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.