WorksheetsBusiness Formation
Total questions: 10
Worksheet time: 5mins
Entrepreneur that decided to start a business from scratch need to make some decision, EXCEPT:
Proper business planning
Suitable location of the business
Register form of business later
Business or trade name
Which one is not advantages of starting a business from scratch?
Higher chances of losses due to high project implementation cost.
Free to make his/her own decisions.
Have the opportunities to try and practice his/her own ideas.
Free to choose suitable business location and premise, and acquiring appropriate machine and equipment for the business.
"The entrepreneurs’ responsibilities to “investigate” the business that they want to buy as well the “background” of the existing owners." This statement refer which type of business formation?
Franchise
Family Business Succession
Cyber Entrepreneurship
Buying an Existing Business
Creating a new venture from buying an existing business required several risks, INCLUDE:
Usually has no track record
Requires bigger amount of capital
Family conflict
Limited freedom
What is the advantage of family business succession?
Early-stage limited financial resources.
Difficulty in getting the right successor.
Entrepreneur already have a good exposure to business environment
Conflicts could arise
There are four level of family business. What is level 3?
Business inception
Business growth
Business maturity
Business transition period
A product and/or service distribution system which is governed by a contract known as:
Franchise
Franchisee
Franchisor
Business
A person who purchases the right from the franchisor to operate the franchise known as:
Franchise
Franchisee
Franchisor
Business
A company which sells the right to another party to operate the franchise known as:
Franchise
Franchisee
Franchisor
Business
Conducting a cyber business required several mandatory guidelines, which one is not?
Name of Company
Company Registration Number
Little info regarding product/service
Delivery time
