A(n) ________ competitor offers the same or similar products or services only in a small number of areas, and their target customers seldom overlap yours.

Specialized knowledge is an example of a barrier to entry.

A clearly defined vision helps a company in which of the following ways?

When bargaining power of buyers is ________, the industry is ________ attractive.

A limited partner is treated as an investor in a business venture and does not take an active role in managing it.

Ambiguity tends to destroy creativity.

One of the biggest changes entrepreneurs face is the shift in the economy from a base of financial to intellectual capital.

Most states do not require a Certificate of Incorporation or a charter to be filed for a new corporation.

A method of franchising that gives the right to create a semi-independent organization in a particular territory is a ________ franchise.

A strategic plan serves as a blueprint to help a company to ________.