Entrepreneurial Solving Final Exam Study Guide
1. A brick-and-mortar store is actually a general term that refers to a retail outlet dealing in
building supplies.
2. The choice of a location for a physical facility is rarely a one-time decision.
3. While one of the six key factors in determining a good location may carry more weight for a
particular business and its unique situation, each factor should always have some influence on
the final location decision.
4. Most state and city governments go to great lengths to support startups.
5. Customer accessibility is vital in industries in which the cost of shipping the finished product is
high relative to the product's value.
6. Match the term with its definition.
a. Double taxation
b. Private equity recapitalization
c. Build-up LBO
d. Opportunity cost of funds
e. Harvesting
f. Bust-up LBO
g. Seller financing
h. Management buyout
i. Business broker
j. Initial public offering
k. Employee Stock Ownership Plan
7. Jacob has worked for the past five years to build his business but wants to travel more, so he is
thinking it is time to harvest. Harvesting refers to
8. The availability of a company’s exit options is an important determinant of the appeal of the
firm to
9. Jack is a professional who assists in the buying and selling of businesses. Jack is:
10. Sylvia, the owner of a clothing boutique, has agreed to sell her business to one of her buyers.
This transaction would likely be described as a sale to a(n) _____ buyer.
11. Match the term with its definition.
a. Personal Selling
b. Promotion
c. Blog
d. Publicity
e. Advertising
f. Prospecting
g. Social Media
h. Product Advertising
i. Institutional Advertising
12. Match the term with its definition
a. Customer segmentation strategy
b. Recency-frequency-monetary analysis
c. Touch point
d. Evaluative criteria
e. Perception
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f. Customer database
g. 80/20 Principle
h. Evoked set
i. Post-purchase dissonance
j. Transactional relationship
Economic benefits associated with maintaining relationships with current customers include:
CRM is the business version of
Most customer service problems are identified by
Match the term with its definition. Some terms may not be used.
a. Mobile device
b. App
c. Quick response (QR) code
d. Social media
e. Hyperlink
f. Sales promotion
g. E-mail promotion
h. Promotional mix
i. Social networking
Match the term with its definition. Some terms may not be used.
A widely dispersed market favors which promotional method?
Promotional funds are determined according to past experience in which of the following
methods?
A widely used piecemeal approach to determining the level of promotional expenditures is
Match the term with its definition. Some terms may not be used.
a. Chain of command
b. Long-range plan
c. Budget
d. Empowerment
e. Short-range plan
f. Self-managed work teams
g. Delegation of authority
Match the term with its definition. Some terms may not be used.
a. Networking
b. Professional manager
c. Negotiation
d. Service Corps of Retired Executives
e. Line-and-staff organization
f. Span of control
g. Line organization
Leadership roles differ greatly, depending on the size of the business and its
What type of leadership style focuses on creating emotional bonds?
Barry’s expectation that employees will complete his requests immediately is typical of ______
leaders.
One of the largest expense categories for most businesses is
27. Tom is experiencing difficulty in recruiting competent technicians for his business. One way to
increase the attractiveness of his small business is by using
28. Since Cynthia needs to obtain a replacement for Olivia (who is having a baby and will be out for
12 weeks), what would be the expected first choice to locate a replacement?
29. The U.S. Department of Labor projects which trend in workforce composition?
30. Prospective employers can legally select employees based on the applicant’s