Starting A Small Business Review Questions

Management profiles do NOT include which of the following?

a description of family

Which of the following is NOT suggested to prevent group think?

avoid members with dominate personalities

Which of the following is NOT one of the key elements of a business plan?

development calendar

What is the first and primary question you should ask yourself before starting a small business?

do I have what it takes

Which of the following is NOT one of the consideration to determine if you "have what it takes" to start a business?

experience

The statement "To increase our brand recognition" is an example of which of the following?

goal

The phenomenon demonstrating individual's desire to get along and avoid conflict is known as?

group think

What structures adopt the chain-of-command methodology?

hierachical

Site locators____ your ability to promote your business and be successful?

increase

What business structures work great for small businesses?

learning-based

Which section of the business plan identifies a target market?

market analysis

Which section of the business plan discusses how you plan to enter the industry and grow your business?

market and sales

The clear, broad statement describing the purpose of a business is known as?

mission statement

Which type of market test engages the snowball effect?

network

What is the term for specific, time-sensitive accomplishments used to measure the short-term progress of an organization?

objectives

With what office do you register your business name?

secretary of state

Which section of business plan should be the bulk of the plan?

service/ and or product line

The decision to buy or lease equipment should be?

team decision

When conducting a market analysis, you should forecast the next?

three to five years

When starting a new business, you should be prepared for?

twelve-hour workdays six to seven days each week