Few other stakeholders are as important to a business as its employees.

For the question(s) below, consider the following competitive profile matrix: Competitive Profile Matrix Key Success Factors Your Business Weighted Competitor 1 Weighted Competitor 2 Weighted Weight Rating Score Rating Score Rating Score Quality .35 4 1.40 2 .70 1 .35 Service .20 4 .80 2 .40 2 .40 Convenience .15 2 .30 4 .60 1 .45 On-Time Delivery .20 2 .40 4 .80 3 .60 Location .10 3 .30 1 .10 2 .20 Total 1.00 3.20 2.60 1.70 Which company has the strongest competitive position?

The “theory of inventive problem solving” is a left-brained, scientific, systematic process based on innovative patents and is referred to as ________.

A patent protects the creator of original works of authorship such as for software.

If a business has a lien against any of its assets at the time of the sale, the buyer must assume them and is financially responsible for them.

Having access to capital is called entrepreneurial readiness.

Every business is characterized by a set of controllable variables that determines the relative success (or lack of it) of market participants called ________.

Most home-based businesses are simple cottage industries such as crafts or sewing.

Employee assistance programs (EAPs) are an effective weapon in the battle against workplace substance abuse.

“Gazelles” are those businesses that grow at 20 percent or more per year for four years and gross at least $100,000 in annual sales.