Entrepreneurship and Small Business
(ESB) Pre-test Already Passed
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? ✔✔Service
What is considered to be primary risk for an entrepreneur who is launching a start-up company?
✔✔Personal Financial Insecurity
What is a key benefit of buying an existing small business versus launching a start-up?
✔✔Easier to finance a business purchase than a business start-up
, 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? ✔✔Hotels
A new auto mechanic business wants to grow revenues. What are marketing methods that
promise to create new customers?
Pick the two best answer. ✔✔A) Sending discount coupons to car owner who lives within 5
miles of the shop
B) Giving current customers a loyalty discount
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.
(ESB) Pre-test Already Passed
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? ✔✔Service
What is considered to be primary risk for an entrepreneur who is launching a start-up company?
✔✔Personal Financial Insecurity
What is a key benefit of buying an existing small business versus launching a start-up?
✔✔Easier to finance a business purchase than a business start-up
, 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? ✔✔Hotels
A new auto mechanic business wants to grow revenues. What are marketing methods that
promise to create new customers?
Pick the two best answer. ✔✔A) Sending discount coupons to car owner who lives within 5
miles of the shop
B) Giving current customers a loyalty discount
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.
