Question

ABC Inc. company, founded by three women who met in college, has recruited talented people since its inception. It now employs approximately 350 people. Once a month a meeting is held where anyone can present new ideas to management. Coming out of these meetings, presenters have 30 days to work on a proof of concept or prototype, after which management makes a decision to pursue an idea company-wide or drop it. If an idea is selected, the individual(s) who presented the ideas receive a cash bonus. Based on this information, what kind of company is ABC Inc.?

Answer 1

Answer:

small business entrepreneurship

Explanation:

This is an entrepreneurship because it was created by three entrepreneurs (people who start their own businesses) that focus on creating their own new products.

It is also classified as a small business because it has less than 500 employees, and since we don't know their total revenue (small businesses have up to $35.5 million in total sales), that is the only parameter we can use.