Exam 2: The Entrepreneurial Process

The term 'free cash flow' generally refers to:

The Small Business Administration's Service Core of Retired Executives provides paid assistance to entrepreneurs.

Commonly outsourced responsibilities include all of the following except:

Having multiple layers of management is the best way to ensure that a startup is flexible and quick to react to changes.

Which of the following is not cited by the chapter as a primary reason that entrepreneurs choose to go into business for themselves?

A serial entrepreneur is someone who starts multiple companies, one right after the other.

A majority of companies require at least $100,000 to begin operations.

For a company that goes public, the founding entrepreneur typically owns a majority of the shares of the corporation.

Often start-ups can reduce overhead by using outside firms for…

Marginal cost is a term that refers to expenses that are difficult to justify in an entrepreneurial environment.

Why do you suppose the authors say that in entrepreneurship, "Ideas are a dime a dozen,"? What does this statement imply about an idea's importance to a successful business?

The two types of startup capital are debt and equity.

How can an entrepreneur's location improve chances for success?

What is 'free cash flow' and why is it such a critical factor for a growing business?

Which of the following is not a critical component for a successful new business?

The most famous geographic region for high-tech entrepreneurship is in California and often referred to as, "Silicon Valley."

For fledgling entrepreneurs, there are few free resources available for input and guidance.

Which of the following is not one of the Nine Fs of Entrepreneurial Success?

The factors that give birth to a new enterprise and influence its development can be categorized as

Generally speaking, entrepreneurs have a stronger need to be in control of their own fate.