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ESB Test 1 questions with correct answers
ESB Test 1 questions with correct answers
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ESB Test 1 questions with correct answersOphelia 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? -
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? - 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 ) - Answer making her own rules
satisfaction
Which two characteristics best describe entrepreneurs? - Answer creative
adaptable
Successful entrepreneurs typically possess which three characteristics? - 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? -
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? - Answer enroll in a beginning level business
accounting course at a local community college
Which are three risks of entrepreneurship? (Choose three) - Answer financial
insecurity
potential business failure
long hours
Which are traits of a successful entrepreneur? Choose three answers. - 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? - Answer low prices
Besides defining strengths and weaknesses, what is the other main factor
determined during a self-assessment? - Answer Risk tolerance
Which is considered to be a great immediate benefit of being a an entrepreneur? -
Answer more schedule control
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