Briefly explain the four major pitfalls, or hazards, an entrepreneur should avoid when using a social media plan.
What will be an ideal response?
1. Social media requires the cultivation of relationships. This takes time and it is not likely to generate sales very quickly. Be patient and continue to assess the plan.
2. Many entrepreneurs do not spend the time posting and cultivating the results of any plan. It is necessary to allocate time each day reviewing and updating material as well as responding to any existing posts or blogs.
3. Avoid using all of the posts for promoting your brand. About one in every seven posts should be promoting the brand and the remainder should be devoted to increasing interests and sharing among customers and their friends and followers. When followers talk to you, it is important to talk back to them to generate increased interest.
4. It is easy to avoid setting goals for the social media plan. Both short-term and long-term goals should be stated to help assess the effectiveness of the plan.
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A company that uses the perpetual inventory system purchased 500 pallets of industrial soap for $7,000 and paid $800 for the freight-in. The company sold the whole lot to a supermarket chain for $15,000 on account. Which of the following entries correctly records the sale?
VALS FrameworkVALS creates profiles of people based on their primary motivation and resources. In the VALS framework above, A refers to
A. Ideals. B. Innovators. C. Achievement. D. Survivors. E. Self-Expression.
Cho, the international sales manager at a fashion house, is concerned that the euro is stronger than the U.S. dollar. This would be identified in the ________ section of a global market research report.
A. political, legal B. cultural, societal C. business environment D. economic E. history, geography
In the operations and ________ section of a business plan, explain specifically how you will run your business, including location, equipment, and personnel
Fill in the blank(s) with correct word