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ESB Questions and Answers with Verified Solutions

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ESB Questions and Answers with Verified Solutions Online Networking 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 Ophelia discovers her competitor's turnaround time is doub...

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  • March 30, 2024
  • 32
  • 2023/2024
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ESB Questions and Answers with
Verified Solutions
Online Networking ✔✔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 ✔✔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? ✔✔Risk tolerance, strengths, and

weaknesses




Which description best fits an entrepreneur? ✔✔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? ✔✔Get some basic accounting knowledge




Which is considered to be the largest risk of being an entrepreneur? ✔✔loss of money

,Which two characteristics best describe entrepreneurs? ✔✔Creative and adaptable




Which is considered to be a great immediate benefit of being an entrepreneur? ✔✔More

schedule control




Courage ✔✔A willingness to take risks despite possible losses




Value achievement ✔✔The desire to succeed over the desire of money




Tenacious ✔✔A willingness to see things through




Self-reliant ✔✔The ability to consistently believe in the entrepreneurial dream




Attending a Chamber of Commerce event ✔✔Sharing information with local businesses




Talking to people in a store ✔✔Face-to-face conversations

,Posting information to Facebook ✔✔Marketing to online communities




Going to a trade show ✔✔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?

✔✔Lower prices




Which are traits of a successful entrepreneur? There's three. ✔✔patient, confident, enthusiastic




Which entrepreneurial trait best deals with ambiguity? ✔✔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? ✔✔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? ✔✔A lack of patience

, Besides defining strengths and weaknesses, what is the other main factor determined during a

self-assessment? ✔✔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? ✔✔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? ✔✔Location




Which are considered risks of being an entrepreneur? (Three) ✔✔Long hours, financial

instability, and possibility of failure




Which are considered rewards of being an entrepreneur? (Three) ✔✔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) ✔✔Financial gain and satisfaction of pursuing

his passion

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