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Business Management Warm-Ups 3/21/24

Quiz by NeKeisha King Price

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10 questions
Show answers
  • Q1
    Which of the following is a key characteristic of a successful small business owner?
    Procrastination
    Adaptability
    Rigidity
    Impulsivity
    30s
  • Q2
    What is a common challenge faced by small businesses when it comes to financing?
    No need for financial planning
    Limited access to capital
    Unlimited resources
    Easy access to funding
    30s
  • Q3
    Why is it important for small businesses to establish a strong online presence?
    To limit customer reach
    To reduce brand awareness
    To reach a wider audience
    To avoid technology altogether
    30s
  • Q4
    What is a common reason why small businesses fail?
    Too much preparation
    Lack of proper planning
    Excessive marketing
    Unexpected success
    30s
  • Q5
    Why is customer service important for small businesses?
    To ignore customer needs
    To increase customer complaints
    To build customer loyalty
    To discourage customer feedback
    30s
  • Q6
    What is a common benefit of networking for small business owners?
    Decreased business visibility
    Isolation from industry trends
    Access to resources and opportunities
    Limited growth potential
    30s
  • Q7
    What is a key purpose of creating a business plan for a small business?
    Staying flexible without direction
    Ignoring long-term objectives
    Guiding decision-making and setting goals
    Avoiding any planning
    30s
  • Q8
    What is a business plan?
    A financial statement of a business
    The physical location of a business
    A document outlining the goals and objectives of a business
    The logo of a business
    30s
  • Q9
    What is a SWOT analysis in small business management?
    An assessment of a business's strengths, weaknesses, opportunities, and threats
    A marketing strategy focused on social media
    An inventory of products in stock at a business
    A document outlining daily tasks for employees
    30s
  • Q10
    What is the definition of break-even point in small business management?
    The percentage of market share a business has reached
    The point when a business decides to shut down
    The level of sales at which total revenue equals total costs
    The date a business was established
    30s

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