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*business managment

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Below you will find five questions. The test is worth 15 points and each answer is worth three points. Your answers should be substantive and demonstrate a high- degree of critical thinking. A minimum of 250 words per answer is required. In addition, you should incorporate a minimum of two references for each question from the text or an academic resource to support each answer (20% of your score is tied to this element). You have until Sunday evening at 7 PM to complete the test and attach your answers to the appropriate link in the "Grades" section. Question 1: Funding a small business is a critical function of small business management. How do the capital requirements vary by the stage a business is in its lifecycle? Which sources of funding are most appropriate for each stage? Explain your reasoning. Question 2: What steps can be taken to protect intellectual property (both domestically and internationally)? In business, do you feel the best defense is a good offense? In other words, in constant innovation and improvement more important than intellectual property protection measures? Explain your reasoning. Question 3: How are market research and marketing strategy connected? Which is the best type of research - primary or secondary research? What role does each type of research play? Would you conduct primary or secondary research first? Why? Question 4: Consider the make-or-buy decision. Give three examples of situations not mentioned in the text in which a business should make rather than buy. Give three examples of situations in which a business should buy, rather than make. Question 5: How would a small business owner determine the right promotional mix? What are the keys to effective messaging? What is meant by a value proposition? What steps can a small business owner take to differentiate their products/

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