ESB

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 ____ are for-profit corporations with limited liability - ️️S corpo...

Entrepreneurship - ️️Setting up business with the aim to make profit. B2B (business-to-business) - ️️Sells products and services directly to other businesses. Normally requires a sales tax exemption certificate from the buyer. B2C (business-to-consumer) - ️️Sells products and services directly to customer for personal use. Small buisness - ️️A small business is when a business has less than 35.5 million dollars in revenue, and fewer than 1,500 employees. S corporation...

Ophelia runs a local seamstress business. Ophelia is losing customers to a competing business. Upon sending an employee over to check out the competition, Ophelia discovers the competitor's turnaround time is double her turnaround time. What should Ophelia's new marketing strategy be to woo back her customers? - Answer-service Gabe has worked as a journeyman electrician for an employer for the past 16 years. He is paid a good salary. His only dissatisfaction is the hours are long and often ...

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