Exam 6: Entrepreneurship and Starting a Small Business

Manuel is focusing his attention on finding full-time employment now that he has graduated. He has decided to narrow his job search to jobs with a major corporation and ignore the possibility of working for a small business. His job search strategy

State governments create new start-up business organizations called enterprise zones that are later sold to private investors.

In order to secure financing for Bitty Bytes, a mobile bakery business that services several large Silicon Valley firms, Betty demonstrated her unwavering aspiration to get her business started by visiting several bankers with ________.

It is important for an entrepreneur to be highly energetic.

The Small Business Administration sponsors volunteers from industry, trade associations, and education who offer advice to small business owners. These volunteers are called:

Which of the following suggestions would an experienced business owner offer to help someone who is thinking about starting a business venture?

Potential suppliers can be an excellent source of financing for a new business since lending money to a new customer may be very much in their own interest.

Discuss the benefits exporting offers to small businesses. Given these benefits, why don't more small firms sell in international markets?

When writing a business plan, prospective entrepreneurs should remember to omit details regarding their experience and education since investors are only interested in the proposed business.

Mini-Case Pepe Pieman believes that pizza is a much more versatile meal than most people realize. As the national marketing manager for Pizza Pals, he has watched how consumers ate up barbecue pizza, Hawaiian pizza, Mexican pizza, and other new and unique combinations. His superiors, however, met his suggestions for other unusual pizzas with a negative response. Even some of his teammates laughed at his ideas. Pepe's confidence in his ability to understand the market has led him to focus on planning a business of his own. Pepe realizes that he will take a risk when he leaves his job with Pizza Pals and sets off on a new endeavor: Pepe's Pizzazzeria. Pepe is excited about the potential of profitably catering to the unmet desires of pizza consumers. -Pepe is positive he knows a lot about marketing. But he is not as confident in his skills within the legal or financial aspects of starting a new business. He wants to consult with a lawyer and accountant, but his budget is tight with all of the expenses involved in getting Pepe's Pizzazzeria up and running. Pepe should

If you are trying to prevent failure, it is a good idea to go into the business with good record-keeping techniques.

State and local governments often act as venture capitalists.

About 80% of U.S. workers find their first job in small business.

Lily, an upperclassman at Riverside College, hopes to start her own business after graduation. In an effort to learn as much as she can about small business management, she talked to four friends who each offered their advice. Which of these suggestions is likely to help her the most?

According to SBA guidelines, a manufacturing firm with 1,000 employees

The executive summary section of the business plan contains

Most business opportunities offer entrepreneurs high levels of security and profits.

To be considered part of a market, an individual must

The goal of an intrapreneur is to

A(n) ________ is a valuable source of information regarding techniques to reduce a firm's exposure to risk.