Interviewers should avoid asking job candidates questions based on hypothetical
on-the-job scenarios and how the candidate would handle them because the Equal
Employment Opportunity Commission considers such questions to be illegal.
The objectives of cash management are to adequately meet the cash demands of the
business, to avoid retaining unnecessarily large cash balances, and to stretch the
profit-generating power of each dollar the business owns.
There is no limit to the number of general partners a partnership may have, but it must
have at least one general partner.
A small firm’s minimum cash balance should be two times its average weekly sales.
A regional shopping mall serves a large trading area (10 to 15 miles or more), contains
from 50 to 100 stores, and draws customers from a population that lives within 20 to 40
minutes driving time.
Customer experience management (CEM) is the process of systematically creating the
optimum experience for their customers every time they interact with the company.
Corporate downsizing has spawned a generation of entrepreneurs known as “corporate
castoffs.”
A method of increasing customer loyalty and establishing better relationships is to
develop a community of customers with similar interests who can use chat rooms,
message boards, guest books, etc.
A quota is a limit on the amount of certain products imported into a country, while an
embargo is a total ban on imports of certain products.
Bartering (exchanging goods and services for other goods and services) is an effective
way for small business owners to conserve cash.
The Internet allows creative small business owners to make their companies look as big
as their larger rivals.
A situational interview gives the candidate a typical job-related situation to see how
they respond.
Lack of export financing remains a significant barrier to small businesses selling in
foreign markets.