Finance Environments and Pathways Options

Which pathway option is missing from the list below?

Open a new business

Enter into a franchise

Which environmental factor does the following question belong to?

How will staff be trained in minimising business costs?

• Owners and management

• Employees

• Organisational Culture

• Organisational Structure

Which environmental factor does the following question belong to?

How will the owner acquire financial knowledge and skills?

• Cuppliers

• Interest Groups

• Organisational Structure

• Owners and management

Which macro factor does the following question belong to?

Could the current inflation figures impact the pricing of goods and services in the business?

• Political

• Economic

• Legal

• Financial

Which pathway option is most ideal for an entrepreneur?

• Open new business

• Buy existing business

• Franchise

Select all that are key features of opening a new business.

• All business decisions are made by the owner

• The level of risk is high

• The value of the business's reputation (goodwill) is known

• Seeks a location for approval

TRUE of FALSE

When buying an existing business the new owner/s can choose offer new product and services

• TRUE

• FALSE

What is the level of risk associated with buying an existing business?

A franchise allows someone who aspires to be the business owner to own a business, under the _____________ and _____________ of the large business's head office.

• guidance, financing

• licensing, financing

• financing, management

• guidance, licensing

Select all that are the general responsibilities of a Franchisor.

• advertises on behalf of all franchises

• provides all marketing materials

• ensures training

• dictates the goods and services that are offered