Bill and Megan Tempelton Are Planning to Open a Smoothie

question 59

Multiple Choice

Bill and Megan Tempelton are planning to open a smoothie restaurant near a large soccer complex in Greeley, Colorado, and need $75,000 to get started. They have $15,000 of their own money, which leaves $60,000. After getting turned down by a couple of banks, they decided to turn to their relatives and acquaintances for help. Fortunately, they were able to raise the money through a gift from Bill's grandfather, a loan from Megan's parents, and a small investment by Bill's best friend in college, Kevin. The money that an entrepreneur raises in this manner is referred to as:

• A) friends and family
• B) bootstrapping
• C) networking money
• D) compassion money
• E) legacy money

---

Definitions:

Well-being

A state of comfort, health, or happiness.

Employees

Individuals who are hired and compensated by a business or organization to perform specific duties.

High-involvement Management

A strategic approach in management that involves giving employees substantial responsibilities and roles in decision-making processes, aiming to increase engagement and performance.

Decision-Making Processes

The series of steps taken by individuals or groups to identify and evaluate options and make choices among them.