Essentials of Entrepreneurship and Small Business Management 9th Edition

Copyright 2019 Pearson Education, Inc. Case Solutions, Page 293 Copyright 2019 Pearson Education, Inc. Case Solutions, Page 293 Copyright 2019 Pearson Education, Inc. Case Solutions, Page 293 CASE SOLUTIONS Case 1: United Apparel Liquidators https://shopual.com/ Related Chapters: Chapter 5: Crafting a Business Plan and Building a Solid Strategic

Copyright 2019 Pearson Education, Inc. Case Solutions, Page 303 Copyright 2019 Pearson Education, Inc. Case Solutions, Page 303 Copyright 2019 Pearson Education, Inc. Case Solutions, Page 303 1. Calculate the twelve ratios for Bluffton Pharmacy for this year. (Chapter 12, LO 3) (AACSB: Application of knowledge) RATIO Liquidity Ratios

Copyright 2019 Pearson Education, Inc. Case Solutions, Page 310 Copyright 2019 Pearson Education, Inc. Case Solutions, Page 310 Copyright 2019 Pearson Education, Inc. Case Solutions, Page 310 Surplus/Deficit ($8,513) $24,120 ($1,635) ($1,460) ($812) ($5,065) ($4,811) ($1,171) $936 $10,055 $3,674 $5,775 Copyright 2016 Pearson Education, Inc. Case Solutions, Page

Copyright 2019 Pearson Education, Inc. Chapter 1, Page 1 Copyright 2019 Pearson Education, Inc. Chapter 1, Page 1 Copyright 2019 Pearson Education, Inc. Chapter 1, Page 1 SECTION I. THE CHALLENGE OF ENTREPRENEURSHIP CHAPTER 1. THE FOUNDATIONS OF ENTREPRENEURSHIP Part 1: Learning Objectives 1. Define the role of

Copyright 2019 Pearson Education, Inc. Chapter 1, Page 10 Copyright 2019 Pearson Education, Inc. Chapter 1, Page 10 Copyright 2019 Pearson Education, Inc. Chapter 1, Page 10 4. Work with a team of your classmates to interview at least one entrepreneur. Does he or she fit the model described

Copyright 2019 Pearson Education, Inc. Copyright 2019 Pearson Education, Inc. Copyright 2019 Pearson Education, Inc. Chapter 10, Page 157 CHAPTER 10. E-COMMERCE AND THE ENTREPRENEUR Part 1: Learning Objectives 1. Understand the factors an entrepreneur should consider before launching into e- commerce. 2. Explain the 11 myths of

Copyright 2019 Pearson Education, Inc. Copyright 2019 Pearson Education, Inc. Copyright 2019 Pearson Education, Inc. Chapter 10, Page 166 Conclusion Planning for an Internet presence can make all the difference. Entrepreneurs will benefit by being strategic about their presence on the Web. Gain an appreciation for online approaches that

Copyright 2019 Pearson Education, Inc. Chapter 11, Page 174 Copyright 2019 Pearson Education, Inc. Chapter 11, Page 174 Copyright 2019 Pearson Education, Inc. Chapter 11, Page 174 CHAPTER 11. PRICING AND CREDIT STRATEGIES Part 1: Learning Objectives 1. Discuss the relationships among pricing, image, competition, and value. 2.

Copyright 2019 Pearson Education, Inc. Chapter 11, Page 182 Copyright 2019 Pearson Education, Inc. Chapter 11, Page 182 Copyright 2019 Pearson Education, Inc. Chapter 11, Page 182 o Contact the credit card company or the bank if you suspect an order may be fraudulent before processing an order.

