MGT 808 Homework

subject Type Homework Help
subject Pages 4
subject Words 428
subject Authors Jeffrey R. Cornwall, Norman M. Scarborough

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One study conducted by the Global Entrepreneurship Monitor (GEM) reports that
nearly one in eight people in the United States is working to start a business.
Companies lose billions of dollars each year due to employee theft.
Most business owners should avoid leasing as a cash management strategy because it
requires large capital outlays as down payments, and total lease payments typically are
greater than those for conventional loans.
Leader pricing is a technique in which a small company marks down the price of a
popular item below its normal price in an attempt to increase customer traffic and to
boost sales of other items.
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A business model is an original, functional model of a new product that entrepreneurs
can put into the hands of potential customers so that they can see it, test it, and use it.
The Web typically lacks the ability to lower the cost of doing business.
A prospective buyer should have an attorney thoroughly investigate all of the assets for
sale in a business and their lien status before buying any business.
Unlike venture capital firms and most other institutional investors, angels typically
invest in businesses in their earliest phases, providing the seed capital needed to get the
business going.
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Proximity to needed raw materials is critically important for a service firm.
A company's culture can serve either to support or undermine its employees' concepts
of what constitutes ethical behavior.
If a company's average payable period ratio is significantly lower than the credit terms
vendors offer, it may be a sign that the company is not using its cash most effectively.
It takes much less money and time to keep existing customers than it does to attract new
ones.
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Markup is the difference between the cost of a product or service and its selling price.
Weaknesses are negative external forces that inhibit the firm's ability to achieve its
mission, goals, and objectives.
Changing demographics create opportunities for entrepreneurs.

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