A) Choosing with the advantage B) Going with the first option C) Going with the easiest option D) Choosing the best alternative
A) Market B) Operations C) Command D) Strategy
A) The Business B) Management C) The market D) Labor
A) Emphasize the target market B) Capture the customers interest C) Prepare an objectively long plan D) Always consider pitfalls
A) Cost control B) Advertising and promotion C) Pricing D) Distribution
A) New service B) New product C) New relationship D) Improved service
A) Improved service B) New service C) New relationship D) New means of production
A) Entrepreneurs des by creating and managing organizations to give long term benefits to the investors. B) An Entrepreneurs need bosses to motivate them. C) Entrepreneurs requires specific know how in the ventures day to day operations. D) Entrepreneurs must take divided control and direct the venture towards a maximum position.
A) The Business B) The Management C) The Industry D) The Market
A) Meeting the competition B) Beating the competition C) Assessing the competition D) Countering the competition
A) Product mix B) Product strategy C) Product line D) Product segmentation
A) The time consumed by the management training and support the franchisor provides B) Territory limitations C) The cost of national advertising D) Strict adherence to standardized operations
A) The mutual benefits it provides to the franchisor and franchisee B) The economic growth in the commercially developed market C) More job hunters choose to work for franchise firm rather that big corporations D) None of these
A) Free from standardization B) Free from independent business C) Free from competition D) Free from government
A) Less advertising cost B) Customer loyalty and preference C) Low risk D) Controlled operations
A) Manufacturer-Retailer Franchise B) Retailer-Wholesaler Franchise C) Manufacturer-Wholesaler Franchise D) Wholesaler-Retailer Franchise
A) Lower operating cost B) Guarantees faster expansion C) Wider brand recognition and promotion D) Greater market penetration
A) Market analysis B) Product analysis C) Strategic analysis D) SWOT analysis
A) To determine customer mindset B) To discover customer comfort C) None of the above D) To determine customer preferences and minimize losses
A) Free trade B) Integrated marketing mix C) Lower tariffs D) Technological advances
A) They can influence the market prices and trends B) They give an outlet for Entrepreneurs C) They can be innovators of new products and services D) They can provide specialist support to larger companies
A) Both I, II and III B) Both I and II C) Both I and III D) Both II and III
A) A benefit is the value of a product feature to a customer. B) It is a good idea for small businesses to compete solely in price. C) Selling is essentially a matching process. D) Market segmentation is a useful process for small businesses to undertake.
A) You are the boss B) Work long hours C) Uncertain income D) Risk taker
A) Get absorb within non-innovative businesses B) Not survive and disappear from the market C) Thrive in the market D) Get absorb within larger innovative businesses
A) Weather conditions B) Consumer expenditures C) Government policies D) Profitability
A) It helps to persuade others to commit funding to the venture B) All of the above C) Provide a guide for business activities by defining objectives D) Can help demonstrate the viability of the venture
A) Help motivate employees to work toward shared goals B) Serves as a strategic plan for success C) Helps to prioritize tasks, focus energy, and maximize impact on target customers D) Building a strong organizational culture
A) Job requirements B) Job descriptions C) Job catalogue D) Job specifications
A) Strategy B) Goal C) Mission D) Objective |