Strength and weaknesses are internal while opportunity and threats are external

External environment are controllable elements inside a firm that influence how well the firm operates.

The internal environment is global and requires consideration of legal, econominc, technological and sociocultural factors among others.

These refer to the areas in which your business does not perform well or could stand improvement.

These are positive and favorable factors in the environment, which you should take advantage of or which can make a project idea potentially viable or feasible.

These factors are normally beyond your control as an entrepreneur.

These are the advantages or things that make your business stronger.

Resource limitations.

You conduct a SWOT analysis and find out that a new competitor is opening within 5 miles of your store. This would be considered a __________.

Business Model Canvas includes customer segments, customer relationship, value propositions, key activities, key resources, key partners, cost structure and revenue stream.

Market segmentation approaches includes geographical, demographic, psychographic and economics.

An example of revenue stream are asset sale and subscription fees.

Efficiency block represent 5 block on the right side of the BMC

Communications and delivering represent

A _________ is a very reason why customers choose your company over another and buy a product or service only from you.

•Sales

•Subscription fees

•Membership fees

These fall under?

What best describes a Business Model Canvas?

Where in the BMC would you list your fixed and variable costs?

What does "Unique Value Proposition" mean?

For business Starting from scratch, entrepreneur has to make decision on business name, location of business, and funding to start the business

Buying existing business means entrepreneur start a new venture by taking over an existing business either buying the whole business or partial shares in the existing business

Franchise is a person who purchases the right from the franchisor to operate the franchise

Which is not family business challenges

Franchising advantages for franchisee are these except

Family business sucession means that the entrepreneur is the successor of the business which was started by the earlier family members (predecessors)

Advantages of Buying existing business are these except

Entrepreneur that decided to start a business from scratch need to make some decision, EXCEPT:

Which one is not advantages of starting a business from scratch?

"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?

What is the advantage of family business succession?

A product and/or service distribution system which is governed by a contract known as:

A person who purchases the right from the franchisor to operate the franchise known as:

There are four level of family business. What is level 3?

Creating a new venture from buying an existing business required several risks, INCLUDE: