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One of the best ways to identify your own cultural biases is to get exposure to people who are not like you.

Entrepreneurs need to rely on left-brain thinking to generate innovative product, service, or business ideas and use right-brain thinking to judge the market potential of the ideas they generate.

Which of the following statements is not true regarding the liquidation of an S corporation?

________ is a statement that defines the values underlying the entire company and its ethical responsibilities to its stakeholders.

A conversion franchising arrangement gives a franchisee the right to create a semi-independent organization in a particular territory to recruit, sell, and support other franchisees.

A product feasibility analysis answers the question, “Are customers willing to purchase our goods and services?”

Generally, an industry is more attractive to new entrants when the advantages of economies of scale are present.

Specialized knowledge is an example of a barrier to entry.

In the business and industry profile section of the business plan, the entrepreneur should provide information on the size of the market, growth trends, and the relative economic and competitive strength of the industry’s major players.

Research shows that not everyone can be creative.