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The financial feasibility analysis takes these aspects into consideration ________.

Many small businesses prosper by sticking to niches in a market that are too small to attract the attention of large competitors.

Carlos founded the “Taco Factory” 20 years ago as a family-oriented restaurant. Over the years as they grew the business, he incorporated and sold stock to outside investors. Recently the stockholders voted to seek liquor licenses and to sell beer and hard liquor in the restaurants. Carlos opposed this, citing the history of the restaurant’s “family” environment, but was voted down. Carlos has experienced which drawback of the corporate form of ownership?

Secondary research includes customer surveys.

Conducting primary research involves collecting data firsthand and analyzing it.

The relationship between core competencies and competitive advantage is best described by which statement?

A(n) ________ competitor offers the same or similar products or services only in a small number of areas, and their target customers seldom overlap yours.

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

Although developing a strategic plan is important for large companies, it is not essential to managing a small company successfully because of its limited resources.

Kevin Abt noticed that people were cooking meals in their homes less often but wanted to avoid the hassle of going out to eat. They wanted to “eat in” without cooking. Abt launched a company, Takeout Taxi, that delivers restaurant-prepared food to his customers’ homes and businesses. Takeout Taxi is the result of a(n) ________.