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978-1305405745 Chapter 1
Chapter 1: The Entrepreneurial Life license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 1- 1 © 2017 Cengage Learning. All rights reserved. May not be copied, scanned, or duplicated, in whole […]
978-1305405745 Chapter 10
Chapter 10: Understanding A Firm’s Financial Statements CHAPTER 10: UNDERSTANDING A FIRM’S FINANCIAL STATEMENTS CHAPTER OUTLINE Spotlight: J&S Construction Company (http://www.jsconstruction.com) The Lemonade Kids Financial statement (accounting statements) – reports of a firm’s financial performance and resources, including an income […]
978-1305405745 Chapter 11
Chapter 11: Forecasting Financial Requirements CHAPTER 11: FORECASTING FINANCIAL REQUIREMENTS CHAPTER OUTLINE Spotlight: GSM Nation: The Need to Manage Growth (http://www.gsmnation.com) 1) The Purpose of Financial Forecasting LO1: Describe the purpose of financial forecasting. a) Purpose of pro forma financial […]
978-1305405745 Chapter 12
Chapter 12: A Firm’s Sources of Financing CHAPTER 12: A FIRM’S SOURCES OF FINANCING CHAPTER OUTLINE Spotlight: Emmy’s Organics (http://emmyorganics.com) 1) Firm Characteristics and Sources of Financing LO1: Describe how a firm’s characteristics affect its available financing sources. i) Four […]
978-1305405745 Chapter 13
Chapter 13: Planning For The Harvest CHAPTER 13: PLANNING FOR THE HARVEST CHAPTER OUTLINE Spotlight: Tapestry Medical (https://www.facebook.com/pages/Tapestry-Medical-Inc/134797156571373) 1) The Importance of the Harvest LO1: Explain the importance of having a harvest, or exit, plan. i) Harvesting, also called exiting […]
978-1305405745 Chapter 14
Chapter 14: Building Customer Relationships CHAPTER 14: BUILDING CUSTOMER RELATIONSHIPS CHAPTER OUTLINE Spotlight: The Cut and Color Room (http://www.cutandcolorroom.com) 1) What Is Customer Relationship Management? LO1: Define customer relationship management (CRM) and explain its value to small business. i) Customer […]
978-1305405745 Chapter 15
Chapter 15: Product Development and Supply Chain Management CHAPTER 15: PRODUCT DEVELOPMENT AND SUPPLY CHAIN MANAGEMENT CHAPTER OUTLINE Spotlight: Nest Labs (http://www.nest.net) 1) To Grow or Not to Grow LO1: Recognize the challenges associated with the growth of a small […]
978-1305405745 Chapter 16
Chapter 16: Pricing and Credit Decisions CHAPTER 16: PRICING AND CREDIT DECISIONS CHAPTER OUTLINE Spotlight: Johnny Cupcakes: It’s a Brand, Not a Fad! (http://www.johnnycupcakes.com) 1) Setting a Price LO1: Discuss the role of cost and demand factors in setting a […]
978-1305405745 Chapter 17
Chapter 17: Promotional Planning CHAPTER 17: PROMOTIONAL PLANNING CHAPTER OUTLINE Spotlight: Telesian Technology, Inc. (http://www.telesian.com) 1) Promotion Is Communication LO1: Describe the communication model and the factors that determine a promotional mix. i) Marketing communications that inform and persuade consumers […]
978-1305405745 Chapter 18
Chapter 18: Global Opportunities for Small Business CHAPTER 18: GLOBAL OPPORTUNITIES FOR SMALL BUSINESS CHAPTER OUTLINE Spotlight: Combat Flip Flops in Afghanistan (http://www.combatflipflops.com) 1) Small Businesses as Global Enterprises LO1: Describe the potential of small firms as global enterprises. i) […]
978-1305405745 Chapter 19
Chapter 19: Professional Management and the Small Business CHAPTER 19: PROFESSIONAL MANAGEMENT AND THE SMALL BUSINESS CHAPTER OUTLINE Spotlight: Effective Delegation at Staff.com (http://www.staff.com) 1) Small Business Leadership LO1: Understand the entrepreneur’s leadership role. a) What Is Leadership? i) Others […]
978-1305405745 Chapter 2
Chapter 2: Integrity, Ethics, and Social Enterpreneurship license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2-1 © 2017 Cengage Learning. All rights reserved. May not be copied, scanned, or duplicated, in […]
978-1305405745 Chapter 20
Chapter 20: Managing Human Resources CHAPTER 20: MANAGING HUMAN RESOURCES CHAPTER OUTLINE Spotlight: Hired.com (http://www.hired.com) Human resource management (HRM) refers to the management of employees, individually and collectively, in a way that enables them to help the business reach its […]
