E II - OBJ 1.03 MC

Juan is planning on opening a new hardware store. He has many years’ experience in the hardware industry, but he lacks business knowledge. Juan wants to find a mentor. Which organization would most likely be the best resource for Juan?

• SCORE

• Small Business Administration

• LinkedIn

• Customers

Jenna has a small designer cupcake shop. She is looking to expand her business but will need a small loan to do so. They bank is willing to offer a loan to Jenna, but she needs to create a business plan first. What organization should Jenna look to for help on developing a business plan?

• Small Business Administration (SBA)

• SCORE

• Customers

• Internal Revenue Service (IRS)

1. Rhonda is interested in contacting local entrepreneurs in her area for ideas for improving her businesses cash flow. Rhonda is very connected to social media. Where on social media should Rhonda turn for business management information?

• LinkedIn

• Customers

• SBA

• SCORE

Allen sells drones and has been developing a new version that will be a top of the line seller with multiple camera, stereo, and operating features. Allen creates a survey to find out what new features his drone should have. Who should Allen offer the survey to?

• Customers, vendors, employees, managers

• SCORE

• IRS

• Attorney

What organization should Peter contact if he has questions about his business’s federal taxes?

• IRS (Internal Revenue Service)

• SCORE

• SBA (Small Business Administration)

• Customers

Which group below are local community organizations a new entrepreneur should contact if he/she would like to speak with local business professionals.

• Chamber of Commerce, Better Business Bureau, Rotary, Kiwians

• IRS, SBA, SCORE

A customer falls on a wet floor in Stephanie’s shop and later files a lawsuit against the business. What type of professional should Stephanie contact for assistance?

• Attorney

• SBA

• Local Chamber of Commerce

• LinkedIn

Mentor

• An experienced and trusted person who gives another person advice and help, especially related to work or school, over a period of time.

• a person or company that sells goods or services.

• A company’s blueprint for success; shows how the business works now and how it is intended to work in the future; the written business model

• A set of procedures or strategies for attracting the target customer to a business

Vendor

• a person or company that sells goods or services.

• A violation of the rights of the person who owns a copyright

• The portion of a document in which the sections are listed with their page numbers for easy access

• A set of procedures or strategies for attracting the target customer to a business