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