Subject: Business / General Business
Week 1 discussion
DQ1EntrepreneursPlease respond to the following:Inc. magazine claims, “Entrepreneurship is more mundane than it is sometimes portrayed . . . you don’t need to be a person of mythical proportions to be very, very successful in building a company.” Discuss whether you agree or disagree with this statement and why.Analyze the characteristics of a successful entrepreneur and determine if you have what it takes to start your own business. Provide specific examples to support your response.DQ2Strategic ManagementPlease respond to the following:Analyze the steps involved in developing a strategic plan for a company and determine which step is the most difficult to get right. Explain your rationale.From the e-Activity, determine how you would leverage the support provided by the U.S. Small Business Administration in planning and starting your own business. Provide specific examples to support your response.Week 2 discussionDQ1Choosing a Form of OwnershipPlease respond to the following:From the e-Activity, describe the most appropriate form of ownership for your new franchise based on your current financial situation. Provide specific examples to support your response.Assume the form of your new business will be a partnership (if you have not already done so). Discuss the types of conflicts that may arise and how you could prevent them from arising in the first place.DQ2Franchising and the EntrepreneurPlease respond to the following:Based on the case study (“Firehouse Subs”), determine which of the three options executives are considering would be most beneficial to a single franchise owner. Explain your rationale.From the e-Activity, discuss the advantages and disadvantages of being a franchisee of the franchise you selected. Provide specific examples to support your responseWeek 3 discussionDQ1Buying an Existing BusinessPlease respond to the following:From the e-Activity, discuss the best possible method for determining the value of the business you selected. Explain your rationale.Create a strategy for negotiating the purchase of the business you selected in the e-Activity.DQ2Feasibility Analyses and Business PlansPlease respond to the following:Develop an idea for a new business and conduct a feasibility analysis. Please be as creative as you like in the development of your idea (but as careful as you can be in your analysis of that idea).Analyze the steps involved in crafting a wining business plan and make at least one recommendation for improving the process. Explain your rationale for making the recommendation you did.Week 4 discussionDQ1Creating a Solid Financial PlanPlease respond to the following:Discuss the best way to leverage a breakeven analysis when defining a business strategy.Analyze the 12 financial ratios mentioned in the textbook and determine which is the most useful to the greatest number of small businesses. Explain your rationaleDQ2Managing Cash FlowPlease respond to the following:Analyze the steps involved in preparing a cash budget and determine which steps presents the greatest number of obstacles to the greatest number of small businesses. Explain your rationale.Analyze the steps involved in avoiding a cash crunch and make at least one additional recommendation for doing so. Provide specific examples to support your response.Week 5 discussionDQ1Guerrilla MarketingPlease respond to the following:From the first e-Activity, discuss the key elements that made the guerrilla marketing so successful. Explain your rationale.Discuss possible best practices from the guerrilla marketing campaign that different types of small businesses could leverage. Provide specific examples to support your response.DQ2Advertising and PromotionPlease respond to the following:From the second e-Activity, determine the best possible way to leverage Facebook, Twitter, and other social networking sites to advertize and promote the small business of your choice. Explain your rationale.Select a small business with which you are familiar and then determine the best way for that business to stretch its advertising budget. Provide specific examples to support your response.Week 6 discussionDQ1Pricing and Globalization StrategiesPlease respond to the following:From the e-Activity, discuss the best possible pricing strategy based on whether the company you selected is a retailer, manufacturer, or service firm. Explain your rationale.Discuss the best possible way the company you selected could expand its market globally.DQ2Globalization and Sources of Equity FinancingPlease respond to the following:From the e-Activity, discuss how the company you selected might benefit from selling new customers on e-Bay (as opposed to building and maintaining its own Website).Referring to the same company, determine the best source of equity capital available to the company you selected. Explain your rationale.Week 7 discussionDQ1Sources of Debt FinancingPlease respond to the following:Briefly describe a small business you could envision yourself owning and discuss the most appropriate source of debt capital for that business. Explain your rationale.From the e-Activity, discuss how you could best use an SBA loan to get your business running or expanding. Provide specific examples to support your response.DQ2Location, Layout, and Physical FacilitiesPlease respond to the following:Using the same small business you described in the first discussion, determine the best possible location for your business within driving distance of where you now live. Explain your rationale.Discuss the layout and design configuration of a building you would like to use to house your business, including how you would comply with the Americans