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ESB Questions And Answers Graded A+
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ESB Questions And Answers Graded A+
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ESB Questions And Answers GradedA+
Online Networking -Answer Each day, Donnie posts the progress of her new
building to Facebook as a countdown to opening her business. What type of
networking is Donnie using?
Increase of service -Answer Ophelia discovers her competitor's turnaround time is
double her turnaround time. What should Ophelia's new marketing strategy be to
woo back her customers?
Which three things are defined when doing a self-assessment? -Answer Risk
tolerance, strengths, and weaknesses
Which description best fits an entrepreneur? -Answer Willing to take risks
After a self assessment, Julie realizes she has no clue how to figure out whether her
restaurant is profitable. What should Julie
do? -Answer Get some basic accounting knowledge
Which is considered to be the largest risk of being an entrepreneur? -Answer loss of
money
Which two characteristics best describe entrepreneurs? -Answer Creative and
adaptable
Which is considered to be a great immediate benefit of being an entrepreneur? -
Answer More schedule control
Courage -Answer A willingness to take risks despite possible losses
Value achievement -Answer The desire to succeed over the desire of money
Tenacious -Answer A willingness to see things through
Self-reliant -Answer The ability to consistently believe in the entrepreneurial dream
Attending a Chamber of Commerce event -Answer Sharing information with local
businesses
Talking to people in a store -Answer Face-to-face conversations
Posting information to Facebook -Answer Marketing to online communities
Going to a trade show -Answer Sharing information with others in your industry
Many of Fran's customers complain about a lack of available flooring companies in
the area and that of those companies, the prices are too high. what can be a good
marketing strategy? -Answer Lower prices
, ESB Questions And Answers Graded
A+
Which are traits of a successful entrepreneur? There's three. -Answer patient,
confident, enthusiastic
Which entrepreneurial trait best deals with ambiguity? -Answer patience
Todd is rejected for lack of collateral. Todd then turns to private investors in an effort
to get the business started. What entrepreneurial characteristic is Todd exhibiting? -
Answer Flexibility
In the last 10 years, Ronnie has moved five times to five different states. What about
Ronnie could hamper potential success for this business? -Answer A lack of
patience
Besides defining strengths and weaknesses, what is the other main factor
determined during a self-assessment? -Answer risk tolerance
After a self-assessment, Peter realizes he wants to start a plumbing business, but
doesn't want to risk a lot of his own money. What would be his best option? -Answer
Purchase an existing business
Upon researching the situation, Donnie decides to open a doggie daycare facility.
Which marketing option for this new business should be a point of emphasis? -
Answer Location
Which are considered risks of being an entrepreneur? (Three) -Answer Long hours,
financial instability, and possibility of failure
Which are considered rewards of being an entrepreneur? (Three) -Answer Bigger
community asset, Working the way one chooses, Better earnings
George wants to take his passion for gold and open a golf academy. What would be
benefits George could enjoy from this experience? (Two) -Answer Financial gain
and satisfaction of pursuing his passion
Phyllis opens a new pet store in a growing area of town but the new store fails and
closes after a year. How should Phyllis best handle this? -Answer Evaluate why the
business failed and use the knowledge for the future
Rey often is dissatisfied with the stagnation of her job and wants to open her own
transportation service. Which benefit of entrepreneurship will be the biggest one for
Rey? -Answer Autonomy
Which are the three reasons to buy a franchise instead of starting a new business? -
Answer Proven business model, guaranteed income, easier to finance
Which is a drawback to starting a business from scratch instead of buying a
franchise or pre-existing business? -Answer Greater probability of failuer
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