Employees are at the heart of increases in productivity.
Successful entrepreneurs come up with ideas and then find ways to make them work to
solve a problem or fill a need.
Generally, an industry is more attractive when the opportunity to sell a differentiated
product or service is absent.
Examples of some benefits franchise systems offer include management training, brand
appeal, standardization of goods and services, national advertising, proven business
formats, centralized buying power, and site selection assistance.
A venture must produce an attractive rate of return relative to the level of risk it
requires.
Cash is the most important, yet least productive, asset a small business owns.
The typical entrepreneurial philosophy for implementation is “Ready, aim, aim, aim€¦”
Right-brained individuals tend to challenge tradition, custom, and routine.
Private investors look to earn the return on their investments in a business through the
increased value of the business, not through dividends and interest.
Efficient cash managers set up a payment calendar each month, which allows them to
pay their bills on time and to take advantage of cash discounts for early payment.
Capital is any form of wealth employed to produce more wealth.
Small business owners generally should not take advantage of cash discounts vendors
offer, choosing instead to maintain control of their cash for as long as possible.
The failure rate for franchises is below that for other types of new businesses.
For cash planning purposes, it is better to underestimate cash disbursements than to
overestimate them.
When bargaining power of buyers is ________, the industry is ________ attractive.
A) moderate; less
B) low; more
C) high; more
D) low; less