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Chapter 6 Critical Thinking Exercises
1. Match the small business manager to the entry path.
a. Elva just opened a Subway Sandwich Shop. Franchise.
b. Tahir was hired to run Alligator Music. Franchise.
c. Doug took over Klingman Painting when his father finally retired. Buyout.
d. Betty is proud of the barbershop she founded. Start-up.
e. Victor doesn’t want to think of how he scraped up the money, but he is now the
new owner of a locksmith service. Start-Up business.
2. Which of the different tools recommended to make a small business more successful
has Duane used?
Duane uses a number of different good business practices to make his overall business more
successful. Firstly, good customer service/attention to needs of customers. He also has previous work
experience, both from university and on-the-job training. He wrote out a business plan, which kept his
budget and helped him secure money to get going. He also was smart to check out the demographics
of his customer base, and he also interacted with people to get an idea and feedback on his services.
3. Denise received a modest inheritance from a great aunt and wants to use it to buy a
