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The Art Science

Business

Quiz 12 :

Establishing Operations

Quiz 12 :

Establishing Operations

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Picking which bank to work with is a very simple and easy decision for a small business owner as all banks are capable of working with small businesses and want their business.
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True False
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Answer:

False

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Financing the initial operations begins with a variety of initial payments and the process of setting up a business and ends with the first completed sale.
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True False
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Answer:

True

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Efficient use of time is imperative for a new business owner.
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True False
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Answer:

True

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Underestimating the amount of time it will take to begin operations is a mistake that harms many new business owners.
True False
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A production management system is an important step to accomplish in the later stages of a new business start-up.
True False
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Legitimacy is a term used by financial institutions interacting with new businesses, which indicates there are questionable areas of concern.
True False
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Developing the perception of legitimacy for both customers and suppliers is very easy, and it does not affect the long-term survival of a business.
True False
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The founders of a business setting a schedule allows them to get a solid handle on how soon they can begin operations.
True False
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Commercial real estate firms are a major source of information for a new business owner who is trying to decide where to locate the business.
True False
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Legitimacy is the acceptance by key stakeholders such as customers and suppliers that you are a genuine business that will still be in operation next year.
True False
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The perception of looking like and acting like a successful company can help a new small business build legitimacy.
True False
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The purpose of a critical path chart is to be a formal document for a business plan.
True False
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In marketing, the old axiom of location, location, and location is the key to business success.
True False
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Regardless of the business location, an entrepreneur needs to consider the potential means with which to establish the legitimacy of a business in the eyes of the customers and suppliers.
True False
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When developing a critical path chart, assigning responsibilities and estimated time of tasks is considered to be an intellectual activity.
True False
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A mall shopping center is a retail center that occupies a small area of land along a major street.
True False
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A critical path chart allows an owner to understand which activities can occur concurrently and which ones must be in place before the next activity can occur.
True False
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A root cause of many of the problems in a new business can be traced to the lack of development or implementation of its operational plan.
True False
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The chart of how actions fit together is a critical path chart that shows the set of activities that are dependent on each other and that take the longest time.
True False
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A strip center generally has anchor stores to draw in customers.
True False
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