Entrepreneurship and Small Business (ESB) Questions And Answers
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Course
ESB
Institution
ESB
Entrepreneurship and Small Business (ESB) Questions And Answers
A dietitian decides to start a cruise vacation business for those looking to learn how to live a healthier lifestyle. The cruise will offer seminars with materials on healthy eating and exercise, and all of the food on the cruise will...
A dietitian decides to start a cruise vacation business for those looking to learn how to live a
healthier lifestyle. The cruise will offer seminars with materials on healthy eating and exercise,
and all of the food on the cruise will be healthy alternatives.Classify each expense as fixed or
variable. SHIP RENTAL - ANS Fixed
What is one impact that a company might experience as a result of an ethical violation? - ANS
Reputation damage and significant loss of customers' trust
Which are three risks of entrepreneurship? - ANS Long hours
A fitness trainer is assessing a business strategy in a neighborhood whose residents are mainly
single, recent college graduates. The trainer would like to target local businesses in the
neighborhood to acquire new customers.Which group should be targeted at these local
businesses? - ANS Employees who work at them
What is an advantage of buying a franchise? - ANS Marketing assistance
A dietitian decides to start a cruise vacation business for those looking to learn how to live a
healthier lifestyle. The cruise will offer seminars with materials on healthy eating and exercise,
and all of the food on the cruise will be healthy alternatives.Classify each expense as fixed or
variable. FOOD - ANS VARIABLE
A dog grooming business is legally structured as a sole proprietorship. What are the tax
implications for this structure? - ANS All profit earned by a sole proprietorship is income
earned by the owner, for which the owner will have a tax liability
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? - ANS Providing 24 hour member access
A landscaper owns a successful local business that provides lawn care services. The owner
wants to enhance the sustainability and longevity of the company. What should the owner do? -
ANS Develop off-season services and secure a long-term credit line
Which three key values does a business plan provide? - ANS It helps determine business
viability
, A hair salon is trying to determine how to tell if it is successful or not and has decided it will be
successful when it starts to make a profit.Which milestone will indicate this? - ANS Reached
break- even point
A dietitian decides to start a cruise vacation business for those looking to learn how to live a
healthier lifestyle. The cruise will offer seminars with materials on healthy eating and exercise,
and all of the food on the cruise will be healthy alternatives.Classify each expense as fixed or
variable. EXERCISE AND DIET BOOKS - ANS FIXED
What is a characteristic of an entrepreneur? - ANS tenacious
A restaurant owner finds that 68% of customers never come back. What is the most important
thing the restaurant owner should do to have a higher percentage of repeat customers? - ANS
Listen to customers
A restaurant owner wants to attract more customers by getting enough ratings to appear on a
popular social media site. The owner can generate 10% more business by reaching an
additional 100 reviews. He knows that if he provides one - hundred 50% off coupons for meals,
he can get 100 reviews.How much will it cost to increase business by 10% if reach coupon is
likely to cost $15? - ANS $1,500
A dietitian decides to start a cruise vacation business for those looking to learn how to live a
healthier lifestyle. The cruise will offer seminars with materials on healthy eating and exercise,
and all of the food on the cruise will be healthy alternatives.Classify each expense as fixed or
variable. CREW MEMBER SALARIES - ANS variable
A travel agent wants to hire a new information technology manager for a fast-growing startup.
The company is two years old, and the ITM is a salaried position that oversees all technology
operations.Which factor could prevent the hire? - ANS Whether the business can afford to pay
the salary of the ITM
What is a drawback of buying a franchise? - ANS Lack of flexibility to change marketing or
operating policies based on local conditions
A personal trainer recently established a personal training company in an underserved urban
community and has been having difficulties securing financial support from banks.Which
resource should the personal trainer utilize to secure funding for his business venture? - ANS
SBA
What is a drawback of a sole proprietorship? - ANS Unlimited personal liability
A furniture builder generates $1,000 per sale on average, and she needs to generate $12,000
per month to break even. Through experience, she finds that 20% of her active prospects buy
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