SMALL BUSINESS MANAGEMENT AND PLANNING QUIZ 1

What is the most important aspect of a business manager

• leadership

• creativity

• originality

• careness

Is it smart to hire a business manager for a small business

• yes, its worth it to see if you can make a good business

• no, that's a lot money for something not promised

What is the job of a business manager

• oversee the activities of workers

• ensure that a company or department is on track to meet its financial goals

• hire, train and evaluate new employees

• All of the above

What is important about managing a business

• You are the leader

• People will you judge how you do

• People will be looking up to you for leadership

• Its a job

A type of business that sells products directly to consumers.

• retail business

• e-commerce business

• service business

• e-marketing business

Before a business owner completes the business plan, he or she should ask business experts to review the plan.

• True

• False

A(n) ____ is an invention or creation that is brand new.

• Initiative

• Improvement

• Innovation

• Advancement

A _____ business should locate in an area with access to raw materials and transportation systems

• Retail

• Manufacturing

• service

• wholesale

Which of the following is not a common reason for the failure of small businesses?

• A lack of sufficient start-up money

• Shortage of skilled workers

• lack of management experience

• failure to manage credit offered to customers

Many small businesses have an advantage over larger businesses because they are better able to _____

• Provide unique services to customers

• Market their products

• Raise large amounts of financial capital

• Mass produce products