Ent: Unit 2 Assessment

Front

A consumer need or want that can potentially be met by a new business.

Back

Business Opportunity

Front

The period of time you have to act on a business opportunity before it disappears

Back

Window of Opportunity

Front

External sources of business opportunity include all of the following except: Problems, New Discoveries, Talents, Unique Knowledge

Back

Talents

Front

A business broker is

Back

Someone who is licensed to sell a business

Front

A franchisor is someone

Back

Who sells the franchise business

Front

All of these are drawbacks to buying a franchise except: Initial and ongoing fees, Less entrepreneurial freedom, Training and marketing support

Back

Training and marketing support

Front

The process of adding up all the expected benefits of an opportunity and subtracting all the expected costs.

Back

Cost/Benefit analysis

Front

The value of something you get in exchange for something you give up.

Back

Opportunity cost

Front

The S in SWOT analysis stands for

Back

Strength

Front

What part of a SWOT analysis does this describe: What obstacles stand in the way of you pursuing this opportunity

Back

Threats