with Disabilities Act.Week 8 discussionDQ1Supply Chain ManagementPlease respond to the following:From the e-Activity, determine which best practices can be applied to the greatest number of small businesses. Explain your rationale.Analyze the principles of Total Quality Management (TQM) and Six Sigma in regard to quality control of a product or service, and make at least one recommendation for improvement. Explain your rationale.DQ2Managing InventoryDescribe a retail business with which you are familiar and determine the most suitable means of inventory control. Provide specific examples to support your response.For the same business, discuss what innovative steps you could take to deter employee theft and/or shoplifting.Week 9 discussionDQ1Fikes ProductsPlease respond to the following:From the case study, discuss possible new options for finding quality employees other than those considered in the case study.From the case study, discuss how Mark Sims could better motivate the employees he already has to become more productive and dedicated. Provide specific examples to support your response.DQ2Management Succession and Risk Management StrategiesPlease respond to the following:Assume you are the owner of a small business with which you are familiar. Outline the basics of a management succession plan for passing the business on to the individual of your choice.Referring to the same small business, determine the most appropriate way for that business to minimize its exposure to risk. Explain your rationale.Week 10 discussionDQ1Ethics and Social ResponsibilityPlease respond to the following:Select a small business with which you are familiar and develop a plan of action for encouraging ethical behavior. Provide specific examples to support your response.Analyze a business’s responsibilities to the environment, employees, customers, investors, and the community, and determine which is the most important. Explain your rationale.DQ2The Legal EnvironmentPlease respond to the following:Select a small business with which you are familiar and discuss the most likely forms of business law it would need to be concerned about. Provide specific examples to support your response.Referring to the same company, discuss the most likely government regulations that would directly impact day-to-day operations. Provide specific examples to support your response.Week 11 discussionDQ1SummationPlease respond to the following:Reflecting back on everything you have learned in this course, discuss the single most important lesson any entrepreneur should apply in order to be successful. Explain your rationale.Summarize the lessons learned in this course in 140 characters or less (something you could post on Twitter).DQ2My Dream BusinessPlease respond to the following:Discuss the most innovative idea you can dream up for a new business. Explain why you think it would be successful.Discuss the major challenges you would face in running such a business and how you would expect to overcome them. Provide specific examples to support your response.Week 4 Assignment 1Assignment 1: To Build or BuyDue Week 4 and worth 240 pointsSelect a small business that you visit often (e.g., coffee shop, bookstore, sporting goods store, etc.). Write a 6-8 page paper in which you:Craft a brief (1-2 pages) strategy for a business concept that would directly compete with the small business you selected. Explain the rationale for the strategy in detail.Determine if it would make more sense to open the new business you describe or to purchase the existing business you selected. Explain your reasoning.Discuss the most appropriate form of ownership for your new business (assuming your current financial situation).Outline a business plan for your business. Visit http://www.sba.gov for tools and templates.Include at least two (2) references outside the textbook.Your assignment must follow these formatting requirements:Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.The specific course learning outcomes associated with this assignment are:Analyze the nature of entrepreneurship, business ethics, and social responsibility in managing a successful small business.Analyze a business strategy and supporting business plan for a small business conceptDescribe and analyze the necessary activities and key decisions to start a small business.Use technology and information resources to research issues in small business management.Write clearly and concisely about small business management using proper writing mechanics.Week 8 assignment 2Assignment 2: Expanding Your BusinessDue Week 8 and worth 240 pointsReferring to the same business you either started or purchased in the first assignment, write a 6-8 page paper in which you:Outline a financial plan for your small business.Develop a guerrilla marketing strategy for your small business.Discuss the most appropriate location for a second store (an actual street address). Explain your reasoning.Outline a plan for securing sources of debt financing for your second store.Include at least two (2) references outside the textbook.Your assignment must follow these formatting requirements:Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow APA or school-specific format. Check with your professor for any additional instructions.Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required page length.The specific course learning outcomes associated with this assignment are:Describe and analyze the necessary activities and key decisions to start a small business.Analyze the key financial management considerations in operating a small business.Develop a guerrilla marketing strategy for a small business.Analyze the role of pricing, credit, and equity financing in defining a business strategy.Use technology and information resources to research issues in small business management.Write clearly and concisely about small business management using proper writing mechanics.Quiz 1Question 1 Dirk wants to be in control. He’s tired of taking orders from others and wants to feel a sense of accountability for the outcome of his work. Dirk displays the entrepreneurial characteristic of:Question 2 Companies started by women differ from companies started by men in that:Question 3 Juan is able to work well in a constantly changing atmosphere and has little concern for what tomorrow will bring. Juan demonstrates which of the following characteristics of a typical entrepreneur?Question 4 A key characteristic of a successful entrepreneur is:Question 5 Primary cause of business failure is:Question 6 Launching and running a business can be an extremely rewarding experience, but it also can:Question 7 “Copreneurs” are marked by:Question 8 One key to success with a business startup is to begin with enough ________:Question 9 Entrepreneurs start businesses for a number of reasons including:Question 10 Surveys show that owners of small businesses believe that:Question 11 Kyoto has started an interior decoration business. Everything about the business, from its name to the color schemes used in the corporate letterhead, is an expression of her personality. She sees this business as her greatest personal achievement. Kyoto is experiencing the opportunity ________ of small business ownership.Question 12 Successful copreneurs are marked by which of the following characteristics?Question 13 Part-time entrepreneurship has an additional advantage over starting up a company full-time in that:Question 14 Which of the following trends is feeding the growth of entrepreneurial activity?Question 15 U.S. economic structure is moving:Question 16 ________ focuses everyone’s attention and efforts on the same target market. It is an expression of what the owner believes in.Question 17 The most successful strategic plans make the ________ focal.Question 18 ________ are the broad, long-range attributes the small business seeks to accomplish; ________ are the specific, measurable milestones the company wants to achieve.Question 19 When the small business owner assesses her company’s strengths and weaknesses, she is dealing with the ________ business environment.Question 20 ________ are positive internal factors that contribute towards accomplishing the company’s objectives.Question 21 ________ are relationships between a controllable variable–plant size, quality, packaging–and a critical factor influencing the firm’s ability to compete in the marketplace.Question 22 Once the vision and mission are established, the entrepreneur needs to:Question 23 These are products of the interaction of various forces, trends, and events that are outside the control of the small business.Question 24 Answering the question “What business am I in?” defines the company’s:Question 25 The final step of the strategic planning process is:Question 26 A mission statement should answer which of the following questions?Question 27 Which of the following best expresses the relationship of a company vision to its mission?Question 28 A small business’s “aggregation of factors that sets it apart from its competitors” is its:Question 29 ________ are negative internal factors that inhibit the accomplishment of a firm’s objectives.Question 30 Purchasing rival companies’ products, taking them apart, and analyzing them is:Quiz 2
Question 1 The ________ is the most complex form of ownership and is a separate legal entity in the eyes of the law.Question 2 The most critical disadvantage of the sole proprietorship is:Question 3 A significant disadvantage of a partnership is:Question 4 A limited liability company is formed under:Question 5 Probably the most important feature of a partnership agreement is:Question 6 A corporation receives its authority to operate from:Question 7 One major advantage of the ________ is that once the owner has paid all of the company’s expenses, he/she can keep the remaining profits (less taxes, of course).Question 8 A partnership is:Question 9 All partnerships must have:Question 10 Which of the following is a disadvantage of the corporation form of ownership?Question 11 Shares the corporation itself owns are called:Question 12 If a partnership is formed without an agreement, the partnership is automatically subject to the:Question 13 ________ corporations have shares that are controlled by a relatively small number of people – family members, relatives, or friends.Question 14 The most common form of business ownership is the:Question 15 A corporation doing business in the state in which it is incorporated is considered to be a(n) ________ corporation.Question 16 When buying a franchise, the potential franchisee should first:Question 17 The primary advantage of buying a franchise over starting your own company is:Question 18 Franchise advertising programs:Question 19 ________ franchising involves the owner of an existing business becoming a franchisee to gain the advantage of name recognition.Question 20 When the franchisee has the right to establish a semi-independent organization in a particular territory to recruit, sell, and support other franchises, it is called a ________ franchise.Question 21 There are two main risks in purchasing a franchise. First, that of the franchiser’s experience and business system, and second:Question 22 The most expensive franchises in terms of total investment are:Question 23 Most franchise experts consider the most important factor in the success of a franchise to be:Question 24 The ________ requires all