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Entrepreneurship and Small Business (ESB) Pre-test Questions With 100% correct Solutions.
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Entrepreneurship and Small Business (ESB) Pre-test Questions With 100% correct Solutions.
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Entrepreneurship and Small Business(ESB) Pre-test Questions With 100%
correct Solutions.
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?
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