ESB

In general, which characteristics define a "small" business? - Answer-- fewer than 1,500 employees - less than $35.5 million revenue classify each of the following as either physical or digital - Answer-PHYSICAL: - bakery in your community - hair salon that makes appointments online DIGITAL: - online store that dropships camping gear - bookstore on amazon that sells ebooks you need to create a legal structure for your small business. you have plans for it to grow and hope in the ...

Flexibility - Answer-Ability to adapt, willingness to change Courage - Answer-Takes risks in spite of possible losses Empathy - Answer-Sensitive to thoughts and feelings of others What are three characteristics of entrepreneurs? - Answer-Creativity, Determination, Enthusiasm After a self-assessment, a potential entrepreneur has learned that she has a very low risk tolerance. Based upon this finding, which approach might be less stressful for the entrepreneur to have her own business?...

ESB 2024 UPDATE COMPREHENSIVE QUESTIONS AND VERIFIED CORRECT ANSWERS STUDY GUIDE

In general, which two characteristics define a "small" business? (Choose two) - Fewer then 1,500 employees AND Less than $35.5 million revenue Classify each of the following businesses as either Physical or Digital. - Physical: - Bakery in your community - Hair salon that makes appointments online

T/F Trademark licensing is used for brand names, logos, or slogans - True This segment describes the benefits to customers based on their wants or needs and how they use the product - Behavioral T/F Trade secret licensing must be registered with the gov - True T/F The design thinking process places a high emphasis on developing customer empathy - True

Flexibility - Ability to adapt, willingness to change Courage - Takes risks in spite of possible losses Empathy - Sensitive to thoughts and feelings of others What are three characteristics of entrepreneurs? - Creativity, Determination, Enthusiasm

Domain 1 Lesson 1 - The key objective of a small business owner is to generate ____ - profits Entrepreneurs are willing to take on new opportunities and unknown ____ to grow their businesses rapidly - risks Tangible items that require pick-up or delivery are ____ products - physical When a ____ purchases an item from a business, it is a business-to-consumer transaction - customer

James owns a restaurant with beginning cash balance of $5,000, $30,000 in sales, $2,000 in utilities, $6,000 in loans and $4,000 in marketing. What is James ending cash balance? - $24,800 Shelly owns a car dealership. She just received a shipment of teslas and paid $70,000 for each one and wants to make 25%. What should her selling price be? - $87,500 TRUE OR FALSE: Mortgage Payments are Long Term Liabilities - True

T/F Trademark licensing is used for brand names, logos, or slogans - True This segment describes the benefits to customers based on their wants or needs and how they use the product - Behavioral T/F Trade secret licensing must be registered with the gov - True T/F The design thinking process places a high emphasis on developing customer empathy - True T/F The design thinking process aims to develop solutions to problems - True You want to buy a gift shop in a popular location with...

Quality - _______ is measured by how well the product or service successfully serves its users' purpose. E-commerce sales and door-to-door sales - What are two examples of direct distribution channels? Middlemen - Indirect distribution channels use _______ to sell their products to the end customers. Idea - The first stage of the product/market fit is the ________ stage. prototype - The second stage of the product/market fit is the ________ stage. launch - The third stage of the ...