ENTREPRENEURSHIP

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INTRODUCTION TO ENTREPRENEURSHIP

IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
There are several auto repair shops in town, but Patricia’s stands out. Her auto repair shop does great work, but what really sets her shop apart is the customer service. Every customer is greeted by a friendly employee, and s/he is given snacks and drinks while s/he waits for the repairs to be completed. The great customer service that people can expect from Patricia’s business is considered her
A
Vision
B
Tagline
C
Brand promise
D
Mission statement
Explanation: 

Detailed explanation-1: -One reason many companies do not organize themselves as an S corporation is that this form of business:Has a special eligibility restriction, which many businesses are unable to meet.In the late 1990s, firms found it easier to grow market share by:Merging with other companies or acquiring new companies.

Detailed explanation-2: -These include a clear strategy, the right workforce talent, and organizational controls that spur performance without stifling employees’ initiative. Moreover, no two ventures take the same path. Thus entrepreneurs can’t look to formulas to navigate the myriad choices arising as their enterprise evolves.

Detailed explanation-3: -An owner-manager is a person who founds a new business. False. According to the text, owner-managers who buy out founders of existing firms may be classified as entrepreneurs. True. The universally accepted definition of the term small business is based on the number of people employed by the firm.

There is 1 question to complete.
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