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Exam 5: Small Business,Entrepreneurship,and Franchises

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Question 91

Multiple Choice

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"This business will create a caring,learning environment for elementary school children after regular school hours to meet the needs of working parents." This statement answers which of the following issues that should be addressed in a business plan?

A) How much will the new business cost?
B) Why is this new business a good idea?
C) What are Deborah's goals for the business?
D) What is the nature and mission of the business?
E) How often will the business advertise?

F) B) and C)
G) A) and E)

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Question 92

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A small-business investment company (SBIC)is a government agency that provides venture capital to small enterprises.

A) True
B) False

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Question 93

Multiple Choice

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Some of the entrepreneurs' personal factors in small-business success include

Some franchisors claim that contracts are unfairly tilted toward the franchisees.

All of the following are advantages that small businesses have except

What organization issues management,marketing,and technical publications of interest to present and prospective small-business managers that can be obtained from the U.S.Government Printing Office?

Many small firms seek to establish a particular niche in the market,realizing that they cannot afford to operate on a larger scale without exposing themselves to considerable risk of retaliation from larger companies.When a number of small businesses are operating in this manner,they are forcing the larger businesses to recognize and account for their influence on the market.In this way,small businesses are primarily

Luis Fisher,a recently retired corporate executive,is becoming restless in his new role and would like to make this transition smoother by participating in the business community in some limited manner.Since Luis is financially secure and primarily interested in some sort of volunteer work,he should consider becoming involved with which of the following SBA programs?

Cindy owns a 7-Eleven franchise.What is the primary disadvantage of owning a franchise for Cindy?

The SBA's website resource targeted at assisting women-owned business is known as the SBA's Online Women's Resource and Growth Center.

Your friend,Linda,started a graphic design firm about a year ago.The business has done well,but it needs a lot more equipment,computers,and employees to continue expanding.Linda does not see any problem because she thinks she can easily get all the money she will need from her local bank.What advice might you give her?

Which form of franchising is the most common today?

By age 26,Marco was a plant manager in the snack-foods division.By 33,he headed the division,one of the most profitable in the corporation.Eventually,however,the company decided to move its corporate offices.Although he loved the job and thought the work was great,Marco's lifestyle was awful.He was on the road so often that he was giving up much of his family life.Marco had also become disenchanted with corporate life.He saw that the closer one got to the top,the more vulnerable one's position became.Thus,Marco left the corporation to start his own snack-foods company.His thoughts and actions most clearly reveal his

For those who like dealing with people,small business is the place to be.

Martin owns his own motorcycle and ATV store.He notices that many of his customers talk about golf while in his store.He quickly adds golf carts and golf clubs to his merchandise selection.Rapidly adjusting to the needs of his customers is possible because small businesses

Money invested in small firms with the potential to become very successful is known as venture capital.

Franchising experienced tremendous growth during the early 1930s.

Economically,the U.S.government is not concerned with whether or not small businesses make it.

Which of the following is not a reason for starting a small business?

Which of the following is not considered a category in the distribution industries?