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Training Business Notes.(ESB TEST B)100% Correct!!
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Mike owns a doggy day care. The business is economically healthy and wants to grow the business money wise. What business life cycle stage is he in. - ANSWERSTake off. What is the difference between small businesses and entrepreneurship? - ANSWERSSmall business owner aren't always interested in ...

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  • November 13, 2024
  • 5
  • 2024/2025
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  • training business notesesb test b100 correct
  • mike owns a doggy day care the business is econo

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Training Business Notes.(ESB TEST
B)100% Correct!!

Mike owns a doggy day care. The business is economically healthy and wants to grow
the business money wise. What business life cycle stage is he in. - ANSWERSTake off.

What is the difference between small businesses and entrepreneurship? -
ANSWERSSmall business owner aren't always interested in taking on new business
opportunities.

What is the greatest risk to being an entrepreneur? - ANSWERSFinancial instability.

Trademark - ANSWERSProtects brand names and logos used on goods and services.

Copyright - ANSWERSProtects original work, such as art, writing, or music.

Trade Secrets - ANSWERSConfidential info which may be sold or licensed.

Ronda owns a food truck where she is know for her hot sauce. Which property law best
protects her recipe from being stolen or replicated. - ANSWERSTrade secrets.

Discuss what customer problem the product or services solve. - ANSWERSProblem

Brief overview of a business that talks about the company's mission and the value
provided to its customers. - ANSWERSVision and value proposition

Highlights key teams members' skills, expertise, and experience and how the qualities
work together to contribute to the management and growth of the company. -
ANSWERSTeams

Talk about the traction that a company has gained, such as crowdfunding. -
ANSWERSMilestones

Discuss how a business works, how it makes money, and talks about some of the
marketing strategies. - ANSWERSBusiness model.

Discuss what the competitions is doing and how a company could improve upon what
the competition is doing w/out being disrespectful toward the competing companies. -
ANSWERSCompetition

Specify how the investors' money will be used and why the funds are necessary to grow
the company while using data to back up the stated information. - ANSWERSAsk

, Kelley bought a rug at her local home decor store. What type o transaction is this? -
ANSWERSBusiness-to-consumer(B2C)

An executive summary should briefly explain in a business plan in____ pages. -
ANSWERSTwo

It is becoming more and more common to sell products and services_______. -
ANSWERSOnline

Empathize - ANSWERSResearch your uses' needs.

Define - ANSWERSState your users' needs and problems

Ideate - ANSWERSChallenging assumptions and create ideas

Prototype - ANSWERSCreate solutions

Test - ANSWERSTry your solutions

By default, owners of equity in a business are founders, partners, and shareholders.
Although it is possible that employees, contractors, and other stakeholders might buy
equity or be awarded equity in business it is not default. - ANSWERSIDK what to tell
you

Companies take risk of employees sharing trade secrets. Which two documents do
many companies have their employees sing to help reduce this risk. -
ANSWERSConfidentiality agreement and Non-disclosure agreement
(NDA)

A rancher is trying to sell his land and hears there's a development for a ski resort that
was approved on land adjacent to his property. What business opportunity does the
rancher see? - ANSWERSIncrease in land value. The ski resort next to the ranchers
land increases demand for housing and businesses to support the new resort. This
increases the value of the land.

What needs to happen before one can use someone else's patent? - ANSWERSMust
obtain ownership.

Characteristic of a business opportunity - ANSWERSSeller must help the buyer find an
ideal location for the business

Sarah works at an auto shop. She repairs and maintains cars, abides by guidelines and
company policies and has hourly wage. What is her role? - ANSWERSEmployee

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