According to the Small Business Administration, Which of These Defines

question 81

Multiple Choice

According to the Small Business Administration, which of these defines a business?

• A) It has fewer than 500 employees.
• B) It has sales less than $5 million a year.
• C) It has fewer than $100 million in assets.
• D) The SBA's definition of small business is one that is independently owned and operated and not dominant in its field of action.
• E) It has fewer than 50 employees and $1 million in sales.

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Definitions:

Tradition

Involves the transmission of customs or beliefs from generation to generation, or the fact of being passed on in this way, which can influence consumer behavior and expectations.

Promotional Strategies

Plans designed to inform, persuade, or remind target audiences about products or services, typically aiming to enhance sales or create brand loyalty.

Idea Screening

The process of evaluating new ideas to identify those with the greatest potential for further development and success in the market.

New-product Development

The process of bringing a new product to the marketplace, from the initial idea through research and development to eventual launch.