Homework answers / question archive / Frank Elizardo-AriasIntro to Business MGMT 101 March 7, 2017 Class: T/Th Time: 8:00am – 9:30am Review Questions for Chapter 5 Question 1)Describe how a small business might use innovation to create new jobs

Frank Elizardo-AriasIntro to Business MGMT 101 March 7, 2017 Class: T/Th Time: 8:00am – 9:30am Review Questions for Chapter 5 Question 1)Describe how a small business might use innovation to create new jobs

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Frank Elizardo-AriasIntro to

Business MGMT 101

March 7, 2017

Class: T/Th

Time: 8:00am – 9:30am

Review Questions for Chapter 5

Question 1)Describe how a small business might use innovation to create new jobs.

Question 2: Why do so many small businesses fail before they reach their tenth year?

Question 3: What are the benefits of developing and writing an effective business plan?

Question 4: What is the Small Business Administration? How does it assist small companies, financially and in other specialized ways?

Question 5: Describe how local governments and business incubators help small firms get established and grow.

Question 6: Why are so many small-business owners attracted to franchising? Under what circumstances might it be better to start an entirely new business instead of purchasing a franchise?

Question 7: What are the benefits and drawbacks to traditional corporate structure? How do S corporations and limited liability corporations enhance the corporate legal structure?

Question 8: Cooperatives appear frequently in agriculture. Describe another industry in which you think collective ownership would be beneficial, and explain why.

Question 9: In proprietorship and in partnerships the owners and the managers of the business are the same people. How are ownership and management separated in corporations?

Question 10: How might a joint venture between a commercial firm and a not-for-profit organization help both achieve their goals?