Podcast
Questions and Answers
What is the formal process of identifying opportunities and threats in a business environment called?
What is the formal process of identifying opportunities and threats in a business environment called?
- Succession planning
- Valuation
- Entrepreneurship
- Environmental scanning (correct)
Why is buying an existing business considered a viable option?
Why is buying an existing business considered a viable option?
- Because many businesses cannot be purchased
- Because it allows the entrepreneur to start from scratch
- Because it is a less profitable venture
- Because many entrepreneurs are looking for an exit strategy (correct)
What is a major concern for many organizations today?
What is a major concern for many organizations today?
- Hiring skilled workers
- Adapting to new technology
- Succession planning (correct)
- Marketing strategies
What is an advantage of buying an existing business?
What is an advantage of buying an existing business?
What is a demographic group looking to retire and pose an opportunity for entrepreneurs?
What is a demographic group looking to retire and pose an opportunity for entrepreneurs?
What is essential when buying an existing business?
What is essential when buying an existing business?
Which of the following is a key aspect of analyzing a company's strategy?
Which of the following is a key aspect of analyzing a company's strategy?
What is the primary purpose of ratio analysis?
What is the primary purpose of ratio analysis?
Which of the following is an example of a stakeholder group that may not be immediately obvious?
Which of the following is an example of a stakeholder group that may not be immediately obvious?
What is the term for a company's set of unique features that are perceived as superior to those of the competition?
What is the term for a company's set of unique features that are perceived as superior to those of the competition?
What is the primary focus of Porter's Five Forces?
What is the primary focus of Porter's Five Forces?
What is a pro forma financial statement?
What is a pro forma financial statement?
Which of the following is NOT one of the five forces that shape competition within an industry?
Which of the following is NOT one of the five forces that shape competition within an industry?
What is the term for a company's distinctive advantage that customers value?
What is the term for a company's distinctive advantage that customers value?
What is the primary benefit of conducting a stakeholder analysis?
What is the primary benefit of conducting a stakeholder analysis?
