Book: Business in Action

1) TRUE or FALSE A 12-employee executive recruiting firm making $750,000 per year would be a small business 2) Which of the following is one of the main reasons that small businesses are using social media for marketing and advertising? A) Many of their employees are social media mavens. B) Social media offers their customers robust protection from identity theft. C) Social media offers a noncompetitive space where they can sell their products. D) Social media allows them to stretch their small advertising and promotional budgets E) Big businesses have avoided social media in favor of traditional advertising and promotion. 3) Which of the following is a quality that a successful entrepreneur is most likely to A) unwillingness to take risks B) unwilling to make any sacrifices in other areas of life C) high need to be motivated by an external agent D) always measures success in strictly financial terms E) views failure as a chance to grovw have? 4) Barbara decided to open an independent bookstore. However, after careful consideration, she decided to purchase an existing bookstore called BookStop from an owner who was retiring. Which of the following statements, if true, is most likely to make Barbara's business successful? A) Barbara decides to change the layout of the bookstore and repaint the walls. B) The government increases the taxes on small businesses. C) Barbara decides to reduce the freedom given to the existing employees by the previous own of BookStop. D) Barbara does not like the existing business processes and systems, so she decides to build them from scratch. E) BookStop was a profitable business with many loyal customers