Exam 3 - Chapter 7-10

By controlling ________, the firm can ensure maximum service to the customer.

Fixed operating expenses include all of the following except:

In a limited partnership, the limited partners:

The organization plan describes the business

As the business grows:

A company has formal structures and an informal structure which evolves over time. The informal structure is a company's

gathering info in order to determine who will buy the product and what is the most appropriate distribution channel

Which of the following is not a common reason why business plans fail?

Which of the following is a pitfall of social media?

Competitor analysis begins with:

identifies potential hazards and alternative strategies to meet business plan goals and objectives.

If the entrepreneur is constantly faced with significant changes in the marketing strategy, then it is likely that:

Which of the following interested parties should not have access to the venture's business plan?

Marketing research begins with:

________ is projected net profit calculated from projected revenue minus projected costs and expenses.

the design decisions involving personnel and their roles and responsibilities reflect the _structure of the organization

When products cannot be easily differentiated:

Business-to-business marketing involves:

The cost benefit analysis considers the cash flows and the value of money over a period of time.

The ________ budget is used to evaluate expenditures that will impact the business for more than one year.

Which type of ownership is the least expensive to start?

The tendency among many entrepreneurs is to:

The management team of a new venture:

For an entrepreneur conducting a self-assesment when starting a buisness plan which skill set would not be considered?

The sales budget:

Which of the following would be considered a variable expense?

In a limited liability partnership (LLP) death or withdrawal of a partner:

The depth and detail of a business plan depend on:

Which of the following documents is not usually included in the Financial Plan?

________ is(are) the major source of revenue.

poor design is a cause for business failure since the entrepreneur often performs all organization functions themselves

The business plan describes both internal and external elements.

Fixed expenses:

The business plan is designed to guide the entrepreneur:

Which type of ownership is the most expensive to start?

Which form of promotion is too expensive for most entrepreneurs to use?

As long as the selling price is greater than the ________ cost per unit, some contribution can be made to cover ________

In establishing goals and objectives, it is important to:

Before beginning any social media strategy, it is necessary to identify the: