2. (TCO 1) The impact downsizing has on small business is which of the following

Question

2. (TCO 1) The impact downsizing has on small business is which of the following? (Points : 5) No labor force to work in small businesses, Opportunity to perform the work large businesses no longer perform, An availability of workers with no skills, Lack of financial backing for small businesses

Question 3. 3. (TCO 1) The most common cause of business failure is _____. (Points : 5) choosing the wrong type of business ownership, starting a business that is too large, lack of marketing expertise by the small business owner, inadequate management and financing

Question 4. 4. (TCO 1) In the growth stage of the startup process model, what is the primary goal of the small business? (Points : 5) Regulations, Employees, Vendors, Reaching critical mass (survival) Question 5. 5. (TCO 1) The single biggest disadvantage of sole proprietorships is which of the following? (Points : 5) Limited resources, Limited skills, Unlimited liability, Double taxation

Question 6. 6. (TCO 4) Which one below is not part of the elements of a marketing plan? (Points : 5) Marketing objective, Marketing directive, Product, Target market

Question 7. 7. (TCO 4) Place can be best described as dealing with _____. (Points : 5) distribution delivery supply chain All of the above

Question 8. 8. (TCO 4) The average American spends approximately _____ hours per week watching television. (Points : 5) 20 50 65 92

9. 9. (TCO 4) Managing inventory can be compared to which of the following? (Points : 5) A balancing act Preparing for a test Driving a bus Lion taming

Explanation / Answer

Answer 2.: The impact downsizing has on small business is "Lack of financial backing for small businesses"

Downsizing can be the result of increased efficiency or reduction in demand. In both cases, organization need financial support to hold onto their employees as well as market presence and failing to which results in downsizing.

Answer 3.:  The most common cause of business failure is inadequate management and financing. In past 10 years, I have seen many small businesses shutting down due to this reason and considered as common reason for failure.

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