Which of the following is an advantage of buying into a franchise system? A) It

Question

Which of the following is an advantage of buying into a franchise system? A) It comes with an established business system. B) It comes with a workforce. C) It already has a customer base with ongoing sales. D) It allows the owner to have a very high level of freedom. E) It requires the owner to establish brand recognition from scratch. 6) Which of the following statements is TRUE regarding the failure rates of new businesses? A) It is possible to calculate a precise figure that represents all types of businesses across all industries. B) The definition of "failure" remains the same across businesses and business owners. C) Establishing a time frame is not essential for a failure rate to have any meaning D) Structural changes in the economy are unrelated to the failure rates of new businesses. E) The failure rate of new businesses is usually high during the first year 7) Small businesses can seek private financing in all of the following ways EXCEPT A) selling stocks and bonds B) seeking angel investors C) tapping personal savings D) attracting venture capitalists E) using credit cards and lines of credit gives a franchisee the right to produce and distribute the manufacturer's products 8) A using supplies purchased from the franchisor. A) product franchise B) business-format franchise C) manufacturing franchise D) licensed franchise E) utilitarian franchise 9) TRUE or FALSE Management is the process of planning, organizing, leading, and controlling to meet organizational goals. 10) plans outline the firm's long-range (often two to five years) organizational goals and set a course of action the firm will pursue to reach its goals. A) Tactical B) Operational C) Strategic D) Short-term E) Contingency

Explanation / Answer

Dear Student,

The answers for the following questions are mentioned as under:

5) Ans A

6) Ans E

7) Ans A

8) Ans C

9) Ans True

10) Ans Strategic

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