Components of New-Venture Motivation
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Questions and Answers

What is the primary focus of upside gain and downside loss expectations when creating a new venture?

  • Evaluating the competition in the industry
  • Analyzing the profits and losses the business can make (correct)
  • Determining the market share of the business
  • Developing a marketing strategy for the business

    • What is the main purpose of a risk vs. reward analysis?

  • To identify the market trends and opportunities
  • To determine the break-even point of a business
  • To evaluate the potential returns on investment (correct)
  • To develop a financial plan for the business

    • What is the purpose of Column 2 in the Checklist for Estimating Start-Up Expenses?

  • To estimate the total revenue of the business
  • To estimate the cash needed to start the business (correct)
  • To determine the profit margin of the business
  • To calculate the total expenses of the business

    • What is the basis for estimating the cash needed to start a business, according to the Checklist for Estimating Start-Up Expenses?

    <p>The estimated sales per year</p> Signup and view all the answers

    What is the primary purpose of estimating start-up expenses?

    <p>To determine the cash needed to start the business</p> Signup and view all the answers

    What is the relationship between risk and reward in a business venture?

    <p>The higher the risk, the higher the potential reward</p> Signup and view all the answers

    What is the main characteristic of a franchising arrangement?

    <p>The owner of a trademark, trade name, or copyright licenses others to use it.</p> Signup and view all the answers

    What is the primary role of a franchisor?

    <p>To provide the company name and identifying symbols.</p> Signup and view all the answers

    What is a franchisee?

    <p>A purchaser of a franchise.</p> Signup and view all the answers

    What is not a typical responsibility of a franchisor?

    <p>Operating the day-to-day business of the franchise.</p> Signup and view all the answers

    What is a benefit of franchising for the franchisee?

    <p>Access to professional management training.</p> Signup and view all the answers

    What is not typically provided by the franchisor to the franchisee?

    <p>Financial support for the franchise's operation.</p> Signup and view all the answers

    What is one of the components of new-venture motivation?

    <p>The need for independence</p> Signup and view all the answers

    What is a characteristic of successful start-ups?

    <p>Acting with more intensity</p> Signup and view all the answers

    What is the first phase of new-venture start-ups?

    <p>Prestart-Up Phase</p> Signup and view all the answers

    What is NOT a component of new-venture motivation?

    <p>Fear of failure</p> Signup and view all the answers

    What is a reason for starting a venture?

    <p>Following role models</p> Signup and view all the answers

    What is NOT a characteristic of successful start-ups?

    <p>Acting with less intensity</p> Signup and view all the answers

    Which of the following emerging business opportunities is related to the food industry?

    <p>Healthy food</p> Signup and view all the answers

    According to the table, what is a type of Emerging Internet Opportunity?

    <p>Virtual Economies</p> Signup and view all the answers

    In the Emerging Opportunities table, which category includes 'Solar' and 'Fuel cells'?

    <p>Alternative Energy</p> Signup and view all the answers

    What is a major benefit of acquiring an ongoing venture?

    <p>Reducing the time and effort required to establish a business</p> Signup and view all the answers

    Which emerging business opportunity is related to the entertainment industry?

    <p>Home Automation</p> Signup and view all the answers

    What is a type of Niche Consumable mentioned in the table?

    <p>Wine</p> Signup and view all the answers

    What is a factor that may influence the sale of a venture?

    <p>Fair market value of the business</p> Signup and view all the answers

    What is an advantage of buying an existing business?

    <p>The existence of suppliers, bankers, and accountants</p> Signup and view all the answers

    In the Emerging Opportunities table, which category includes 'Pet owners' and 'Dating groups'?

    <p>Niche Social Networks</p> Signup and view all the answers

    What is a key advantage of acquiring an ongoing venture over starting a new one?

    <p>Reduced fear about future operation</p> Signup and view all the answers

    What is a factor that may affect the sale price of a venture?

    <p>The owner's desire to sell quickly</p> Signup and view all the answers

    What is an important consideration when evaluating a venture for acquisition?

    <p>The venture's assets and profits</p> Signup and view all the answers

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