The Probability of the Success of a Business Venture Depends

question 96

Multiple Choice

The probability of the success of a business venture depends:

• A)solely on strong execution of the strategies.
• B)solely on the necessary resources and capabilities.
• C)solely on the right entrepreneurial team.
• D)solely on a good opportunity.
• E)on a good opportunity, the right entrepreneurial team, and the necessary resources and capabilities.

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Definitions:

Small Business

A business is generally considered small if it is independently owned, operated, and financed; has fewer than 100 employees; and has relatively little impact on its industry.

Purchasing Priority

The practice of prioritizing procurement activities based on factors such as urgency, price, or importance to the business.

Holding Costs

Expenses related to keeping inventory on hand.

Stocking Costs

Expenses related to holding or storing inventory, including warehousing, handling, insurance, and spoilage costs.