A) Choosing with the advantage B) Choosing the best alternative C) Going with the first option D) Going with the easiest option
A) Market B) Strategy C) Operations D) Command
A) The Market B) The business C) Labor D) Management
A) Always consider pitfalls B) Prepare an objectively long plan C) Capture the customers interest D) Emphasize the target market
A) Distribution B) Cost control C) Advertising and promotion D) Pricing
A) New service B) New relationships C) Improved service D) New product
A) New relationships B) Improved service C) New service D) New means of production
A) Entrepreneurs requires specific know how in the ventures day to day operations. B) An Entrepreneurs need bosses to motivate them. C) Entrepreneurs des by creating and managing organizations to give long term benefits to the investors D) Entrepreneurs must take divided control and direct the venture towards a maximum position.
A) The management B) The market C) The business D) The industry
A) Countering the competition B) Beating the competition C) Assessing the competition D) Meeting the competition
A) Product mix B) Product line C) Product segmentation D) Product strategy
A) Strict adherence to standardized operations B) Territory limitations C) The time consumed by the management training and support the franchisor provides D) The cost of national advertising
A) The economic growth in the commercially developed market B) None of these C) The mutual benefits it provides to the franchisor and franchisee D) More job hunters choose to work for franchise firm rather that big corporations
A) Free from government B) Free from competition C) Free from independent business D) Free from standardization
A) Customer loyalty and preference B) Less advertising cost C) Low risk D) Controlled operations
A) Manufacturer-Wholesaler Franchise B) Retailer-Wholesaler Franchise C) Wholesaler-Retailer Franchise D) Manufacturer-Retailer Franchise
A) Lower operating cost B) Greater market penetration C) Wider brand recognition and promotion D) Guarantees faster expansion
A) Estimate the sales B) Determine the competitive products C) Identify your customer profile D) Assess the competition
A) Product analysis B) Strategic analysis C) SWOT analysis D) Market analysis
A) To determine customer mindset B) To determine customer preferences and minimize losses C) None of the above D) To discover customer comfort
A) Technological advances B) Integrated marketing mix C) Lower tariffs D) Free trade
A) They can provide specialist support to larger companies B) They can influence the market prices and trends C) They give an outlet for Entrepreneurs D) They can be innovators of new products and services
A) Both II and III B) Both I and II C) Both I and III D) Both I, II and III
A) Market segmentation is a useful process for small businesses to undertake. B) It is a good idea for small businesses to compete solely in price. C) Selling is essentially a matching process. D) A benefit is the value of a product feature to a customer.
A) Work long hours B) You are the boss C) Risk taker D) Uncertain income
A) Not survive and disappear from the market B) Get absorb within non-innovative businesse C) Get absorb within larger innovative businesses D) Thrive in the market
A) Government policies B) Weather conditions C) Consumer expenditures D) Profitability
A) Can help demonstrate the viability of the venture B) Provide a guide for business activities by defining objectives C) All of these D) It helps to persuade others to commit funding to the venture
A) Helps to prioritize tasks, focus energy, and maximize impact on target customers B) Serves as a strategic plan for success C) Help motivate employees to work toward shared goals D) Building a strong organizational culture
A) Job specifications B) Job requirements C) Job catalogue D) Job descriptions
A) Goal B) Strategy C) Objective D) Mission
A) The vision should specify detailed and short-term goals B) The vision should elaborate a purpose for the organization C) The vision should be built on a foundation of the organization's core values and beliefs D) The vision should include a brief summary of what the organization does
A) Planning reinforces success, which may lead to failure B) Planning can't be developed for a dynamic environment C) Planning focuses Entrepreneur's attention on tomorrow's survival but not today's competition D) Planning may create rigidity
A) Creating management options B) When synergy is present C) Understanding environment D) Encourage open discussion
A) Profits B) Turnover C) Sales D) Costs
A) None of these B) To determine customer preferences and minimize losses C) To discover customer comfort D) To determine customer mindset
A) Franchise buyer B) Franchising C) Franchise D) Franchising contract
A) Lower operating cost B) Greater market penetration C) Wider brand recognition and promotion D) Guarantees faster expansion
A) Less advertising cost B) Controlled operations C) Customer loyalty and preference D) Low risk
A) French Economic Age B) French Rebellion C) French Revolution D) French Mutiny
A) Bravery B) Destiny C) Bahala na attitude D) Risk taker
A) Inventor B) Salesman C) Businessman D) Investor
A) Adam Smith B) Joseph Schumpeter C) Jean Baptiste Say D) Tony Mayer
A) A Professional B) An Entrepreneur C) A Leader D) A Manager
A) Routine decisions B) Strategic decisions C) Organizational decisions D) Personal decisions
A) None of the above B) Goal orientation C) Business skill development D) Departure point
A) Marketing Plan B) Business Plan C) Financial Plan D) Strategic Plan
A) English B) French C) Chinese D) Latin
A) Career development B) Sales and profits C) Employee satisfaction D) Attract and retain more customers
A) Smooth Interpersonal Relationship or SIR B) Delicadeza C) Pakikisama D) Bayanihan |