Essay Questions (10 Points Each)

1.      Briefly discuss the value of diversity in business.

2.      Explain in detail three advantages that contribute to the success of a small business.

3.     Explain in detail one strategy by which a business could gain a competitive advantage.

4.     Discuss the relationship between social responsibility, ethics, and strategic planning.

5.     List and describe at least five marketing research and evaluation components to be included in a business plan.

6.     Compare and contrast a sole proprietorship, a partnership, and a corporation.