When Buying a Small Business You Need to Know All

question 12

Multiple Choice

When buying a small business you need to know all of the following items except:

• A) the owner's reason for selling.
• B) the competition in the area.
• C) the financial picture of the business.
• D) the owner's family stability and relationships.

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Definitions:

Organizational Levels

The layers of authority and responsibility in an organization, typically including top-level management, middle-level management, and operational-level management.

Biculturalism

What occurs when members of a cultural minority display characteristics of a cultural majority in order to succeed.

Discrimination

The act of making distinctions in treatment or favor on a basis other than individual merit, often leading to unfair practices.

Organizational Subcultures

Distinctive cultures that emerge within different departments, teams, or groups of an organization, often with their own norms and values.