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ESB Test 1/45 Questions and answers
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ESB Test 1/45 Questions and answers
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ESB Test 1/45 Questions and answersOphelia 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? - -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 when he requests time off he is denied because of customer
workload. Recently, two new electricians were hired that do sloppy work and
don't get along well with Gabe. As a resultGabe decides go into business for
himself. Which benefit of entrepreneurship will Gabe most enjoy? - -
autonomy
-A photographer enjoys traveling and having freedom over her own
schedule. She would like to turn her photography hobby into a business.
Which are the two greatest benefits she might experience by turning her
hobby into a successful business ? (Choose two ) - -making her own rules
satisfaction
-Which two characteristics best describe entrepreneurs? - -creative
adaptable
-Successful entrepreneurs typically possess which three characteristics? - -
tenacious
adaptable
responsible
-Rey has worked as a transportation coordinator for the past 10 years. Rey
often is dissatisfied with the stagnation of the job and wants to open her own
transportation service. Which benefit of entrepreneurship will be the biggest
one for Rey? - -autonomy
-After a self-assessment, a potential entrepreneur has learned that he knows
nothing about accounting and keeping records for a business. Based upon
this finding, what should this entrepreneur do? - -enroll in a beginning level
business accounting course at a local community college
-Which are three risks of entrepreneurship? (Choose three) - -financial
insecurity
potential business failure
long hours
, -Which are traits of a successful entrepreneur? Choose three answers. - -
enthusiastic
patient
confident
-Fran works for a flooring company in a neighboring town. Many of Fran's
customers complain about a lack of available flooring companies in the area
and that of those companies, the prices are too high. Should Fran decide to
open a flooring business, what can be a good marketing strategy? - -low
prices
-Besides defining strengths and weaknesses, what is the other main factor
determined during a self-assessment? - -Risk tolerance
-Which is considered to be a great immediate benefit of being a an
entrepreneur? - -more schedule control
-George wants to take his passion for golf and open a golf academy. What
would be benefits George could enjoy from this experience? Choose two
answers. - -financial gains
satisfaction of pursing his passion
-Which three things are defined when doing a self-assessment? - -
weaknesses
strengths
risk tolerance
-Which are considered rewards of being an entrepreneur? Choose three
answers - -bigger community asset
potential for better earnings compared to regular job
working the way one chooses
-Julie wants to open a restaurant. Upon doing a self- assessment, Julie
realizes she has no clue how to figure out whether her restaurant is
profitable. What should Julie do? - -get some basic accounting knowledge
-An entrepreneur moves into a small town and notices several stores selling
guns and ammunition. The entrepreneur loves to compete in competitive
shooting events , but learns there is no shooting range in the local
community. Research into the situation reveals that a large number of
recreational shooters and competitive shooters are traveling to a public
range located in a neighboring town. The entrepreneur decides to open a
shooting range in the local community. Based on the scenario provided, what
should be emphasized in marketing to attract customers? - -location
-local community - -attendance at a chamber of commerce event
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