franchisers to disclose detailed information on their operations at the first personal meeting or at least fourteen days before a franchise contract is signed or any money is paid.Question 25 The most litigated subject of the franchisee agreement is:Question 26 ________ franchising involves providing the franchisee with a complete business system–the established name, the building layout and design, accounting systems, etc.Question 27 In view of the cause of most new business failures, probably the most valuable service provided franchisees by the franchiser is:Question 28 In franchising, ________ pay fees and royalties to a ________ in return for the right to sell its products or services under the franchiser’s trade name and often to use its business format and system.Question 29 Another term for cobranding franchising is:Question 30 When it comes to purchasing products, equipment, etc., the franchiser:Quiz 3Question 1 The capitalized earnings approach determines the value of a business by capitalizing its expected profits using:Question 2 Before buying an existing business, the buyer should analyze two external elements of the business:Question 3 Which of the following is a criterion for a bulk transfer?Question 4 The valuation method that is commonly used, but tends to oversimplify the valuation process, is called:Question 5 When negotiating the deal, the most important thing to remember is:Question 6 ESOP is the acronym for:Question 7 One advantage of buying an existing business is:Question 8 The inventory in an existing business:Question 9 An agreement between a business seller and the buyer, in which the seller agrees not to open a competing business within a specific time period and geographic area, is called a:Question 10 Perhaps the ideal source of financing the purchase of an existing business is:Question 11 The biggest source for the best companies to buy is:Question 12 When it comes to buying an existing business, it is not uncommon to find it:Question 13 The valuation approach that considers the value of goodwill is the:Question 14 Which of the following is an intangible asset?Question 15 When a buyer is reviewing a candidate company’s lease arrangements, location and appearance, intangible assets, etc., he is answering what basic acquisition question?Question 16 The ________ highlights significant financial and operational events in the company’s life and should concentrate on the company’s accomplishments.Question 17 The ________ expresses the entrepreneur’s vision for the company and what he/she hopes it will become.Question 18 The ________ acquaints lenders and investors with the nature of the business and the general goals and objectives of the company.Question 19 The organization chart is described in which section of the business plan?Question 20 ________ are short-term, specific targets which are attainable, measurable, and controllable.Question 21 Potential investors tend to believe that if an entrepreneur can’t develop a good plan:Question 22 When creating financial forecasts in a business plan for a proposed venture, an entrepreneur should:Question 23 Business plans need to pass three tests:Question 24 The second essential purpose for creating a business plan is:Question 25 The C of the five Cs that is a synonym for “cash flow” is:Question 26 The ________ is the first part of the business plan. It summarizes all the relevant points of the deal, but it should be the last part written.Question 27 Any assets pledged to the bank as security for repayment of the loan are the ________ of the five Cs.Question 28 Proving that a profitable market exists involves:Question 29 The focus of the competitor analysis section of the business plan is to:Question 30 An explanation of how the product will be distributed is contained within the:Quiz 4Question 1 ________ tell whether or not the small business will be able to meet its maturing obligations as they come due.Question 2 The ________ ratio is a conservative measure of a firm’s liquidity and shows the extent to which a firm’s most liquid assets cover its current liabilities.Question 3 The break-even point occurs where:Question 4 The most meaningful basis for comparing operating ratios is:Question 5 ________ is/are the value of the owner’s investment in the business.Question 6 The ________ shows what assets the business owns and what claims creditors and owners have against those assets.Question 7 As a general rule, financial analysts suggest that a small business maintain a(n) ________ ratio of at least 2:1.Question 8 When a company is forced into liquidation, owners are most likely to incur a loss when selling:Question 9 The ________ is built on the basic accounting equation: Assets = Liabilities + Owner’s Equity.Question 10 A technique that allows the small business owner to perform financial analysis by understanding the relationship between two accounting elements is called:Question 11 The ________ ratio measures the small company’s ability to generate sales in relation to its assets.Question 12 ________ ratios measure the financing supplied by business owners and that supplied by the firm’s creditors.Question 13 ________ are those things that a business owns which have value.Question 14 What is the difference between price per unit and variable cost per unit?Question 15 The ________ ratio is a measure of the small company’s ability to pay current debts from current assets.Question 16 ________ companies are most likely to suffer cash shortages.Question 17 When forecasting cash disbursements in the cash budget:Question 18 Once the owner determines an adequate minimum cash balance, what is the next step in creating a cash budget?Question 19 ________ is simply the money