Copyright 2019 Pearson Education, Inc. Chapter 12, Page 189 Copyright 2019 Pearson Education, Inc. Chapter 12, Page 189 Copyright 2019 Pearson Education, Inc. Chapter 12, Page 189 CHAPTER 12. CREATING A SUCCESSFUL FINANCIAL PLAN Part 1: Learning Objectives 1. Describe how to prepare the basic financial statements and use

Copyright 2019 Pearson Education, Inc. Chapter 12, Page 196 Copyright 2019 Pearson Education, Inc. Chapter 12, Page 196 Copyright 2019 Pearson Education, Inc. Chapter 12, Page 196 Leverage ratios measure the relationships between financing supplied by a firms owners and by its creditors. Operating Ratios help an entrepreneur evaluate a

Copyright 2019 Pearson Education, Inc. Copyright 2019 Pearson Education, Inc. Copyright 2019 Pearson Education, Inc. Chapter 13, Page 203 CHAPTER 13. MANAGING CASH FLOW Part 1: Learning Objectives 1. Explain the importance of cash management to a small companys success. 2. Differentiate between cash and profits. 3. Describe the

Copyright 2019 Pearson Education, Inc. Copyright 2019 Pearson Education, Inc. Copyright 2019 Pearson Education, Inc. Chapter 13, Page 212 account that automatically sweeps all funds in a companys checking account above a predetermined minimum into an interest-bearing account. Keep your business plan current in case an unexpected cash crisis

Copyright 2019 Pearson Education, Inc. Chapter 14, Page 221 Copyright 2019 Pearson Education, Inc. Chapter 14, Page 221 Copyright 2019 Pearson Education, Inc. Chapter 14, Page 221 CHAPTER 14. CHOOSING THE RIGHT LOCATION AND LAYOUT Part 1: Learning Objectives 1. Explain the stages in the location

Copyright 2019 Pearson Education, Inc. Chapter 14, Page 229 Copyright 2019 Pearson Education, Inc. Chapter 14, Page 229 Copyright 2019 Pearson Education, Inc. Chapter 14, Page 229 The checkout process is particularly important, as shoppers tend to be impatient and only willing to wait about four minutes before becoming

Copyright 2019 Pearson Education, Inc. Chapter 15, Page 237 SECTION IV. PUTTING THE BUSINESS PLAN TO WORK: SOURCES OF FUNDS CHAPTER 15. SOURCES OF FINANCING: EQUITY AND DEBT Part 1: Learning Objectives 1. Describe the differences between equity capital and debt capital. 2. Discuss the various sources

Copyright 2019 Pearson Education, Inc. Chapter 15, Page 237 Copyright 2019 Pearson Education, Inc. Chapter 15, Page 237 Copyright 2019 Pearson Education, Inc. Chapter 15, Page 237 SECTION IV. PUTTING THE BUSINESS PLAN TO WORK: SOURCES OF FUNDS CHAPTER 15. SOURCES OF FINANCING: EQUITY AND DEBT Part

Copyright 2019 Pearson Education, Inc. Chapter 15, Page 247 Copyright 2019 Pearson Education, Inc. Chapter 15, Page 247 Copyright 2019 Pearson Education, Inc. Chapter 15, Page 247 o Capital Access Programs (CAPs) is a state lending program that encourages lending institutions to make loans to businesses that do not

Copyright 2019 Pearson Education, Inc. Chapter 15, Page 253 Copyright 2019 Pearson Education, Inc. Chapter 15, Page 253 Copyright 2019 Pearson Education, Inc. Chapter 15, Page 253 15-17. Outline and briefly describe the major types of short-term, intermediate, and long-term loans commercial banks offer. (LO 4) Short-term loans are

Copyright 2019 Pearson Education, Inc. Chapter 16, Page 258 Copyright 2019 Pearson Education, Inc. Chapter 16, Page 258 Copyright 2019 Pearson Education, Inc. Chapter 16, Page 258 CHAPTER 16. GLOBAL ASPECTS OF ENTREPRENEURSHIP Part 1: Learning Objectives 1. Explain why going global has become an integral part of

