Exam (elaborations)
ESB V.2 EXAM 2/42 QUESTIONS AND ANSWERS/READY TO PASS!!!
- Course
- Institution
ESB V.2 EXAM 2/42 QUESTIONS AND ANSWERS/READY TO PASS!!!
[Show more]
Seller
Follow
Nursephil2023
Reviews received
Content preview
ESB V.2 EXAM 2/42 QUESTIONS ANDANSWERS/READY TO PASS!!!
In general, which two characteristics define a "small" business? (Choose two)
- -Fewer then 1,500 employees
AND
Less than $35.5 million revenue
-Classify each of the following businesses as either Physical or Digital. - -
Physical:
- Bakery in your community
- Hair salon that makes appointments online
Digital:
- Online store that dropships camping gear
- Bookstore on Amazon that sells eBooks
-You need to create a legal structure for your small business. You have plans
for it to grow and hope in the future to sell shares to the public. Your startup
partners are citizens of Mexico and Japan. You do not want to be personally
responsible for business liabilities.
Which legal structure should you set up for your business? - -C-Corporation
-Match each business management role to its corresponding description.
To answer, move each role from the list on the left to its description on the
right. - -COO: Oversees the day-to-day administrative functions of a
business; second in command.
CIO: Develops policies and structures to protect company data.
CFO: Creates budgets, analyzes financial data, and forecasts company
profits.
CEO: The highest-ranking employee in the company; reports to the board of
directors.
-You own a lawn care business. You have employees who work long hours
laboring in good weather, often exceeding 40 hours per week. They also
work short hours when the weather is bad, sometimes they can't work at all.
You do all of the sales for your business.
, Which two types of compensation would be appropriate for these landscape
employees? - -Salary & Hourly
-Match each Stage of the Business Life Cycle to its corresponding
description.
To answer, move each stage from the list on the left to its description on the
right. - -Maturity: The business is separate from the owner with
responsibilities delegated to staff. A business in this stage usually commands
a considerable share of the market and may even be a household name.
Success: Company is stable and profitable.
Takeoff: Expansion strategies are implemented, and investment is balanced
with potential.
Survival of the Fittest: Focus shifts to revenue, expenses, and growth.
Cashflow is the major issue.
Existence: The business introduces itself to the market and attempts to catch
the attention of potential customers.
-For each statement about the Design Thinking Process, select True or False.
- -True:
- Assumptions are challenged and ideas are created in the Ideate phase.
- Problem statements are written in the Define phase.
False:
- The Empathize phase tests solutions to users' problems.
- Building Prototypes is the final phase of the Design Thinking Process.
-Which of these is a characteristic of a successful entrepreneur mindset? - -
Doesn't give up easily
-Which is one of the greatest risks of being an entrepreneur? - -Financial
instability
-What is a primary benefit of starting a new business without purchasing a
franchise or buying an existing business? - -Developing your own rules
-A rancher is preparing to retire. He is considering selling half of his land and
giving the other half to his children. He hears that development for a ski
resort was just approved on land adjacent to his property.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Nursephil2023. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75759 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now