owed the firm by customers because they’ve purchased goods or services on credit.Question 20 ________ typically lead(s) sales; ________ typically lag(s) sales.Question 21 A bank account that technically never has funds in it but is tied to another master account so that when checks are presented for payment the master account is debited, permitting the company to use its own money during the “float” period, is called a(n):Question 22 The first step to building a workable credit policy is:Question 23 ________ is the money that moves through the business in a continuous cycle.Question 24 The budgeting strategy that evaluates the necessity of every item on the budget each year by starting with a zero in each budget category is called:Question 25 A cash budget is only as accurate as the ________ forecast from which it is derived.Question 26 Efficient cash managers:Question 27 An arrangement in which customers mail their payments on account to a post office box which the company’s bank monitors, from which it collects the payments, and then immediately deposits the payments into the firm’s interest-bearing account is called a:Question 28 Which of the following is an effective way to trim overhead?Question 29The “big three” of cash management include:Question 30 Generally speaking, most small business owners tend to:Quiz 5Question 1 Companies connect with their customers ________ by supporting causes that are important to their customer base, taking exceptional care of their customers, and making it fun and enjoyable to do business with them.Question 2 Studies show that customers want ________ from businesses almost more than anything else.Question 3 One “natural” advantage small businesses have over large business, which can be a significant competitive advantage, is:Question 4 Most marketing experts contend that the greatest marketing mistake small businesses make is:Question 5 When it comes to gathering market research on customers, most small companies tend to be:Question 6 Small businesses can compete with larger rivals with bigger budgets by employing unconventional, low-cost creative techniques known as:Question 7 To build an effective customer service program, it is important to:Question 8 One-to-one marketing is a marketing strategy that:Question 9 ________ puts the customer at the center of a company’s thinking, planning, and action and shifts the focus from a product or service to customers and their needs and wantsQuestion 10 The worst marketing catastrophe to befall any business would be to:Question 11 Time compression management (TCM) involves:Question 12 The majority of customers who stop patronizing a particular store do so because:Question 13 ________ is the process of creating and delivering desired goods and services to customers, and involves all of the activities associated with winning and retaining loyal customers.Question 14 The most common channel of distribution for consumer goods is:Question 15 Market research:Question 16 In reality, advertising:Question 17 Which of the following media account for the greatest portion of advertising expenditures?Question 18 The ________ cost of an advertising medium compares the actual dollar cost of an ad with the number of potential customers it reaches.Question 19 ________ is the personal contact between salespeople and potential customers that comes from sales efforts.Question 20 The best color combination for an outdoor ad is:Question 21 The choice of advertising medium is primarily determined by:Question 22 A recent study of top salespeople found that they:Question 23 Which advertising medium offers the greatest ability to selectively target a specific audience?Question 24 A successful direct mail ad is characterized by:Question 25 Under ________, a manufacturer splits the cost of advertising with a small retailer if the retailer features its product.Question 26 ________ is unsolicited commercial e-mail.Question 27________ are an important advertising medium for reaching customers who have already made the purchase decision and are looking for the product or service.Question 28 The most meaningful unique selling proposition:Question 29 Effective ads are built on:Question 30 Radio:Quiz 6Question 1 ________ tells what portion of the total revenues remains after covering variable costs to contribute toward meeting fixed expenses and earning a profit.Question 2 A firm sells small-ticket items to their regular customers on customer charge accounts and then bills the customers each month. This type of credit arrangement is called:Question 3 A variation of geographic pricing in which the small company sells its merchandise to customers on the condition that they pay all the shipping is called:Question 4 ________ is a pricing strategy under which local customers “subsidize” the shipping charges the firm incurs when transporting merchandise to distant customers.Question 5 ________ pricing strategy introduces a new product at a low price to gain quick acceptance and extensive distribution in a mass market.Question 6 In ________ pricing, a type of geographical pricing, a small firm charges customers located in different territories different prices for the same products.Question 7 A common “me-too” pricing policy by which the small business owner establishes his/her prices by monitoring competitor’s prices and then matching them is called:Question 8 When pricing products, it is important to remember that:Question 9 ________ is a technique which greatly simplifies the pricing function by setting the same price for items with similar characteristics.Question 10 Absorption costing:Question 11 When a small business is faced with price competition from a much larger competitor, it should