Reference no: EM133186498

1. What the different types of bankruptcy and how they affect the longevity of the business.

2. How does the Federal Trade Commission protect consumers?

3. List and briefly explain the laws that protect people in the workplace.

4. Name and explain the four elements that a contract must have to be valid.

5. What tests must an invention pass in order to receive a patent?

6. What are the differences in marketing approaches as it relates to market segmentation? Can the same marketing strategies be employed when the market is segmented? Why or why not?

7. What would happen to a business without a marketing strategy? Why?

8. Why is segmenting a niche market so crucial for small business?

9. What types of data should be collected and analyzed in order to get a clear picture of the market for the good or service being produced?

10. What do you think is the biggest limitation for small businesses conducting market research?

11. Aside from reducing inventory levels, what does the just-in-time philosophy promote? Why is it beneficial to small businesses?

12. What factors should be considered when purchasing for a small business?

13. Aside from reducing inventory levels, what does the just-in-time philosophy promote?

14. When would an ABC inventory system be appropriate?

15. Explain how the Pareto rule is important to a small business owner.