What do experts consider the key to securing a long-term business loan? Explain.
What will be an ideal response?
Preparation is the key when applying for a long-term business loan. Preparation should begin long before applying for the loan by creating relationships with potential lenders. Other factors that increase a business owner's chances of obtaining a loan include maintaining adequate balances in the firm's bank accounts, checking his or her credit rating with a credit bureau, taking the time to answer all questions on a loan application, stating how the money will be used and how the money will be repaid. Most lenders will insist that you supply audited financial statements. The owner should also compile of references. Finally, he or she should be prepared to discuss the loan request with a loan officer.
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The term ________ is used to collectively refer to any constituencies in an organization's environment that are affected by its decisions and actions.
A. competitors B. shareholders C. unions D. stakeholders
What would be the length of an order cycle – i.e. the time between successive orders using the EOQ?
The materials manager for a billiard ball maker must periodically place orders for resin, one of the raw materials used in producing billiard balls. She knows that manufacturing uses resin at a rate of 50 kilograms each day, and that it costs $.04 per day to carry a kilogram of resin in inventory. She also knows that the order costs for resin are $100 per order, and that the lead time for delivery is four (4) days. Assume 365 days in a year. A) 10 days B) 20 days C) 25 days D) 30 days
Business planning
A. is an ongoing process. B. is an exacting science. C. equals business success. D. will prevent unexpected events.
A perfect market is one in which:
A. there are no competitive advantages or asymmetries because all firms have equal access to all the factors to production. B. one firm develops an advantage based on a factor of production that other firms cannot purchase. C. one participant in the market has more resources than the others. D. competition is at a minimum, as each niche market within an industry is served by the company with the greatest competitive advantage.