ESB Test 1 questions with complete solution 2023
Ophelia runs a local seamstress business. Ophelia is losing customers to a competing business. Upon sending an employee over to check out the competition, Ophelia discovers the competitor's turnaround time is double her turnaround time. What should ...
Ophelia runs a local seamstress business. Ophelia is losing customers to a competing business. Upon
sending an employee over to check out the competition, Ophelia discovers the competitor's turnaround
time is double her turnaround time. What should Ophelia's new marketing strategy be to woo back her
customers? - correct answer service
Gabe has worked as a journeyman electrician for an employer for the past 16 years. He is paid a good
salary. His only dissatisfaction is the hours are long and often when he requests time off he is denied
because of customer workload. Recently, two new electricians were hired that do sloppy work and don't
get along well with Gabe. As a resultGabe decides go into business for himself. Which benefit of
entrepreneurship will Gabe most enjoy? - correct answer autonomy
A photographer enjoys traveling and having freedom over her own schedule. She would like to turn her
photography hobby into a business. Which are the two greatest benefits she might experience by turning
her hobby into a successful business ? (Choose two ) - correct answer making her own rules
satisfaction
Which two characteristics best describe entrepreneurs? - correct answer creative
adaptable
Successful entrepreneurs typically possess which three characteristics? - correct answer tenacious
adaptable
responsible
Rey has worked as a transportation coordinator for the past 10 years. Rey often is dissatisfied with the
stagnation of the job and wants to open her own transportation service. Which benefit of
entrepreneurship will be the biggest one for Rey? - correct answer autonomy
, After a self-assessment, a potential entrepreneur has learned that he knows nothing about accounting
and keeping records for a business. Based upon this finding, what should this entrepreneur do? - correct
answer enroll in a beginning level business accounting course at a local community college
Which are three risks of entrepreneurship? (Choose three) - correct answer financial insecurity
potential business failure
long hours
Which are traits of a successful entrepreneur? Choose three answers. - correct answer enthusiastic
patient
confident
Fran works for a flooring company in a neighboring town. Many of Fran's customers complain about a
lack of available flooring companies in the area and that of those companies, the prices are too high.
Should Fran decide to open a flooring business, what can be a good marketing strategy? - correct
answer low prices
Besides defining strengths and weaknesses, what is the other main factor determined during a self-
assessment? - correct answer Risk tolerance
Which is considered to be a great immediate benefit of being a an entrepreneur? - correct answer more
schedule control
George wants to take his passion for golf and open a golf academy. What would be benefits George
could enjoy from this experience? Choose two answers. - correct answer financial gains
satisfaction of pursing his passion
Which three things are defined when doing a self-assessment? - correct answer weaknesses
strengths
risk tolerance
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