Stating That the Failure of a Small Business Was Due

question 37

Multiple Choice

Stating that the failure of a small business was due to "lack of experience" implies:

• A) not having expertise in the essentials of business operations, including finance, purchasing, selling, and production.
• B) not taking the time to craft a vision and mission, nor to formulate and properly implement a strategy.
• C) not keeping track of the numbers, and failure to control business finances and use existing monies to best advantage.
• D) not taking the time to consolidate a position, fine-tune the organization, and systematically meet the challenges of growth.
• E) not having sufficient know-how to run a business in the chosen market or geographical area.

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Definitions:

Numerical Relationships

The association or connection between numbers, often expressed through formulas or equations.

Spatial Information

Data or details that relate to the position, area, and size of things within a given space.

Persuasive

Text or speech aimed at convincing the reader or listener to adopt a particular opinion or carry out a specific action.

Trademarking

The process of legally registering a brand name, logo, or slogan to protect it from being used without permission.