Entrepreneurship.and.leadership
According to the small business administration office of advocacy how many new businesses survive for at least two years.
67%
Which Of the following is not an example of primary data
A survey, statistics from a government website, observation of customer behavior
[__]businesses generate fresh produce and other farm products
AGRICULTURAL
The personal financial statement of the owner would be included in the[__]to the business plan
APPENDIX
A talent or inane ability to do or learn something quickly is a(n)[__]
APTITUDE
The[__] is the name symbol or design used to identify product
BRAND
[__] is the goal of a new marketing trend that focuses on understanding customers as individuals instead of us part of a group
CUSTOMER RELATIONSHIP MANAGEMENT
A business plan
Can serve as a tool for managing your business once it is up and running
This resource of management does not belong
Controlling
Which of the Following is not a reason that entrepreneurs need to know who their customers are
Customers have no influence on products or services offered
That is that describe a group of people in terms of age martial status Family size income and similar characteristics are called[__]
DEMOGRAPHICS
A business that makes most of its money selling the same or similar products to the same market as other businesses is[__]competition
DIRECT
[__] or distributions of corporate profits to the shareholders
DIVIDENDS
Which of the following was NOT a provision of the American Recovery and Reinvestment Act of 2009
Decreasing equity capital for high-growth businesses
Pricing that is determined by how much customers are willing to pay for product or service is called
Demand- based pricing
Buying and selling over the Internet is known as
E - commerce
What's the newest have set up a businesses in a(n)[__] zone, an area that suffers from lack of employment opportunities may be eligible for favorable tax treatment based on the number of jobs their business create
ENTERPRISE
A(n)[__] is a short restatement of your business plan
EXECUTIVE SUMMARY
The final step of the problem-solving model is to
Evaluate the action
Price[__] involves offering different levels of prices for specific category of product based on features and quality
LINING
Main reason entrepreneurs set up corporations is because
Liability is limited to the amount of money each shareholder invested in the company
The[__] section of your business plan should describe your products and services and explain how they are different from those already on the market
MARKETING
Owners of a limited liability company are known as[__]
MEMBERS
The marketing[__]is a blending of the product, price, distribution, and promotion used to reach a target market
MIX
Establishing informal ties with people who can help your business grow is called
NetWorking
A possibility that arises from existing conditions is called[__]
OPPORTUNITY
Businesses use many strategies to maintain customer loyalty including
Offering store specific credit cards, sending birthday cards to customers, providing superior service
A business owned by two or more people is[__]
PARTNERSHIP
A marketing[__]is a written report that helps you to find your market, identify your customers and competitors, outline a strategy for attracting keeping customers, and identify and anticipate change
PLAN
Which of the following pricing strategies often is often used when introducing a new product into the market with the goal of developing a strong customer base well discouraging competition
Penetration pricing
During the late summer, Nordstrom's department store offers fall and winter clothes I discounted price for short period of time. After that time, the price of his clothing goes up and is not reduce it again until the end of the season clearance. This is an example of
Promotional pricing
The propose of including supporting documents in the appendix of the business plan is to
Provide additional information
The American recovery and[__]act of 2009 was passed to stimulate the American economy after the 2008 economic slowdown
REINVESTMENT
The U.S[__]is an independent agency of the federal government that was created to help Americans start, build and grow businesses.
SMALL BUSINESS ADMINISTRATION
The largest classification of shopping center is the[__]shopping center
SUPER-REGIONAL
A[__] for questionnaire is a list of questions he would like to ask your customers to find out demographic and psychographic information
SURVEY
A supplier, or[__]is a company that sells products and services to a business
VENDOR
Cost based pricing is determined by using the[__] cost of an item as the basis for the price charge
WHOLESALE
Mistakes to avoid when preparing a business plan include all except
Waisting time on research
A business plan is not intended for...
Your Competition
Which of the following is not one of the main purposes of a business plan
It includes sales goals for at least 10 to 12 years into the future
Organize patio size made up of professionals in a specific industry are called
Trade Associations
A section of land that is zoned for industrial businesses only is called an industrial park
True
According to some estimates, as many as 90% of all businesses, including the vast majority of small and medium size companies are owned by families
True
Employees, customer, and creditor are all stakeholders in an entrepreneur is business
True
Franchise wars often help buyers with marketing, merchandising, and site selection
True
Intellectual property is the original, creative work of an artist or inventor and may include such things as songs, nobles, artistic designs, and inventions
True
Lenders want to know where your business will be located because the location of the business often critical factor to it's success
True
Most people who own their own businesses do so for more than just monetary gain
True
Out of a retail store should have at least 4 feet of tile space to make it easy for customers to move around the store
True
Spreadsheets and databases are used for collecting and analyzing market research data
True
The franchise is an expensive way to get into the business
True
Two disadvantages of collecting primary data are the cost and time involved
True
Purpose of a business plan include the following.
Explains your idea for a product or service, it's that specific object is and describes how they will be achieved, it describes the background and experiences of the people who will run the business
A[__] is a legal agreement that gives an individual the right to market a company's products or services in a particular area
FRANCHISE
'I will learn more about starting my own business" is a good example of a smart goal
False
A patent grants property rights to an investor for 70 years
False
Longer surveys are always better because you can collect more information
False
Opening two or more restaurants in other locations around the city would be an example of a short term goal for the owner of the restaurant
False
Possibilities that arise from existing conditions are called ideas
False
The Board of Directors of a corporation is responsible for the day-to-day management of the corporation
False
The FDA is an organization that exist to help small businesses and their owners
False
The best way for an entrepreneur to make a decision is to Goliath an intuition or "gut feeling"
False
The main body of a business plan includes which of the following
Financial management
And existing business and they have built up I considerable amount of[__], or customer royalty
GOODWILL
A(n)[__] strategy, or existing strategy, is the way in entrepreneur intends to extract his or her money from a business after it is operating successfully
HARVEST
Most Businesses need all of the following types of supplies and equipment except
Heavy machinery
It's question shut off when you were answer in order to identify the target market it
How much money do customer service? How old are my customer? What needs or wants will my products satisfy?
A franchisee
Is dependent on the performance of other franchisees in the chain
The[__] is the person who pays rent to occupy space owned by someone else
TENAN
Organization is made up of professionals in a specific industry are called[__]
TRADE ASSOCIATIONS
A[__]is a name, symbol, or special Mark used to identify a business or brand of product
TRADEMARK
Data on all of the following can be found in secondary data resources except
The number of people who purchase soft drinks at the local pizza parlor
