300. Small businesses often have advantages in international markets. One advantage is:
301. Labels Plus, LLC, exports specialty printing equipment for the labeling, flexible
packaging, and carton industry. Due to increased support from ______, this company’s sales to
Brazilian companies and other global opportunities have significantly increased.
302. Jake wants to sell his workout DVDs in the European, Asian, and Latin American markets.
_______________ will help him reach vendors abroad, without the expense of traveling to meet
them face-to-face.
303. Luis is a partner in a firm that specializes in producing vitamins and health food products.
While the business is considered small by U.S. standards, he is attempting to persuade his
partner to expand internationally. Luis would list which of the following as an advantage of going
global?
304. Antoine is considering marketing his bicycles in Brazil. If he enters the Brazilian market,
he is likely to learn that __________.
Mini-Case
Peppy Roaney believes that pizza is a much more versatile dish than most people realize. As the
national marketing manager for Pizza Guys, he observed how consumers were delighted with
barbecue pizza, Hawaiian pizza, Mexican pizza and other unique combinations. His suggestions
for other unusual pizzas, however, were met with a negative response by his superiors. Even
some of his colleagues laughed at his ideas. Peppy’s confidence in his ability to understand the
market has led him to focus on planning a business of his own. Peppy realizes that he will take a
risk when he leaves his job with Pizza Guys and embarks upon a new venture: Peppy’s
Pizzazzeria. Peppy is excited about the potential of profitably catering to the unmet desires of
pizza consumers.
305. Given Peppy’s willingness to accept the risks of opening and running Peppy’s Pizzazzeria,
he is clearly an example of a(n):
306. Peppy remains confident and enthusiastic even though his colleagues have poked fun at
his ideas. This shows that Peppy is:
307. Peppy is confident that Peppy’s Pizzazzeria will be a success, but only if he has enough
money to do things right. Since Peppy has very little personal wealth, he knows he must obtain
financial assistance. In order prepare for meetings with bankers and potential investors, Peppy
should:
308. Peppy has inquired about the possibility of obtaining a microloan from the SBA. This type
of loan is awarded primarily on the basis of the:
309. Peppy knows a lot about marketing, but not much about the legal or financial aspects of
starting a new business. He wants to consult with a lawyer and accountant, but his budget is
tight with all of the expenses involved in getting Peppy’s Pizzazzeria up and running. Peppy
should:
310. Due to the fact that Peppy has worked in the field of marketing for a large corporation:
311. As a former classmate of Peppy’s at the nearby university, you remind him what you both
learned in your small business management class several years ago:
312. Not everyone dreams of owning their own business. Identify and describe at least three
attributes of successful entrepreneurs.
313. What is an entrepreneurial team? What benefits does a team offer compared to an
individual entrepreneur?
314. List and discuss at least three causes of small business failure.
315. Discuss the benefits exporting offers to small businesses. Given these benefits, why don’t
more small firms sell in international markets?
316. Discuss several ways the Small Business Administration assists entrepreneurs.