Entrepreneurship and Small Business (ESB) UPDATED Exam Questions and CORRECT Answers
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Course
Entrepreneurship and Small Business
Institution
Entrepreneurship And Small Business
Entrepreneurship and Small Business
(ESB) UPDATED Exam Questions and
CORRECT Answers
Service - CORRECT ANSWER- 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 t...
Entrepreneurship and Small Business
(ESB) UPDATED Exam Questions and
CORRECT Answers
Service - CORRECT ANSWER- 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?
Personal Financial Insecurity - CORRECT ANSWER- What is considered to be primary risk
for an entrepreneur who is launching a start-up company?
Easier to finance a business purchase than a business start-up - CORRECT ANSWER- What
is a key benefit of buying an existing small business versus launching a start-up?
Hotels - CORRECT ANSWER- 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?
A) Sending discount coupons to car owner who lives within 5 miles of the shop
B) Giving current customers a loyalty discount - CORRECT ANSWER- A new auto
mechanic business wants to grow revenues. What are marketing methods that promise to
create new customers?
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