consider:Question 12 When a small business owner doesn’t want to make a pricing decision, he/she can use a(n) ________ pricing strategy.Question 13 Which of the following factors is vital to determining the effects of competition on the small firm’s pricing policies?Question 14 ________ costing includes only those costs that vary directly with the volume of an item produced.Question 15 The most commonly used pricing technique for manufacturers is:Question 16 Of the three domestic barriers exporters face, ________ is the biggest.Question 17________ participating companies get antitrust immunity, allowing them to cooperate freely.Question 18 A relatively easy way of getting into international marketing, which currently handles about 10% of all U.S. exports, is through ________ who act as distributors in foreign countries for domestic companies of all sizes.Question 19 The type of companies that are an important channel of foreign distribution for small companies just getting started in international trade or for those lacking the resources to assign their own people to foreign markets are referred to as:Question 20 A(n) ________ is a government- or privately-owned company established in a foreign country for the purpose of buying goods made there.Question 21 An embargo is:Question 22 The reality of “going global” is that the entrepreneur must understand the needs of the:Question 23 Expanding a small business into international markets:Question 24 A ________ is a document the seller draws on the buyer, requiring the buyer to pay the face amount (the purchase price of the goods) either on sight (a sight draft) or on a specified date (a time draft) once the goods are shipped.Question 25 A(n) ________ is a business that buys and sells products in a number of countries, offering a range of services–importing, exporting, shipping, distributing, and others–to their clients.Question 26 A type of non-tariff barrier to trade that consists of selling large quantities of products in foreign countries below cost is referred to as:Question 27 Currency: inflation rate, availability, controls, stability of exchange rate; Balance of payments; Per capita income and distribution; Disposable income and expenditure patterns are components of:Question 28 The first step to becoming a truly global company is to:Question 29 Small businesses go global:Question 30 The U.S. Commerce Department, the SBA, and the Trade Administration provide a number of services. TOP–the trade opportunity program–is one and through it entrepreneurs can:Quiz 7Question 1 Private “angel” investors tend to:Question 2 When taking a company public, investment bankers look for:Question 3 ________ is any form of wealth used to produce more wealth.Question 4 The formal underwriting agreement is signed:Question 5 In a public offering, the underwriter:Question 6 ________ financing includes the personal investment of the owners and is often called “risk capital.”Question 7 Under a ________ agreement, the underwriter agrees to purchase all of the shares in a company’s public offering and then resells them to investors.Question 8 The largest cost in a public stock offering is:Question 9 A(n) ________ is a private, for-profit organization that purchases equity positions in young businesses that will potentially produce returns of 300 to 500 percent over five to seven years.Question 10 Which of the following is the most popular rule of Regulation D exemptions?Question 11 Most companies that make Rule 5 offerings raise between $1 million and:Question 12 When structuring a deal with an “angel,” an entrepreneur should remember that:Question 13 It typically takes ________ to take a company public.Question 14 Regulation A is best suited when a company is at the ________ stage.Question 15 hen looking for an angel, the key is:Quiz 8Question 1 A federally-sponsored program which offers loan guarantees to create and expand businesses in areas with below-average income and high unemployment is called:Question 2 A loan from a stockbroker, based on the stocks and bonds in the customer’s portfolio:Question 3 Grants to small businesses, made to strengthen the local economy in cities and towns that are considered economically distressed, are made by:Question 4 In asset-based borrowing, the ________ is the percentage of an asset’s value that a lender will lend.Question 5 The most common method used by commercial finance companies to provide credit to small businesses is:Question 6 Asset-based borrowing permits small businesses:Question 7 The most common method of SBIC financing is the:Question 8 The majority of loans provided by the SBA are:Question 9 A ________ makes only intermediate and long-term SBA guaranteed loans. It specializes in loans many banks would not consider.Question 10 A(n) ________ is a hybrid between a conventional loan and a bond; at its heart it is a bond, but its terms are tailored to the borrower’s individual needs, as a loan would be.Question 11 ________ is designed to provide working capital to small exporters by providing loan guarantees of 90 percent of the loan amount up to $1.5 million.Question 12 A ________ is an agreement with a bank that allows a small business to borrow up to a predetermined specified amount during the year without making an application each time.Question 13 A popular form of debt financing with large companies, a sort of corporate “IOU,” which is becoming more accessible to a growing number of small companies is:Question 14 Insurance companies typically make two types of loans:Question 15 When a small business is refused a loan because it is not profitable and deemed a poor credit risk, the owner can usually turn to ________ as a source of short-term funds.Question 16 ________ is a system that divides a county or a city into small cells or districts to control the use of land, buildings, and sites.Question 17 Designing layouts ergonomically and seeking to automate product flows can result in:Question 18 ________ is a publication that provides important data to aid entrepreneurs in their search for the best location.Question 19 The science of adapting work and working conditions to complement employees and to suit customers is called:Question 20 As the service economy has grown, a business location being used more and more by service businesses is:Question 21 A major factor that could increase the wage rate in an area would be:Question 22 Incubator facilities are established in order to:Question 23 The ________ serves a large trading area (10 to 15 miles or more), contains from 50 to 100 stores, and has several major department stores as its anchors.Question 24 The ________ of products and materials, their ________ of transportation, and their ________ functions all interact in determining how close a business needs to be to its sources of supply.Question 25 Approximately ________ of a store’s customers will go more than halfway into the store.Question 26 The area from which a small business expects to draw customers over a reasonable time span is its:Question 27 The starting point for designing a layout is:Question 28 Which of the following sets of city factors does an entrepreneur need to consider when choosing a location for his/her new business?Question 29 Manufacturing layout decisions take into consideration:Question 30 The Americans with Disabilities Act of 1990 requires that:Quiz 9Question 1 Deming’s 14 Points include:Question 2 In order to constantly improve the system of production and service, managers must focus the entire company on:Question 3 ________ discounts give customers an incentive to pay for merchandise promptly.Question 4 Many small businesses build a(n) ________, or cushion, into their inventories in case demand runs ahead of the anticipated usage rate.Question 5 The implementation of TQM can not succeed unless:Question 6 Total Quality Management (TQM):Question 7 Successful Total Quality Management (TQM) requires:Question 8 Research on the implementation of TQM programs shows that it takes ________ to completely implement a TQM program.Question 9 The heart of TQM is:Question 10 A danger of an excessive investment in inventory for the small business is:Question 11 “F.O.B. buyer” means that:Question 12 The responsibility for verifying the identity and condition of merchandise:Question 13 ________ is one of the elements of the total inventory costs.Question 14 The small business owner needs to know ________ in order to avoid stockouts and calculate safety stock.Question 15 ________ discounts are normally set up on a graduated scale and are based on a firm’s position in the channel of distribution and on the functions it performs in that channel.Question 16 A number of organizational factors encourage employee theft including:Question 17 Store owners and employees may apprehend and charge a shoplifter:Question 18 Items classified as “A” in ABC analysis should be controlled by a(n) ________ inventory system.Question 19 Employers can reduce employee theft through:Question 20 The two-bin system and the tag system of inventory control are best suited for items classified as ________ in ABC analysis.Question 21 In ABC analysis, the dollar usage value of an item is determined by:Question 22 A physical inventory count should be taken at least:Question 23 The most common method of controlling inventory in a small business is the ________ system.Question 24 The most common method of liquidating slow-moving merchandise is:Question 25 Most employee theft:Question 26 A retail version of Just-In-Time inventory control is called:Question 27 Which of the following is a part of the “Just-In-Time” inventory control philosophy?Question 28 The ________ inventory control system relies on the validity of the 80/20 rule.Question 29 “C” items, in an ABC analysis:Question 30 The purpose of ABC inventory analysis is:Quiz 10Question 1 When it comes to enforcing employment laws and the job interviewing process, the EEOC:Question 2 If a business owner goes to self-directed work teams, he/she is most likely using the ________ style of management.Question 3 A ________ is used by the owner of a small business to determine wage and salary increases, need for training, overall job progress, etc., among other things.Question 4 When workers are empowered:Question 5 A company’s culture:Question 6 Experienced business owners who make effective hires:Question 7 When a small business owner increases the variety of skills needed on a job, permits the worker to complete an entire job rather than a portion of it, and gives the worker more freedom of decision on how to perform the job, the owner is using:Question 8 When checking references, the small business owner:Question 9 When motivating employees, small business owners need to know that:Question 10 Effective leaders are noted for their:Question 11 The implementation of teams fails sometimes because:Question 12 Teams can be helped to succeed by:Question 13 Empowerment works best in work environments where:Question 14 ________ involves cross-training employees so they can move from one job in the company to others, giving them a greater number and variety of tasks to perform.Question 15 A motivational tool that also helps to guide performance and lets the owner know that his/her company is accomplishing its operational goals is:Question 16 Life insurance differs from all other types of insurance in that:Question 17 A company using a risk anticipation strategy would do