The Majority of Small Businesses That Change Owners Are Still

question 17

Multiple Choice

The majority of small businesses that change owners are still in business five years later, about ________ the rate of start-up survival.

• A) Double
• B) Triple
• C) Four times
• D) Fifty times
• E) None of the above

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Definitions:

Lean Business Model

A strategic approach that focuses on minimizing waste within manufacturing systems while simultaneously maximizing productivity.

Triple Bottom Line

A sustainability framework that evaluates a company's social, environmental, and financial performance to measure its full impact.

Environmental

Relating to the natural world and the impact of human activity on its condition.

Cost of Goods Sold

Expenses directly associated with the production process of goods for sale by a company, including both labor and materials.