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Guidance for Preparing for Final Exam ENTR 120 – The Entrepreneurial Process Section 001

Guidance for Preparing for Final Exam ENTR 120 – The Entrepreneurial Process Section 001 . Section 001, Final Exam on Thursday, May 13 from 12:30 to 2:30 pm Exam will be all Essay Review your lecture notes and especially the key points identified on the following slides.

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Guidance for Preparing for Final Exam ENTR 120 – The Entrepreneurial Process Section 001

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  1. Guidance for Preparing for Final Exam ENTR 120 – The Entrepreneurial ProcessSection 001

  2. Section 001, Final Exam on Thursday, May 13 from 12:30 to 2:30 pm • Exam will be all Essay • Review your lecture notes and especially the key points identified on the following slides. • Bring your own pen/pencil and paper for the exam

  3. The Illusions of Entrepreneurshiptextbook • Chapter 5 • Be able to describe how new business are financed • What factors about a new business will contribute to its ability to obtain financing? • Be able to explain the lessons for financing that you would take from this chapter • Chapter 8 • Be able to describe the nature and myths of entrepreneurship among women • Chapter 9 • Be able to describe the nature and myths of entrepreneurship among blacks

  4. Sales Projections • Be able to identify and describe multiple methods for developing sales projections for a business

  5. Creating the EnterpriseChapter 10 • Know the methods for valuing a business • Why are an accountant and lawyer necessary when purchasing business? What will each do in helping to make decisions about buying a business? • What lessons for buying a business can be drawn from the discussion of “The Small Cheese,” pp. 332-334? Especially be able to explain how Critical Success Factors must be considered in the decision to buy a business.

  6. Creating the EnterpriseChapter 11 • Be able to explain how franchising works • Be able to explain the purpose and content of the Uniform Franchise Offering Circular (UFOC) • Be able to describe the benefits and downsides of franchising • Be able to explain a process for selecting a franchise

  7. Creating the EnterpriseChapter 12 • Be able to answer Question No. 11, pp. 405-406 • Be able to explain why “action” is important to becoming an enterpriser, especially moving from objectives to commitment and overcoming fears associated with being an enterpriser • Be able to complete the following table for your FUTURE Commitments to Reach Goals/Timeframe, pp.398-400

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