Sarah has always been interested in starting her own business. She recently came upon what she thinks is a great new product idea for a start-up business, but she is unsure how to proceed. What should she do now to increase the chance that her new business will actually become a reality? Select the correct response: O decide what form of ownership her new business should adopt determine what sorts of government funding is available for her start-up O test her idea by talking about it with potential stakeholders and by conducting a pilot test of the new product's appeal to potential customers both a and b none of the above
Sarah has always been interested in starting her own business. She recently came upon what she thinks is a great new product idea for a start-up business, but she is unsure how to proceed. What should she do now to increase the chance that her new business will actually become a reality? Select the correct response: O decide what form of ownership her new business should adopt determine what sorts of government funding is available for her start-up O test her idea by talking about it with potential stakeholders and by conducting a pilot test of the new product's appeal to potential customers both a and b none of the above
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Transcribed Image Text:Sarah has always been interested in starting her own business. She recently came upon what she thinks is a great new product idea for a start-up business, but she is unsure how to proceed. What should she do
now to increase the chance that her new business will actually become a reality?
Select the correct response:
O decide what form of ownership her new business should adopt
determine what sorts of government funding is available for her start-up
O test her idea by talking about it with potential stakeholders and by conducting a pilot test of the new product's appeal to potential customers
O both a and b
O none of the above
Transcribed Image Text:Which of the following is true with regard to family businesses?
Select the correct response:
nepotism is generally not an issue in family businesses
O family businesses are generally better run than non-family businesses because the family members know each other and therefore have better working relationships
family businesses will generally have higher agency costs than non-family businesses
O family members may be willing to make sacrifices for the firm in order to safeguard the future of their family business
all of the above
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