Brothers Ronnie and Jacob Are Both in College; Ronnie Is

question 93

Multiple Choice

Brothers Ronnie and Jacob are both in college; Ronnie is a senior and Jacob a sophomore. They’re both majoring in business administration and want to open a small business a few years after graduation. They understand that it’s important to gain more management experience and build good credit ratings. Ronnie wants more security in his work and would be satisfied working with an older partner until he “learns the ropes.” More than Jacob, he’d prefer a business that’s been established for a few years. Although he likes a certain degree of independence, he’s willing to follow directions and take advice. Jacob, on the other hand, wants more freedom to make his own choices and to succeed or fail on his own merits. He’s quite creative and likes to set his own rules.
-If you were a business advisor,what would you probably recommend for Ronnie?

• A)Start a business from scratch.
• B)Buy an existing business.
• C)Buy a franchise.
• D)Go into business with his brother.

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Definitions:

Interpersonal Relations

The social and emotional interactions between two or more individuals in an environment.

Self-Awareness

Refers to the conscious knowledge of one’s own character, feelings, motives, and desires, crucial for personal development.

Financial Structure

The mix of debt and equity that a company uses to finance its operations and growth, reflecting its financial strategy and risk profile.

Employee Involvement

The practice of engaging employees in decision-making processes and empowering them to contribute to company success.