Entrepreneurship and Small Business (ESB) Pre-test
Questions with 100% correct Solutions.
Service - Answer ✔️✔️-A head chef conducts a survey of other restaurants in the area. The chef
notices that most customer complaints primarily come from takeout order being delayed. The
chef believes that having a short-order cook dedicated to primarily come from takeout orders
being delayed. The chef believes that having a short-order cook dedicated to primarily come
from takeout orders being delayed. The chef believes that having a short-order cook dedicated to
preparing carryout orders will make his restaurant the fastest and most dependable place for
takeout customers.
By spending scare resources on hiring a short-order cook, what competitive advantage factor is
the chef trying to achieve at his/her restaurant?
Personal Financial Insecurity - Answer ✔️✔️-What is considered to be primary risk for an
entrepreneur who is launching a start-up company?
Easier to finance a business purchase than a business start-up - Answer ✔️✔️-What is a key
benefit of buying an existing small business versus launching a start-up?
Hotels - Answer ✔️✔️-A travel agent wants to start-up a new travel company. He pays a market
research company to survey 100 frequent affluent vacation travelers about luxury travel options.
The market research responses:
Which luxury travel service would contribute the most to the profitability of the start-up
business?
A) Sending discount coupons to car owner who lives within 5 miles of the shop
, B) Giving current customers a loyalty discount - Answer ✔️✔️-A new auto mechanic business
wants to grow revenues. What are marketing methods that promise to create new customers?
Pick the two best answer.
Providing 24 hour member access - Answer ✔️✔️-A fitness trainer is presenting a business plan
for a new studio to investors. The trainer envisions a studio with equipment and features that will
meet the needs of customers with a variety of personal and work schedules.
What studio feature would appeal to customers with demanding schedules?
Investors do not earn a return (dividends or increased stock price) if the business does not make a
profit - Answer ✔️✔️-When entrepreneur convinces outside investors to contribute equity to the
new venture, which is true?
Probable loss of current and future clients - Answer ✔️✔️-Whats is a consequence for a real estate
agent who violates confidentiality by discussing the client's personal income after work at a
party?
First
Second
Third
Last - Answer ✔️✔️-Identify the skills needed
Write the job profile
Post the advertisement
Review qualifications of applicants
Benefits administration - Answer ✔️✔️-The owner of a growing landscaping company with 30
employees has decided to outsource the payroll and payroll-related functions of the business.
Questions with 100% correct Solutions.
Service - Answer ✔️✔️-A head chef conducts a survey of other restaurants in the area. The chef
notices that most customer complaints primarily come from takeout order being delayed. The
chef believes that having a short-order cook dedicated to primarily come from takeout orders
being delayed. The chef believes that having a short-order cook dedicated to primarily come
from takeout orders being delayed. The chef believes that having a short-order cook dedicated to
preparing carryout orders will make his restaurant the fastest and most dependable place for
takeout customers.
By spending scare resources on hiring a short-order cook, what competitive advantage factor is
the chef trying to achieve at his/her restaurant?
Personal Financial Insecurity - Answer ✔️✔️-What is considered to be primary risk for an
entrepreneur who is launching a start-up company?
Easier to finance a business purchase than a business start-up - Answer ✔️✔️-What is a key
benefit of buying an existing small business versus launching a start-up?
Hotels - Answer ✔️✔️-A travel agent wants to start-up a new travel company. He pays a market
research company to survey 100 frequent affluent vacation travelers about luxury travel options.
The market research responses:
Which luxury travel service would contribute the most to the profitability of the start-up
business?
A) Sending discount coupons to car owner who lives within 5 miles of the shop
, B) Giving current customers a loyalty discount - Answer ✔️✔️-A new auto mechanic business
wants to grow revenues. What are marketing methods that promise to create new customers?
Pick the two best answer.
Providing 24 hour member access - Answer ✔️✔️-A fitness trainer is presenting a business plan
for a new studio to investors. The trainer envisions a studio with equipment and features that will
meet the needs of customers with a variety of personal and work schedules.
What studio feature would appeal to customers with demanding schedules?
Investors do not earn a return (dividends or increased stock price) if the business does not make a
profit - Answer ✔️✔️-When entrepreneur convinces outside investors to contribute equity to the
new venture, which is true?
Probable loss of current and future clients - Answer ✔️✔️-Whats is a consequence for a real estate
agent who violates confidentiality by discussing the client's personal income after work at a
party?
First
Second
Third
Last - Answer ✔️✔️-Identify the skills needed
Write the job profile
Post the advertisement
Review qualifications of applicants
Benefits administration - Answer ✔️✔️-The owner of a growing landscaping company with 30
employees has decided to outsource the payroll and payroll-related functions of the business.
