Leigh Wants to Go into the Business of Construction Contracting

question 36

Multiple Choice

Leigh wants to go into the business of construction contracting. Among the reasons that would probably convince Leigh to set up his business as a sole proprietorship would be

• A)its greater organizational flexibility.
• B)its limited liability.
• C)its perpetual existence.
• D)the ease of transferring the business to other family members.

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Definitions:

Reciprocity

A social norm where actions or services are returned or repaid, emphasizing mutual exchange and cooperation.

Reciprocal Alliances

Collaborative agreements between businesses or entities where each party offers mutual benefits and support, fostering shared success.

Effective Networkers

Individuals who are proficient in establishing and maintaining professional connections that are beneficial for career and business development.

Personal Power

The influence and authority an individual possesses internally, derived from personal attributes or expertise, rather than a formal position.