Question 1

Facilities that rent shared space, services and management only to new businesses are called

Accepted Answer

A)   industrial parks.
B)   community development centers.
C)   shopping centers.
D)   business incubators.E) None of the above
F) B) and D)

Question 2

E-commerce can provide a benefit to small firms by compressing the sales cycle and easing cash flow difficulties.

Accepted Answer

A) True 
 B)False

Question 3

Arthur's business needs a physical building.  Arthur's most important decison will be:

Accepted Answer

A)   where to locate.
B)   how much to spend.
C)   whether to rent or own.
D)   whether to build or purchase an existing structure.E) C) and D)
F) All of the above

Question 4

Jeff's Website Design and Data Storage deals directly with corporate customers online and builds websites and data storage to specifications after an order is placed. By reducing the firm's storage and carrying costs, this example illustrates that B2B firms can create

Accepted Answer

A)   greater efficiency in their operatoins.
B)   greater efficiency in their buying and selling
C)   synergies between buying and selling.
D)   market reach through e-commerce.E) None of the above
F) A) and B)

Question 5

Daisy is planning a clothing manufacturing company. When selecting the location for her production facility, Daisy will want to consider:

Accepted Answer

A)   ease of access to her customers.
B)   ease of access to transportation.
C)   availability of suitable labor.
D)   ease of access to raw materials.E) B) and D)
F) C) and D)

Question 6

For many entrepreneurs, choosing a location for a small business is a one-time decision-made only when the business is first established or purchased.

Accepted Answer

A) True 
 B)False

Question 7

After identifying the five major factors in deciding the location for a business, summarize the impact each factor has if an entrepreneur was opening a restaurant.

Accepted Answer

∙ Entrepreneur's Personal preference . A...

Question 8

Customer accessibility is the most critical factor in evaluating a specific site for a

Accepted Answer

A)   clothing manufacturer.
B)   drugstore.
C)   plumber.
D)   software development company.E) A) and B)
F) A) and C)

Question 9

Purchasing used equipment is acceptable as long its use does not send the wrong message to a customer.

Accepted Answer

A) True 
 B)False

Question 10

An important advantage an entrepreneur gains by leasing rather than buying a facility is

Accepted Answer

A)   receipt of an investment tax credit.
B)   a decrease in investment risk.
C)   a decrease in the amount of promotion required.
D)   a customized layout.E) A) and D)
F) A) and C)

Question 11

If the cost of shipping the finished product is high, the factory should probably be located near a source of raw materials.

Accepted Answer

A) True 
 B)False

Question 12

Amazon.com represents the classic ____ firm.

Accepted Answer

A)   B2B
B)   B2C
C)   C2C
D)   Auction siteE) All of the above
F) A) and B)

Question 13

Sometimes an attorney can insert special clauses into a lease agreement that will allow the lessee to exit the agreement under certain circumstances.

Accepted Answer

A) True 
 B)False

Question 14

Genevieve just completed her residency and is ready to open her medical office.  The image her office should convey is:

Accepted Answer

A)   trendy, minimalist, futristic with bold colors and modern art.
B)   old-fashioned, dark, somber with dark colors and heavy furniture.
C)   solid, trustworthy, confident with neutral colors and comfortable furniture.
D)   light-hearted and whimsical with pastel colors and playful art.E) A) and B)
F) A) and C)

Question 15

Charmaine has never bought anything from an online seller.  Many others feel the same way.  A frequent reason for their reluctance is:

Accepted Answer

A)   they have had a bad online purchase experience in the past.
B)   it is difficult to predict how much time it will take to ship the product.
C)   websites are difficult to navigate.
D)   they are reluctant to purchase a product without first seeing it.E) B) and C)
F) A) and B)

Question 16

Discuss the legal considerations for a home-based business.  What professionals should an entrepreneur talk to before starting the business?

Accepted Answer

First, the zoning laws should be consult...

Question 17

E-commerce refers to

Accepted Answer

A)   B2B models of doing business.
B)   the facilitation of business by making initial contact by electronic means.
C)   the buying and selling of products or services over the Internet
D)   a form of business that involves online trades and auctions.E) A) and D)
F) A) and C)

Question 18

A content-based website provides only the history of an organization along with a physical address and phone numbers.

Accepted Answer

A) True 
 B)False

Question 19

While one of the six key factors in determining a good business location may be more important in a given situation, each factor will always have some influence.

Accepted Answer

A) True 
 B)False

Question 20

Steve started a Web-based business offering a mechanism for buying and selling antiques. He has set up his company using the ____ model.

Accepted Answer

A)   transaction-based
B)   content-based
C)   information-based
D)   premium-basedE) A) and B)
F) None of the above

Exam 9: The Location Plan

For many entrepreneurs, choosing a location for a small business is a one-time decision-made only when the business is first established or purchased.

Correct AnswerverifiedShow Answer

An important advantage an entrepreneur gains by leasing rather than buying a facility is

Correct AnswerverifiedShow Answer

E-commerce refers to

Correct AnswerverifiedShow Answer

While one of the six key factors in determining a good business location may be more important in a given situation, each factor will always have some influence.

Correct AnswerverifiedShow Answer

Discuss the legal considerations for a home-based business. What professionals should an entrepreneur talk to before starting the business?

Correct AnswerverifiedFirst, the zoning laws should be consult...View AnswerShow Answer

Amazon.com represents the classic ____ firm.

Correct AnswerverifiedShow Answer

Genevieve just completed her residency and is ready to open her medical office. The image her office should convey is:

Correct AnswerverifiedShow Answer

Steve started a Web-based business offering a mechanism for buying and selling antiques. He has set up his company using the ____ model.

Correct AnswerverifiedShow Answer

Charmaine has never bought anything from an online seller. Many others feel the same way. A frequent reason for their reluctance is:

Correct AnswerverifiedShow Answer

Daisy is planning a clothing manufacturing company. When selecting the location for her production facility, Daisy will want to consider:

Correct AnswerverifiedShow Answer

Sometimes an attorney can insert special clauses into a lease agreement that will allow the lessee to exit the agreement under certain circumstances.

Correct AnswerverifiedShow Answer

If the cost of shipping the finished product is high, the factory should probably be located near a source of raw materials.

Correct AnswerverifiedShow Answer

Purchasing used equipment is acceptable as long its use does not send the wrong message to a customer.

Correct AnswerverifiedShow Answer

Jeff's Website Design and Data Storage deals directly with corporate customers online and builds websites and data storage to specifications after an order is placed. By reducing the firm's storage and carrying costs, this example illustrates that B2B firms can create

Correct AnswerverifiedShow Answer

After identifying the five major factors in deciding the location for a business, summarize the impact each factor has if an entrepreneur was opening a restaurant.

Correct Answerverified∙ Entrepreneur's Personal preference . A...View AnswerShow Answer

Customer accessibility is the most critical factor in evaluating a specific site for a

Correct AnswerverifiedShow Answer

E-commerce can provide a benefit to small firms by compressing the sales cycle and easing cash flow difficulties.

Correct AnswerverifiedShow Answer

Facilities that rent shared space, services and management only to new businesses are called

Correct AnswerverifiedShow Answer

Arthur's business needs a physical building. Arthur's most important decison will be:

Correct AnswerverifiedShow Answer

A content-based website provides only the history of an organization along with a physical address and phone numbers.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
First, the zoning laws should be consult...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
∙ Entrepreneur's Personal preference . A...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified