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BUS 103 - Exam -1 With Correct Answers (2025)!!
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BUS 103 - Exam -1 With Correct Answers (2025)!!
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Q&AsBUS 103 - Exam #1 With Correct
Answers (2025)!!
** 5 actions you can take to avoid business failure - Answer -
knowing your business in depth,
-preparing a business plan,
-managing financial resources,
-understanding financial statements,
-learning to manage people effectively,
-set your business apart from the competition
-maintain positive attitudes.
** What are 5 benefits of franchising for the franchisee? -
Answer - Management training and support
- Brand name appeal (known brand)
https://www.stuvia.com/user/Schoolflix
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- Standardized quality of goods and services
- National advertising program
- Financial assistance
- Proven products and business formats
- Centralized buying power
- Increase chance for success
** What are 5 drawbacks of franchising for the franchisee? -
Answer - Franchising fees and ongoing royalties
- Strict rules for standardized operations
- Restrictions on purchasing
- Limited product line
- Market saturation
- Limited freedom
- No guarantee of success
** What are the advantages of a partnership? (8) - Answer -
Easy to establish
- Complementary skills
- Division of profits
- Larger pool of capital
- Ability to attract limited partners
- Little government regulation
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