Exam 2: Entrepreneurship

The Small Business Administration offers an array of programs to help small business owners and prospective business owners.Services include all of the following assistance in_____.

When buying a franchise, the business owner must pay a monthly royalty fee but typically reserves the right to buy core products from other suppliers.

A company is considered large if it _____.

Franchises generally don't include such complex products as hotels.

If you run a _____, you may find that you must adhere to certain rules even if you disagree with some of them.

When it has more than one ____, a business can operate as a partnership or a corporation.

The _____

A small business that buys goods from other firms and sells them to consumers is known as a _____.

The "Development and Production"

The key to coming up with a great business idea is to:

As a business owner, if you need individualized advice from experienced executives on how to manage your business, you can get it through the Service Corps of Retired Executives (SCORE).

The success of small businesses in fostering creativity has gone unnoticed by big businesses.

In her business plan, Shelia Pataki has included a two-page overview called the _____.

If you purchase a business, it is lawful for the previous owner to set up a competing business that draws its former and your current customers away from you _____.

Peter Jackson has included the résumés of his management team and a set of financial statements in his business plan.In what

The "Financial Plan"

A survey conducted by the Wall Street Journal indicates that, by and large, small business owners have had more satisfying business experiences than they would have had as top-level executives.

A(n) _____ is someone who identifies a business opportunity and assumes the risk of creating and running a business to take advantage of it.

What is the most common use of a business plan?

Over the last two decades, women have become the majority of small business owners.