Copyright 2019 Pearson Education, Inc. Chapter 16, Page 266 Copyright 2019 Pearson Education, Inc. Chapter 16, Page 266 Copyright 2019 Pearson Education, Inc. Chapter 16, Page 266 8. Ship your goods. 9. Collect your money. You Be the Consultant: Expat Entrepreneurs Find Opportunity in Argentina 1. How

Copyright 2019 Pearson Education, Inc. Chapter 17, Page 273 Copyright 2019 Pearson Education, Inc. Chapter 17, Page 273 Copyright 2019 Pearson Education, Inc. Chapter 17, Page 273 CHAPTER 17. BUILDING A NEW VENTURE TEAM AND PLANNING FOR THE NEXT GENERATION Part 1: Learning Objectives 1. Explain the challenges

Copyright 2019 Pearson Education, Inc. Chapter 17, Page 282 Copyright 2019 Pearson Education, Inc. Chapter 17, Page 282 Copyright 2019 Pearson Education, Inc. Chapter 17, Page 282 percent of the U.S. economys net new jobs. The stumbling block for most family businesses is management succession. Only about 30 percent

Copyright 2019 Pearson Education, Inc. Chapter 2, Page 18 Copyright 2019 Pearson Education, Inc. Chapter 2, Page 18 Copyright 2019 Pearson Education, Inc. Chapter 2, Page 18 CHAPTER 2. ETHICS AND SOCIAL RESPONSIBILITY: DOING THE RIGHT THING Part 1: Learning Objectives 1. Define business ethics and describe the three

Copyright 2019 Pearson Education, Inc. Chapter 2, Page 28 Copyright 2019 Pearson Education, Inc. Chapter 2, Page 28 Copyright 2019 Pearson Education, Inc. Chapter 2, Page 28 Part 3: Chapter Exercises You Be the Consultant: Funding Social Ventures Through Franchise Businesses 1. What challenges does owning and operating a

Copyright 2019 Pearson Education, Inc. Chapter 2, Page 34 Copyright 2019 Pearson Education, Inc. Chapter 2, Page 34 Copyright 2019 Pearson Education, Inc. Chapter 2, Page 34 market forces. 2-14. How do social entrepreneurs differ from traditional entrepreneurs? (LO 4) (AACSB: Ethical understanding and reasoning) Traditional entrepreneurs seek opportunities to

Copyright 2019 Pearson Education, Inc. Chapter 3, Page 39 Copyright 2019 Pearson Education, Inc. Chapter 3, Page 39 Copyright 2019 Pearson Education, Inc. Chapter 3, Page 39 CHAPTER 3. CREATIVITY AND INNOVATION: KEYS TO ENTREPRENEURIAL SUCCESS Part 1: Learning Objectives ENTREPRENEURIAL SUCCESS Part 1: Learning Objectives ENTREPRENEURIAL SUCCESS Part

Copyright 2019 Pearson Education, Inc. Chapter 3, Page 49 Copyright 2019 Pearson Education, Inc. Chapter 3, Page 49 Copyright 2019 Pearson Education, Inc. Chapter 3, Page 49 3. Search existing patents 4. Study search results 5. Complete patent application 6. File the patent application In addition, the inventor must

Copyright 2019 Pearson Education, Inc. Chapter 3, Page 55 Copyright 2019 Pearson Education, Inc. Chapter 3, Page 55 Copyright 2019 Pearson Education, Inc. Chapter 3, Page 55 cases resolved? If a judge rendered a decision, summarize his or her reasoning. Do you agree with the judges decision? (LO 8)

Copyright 2019 Pearson Education, Inc. Chapter 4, Page 60 Copyright 2019 Pearson Education, Inc. Chapter 4, Page 60 Copyright 2019 Pearson Education, Inc. Chapter 4, Page 60 SECTION II. THE ENTREPRENEURIAL JOURNEY BEGINS CHAPTER 4. CONDUCTING A FEASIBILITY ANALYSIS AND DESIGNING A BUSINESS MODEL Part 1: Learning Objectives 1.

