Andy,an Entrepreneur,plans to Open a Bakery in His Neighborhood

question 63

Multiple Choice

Andy,an entrepreneur,plans to open a bakery in his neighborhood.He realizes that there are no branded bakeries in the locality,even though there are a number of independent bakeries.He approaches Soft Bakes,an international bakery chain,and signs an agreement with them that gives him the right to open a bakery shop that uses Soft Bakes' name and management methods.In this scenario,which of the following business methods does Andy use?

• A) business-format franchise
• B) joint venture
• C) shakeout
• D) vertical integration
• E) delayering

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Definitions:

Poverty

A condition where individuals or communities lack the financial resources to meet a minimum standard of living.

Economic Privilege

The advantages and access to resources afforded to individuals or groups, often based on socioeconomic status, which can influence opportunities and quality of life.

Political Privilege

Refers to the special advantages, rights, or benefits afforded to individuals or groups in a political context, often based on their position, status, or influence.

Communication Styles

The varying methods and preferences individuals use to exchange information and express themselves in interactions with others.