INTRODUCTION TO ENTREPRENEURSHIP
ENTREPRENEURIAL PROCESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -When you acquire a franchise, you’ll have access to their proven business formula and their operating system. For this reason, acquiring a franchise is less risky than starting your own business, and takes less work to get it up and running. Ongoing support and training.
Detailed explanation-2: -One of the disadvantages of being a franchisee is that you may not have much control over the branding and marketing of your business. This is because the franchisor may want to retain a certain level of control over the branding and marketing of the company.
Detailed explanation-3: -Grow your business-franchising your business can be a cost-effective way to grow your business. Costs-each franchisee finances their own franchise outlet. Easier management-the franchisees also run their businesses therefore reducing the management demands placed on you. More items