To transfer ownership in a corporation, it is only necessary to transfer shares of stock.
The approach called spending as much as the competition does can lead the firm to
copy the mistakes of rival firms, as well as their successes.
Death of a key executive can be very detrimental to a small firm because, in addition to
valuable experience and skill, the key executive may have specialized knowledge that is
vital to the successful operation of the firm.
The U.S. Department of Commerce publishes A Guide to Exporting, which outlines
some of the important questions entrepreneurs should consider when deciding whether
a firm is ready for the challenges of global business.
A refugee is a person who tried entrepreneurship, failed, and sought refuge in corporate
employment.
A business plan should describe where you are, where you want to go, and how you
plan to get there.
An entrepreneur who starts his or her own business, rather than buying an existing
business, avoids the undesirable precedents, policies, procedures, and legal
commitments of the existing firm.
Research has always shown that socially responsible practices have a negative impact
on profits.
One of the benefits of extending credit to borrowers is that doing so provides better
records of purchases on credit billing statements.
Discuss the concept of a balanced management team.
Regardless of the type of business, the consumer-oriented marketing philosophy is the
best choice among the competing alternatives.
Discuss the working-capital cycle of a small business.
What conditions call for the use of a line-and-staff form of organization? Explain the
relationship of this form to the principle of unity of command.
The potential value of any franchise arrangement is defined by the rights outlined in the
franchise contract.
Batch manufacturing is another name for repetitive manufacturing.
The greatest time saver is the effective use of time.
The technical nature of the Internet makes e-commerce too expensive for small firms.
Business plans should be prepared so that they are attractive in appearance and well
organized.
Because of close management, small business owners are less vulnerable to business
swindles than are their large firm counterparts.
Distribution includes both the physical movement of products and the establishment of
intermediary relationships to guide and support the movement of products.