BUS 150 Fundamentals of Business Module 2 Study Guide 1. What is a business plan and why does an entrepreneur need one? 2. What are some resources that can help entrepreneurs set up a business? 3. What is a franchise? 4. What is a franchisor? 5. What is a franchisee? 6. What are the advantages of franchising to the franchisor? 7. What are the advantages of franchising to the franchisee? 8. What are the disadvantages of franchising to the franchisor? 9. What are the disadvantages of franchising to the franchisee? 10. What is a small business? 11. Why would someone want to be an entrepreneur? What is an entrepreneur? 12. Why do some businesses fail? 13. Why is small business important? 14. What are the advantages of a small business? 15. What are the disadvantages of a small business? 16. What are the three sources of funding an entrepreneur may use? 17. What is a sole proprietorship? 18. What are the advantages of a sole proprietorship? 19. What are the disadvantages of a sole proprietorship? 20. What is a partnership? 21. What are the advantages of a partnership? 22. What are the advantages of a partnership? 23. What is a corporation? 24. What are the advantages of a corporation? 25. What are the disadvantages of a corporation? 26. What is an LLC? 27. What are the advantages of an LLC? 28. What are the disadvantages of an LLC? 29. What are ethics? Business ethics? Situational ethics? 30. What are some ethical issues you may encounter? 31. What are the factors that influence ethical behavior? 32. What might the government, industry, or an individual company do to encourage ethical behavior? 33. What is a whistle-blower? 34. What are the two views of social responsibility?
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