978-1305405745 Chapter 21
Chapter 21: Managing Small Business Operations CHAPTER 21: MANAGING SMALL BUSINESS OPERATIONS CHAPTER OUTLINE Spotlight: Big Shot Bikes (http://www.bigshotbikes.com) 1) Competing with Operations LO1: Understand how operations enhance a small company’s competitiveness. i) Operations – the processes used to create […]
978-1305405745 Chapter 22
Chapter 22: Managing The Firm’s Assets CHAPTER 22: MANAGING THE FIRM’S ASSETS CHAPTER OUTLINE Spotlight: The Cutting Edge Elite (http://www.ceenyc.com) 1) The Working Capital Cycle LO1: Describe the working capital cycle of a small business. i) Working-capital cycle includes a […]
978-1305405745 Chapter 23
Chapter 23: Managing Risk in the Small Business CHAPTER 23: MANAGING RISK CHAPTER OUTLINE Spotlight: Homestead Interior Doors (http://www.door.cc.) 1) What Is Business Risk? LO1: Define business risk and explain its two dimensions. i) Business risk is the possibility of […]
978-1305405745 Chapter 3
Chapter 3: Starting a Small Business CHAPTER 3: STARTING A SMALL BUSINESS CHAPTER OUTLINE Spotlight: SwipeSense (http://www.swipesense.com) 1) Developing Startup Ideas LO1: Distinguish among the different types of sources of startup ideas a) Types of Startup Ideas- Exhibit 3-1 Types […]
978-1305405745 Chapter 4
Chapter 4: Franchises and Buyouts © 2017 Cengage Learning. All rights reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or […]
978-1305405745 Chapter 5
Chapter 5: The Family Business Chapter 5: The Family Business CHAPTER OUTLINE Spotlight: C.F. Martin & Co. (http://www.martinguitar.com) 1) What Is a Family Business? LO1: Define the terms family and family business. i) Family – A group of people bound […]
978-1305405745 Chapter 6
Chapter 6 : The Business Plan: Visualizing the Dream CHAPTER 6: THE BUSINESS PLAN: VISUALIZING THE DREAM CHAPTER OUTLINE Spotlight: Maternova (http://www.maternova.net) 1) An Overview of the Business Plan LO1: Explain the purpose and objectives of business plans. i) Business […]
978-1305405745 Chapter 7
Chapter 7: The Marketing Plan CHAPTER 7: THE MARKETING PLAN CHAPTER OUTLINE Spotlight: Checkerboard Ltd.: Building a Bigger Share of a Shrinking Market (http://swww.checkernet.com) 1) What Is Small Business Marketing LO1: Describe small business marketing. i) Small business Marketing – […]
978-1305405745 Chapter 8
Chapter 8: The Organizational Plan: Teams, Structures, Alliances, and Directors CHAPTER 8: THE ORGANIZATIONAL PLAN: TEAMS, STRUCTURES, ALLIANCES, AND DIRECTORS CHAPTER OUTLINE Spotlight: FlexPro, uBreakiFix, and GreenCupboards (http://www.flexprogroup.com) (http://ubreakifix.com) (http://greencupboards.com) 1) Building a Management Team LO1: Describe the characteristics and […]
978-1305405745 Chapter 9
Chapter 9: The Location Plan CHAPTER 9: THE LOCATION PLAN CHAPTER OUTLINE Spotlight: The Icebreakers (www.icebreaker-sf.com) 1) Locating the Brick-and-Mortar Startup LO1: Describe the five key factors in locating a brick-and-mortar startup. a) The Importance of the Location Decision i) […]
978-1305405745 Test Bank Chapter 1
Name: Class: Date: chapter 1 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. Successful entrepreneurs should be aware of their strengths and weaknesses and be willing to strive toward goals. a. […]
978-1305405745 Test Bank Chapter 10 Part 1
Name: Class: Date: chapter 10 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. The income statement shows a firm’s financial position on a specific date. a. True b. False 2. In […]
978-1305405745 Test Bank Chapter 10 Part 2
Name: Class: Date: chapter 10 Copyright Cengage Learning. Powered by Cognero. Page 12 Match the term with its definition. a. Accrual-basis accounting b. Cash-basis accounting c. Current ratio d. Financial statements e. Liquidity f. Operating profit margin g. Return on […]
978-1305405745 Test Bank Chapter 11
