A business plan is important for all the following except.

Select one:

O a. It gives lenders and investors confidence and assurance that they will earn a reasonable return.

O b. It is a selling document that allows a company to introduce itself to potential suppliers and business partners.

O c. It compels a company's founders to carefully consider every aspect of their operation.

d. It gives an investor something to think about.

The best way to describe entrepreneurship is

Select one:

O a. having a strong and clear vision.

b. taking a substantial risk in business.

O c. setting up a business.

O d. a process that involves innovation, new

products or services, and the creation of value.

Aquan, the proprietor of Aquan's Hardware, is a young businessman who has placed recycling bins throughout the office and encourages customers to use reusable shopping bags. Aquan's behaviours indicate that he is.........

Select one:

O a. partnering with locals.

• b. joining in community service.
• c. socially responsible.

O d. supporting local causes.

What type of promotional media is a business using when it sends out a postcard telling customers who recently purchased products that the business is adding a new line of products?

Select one:

a. Participative

b.Direct mail

c.Sales letter

d. Persuasive

Mary wishes to become a franchisee in order to sell products or services under the Multinational franchisor's brand name through a selective, limited distribution network. Mary should pursue..

Select one:

a. turn key franchising.

b. pure franchising.

O c. product distribution franchiding.

O d. trade-name franchising.

Why is it critical for entrepreneurs to consult with industry experts when developing new business ideas?

Select one:

O a. Financial assistance is frequently provided by industry experts.

b. Management skills are usually improved by industry experts.

O c. Industry experts frequently boost your

confidence.

O d. Typically, industry experts provide useful

information.

Debra began looking for physical locations that would fit with the theme of her online boutique while also having low overhead to maintain profitability and the competitive low prices for which her business has become known. Debra should consider........

Select one:

• . a small complex in a downtown shopping area.
• b. a beachfront villa that has been transformed into a store.

O c. a location in an industrial district.

d. a warehouse with plenty storage space.

What should you do after you have written your company's vision?

Select one:

O a. Get the highest-paying job you can find that will allow you to achieve your goals.

• b. Spend all your spare time working on yourself.
• c. Place your vision in a safe place and revisit it in 5 years.
• d. Commit to your vision by working hard and dedicating yourself to it.

The type of capital resources required by a startup business to begin operations is typically determined by

the...

Select one:

O a. owner's preferences.

b. vendors' lead time.

O c. industry.

O d. location.