What is meant by 'SWOT' in business analysis?

• Severe Weaknesses Overcome Threats

• Strengths, Weaknesses, Opportunities, Threats

• Successful Ways of Overcoming Troubles

• Strategic Ways of Operating Together

What is the important role of financial planning in entrepreneurship?

• Generate business ideas

• Manage employees

• Control expenses

• Manage company finances wisely

What is meant by 'marketing' in the context of entrepreneurship?

• The process of finding investors

• The process of creating products or services

• The process of promoting and selling products or services

• The process of controlling production costs

What is meant by 'venture capital' in entrepreneurship?

• Funding from banks

• Funds obtained from family and friends

• Funding from external investors in the form of shares

• Funding from the government

What is meant by 'pivot' in the context of entrepreneurship?

• Expanding business to international markets

• Stopping business operations

• Changing business strategy drastically based on feedback

• Conducting market research

What is the most important factor in choosing a business location?

• Land price

• High taxes

• Access to target markets and customers

• Natural beauty of the surroundings

What is meant by 'cash' in financial reports?

• Cash available in the business

• Annual profit of the business

• Debts that must be paid

• Business income from product sales

What is meant by 'depreciation' in accounting?

• Increase in asset value

• Decrease in asset value over time

• Net profit

• Increase in product price

What is the role of 'marketing strategy' in business growth?

• Increase production costs

• Increase profit per product

• Increase the number of employees

• Create customer needs and generate sales

What is meant by 'marketing mix' in marketing strategy?

• Combination of all products sold by the company

• Combination of all marketing elements used in product promotion

• Combination of all employees involved in sales

• Combination of all competitors in the market