Name: Class: Date: chapter 11 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. Financial forecasts are required by lenders since they will want to know how they will be paid back; […]
978-1305405745 Test Bank Chapter 12 Part 1
Name: Class: Date: chapter 12 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. Both wholesalers and equipment manufacturers/suppliers can be used as sources of funds. a. True b. False 2. Use […]
978-1305405745 Test Bank Chapter 12 Part 2
Name: Class: Date: chapter 12 Copyright Cengage Learning. Powered by Cognero. Page 14 a. her return on assets will be less if she uses debt financing. b. using other people’s money to finance one’s business is seldom a good idea. […]
978-1305405745 Test Bank Chapter 13
Name: Class: Date: chapter 13 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. The opportunity to exit a business is triggered by an interested seller. a. True b. False 2. With […]
978-1305405745 Test Bank Chapter 14
Name: Class: Date: chapter 14 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. Regardless of the nature of the business, small firms can gain a competitive edge by providing exceptional customer […]
978-1305405745 Test Bank Chapter 15 Part 1
Name: Class: Date: chapter 15 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. Trademarks and service marks are legal terms indicating the exclusive right to use a brand. a. True b. […]
978-1305405745 Test Bank Chapter 15 Part 2
Name: Class: Date: chapter 15 Copyright Cengage Learning. Powered by Cognero. Page 12 100. A detailed picture of what happens to a specific product’s sales and profits over time Match the term with its definition. a. Brand b. Brand image […]
978-1305405745 Test Bank Chapter 16 Part 1
Name: Class: Date: chapter 16 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. The Consumer Credit Protection Act requires that the finance charge for credit be stated as an annual percentage […]
978-1305405745 Test Bank Chapter 16 Part 2
Name: Class: Date: chapter 16 Copyright Cengage Learning. Powered by Cognero. Page 12 d. specify what information a customer’s employer can release about him/her. Match the term with its definition. Some terms may not be used. a. Consumer credit b. […]
978-1305405745 Test Bank Chapter 17
Name: Class: Date: chapter 17 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. Social networking is an informal communication method that can be controlled by the company through its website. a. […]
978-1305405745 Test Bank Chapter 18 Part 1
Name: Class: Date: chapter 18 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. A small firm can generate the greatest financial returns using international licensing strategies when these efforts involve the […]
978-1305405745 Test Bank Chapter 18 Part 2
Name: Class: Date: chapter 18 Copyright Cengage Learning. Powered by Cognero. Page 12 91. Which government organization is an excellent source information about analyzing markets, financing and planning strategy? a. TradePort b. Small Business Administration c. Export Assistance Center d. […]
978-1305405745 Test Bank Chapter 19
Name: Class: Date: chapter 19 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. The maximum number of employees who can be supervised effectively by a capable manager is four. a. True […]
978-1305405745 Test Bank Chapter 2
Name: Class: Date: chapter 2 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. To be classified as a social entrepreneurship, a business must have a triple bottom line. a. True b. […]
978-1305405745 Test Bank Chapter 20 Part 1
Name: Class: Date: chapter 20 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. A human resource manager is unnecessary when employees are represented by a union. a. True b. False 2. […]
978-1305405745 Test Bank Chapter 20 Part 2
Name: Class: Date: chapter 20 Copyright Cengage Learning. Powered by Cognero. Page 12 c. Employee benefits d. Flexible benefit programs e. Headhunter f. Management development g. Piecework h. Professional employer organization 97. An arrangement to outsource part of personnel management […]
978-1305405745 Test Bank Chapter 21 Part 1
Name: Class: Date: chapter 21 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. Kaoru Ishikawa contends that 95 percent of the typical company’s quality problems can be solved by using “The […]
978-1305405745 Test Bank Chapter 21 Part 2
Name: Class: Date: chapter 21 Copyright Cengage Learning. Powered by Cognero. Page 13 103. The use of a random, representative portion of products to determine the acceptability of an entire lot 104. An all-encompassing management approach to providing high-quality products […]
978-1305405745 Test Bank Chapter 22 Part 1
Name: Class: Date: chapter 22 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. Net cash flow should be equated with net profit. a. True b. False 2. The disadvantage of accounts […]
978-1305405745 Test Bank Chapter 22 Part 2
Name: Class: Date: chapter 22 Copyright Cengage Learning. Powered by Cognero. Page 12 95. The number of days, on average, that a company holds inventory 96. The management of current assets and current liabilities 97. The number of days, on […]
978-1305405745 Test Bank Chapter 23 Part 1
Name: Class: Date: chapter 23 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. ACV refers to the depreciated value of a property. a. True b. False 2. Funds transfer fraud provides […]
978-1305405745 Test Bank Chapter 23 Part 2
Name: Class: Date: chapter 23 Copyright Cengage Learning. Powered by Cognero. Page 13 102. A provision in a property insurance policy that requires the owner to have insurance for at least 80 percent of what it would cost to rebuild […]
978-1305405745 Test Bank Chapter 3 Part 1
Name: Class: Date: chapter 3 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. When screening new business ideas, the entrepreneur need not focus on the size of the targeted market. a. […]
978-1305405745 Test Bank Chapter 3 Part 2
Name: Class: Date: chapter 3 Copyright Cengage Learning. Powered by Cognero. Page 12 a. increases both the attractiveness and the profitability of the target market. b. decreases both the attractiveness and the profitability of the target market. c. decreases the […]
978-1305405745 Test Bank Chapter 4
Name: Class: Date: chapter 4 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. The processing of a loan application can be completed more quickly if the franchising organization is registered with […]
978-1305405745 Test Bank Chapter 5
Name: Class: Date: chapter 5 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. A critical part of a family firm transfer from one generation to the next is to discuss decisions […]
978-1305405745 Test Bank Chapter 6
Name: Class: Date: chapter 6 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. The executive summary of a business plan presents a firm’s history and its form of organization. a. True […]
978-1305405745 Test Bank Chapter 7 Part 1
Name: Class: Date: chapter 7 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. Because sales forecasts revolve around specific target markets, the market should be defined as precisely as possible. a. […]
978-1305405745 Test Bank Chapter 7 Part 2
Name: Class: Date: chapter 7 Copyright Cengage Learning. Powered by Cognero. Page 12 d. bottom-up method 89. Koldpak has focused principally on the development of revolutionary new ways of containerizing fresh produce for grocery stores. The firm’s marketing philosophy is: […]
978-1305405745 Test Bank Chapter 8 Part 1
Name: Class: Date: chapter 8 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. The board of directors is elected by the stockholders of a corporation. a. True b. False 2. An […]
978-1305405745 Test Bank Chapter 8 Part 2
Name: Class: Date: chapter 8 Copyright Cengage Learning. Powered by Cognero. Page 13 c. the advisory board is required to meet quarterly, not annually. d. the advisory board has no legal authority over the owner or the company. 103. Webster […]
978-1305405745 Test Bank Chapter 9
Name: Class: Date: chapter 9 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. All other factors being equal, retail and services businesses will find little advantage in selecting a location near […]