which of the following?Question 18 A(n) ________ is an agreement between a grantor and a trustee where the trustee holds legal title to property for the beneficiaries of the trust.Question 19 The use of a formal family counsel with an open discussion of all ideas is a way to demonstrate the essential quality of:Question 20 Small business owners have a number of options for controlling health care costs, such as:Question 21 What are the exit strategies available to entrepreneurs when it is time to step down?Question 22 When a risk is evaluated in terms of how much it could affect a company’s ability to operate, the risk is being assessed in terms of:Question 23 While a large percentage of business founders plan to pass on their businesses, few create management succession plans because:Question 24 A company using a risk transfer strategy would do which of the following?Question 25 ________ insurance is protection from loss, theft, or destruction applied to vehicles, buildings, etc. It can be written with a broad coverage or to cover a specific item or items.Question 26 During the transfer of power, when the successor makes mistakes, the owner should:Question 27 There are specific requirements for insurability which include:Question 28 A small fireworks manufacturer that shuts its plant down permanently because the risk of fire and the resulting losses are too great is relying on a risk ________ strategy.Question 29 ________ offer liability coverage that protects against losses resulting from injuries, damage, or theft involving the use of company vehicles.Question 30 The most common and popular estate planning tool for small business owners is the:Quiz 11Question 1 A number of things can be done in order to integrate ethical principles into a company, such as:Question 2 This term denotes the awareness of a company’s management of the social, environmental, political, human, and financial consequences that its actions produce.Question 3 To cope successfully with the many ethical decisions they face, entrepreneurs must develop a workable ________ framework to guide themselves and the organization.Question 4 ________ are the various groups and individuals who affect and are affected by a businessQuestion 5 A(n) ________ is a company-provided benefit designed to help reduce workplace problems such as alcoholism, drug addiction, a gambling habit, and other conflicts and to deal with them when they arise.Question 6 ________ consists of the fundamental moral values and behavioral standards that form the foundation for the people of an organization as they make decisions and interact with stakeholders.Question 7 Those who can most influence individual behavior within a small company and set the moral and ethical tone of a company are its:Question 8 When it comes to monitoring electronic communication, especially e-mail:Question 9 Choose the option that offers the greatest good for the greatest number of people is an example of:Question 10 The ethical standards test of ethical behavior in businesses that prioritizes acting in such a way that the action taken under the circumstances could be a universal law or rule of behavior is called:Question 11 Business ethics consist of the fundamental ________ values and behavioral standards that form the foundation for the people of an organization as they make decisions and interact with stakeholders.Question 12 Doing what is “right” as opposed to what is “wrong” is:Question 13 “Everybody does it.” is an example of:Question 14 The concept of social responsibility has evolved from that of a nebulous “do-gooder” to one of:Question 15 Robin works hard at acting on principle and conviction and striving to do the honorable thing. Robin is guided by the ethical principle of:Question 16 The Uniform Commercial Code:Question 17 Which of the following phrases is sufficient to disclaim an implied sales warranty?Question 18 The author of a hit song could apply for a ________ to protect that work from unauthorized use by others.Question 19 A ________ is a grant giving the inventor of a product the exclusive right to make, use, or sell it for a specific time.Question 20 ________ is the most common type of bankruptcy, accounting for nearly 70% of all bankruptcies.Question 21 This act was passed by Congress to supplement the Clayton Act, providing the power to prevent “unfair methods of competition in commerce or unfair or deceptive acts in commerce.”Question 22 ________ frequently attempt to free one party of all responsibility and liability for an injury or damage that might occur.Question 23 The ________ prohibits debt collectors from using intimidation to collect debts, calling on the debtor at inconvenient times, or contacting third parties about the debt.Question 24 ________ was passed to strengthen the Clayton Act, specifically to address price discrimination because many businesses were circumventing the original rules.Question 25 The act that is the foundation on which antitrust policy in the United States is built is:Question 26 The type of warranty a seller creates when making statements about the condition, quality, and performance of the good that the buyer substantially relies on?Question 27 A ________ is a promise or statement of fact by the seller about a product.Question 28 The ________ requires lenders and sellers who extend credit to disclose fully the terms and conditions of credit arrangements to enable consumers to “shop around.”Question 29 A(n) ________ insures a buyer that the goods will be of average quality and that they are fit for the ordinary purposes for which such goods are used.Question 30 What are, if any, the possible defenses against a valid contract which may cause it to be unenforceable?