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Develop an entrepreneurial skills by requiring to prepare a business plan using technology for new venture, existing business or new and innovative products.
It involves developing a game plan to guide a company as it strives to accomplish its mission, goals , and objectives, and to keep it on its desired course.
What Lenders and Investors Look for in a Business Plan?
Advantages of economic scale are not present and the capital requirements to enter are low.
Which of the following is not a disadvantage of sole proprietorship?
which of the following is/are the Elements of Marketing Strategy?
Company’s general business goals and the company’s immediate objectives.
Franchises will be a business “I” can run things the way “I” want to.
The barrier/s of creativity is/are the following:
Franchises will be “all the same”.
which of the following is/are the steps of Acquiring a Business?
It involves generating something from nothing.
which of the following is/are the Disadvantages of Buying a Business?
Why would a new business venture choose not to operate as a partnership?
An original, functional model of a new product that entrepreneurs can put into the hands of potential customers so they can see it, test it and use it.
A written summary of an entrepreneur’s proposed business venture, its operational and financial details, its marketing opportunities and strategy, and its managers’ skills and abilities.
Franchises will be taking care of my business problems.
Which of the following is/are the Benefits of Entrepreneurship?
Which of the following is/are the Deadly Mistakes of Entrepreneurship?
Most entrepreneurs turn to family members and friends for _________ .
Negative internal factors that inhibit a company’s ability to accomplish its mission, goals, and objectives.
Successful entrepreneurs learn to fail intelligently.
A clearly defined vision __________ .
Description of production process, strategic raw materials, sources, costs.
In Limited Partnerships, each partner is controlled by one or more general partners who have unlimited liability.
which of the following is/are the Advantages of Buying a Business?
Franchises will be able to have improvement potential.
There are some negative attributes of buying a franchise and those include?
which of the following is/are the Elements of a Feasibility Analysis?
Which of the following is not an advantage of sole proprietorship?
One who creates a new business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying opportunities and assembling the necessary resources to capitalize on them.
Positive external factors the company can exploit to accomplish its mission, goals, and objectives.
which of the following is/are the Elements of a Business Plan?
Existing or anticipated profitability of the industry.
Which of the following is/are the Cultural Diversity of Entrepreneurship?
Entrepreneurs are paralyzed by the prospect of failure.
One of the primary reasons for interest in a franchise system is that the franchisee is able to tap into the proven experience and guidance that the franchise offers.
Which of the following is/are the main forms of business organization?
Franchises will be safer and will not fail.
In Limited Partnerships, the dormant partners’ do not participate actively in the firm’s operations.
which of the following is/are aspects of a small company?
The combination of 2 or more firms to form a new company, which often takes a new corporate identity.
One characteristic of entrepreneurs that stands out is __________ .
Which of the following is/are the types of franchising systems?
The buyer’s ability to assume rights under seller’s existing contracts.
Negative external factors that inhibit the firm's ability to accomplish its mission, goals, and objectives.
Franchises will be economical.
Which of the following is/are the benefits of franchising?
The business organization in which a franchisor supplies the product concept to the franchisee, who sells the goods or services.
The step/s to consider in buying a franchise is/are _____ .
Left brain dominated people tend to be more logical and analytical in their thinking and usually excel at mathematics and word skills.
Examine the needs of both parties and all of the relevant external factors affecting the negotiation before you sit down to talk.
Formed by people with similar interests, such as customers and suppliers.
Overview of industry or market segment.
Which of the following is/are the Drawbacks of Entrepreneurship?
The process of determining whether an entrepreneur’s idea is a viable foundation for creating a successful business.
It is the result of an entrepreneur’s dream of something that does not exist yet and the ability to paint a compelling picture of that dream for everyone to see.
Failure is a natural part of the creative process.
Which of the following is/are an advantage/s of Limited Liability company?
In General Partnerships, each partner is individually liable for all debts and contracts of the partnership.
Positive internal factors a company can draw on to accomplish its mission, goals, and objectives.
It protects business buyer from the claims unpaid creditors might have against a company’s assets.
They sell a commodity product to the companies in it.
The switching costs to competitors is high and their numbers is large.
Choose a form of organization by evaluating _____ .
It is a road map of the actions an entrepreneur draws up to achieve a company’s mission, goals, and objectives.
Don’t be in such a hurry to close the deal that you end up giving up much of what you hoped to get.
Leaders of innovation has identified the following secrets for Leading Creativity:
The company’s target markets and the benefits its product or service will provide.
Two or more companies form an alliance to pursue a specific project, usually for a specific time period.
The creditors’ claims against an asset.
The qualification of the founders and/or key employees and the key financial highlights.
Quality _____ products are not readily available and the prices of which are not lower.
Remain calm during the negotiation.
The company’s business model and basis for competitive edge.
Which of the following is/are disadvantage/s of Limited Liability company?
Which of the following is/are the Characteristics of Entrepreneurs?
Proving that a profitable market exists by showing customer interest and documenting market claims.
The purchase of a corporation by another corporation or investment group.
In General Partnerships, each partner can co-own assets and share profits.
Why would a new business venture choose to operate as a partnership?
which of the following is/are the Elements of a Business Plan?
The practice of gathering, organizing, and disseminating the collective wisdom and experience of a company’s employees for the purpose of strengthening its competitive position.
Franchises will be a business anyone can do.
A legal entity with an existence and life separate from its owners, who therefore are not personally liable for its debts.
The contract in which a business seller agrees not to compete with the buyer within a specific time and geographic area.
According to study reports of Global Entrepreneurship Monitor (GEM), that men are twice as likely to start a business as women.
It is a written expression of how the company will reflect an entrepreneur’s values, beliefs, and vision – more than just “making money.”
People who rely more heavily on the right half of their brain tend to be more imaginative and intuitive.
Any activity which is undertaken with an intention to earn profit is called __________ .
The benefits of franchising have proven to have a positive impact on the success rate of franchises, beginning in the first year of operation, compared to nonfranchise ventures.
It is the ability to create new and useful ideas that solve problems and challenges people face everyday.
It refers to something new or to a change made to an existing product, idea, or field.
Entrepreneurs tend to exhibit __________ .
According to study reports of Global Entrepreneurship Monitor (GEM), entrepreneurs are most likely to launch businesses when they are between the ages of 35 and 44.
Number of competitors is large or few (less than 5).
which of the following is/are Strategic Management Process?
In Limited Partnerships, the dormant partners’ liability is limited to their investment.
Franchises will be the cheapest business option.
Franchises will be more successful based on its size.
The aggregation of factors that sets a company apart from its competitors and gives it a unique position in the market that is superior to its competition.
Entrepreneur can stimulate their own creativity and encourage it among workers by:
Franchises will enable the owner to be removed from day–to–day management.
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