Author Question: Two years ago, Cameron Jones and Mary Scott each owned a small chain of smoothie restaurants in New ... (Read 119 times)

cookcarl · **on:** Jul 6, 2018

Two years ago, Cameron Jones and Mary Scott each owned a small chain of smoothie restaurants in New York City. Just recently, they decided to pool their interests and combine their individual chains of restaurants into one chain.

What Cameron and Mary did with their firms is called a(n) ________.
A) licensing agreement
B) strategic alliance
C) acquisition
D) joint venture
E) merger

Question 2

What is an elevator speech? How did it get its name?

What will be an ideal response?

srodz · **Reply #1 on:** Jul 6, 2018

Answer to Question 1

E

Answer to Question 2

An elevator speech is a brief, carefully constructed statement that outlines the merits of a business opportunity. Why is it called an elevator speech? If an entrepreneur stepped into an elevator on the 25th floor of a building and found that by a stroke of luck a potential investor was in the same elevator, the entrepreneur would have the time it takes to get from the 25th floor to the ground floor to try to get the investor interested in his or her business opportunity. In the same fashion, entrepreneurs typically only have a few short minutes to interest any investor in a business opportunity, whether it is in an elevator or any other setting.