Leadership and Ethical Practices

Franchising, licensing, and Harvesting: Cashing in Your Brand

Filters

Exam 5: Creating Business From Opportunity

When you start your business,your ________ will guide the business operations and decisions.

A typical unit of sale for a wholesaler would be ________.

A target market can never be too broad and unfocused.

Before you can start your business,you must define it.Describe the questions that the business definition answers and its three elements.

Which of the following is not a strong method of identifying business opportunities?

Leaders of a company build a particular culture by making the beliefs,values,and behavioral norms explicit and intentional.

Giovanni's entrepreneurial venture produces a tangible product.This is an example of a ________ venture.

A ________ is a group of people who would be interested in buying a given product or service.

What type of business buys in bulk from a manufacturer and sells smaller quantities to a retailer?

Entrepreneurs Recognize Opportunities

Franchising

Finding Opportunity in an Existing Business

The Business Plan: Road Map to Success

Exploring Your Market

Developing the Right Marketing Mix and Plan

Pricing and Credit Strategies

Integrated Marketing Communications

Marketing Globally

Smart Selling and Effective Customer Service

Understanding and Managing Start-Up, fixed, and Variable Costs

Using Financial Statements to Guide a Business

Cash Flow and Taxes

Financing Strategy: Debt, equity, or Both

Addressing Legal Issues and Managing Risk

Operating for Success

Location, facilities, and Layout

Human Resources and Management

Leadership and Ethical Practices

Franchising, licensing, and Harvesting: Cashing in Your Brand

Filters