Copyright 2019 Pearson Education, Inc. Chapter 4, Page 70 Copyright 2019 Pearson Education, Inc. Chapter 4, Page 70 Copyright 2019 Pearson Education, Inc. Chapter 4, Page 70 Part 3: Chapter Exercises Hands On How To: Forces Shaping Innovation: The Driverless Car Hands On How To: Forces Shaping Innovation:

Copyright 2019 Pearson Education, Inc. Chapter 5, Page 79 Copyright 2019 Pearson Education, Inc. Chapter 5, Page 79 Copyright 2019 Pearson Education, Inc. Chapter 5, Page 79 CHAPTER 5. CRAFTING A BUSINESS PLAN AND BUILDING A SOLID STRATEGIC PLAN Part 1: Learning Objectives SOLID STRATEGIC PLAN Part 1:

Have they thought through the ramifications of their ideas? Is the financial proposal sound? What individuals or groups did the students propose for judging the competition? How did they structure the competition and is that a viable format? Have they thought through the ramifications of their ideas? Is

Copyright 2019 Pearson Education, Inc. Chapter 6, Page 99 Copyright 2019 Pearson Education, Inc. Chapter 6, Page 99 Copyright 2019 Pearson Education, Inc. Chapter 6, Page 99 CHAPTER 6. FORMS OF BUSINESS OWNERSHIP Part 1: Learning Objectives 1. Explain the advantages and the disadvantages of a sole proprietorship and

Copyright 2019 Pearson Education, Inc. Chapter 6, Page 105 Student responses may include, and are not limited to, the following: Lack of follow through based on the agreed division of partner responsibilities and duties Lack of communication talking and listening Lack of mutual respect Misuse

Copyright 2019 Pearson Education, Inc. Chapter 7, Page 110 Copyright 2019 Pearson Education, Inc. Chapter 7, Page 110 Copyright 2019 Pearson Education, Inc. Chapter 7, Page 110 CHAPTER 7. BUYING AN EXISTING BUSINESS 1. Describe the advantages and disadvantages of buying an existing business. 2. Explain the five stages

Copyright 2019 Pearson Education, Inc. Chapter 7, Page 116 Copyright 2019 Pearson Education, Inc. Chapter 7, Page 116 Copyright 2019 Pearson Education, Inc. Chapter 7, Page 116 3. What techniques for estimating the value of these businesses would be most useful to a prospective buyer of these companies? Are

Copyright 2019 Pearson Education, Inc. Chapter 8, Page 121 Copyright 2019 Pearson Education, Inc. Chapter 8, Page 121 Copyright 2019 Pearson Education, Inc. Chapter 8, Page 121 CHAPTER 8. FRANCHISING AND THE ENTREPRENEUR Part 1: Learning Objectives 1. Describe the three types of franchising: trade name, product

Copyright 2019 Pearson Education, Inc. Chapter 8, Page 129 Inventory the business climate for U.S. business operating within the foreign country Assess the state of the current and anticipated economic and financial environment Gain information about government restriction on a national, regional and local bases

Copyright 2019 Pearson Education, Inc. Chapter 9, Page 137 Copyright 2019 Pearson Education, Inc. Chapter 9, Page 137 Copyright 2019 Pearson Education, Inc. Chapter 9, Page 137 SECTION III. LAUNCHING THE BUSINESS CHAPTER 9. BUILDING A POWERFUL BOOTSTRAP MARKETING PLAN Part 1: Learning Objectives 1. Describe the principles

Copyright 2019 Pearson Education, Inc. Chapter 9, Page 147 Copyright 2019 Pearson Education, Inc. Chapter 9, Page 147 Copyright 2019 Pearson Education, Inc. Chapter 9, Page 147 Retain Existing Customers. Devotion to Quality. Attention to Convenience. Concentrate on Innovation. Emphasize Speed. Be able to track the

