Chapter 1

Question 1

POP

Answer 1

Passion, Opportunity seeking, Persistent

Traits of a small business owner

Question 2

A storage place in which to organize you personal and business ideas

Answer 2

24/7 Adventure Notebook

Question 3

_____ also includes talking to people over the internet

Answer 3

Primary Data

Question 4

Newspapers, Magazines, Trade Journals, Banks, Planning Offices, Reports from instutions, Real Estate Firms, Industry Canada Ect.

Answer 4

Examples of Hard Data

Question 5

Industry or market trends reflect our economy’s ______

Answer 5

response to change

Question 6

Knowledge of ______ will help you identify growth oppertunities

Answer 6

market trends

Question 7

E-commerence strategy 5 Stages

Answer 7

Communicating
Promoting
Linking internally
Linking externally
Creating new business models

Question 8

a statement of the purpose of a company, organization or person; its reason for existing; a written declaration of an organization’s core purpose and focus that normally remains unchanged over time.

Answer 8

Mission Statement

Question 9

structured planning method used to evaluate the strengths, weaknesses, opportunities and threats involved in a project or in a business venture.

Answer 9

SWOT analysis

Question 10

describes a situation in which the producer sells a product directly to a consumer without the help of intermediaries.

Answer 10

Direct distribution channel

Question 11

relies on intermediaries to perform most or all distribution functions, otherwise known as wholesale distribution.

Answer 11

Indirect distribution channel