Advantages of Buying An Existing Business That You Do Not Have A Startup

Wednesday January 12, 2022

Advantages to buying an existing business that you do not have with a startup include ________. *

3 points

easy implementation of innovations and changes from past policies

greater access to venture capital

the opportunity to participate in a national advertising campaign

inventory is in place and trade credit is established

The key to choosing the right form of ownership is ________. *

3 points

forming either an S corporation or a limited liability company since they are the only forms that offer owners liability protection

understanding the characteristics of each form and knowing how they affect your business and personal circumstances

envisioning where your business will be in 10 years

irrelevant since choosing a form of ownership is merely a technicality and has little impact on the business and its owner(s)

The process of investigating the details of a company that is for sale to determine the strengths, weaknesses, opportunities and threats facing it is known as the ________. *

3 points

hidden market process

business assessment process

due diligence process

skimming process

Whole Foods competes successfully with giant chains such as Wal-Mart and Kroger not on price but by emphasizing superior customer service, higher-quality products, a more extensive inventory of local and organic products, and a commitment to fair-trade suppliers. Its stores are well organized, attractive and entertaining. By following these strategies, what is the goal that Whole Foods is trying to achieve? *

3 points

Competitive profile

Mission statement

Competitive advantage

Strategic plan

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