Business Pathway Options

Which of the following is NOT listed as a business pathway option in the image?

• Opening a new business

• Buying an existing business

• Entering into a franchise agreement

• Merging with another company

What is described as the ideal pathway for moving from the seed stage to the start-up stage of a business life cycle?

• Developing a detailed business plan

• Opening a new business

• Expanding to new markets

• Merging with another company

What does opening a new business allow the owner to maintain?

• Limited control over financial decisions

• Full control over how the business will be established

• Partial control over marketing strategies

• No control over business operations

Opening a new business is particularly suitable when entering into what type of market?

• A saturated market

• A declining market

• A niche market

• An international market

Who makes all decisions in a new business according to the image?

• The customers

• The employees

• The owner

• The suppliers

What is a necessary step for business owners when opening a new business as mentioned in the image?

• Preparing a feasibility report and business plan

• Hiring a large number of employees

• Expanding immediately to international markets

• Decreasing the product prices

What is one of the advantages of starting a new business according to the image?

• High initial costs

• Can choose location, name, logo, relationships

• Established customer base

• Easy access to financing

Which of the following is a disadvantage of starting a new business?

• Flexibility in exploring new markets

• No base, must build all new

• Not hampered by previous technologies

• Guaranteed success in new markets

What does the lack of a track record in a new business lead to?

• Faster growth

• Difficulty in financing

• Immediate profitability

• Reduced risk

Which of the following is considered an advantage of buying an existing business?

• Higher debt service

• Employee defection

• Cash flow & good will

• Poor training/support by the former owner