Management Chapter 6 7 Good Business Plan Will Focus The

275. A good business plan will:

276. The executive summary section of the business plan contains:

277. When seeking financial backing from a venture capitalist, a small business owner should

realize that the venture capitalist will:

278. A market consists of potential buyers of a good or service. However, for a market to

exist:

279. Small business employees:

280. Entrepreneurs learn that there are many legal and financial issues involved in starting

their business. The best way for the small business owner to resolve these issues and protect the

firm’s resources is:

281. Which of the following is

not

a recommended source of small business advice for persons

contemplating a new business?

282. In order to finance The Shortbread Shack, a mobile bakery business that services several

large Silicon Valley companies, Marcy demonstrated her steadfast desire to get her bakery off the

ground by visiting several bankers with ___________.

283. In order to improve his chances of small business success, Demitri prepared a business

plan. Most often, a positive outcome of this exercise is:

284. After several years of volunteering to play the piano and sing at a local nursing home,

Callie decided the time was right to tap into the growing elder care market. She started Music

and Memories, Inc., a nonprofit corporation that would hire local talent to perform her own music

productions directed toward this market. In order to write and produce several productions each

year, Callie needed start-up funds. An instructor at the local community college suggested that

she begin by ____________, because this effort would help introduce her idea to interested

investors as well as suggest government grant applications that Callie might pursue.

285. As a high net worth individual, Allison searches for growth firms in need of additional

funding to achieve their goals. In return for this __________, Allison expects to assume ownership

in the business.

286. Chris is an angel investor. This means that he:

287. Christine recently applied for a microloan from the SBA. Although several criteria are

important, the Small Business Administration’s decision to grant or deny the loan will largely

depend upon:

288. Nigel came to the U.S. on a swimming scholarship. After a few months of frustration with

trying to find swim goggles like he used in his native country, he started a website that offered

specialty goggles for swimming, skiing, and snowboarding. Before launching the website and

filling orders, Nigel spent a few months going to swim meets and gathering preferences about

goggles from other swimmers. Nigel’s actions:

289. Ben got a phone call from one of his regular customers asking if he had time to repair a

couple of broken sprinkler heads on the customer’s underground sprinkling system. Although it

was already 6:00 p.m. and Ben had put in a full day of work, he turned his car around and headed

for the customer’s house. As a small business owner, Ben demonstrates:

290. Ameet’s three employees have been with him since he started Employment Recruiters,

Inc., nearly 10 years ago. As he contemplates the staffing for his new branch office, he senses

that none of these three are ready to manage the office. Faced with this difficult situation, he

should:

291. After Kate graduated from college, her grandfather created a bookkeeping position for her

in his furniture retail business. Her older brother is in charge of purchasing inventory for the

store, yet often the store runs out of popular furniture or becomes overstocked with pieces that

must be marked down to be sold. Kate is confident that her brother is more suited for handling

accounting and finance, while she has a sense of what sells and how much sells. Although she

has spoken with her grandfather about it a couple of times, he seems reluctant to change. As the

founder of the business, he may:

292. As a small business owner, Tanika can’t afford to provide her employees with the high

wages and benefits offered by big corporations. One way to retain her employees and create a

high level of motivation would be to:

293. After retiring as a telecommunications executive, Chad joined SCORE. As a SCORE

counselor Chad will:

294. The size of the world market is about:

295. Increased participation in small business exporting owes credit to _______.

296. One of the hurdles small businesses face when deciding to export is:

297. One reason why many U.S. small businesses are not involved in exporting is:

298. The SBA’s ________ program provides export-financing opportunities for small

businesses.

299. Which of the following best describes the outlook for small businesses in international

markets?