Entrepreneurship Chapter 11
Showing posts with label Entrepreneurship Chapter 11. Show all posts
Showing posts with label Entrepreneurship Chapter 11. Show all posts

Which of the following is true of leasing issues?

Which of the following is true of leasing issues? 



A. Landlords do not have the right to move a business elsewhere at their discretion.

B. It costs more to limit the landlord's ability to lease to competing businesses.

C. It is irrelevant to look for stores in a landlord's property that match your business hours.

D. There are no penalties or problems for rent default.


Answer: B. It costs more to limit the landlord's ability to lease to competing businesses.

Which of the following is true of high customer contact businesses?

Which of the following is true of high customer contact businesses? 



A. Remote location services are examples of high customer contact businesses.

B. Traffic generators reduce customer traffic to the target market area.

C. Businesses providing a strong contrast to existing competition in the same area increase customer traffic.

D. Customer ease is not critical in high customer contact businesses.


Answer: C. Businesses providing a strong contrast to existing competition in the same area increase customer traffic.

Which of the following is true of business locations?

Which of the following is true of business locations? 



A. Target market customers are essential factors for selecting business locations.

B. Most entrepreneurs prefer their business locations to be outside their hometown.

C. The cost of moving a company across town or across the country is cheap.

D. Proximity of competitors does not affect choice of business locations.


Answer: A. Target market customers are essential factors for selecting business locations.

Which of the following statements is true of exporting?

Which of the following statements is true of exporting? 



A. Agents and export trading companies are extensively used in direct exporting.

B. Unstable governments and economies are a good market to export goods.

C. Shipping documentation and paperwork are generic to all products and countries.

D. Insurance is essential for export payments to overcome the risk of default.


Answer: D. Insurance is essential for export payments to overcome the risk of default.

Which of the following is true of payment procedures?

Which of the following is true of payment procedures? 





A. A letter of credit can be exercised only with specified shipping documents.

B. Providing credit to customers is a risk to the customers.

C. Up-front cash payment is a risk to the customers.

D. A documentary draft involves only two parties—the company and the customer.


Answer: C. Up-front cash payment is a risk to the customers.

_____ are specialists in export-related activities including tariff schedules, shipping, insurance, packing, transportation arrangements, customs clearing, and other export details.

_____ are specialists in export-related activities including tariff schedules, shipping, insurance, packing, transportation arrangements, customs clearing, and other export details. 



A. Born internationals

B. Freight forwarders

C. Contract manufacturers

D. Traffic generators


Answer: B. Freight forwarders

While teaching strategy at Farrell University, Jessica developed an interactive strategy-simulation game to inculcate the concept of strategy to her students. She found that they were able to grasp the concept much better from the game rather than from reading books. For two years Jessica used the game to teach students. Eventually she removed possible glitches and perfected the game. She wanted students at other universities to benefit from the simulation. The result was the launch of Simulate Strategy, Inc. Some of Jessica's students suggested that she create a Web site for Simulate Strategy, Inc. Her company is fairly new and opening a Web site immediately would expose her company to customers from around the world. In this scenario, Simulate Strategy is an example of a _____.

While teaching strategy at Farrell University, Jessica developed an interactive strategy-simulation game to inculcate the concept of strategy to her students. She found that they were able to grasp the concept much better from the game rather than from reading books. For two years Jessica used the game to teach students. Eventually she removed possible glitches and perfected the game. She wanted students at other universities to benefit from the simulation. The result was the launch of Simulate Strategy, Inc. Some of Jessica's students suggested that she create a Web site for Simulate Strategy, Inc. Her company is fairly new and opening a Web site immediately would expose her company to customers from around the world. In this scenario, Simulate Strategy is an example of a _____. 



A. freight forwarder

B. born international

C. sheltered workshop

D. contract manufacturer


Answer: B. born international

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