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ESB Study Review Questions and Answers 2024
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Exam of 5 pages for the course esb at esb (ESB Study Review)
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ESB Study ReviewWhat to research for competitive information (What to research about your competition.
- answer pricing and marketing
She has a fix cost of 3,000 and the average cost of the item is 2.25 and she sells it for
4.25.
What is her break-even cost? - answer1,500
( 3000/(4.25-2.25)2=1,500)
Break even= fix cost/profit)
What is angel investor, crowdfunding, bootstrapping, and incubators? - answer Angel
investors- invest for equity
Crowd funding- An online method of fundraising(social media)
Bootstrapping- When the start-up cost comes mainly from the owners personal savings
Incubators- Various programs that provide support to start-ups(coaching, money, ect.)
A LLC must pay taxes T/F - answerTrue
What are 3 services that incubators offer to start-up companies? - answerMoney
Training
Coaching
Workspace
What expenses are considered a startup? - answerLicense
Permits
Click-through rate type of business key performance indicators is? - answerMarketing
Metrics
What would lead to updated safety procedures - answerIncreased injuries/deaths
Taking on business debt is a requirement for entrepreneurship
True or False - answerFalse
What type of agreement do you need for a company to sell your logo? -
answerLicensing agreement
One objective of entrepreneurship is to make a profit.
true or false - answerTrue
, What sale metrics type can a company use to analyze its performance? - answerMarket
Penetration
Year-Over-Year Growth
Net Promoter Score (NPS)
definition: what is cto, ceo, coo, cmo, cfo? - answerThe chief technology officer (CTO)
The chief executive officer (CEO)
The chief operational officer (COO)
The chief marketing officer (CMO)
The chief Financial officer (CFO)
Calculate the rate of investment ROI - answerROI = Net income / Cost of investment x
100.
money spent/profit
what are the risks of being an entrepreneur? - answer-Depending on cash
-competition
-Market demand for product/service
What is an opportunity in the SWOT analysis business - answerless competitors
Operating expenses reflect the operational activities, not the investing or financing
activities of a company - answerTrue
Potential drawbacks of being an entrepreneur - answerCompetition with others
-Longer work hours
- inconsistent income
Fulfillment centers acquire goods from multiple vendors and deliver them to a customer
- answerTrue
Wholesalers are part of a direct distribution channel - answerTrue
Fulfillment centers are part of a direct distribution channel - answerFalse
types of production processes for a product (5) - answerMass production
-Batch production
-Just-in time production
-Job production
-Service production
Steps of Sales Process In Order - answerprospecting, preparation,
approach, presentation,
objections, closing, follow-up
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