Answer 25 question related with Small Business Mangemnt remember to include the complete question with your answer for each question. Thank you.
2. What is a franchise?
3. What makes franchising different from other forms of business? Be specific.
4. A ____________________ ___________________ gives a startup or small business the upper hand by allowing it to provide products or services that customer will choose over available alternatives.
5. Identify and describe at least four of the key terms in franchising.
6. How are family businesses different from nonfamily businesses? In what ways are they the same?
7. What advantages result from involvement in a business? What are some disadvantages?
8. What is a SWOT analysis? Why is it important to conduct this analysis?
9. What are some drawbacks to pursuing a focus strategy?
10. A _____________ ________________is a circumstance or development that alone could render a new business unsuccessful.
11. What are some of the nonquantitative factors in valuing a business?
12. __________________ is the practice of employing relatives.
13. List and discuss the 5 fears of commitment.
14. What are co-preneurs?
15. If you start a venture and expect some of your family members to join you, what rules do you think you should write down in advance?
16. Should a son or daughter feel an obligation to carry on a family business? What might happen if that prospective successor chooses not to join that business?
17. Name and describe the major features of feasibility analysis. Why is feasibility analysis important?
18. List the six most important trends of the general environment. What are some ways in which each trend might affect a small business?
19. What are the two basic strategy options for creating a competitive advantage?
20. How can a SWOT analysis help the entrepreneur match opportunities in the external environment with organizational capabilities?
21. Evaluate loss of control as a disadvantage of franchising from the franchisors perspective.
22. What are some possible reasons for buying an existing company as opposed to starting a new business from scratch?
23. Should franchise information provided by a franchisor be discounted? Why or why not?
24. What is the difference between product and trade name franchising and business format franchising?
25. What are some common reasons that cause owners to offer their businesses for sale? Which of these reasons might a buyer consider to be negative?
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