Copyright 2019 Pearson Education, Inc. Sample Syllabus, Page 317 Copyright 2019 Pearson Education, Inc. Sample Syllabus, Page 317 Copyright 2019 Pearson Education, Inc. Sample Syllabus, Page 317 SAMPLE SYLLABUS Entrepreneurship (MAN 4802) Section 2, Spring 20XX Prerequisites Junior Standing, MAN 3025, and MAR 3023 Credit Hours: 3

1 Answer: FALSE Diff: 1 Learning Obj: 1-1 Define the role of the entrepreneur in business in the United States and around the world. AACSB: Analytical Thinking 1 Answer: FALSE Diff: 1 Learning Obj: 1-1 Define the role of the entrepreneur in business in the United States and around the

16 Answer: TRUE Diff: 1 Learning Obj: 1-5 Explain the cultural diversity of entrepreneurship. AACSB: Diverse and Multicultural Work Environments 16 Answer: TRUE Diff: 1 Learning Obj: 1-5 Explain the cultural diversity of entrepreneurship. AACSB: Diverse and Multicultural Work Environments 16 Answer: TRUE Diff: 1 Learning Obj: 1-5 Explain the

1 Answer: B Diff: 2 Learning Obj: 2-1 Define business ethics and describe the three levels of ethical standards. AACSB: Ethical Understanding and Reasoning 1 Answer: B Diff: 2 Learning Obj: 2-1 Define business ethics and describe the three levels of ethical standards. AACSB: Ethical Understanding and Reasoning 1 Answer:

13 Answer: D Diff: 2 Learning Obj: 2-3 Explain how to establish and maintain high ethical standards. AACSB: Ethical Understanding and Reasoning 13 Answer: D Diff: 2 Learning Obj: 2-3 Explain how to establish and maintain high ethical standards. AACSB: Ethical Understanding and Reasoning 13 Answer: D Diff: 2 Learning

1 Answer: A Diff: 2 Learning Obj: 3-1 Explain the differences among creativity, innovation, and entrepreneurship. AACSB: Reflective Thinking 1 Answer: A Diff: 2 Learning Obj: 3-1 Explain the differences among creativity, innovation, and entrepreneurship. AACSB: Reflective Thinking 1 Answer: A Diff: 2 Learning Obj: 3-1 Explain the differences among

16 Answer: B Diff: 2 Learning Obj: 3-5 Describe the steps in the creative process. AACSB: Analytical Thinking 16 Answer: B Diff: 2 Learning Obj: 3-5 Describe the steps in the creative process. AACSB: Analytical Thinking 16 Answer: B Diff: 2 Learning Obj: 3-5 Describe the steps in the creative

1 Answer: Questions the feasibility plan addresses include: How large is the industry? How fast is the industry growing? Is the industry as a whole profitable? Is the industry characterized by high profit margins or razor-thin margins? How essential are its products or services to customers? What trends are shaping

15 Answer: A Diff: 1 Learning Obj: 4-5 Describe the various methods of conducting primary and secondary market research. AACSB: Analytical Thinking 15 Answer: A Diff: 1 Learning Obj: 4-5 Describe the various methods of conducting primary and secondary market research. AACSB: Analytical Thinking 15 Answer: A Diff: 1 Learning

1 Answer: B Diff: 2 Learning Obj: 5-1 Explain the benefits of an effective business plan. AACSB: Written and Oral Communication 1 Answer: B Diff: 2 Learning Obj: 5-1 Explain the benefits of an effective business plan. AACSB: Written and Oral Communication 1 Answer: B Diff: 2 Learning Obj: 5-1

19 Answer: FALSE Diff: 1 Learning Obj: 5-6 Explain why and how a small business must create a competitive advantage in the market. AACSB: Analytical Thinking 19 Answer: FALSE Diff: 1 Learning Obj: 5-6 Explain why and how a small business must create a competitive advantage in the market. AACSB:

1 Answer: A Diff: 1 Learning Obj: 6-1 Explain the advantages and disadvantages of a sole proprietorship and a partnership. AACSB: Analytical Thinking 1 Answer: A Diff: 1 Learning Obj: 6-1 Explain the advantages and disadvantages of a sole proprietorship and a partnership. AACSB: Analytical Thinking 1 Answer: A Diff:

13 Answer: A partnership is an association of two or more people who co-own a business for the purpose of making a profit. Advantages of a partnership: Easy to establish Complementary skills Division of profits Larger capital pool Ability to attract limited partners Minimal governmental regulation Flexibility Taxation Disadvantages of

1 Answer: D Diff: 1 Learning Obj: 7-1 Describe the advantages and disadvantages of buying an existing business. AACSB: Reflective Thinking 1 Answer: D Diff: 1 Learning Obj: 7-1 Describe the advantages and disadvantages of buying an existing business. AACSB: Reflective Thinking 1 Answer: D Diff: 1 Learning Obj: 7-1

1 Answer: C Diff: 3 Learning Obj: 8-1 Describe the three types of franchising: trade name, product distribution, and pure. AACSB: Analytical Thinking 1 Answer: C Diff: 3 Learning Obj: 8-1 Describe the three types of franchising: trade name, product distribution, and pure. AACSB: Analytical Thinking 1 Answer: C Diff:

1 Answer: B Diff: 1 Learning Obj: 9-1 Describe the principles of building a bootstrap marketing plan, and explain the benefits of preparing one. AACSB: Analytical Thinking 1 Answer: B Diff: 1 Learning Obj: 9-1 Describe the principles of building a bootstrap marketing plan, and explain the benefits of preparing

17 Answer: D Diff: 3 Learning Obj: 9-4 Describe how a small business can build a competitive edge in the marketplace using bootstrap marketing strategies. AACSB: Analytical Thinking 17 Answer: D Diff: 3 Learning Obj: 9-4 Describe how a small business can build a competitive edge in the marketplace using

1 Answer: C Diff: 3 Learning Obj: 10-1 Understand the factors an entrepreneur should consider before launching into e-commerce. AACSB: Analytical Thinking 1 Answer: C Diff: 3 Learning Obj: 10-1 Understand the factors an entrepreneur should consider before launching into e-commerce. AACSB: Analytical Thinking 1 Answer: C Diff: 3 Learning

19 Answer: C Diff: 1 Learning Obj: 10-3 Explain the basic strategies entrepreneurs should follow to achieve success in their e-commerce efforts. AACSB: Ethical Understanding and Reasoning 19 Answer: C Diff: 1 Learning Obj: 10-3 Explain the basic strategies entrepreneurs should follow to achieve success in their e-commerce efforts. AACSB:

1 Answer: B Diff: 2 Learning Obj: 11-1 Discuss the relationships among pricing, image, competition, and value. AACSB: Analytical Thinking 1 Answer: B Diff: 2 Learning Obj: 11-1 Discuss the relationships among pricing, image, competition, and value. AACSB: Analytical Thinking 1 Answer: B Diff: 2 Learning Obj: 11-1 Discuss the

16 Answer: TRUE Diff: 2 Learning Obj: 11-2 Describe effective pricing techniques for introducing new products or services and for existing ones. AACSB: Analytical Thinking 16 Answer: TRUE Diff: 2 Learning Obj: 11-2 Describe effective pricing techniques for introducing new products or services and for existing ones. AACSB: Analytical Thinking

1 Answer: A Diff: 2 Learning Obj: 12-1 Describe how to prepare the basic financial statements and use them to manage a small business. AACSB: Analytical Thinking 1 Answer: A Diff: 2 Learning Obj: 12-1 Describe how to prepare the basic financial statements and use them to manage a small

21 Answer: B Diff: 1 Learning Obj: 12-3 Understand the basic financial statements through ratio analysis. AACSB: Analytical Thinking 21 Answer: B Diff: 1 Learning Obj: 12-3 Understand the basic financial statements through ratio analysis. AACSB: Analytical Thinking 21 Answer: B Diff: 1 Learning Obj: 12-3 Understand the basic financial

36 Copyright 2019 Pearson Education, Inc. Copyright 2019 Pearson Education, Inc. Copyright 2019 Pearson Education, Inc. Mini-Case 12-2: Bowden Brake Service (Part B) One day while you are in Bowden Brake Service getting your brakes repaired, Jim storms into his office, slamming doors and shouting about the local financial

1 Answer: D Diff: 2 Learning Obj: 13-1 Explain the importance of cash management to a small company's success. AACSB: Analytical Thinking 1 Answer: D Diff: 2 Learning Obj: 13-1 Explain the importance of cash management to a small company's success. AACSB: Analytical Thinking 1 Answer: D Diff: 2 Learning

21 Answer: TRUE Diff: 2 Learning Obj: 13-4 Describe fundamental principles involved in managing the "big three" of cash management: accounts receivable, accounts payable, and inventory. AACSB: Analytical Thinking 21 Answer: TRUE Diff: 2 Learning Obj: 13-4 Describe fundamental principles involved in managing the "big three" of cash management: accounts

1 Answer: D Diff: 1 Learning Obj: 14-1 Explain the stages in the location decision: choosing the region, the state, the city, and the specific site. AACSB: Analytical Thinking 1 Answer: D Diff: 1 Learning Obj: 14-1 Explain the stages in the location decision: choosing the region, the state, the

19 Answer: C Diff: 2 Learning Obj: 14-2 Describe the location criteria for retail and service businesses. AACSB: Analytical Thinking 19 Answer: C Diff: 2 Learning Obj: 14-2 Describe the location criteria for retail and service businesses. AACSB: Analytical Thinking 19 Answer: C Diff: 2 Learning Obj: 14-2 Describe the

1 Answer: D Diff: 1 Learning Obj: 15-1 Describe the differences between equity capital and debt capital. AACSB: Analytical Thinking 1 Answer: D Diff: 1 Learning Obj: 15-1 Describe the differences between equity capital and debt capital. AACSB: Analytical Thinking 1 Answer: D Diff: 1 Learning Obj: 15-1 Describe the

16 Answer: D Diff: 3 Learning Obj: 15-3 Describe the process of "going public." AACSB: Analytical Thinking 16 Answer: D Diff: 3 Learning Obj: 15-3 Describe the process of "going public." AACSB: Analytical Thinking 16 Answer: D Diff: 3 Learning Obj: 15-3 Describe the process of "going public." AACSB: Analytical

1 Answer: B Diff: 1 Learning Obj: 16-1 Explain why "going global" has become an integral part of many small companies' marketing strategies. AACSB: Reflective Thinking 1 Answer: B Diff: 1 Learning Obj: 16-1 Explain why "going global" has become an integral part of many small companies' marketing strategies. AACSB:

19 Answer: 1. Export Management Companies (EMCs) EMCs are merchant intermediaries that provide small businesses with a low-cost, efficient, independent international marketing department. Their focus is on exporting, and they typically do not handle competing firms. 2. Export Trading Companies (ETCs) ETCs are businesses that buy and sell products in

1 Answer: C Diff: 2 Learning Obj: 17-1 Explain the challenges involved in the entrepreneur's role as leader and what it takes to be a successful leader. AACSB: Reflective Thinking 1 Answer: C Diff: 2 Learning Obj: 17-1 Explain the challenges involved in the entrepreneur's role as leader and what

19 Answer: The guidelines for developing interview questions include: Develop a series of core questions and ask them of every candidate. Ask open-ended questions (including on-the-job scenarios) rather than questions calling for yes or no answers. Create hypothetical situations candidates would be likely to encounter on the job and ask