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 th...
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?
Probable loss of current and future clients - Answer ✔️✔️-Whats is a consequence for a real estate
agent who violates confidentiality by discussing the client's personal income after work at a
party?
First
Second
Third
Last - Answer ✔️✔️-Identify the skills needed
Write the job profile
Post the advertisement
Review qualifications of applicants
Benefits administration - Answer ✔️✔️-The owner of a growing landscaping company with 30
employees has decided to outsource the payroll and payroll-related functions of the business.
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