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Entrepreneurship

Review Questions

EntrepreneurshipReview Questions
1.

What types of tangible, intangible, and funding resources exist? Give examples of each.

2.

What is an example of a tangible resource and an intangible resource?

3.

What is the PEST tool? How can entrepreneurs use it to their advantage before launching a business?

4.

Why is it important to figure out costs before launching a business?

5.

What are examples of costs that must be taken into consideration before opening a business?

6.

What is the difference between one-time costs and monthly costs? How much should an entrepreneur have of monthly costs in advance?

7.

Define the resource dependence theory.

8.

What is the life cycle of a business and how do resource needs and their associate costs shift over time?

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