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Entrepreneurship and Small Business (ESB) Pre-test CA$13.87   Add to cart

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Entrepreneurship and Small Business (ESB) Pre-test

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Entrepreneurship and Small Business (ESB) Pre-test

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  • July 29, 2023
  • 3
  • 2022/2023
  • Exam (elaborations)
  • Questions & answers
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Entrepreneurship and Small Business
(ESB) Pre-test
Service Answer- A head chef conducts a survey of other restaurants in the area. The
chef notices that most customer complaints primarily come from takeout order being
delayed. The chef believes that having a short-order cook dedicated to primarily
come from takeout orders being delayed. The chef believes that having a short-order
cook dedicated to primarily come from takeout orders being delayed. The chef
believes that having a short-order cook dedicated to preparing carryout orders will
make his restaurant the fastest and most dependable place for takeout customers.

By spending scare resources on hiring a short-order cook, what competitive
advantage factor is the chef trying to achieve at his/her restaurant?

Personal Financial Insecurity Answer- What is considered to be primary risk for an
entrepreneur who is launching a start-up company?

Easier to finance a business purchase than a business start-up Answer- What is a
key benefit of buying an existing small business versus launching a start-up?

Hotels Answer- A travel agent wants to start-up a new travel company. He pays a
market research company to survey 100 frequent affluent vacation travelers about
luxury travel options. The market research responses:

Which luxury travel service would contribute the most to the profitability of the start-
up business?

A) Sending discount coupons to car owner who lives within 5 miles of the shop

B) Giving current customers a loyalty discount Answer- A new auto mechanic
business wants to grow revenues. What are marketing methods that promise to
create new customers?

Pick the two best answer.

Providing 24 hour member access Answer- A fitness trainer is presenting a business
plan for a new studio to investors. The trainer envisions a studio with equipment and
features that will meet the needs of customers with a variety of personal and work
schedules.

What studio feature would appeal to customers with demanding schedules?

Investors do not earn a return (dividends or increased stock price) if the business
does not make a profit Answer- When entrepreneur convinces outside investors to
contribute equity to the new venture, which is true?

Probable loss of current and future clients Answer- Whats is a consequence for a
real estate agent who violates confidentiality by discussing the client's personal
income after work at a party?

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