Question 1

When buying a business, which of the following is not a factor to consider when investigating the competition?

Accepted Answer

A) effect of price competition on profits 
B) reduction of market share 
C) advertising costs 
D) number of employees 
A) effect of price competition on profits 
B) reduction of market share 
C) advertising costs 
D) number of employees

Question 2

Which of the following is an often overlooked asset when acquiring a new business?

Accepted Answer

A) records 
B) buildings 
C) equipment 
D) employees 
A) records 
B) buildings 
C) equipment 
D) employees

Question 3

In purchasing an existing business, the first question should be: "Why are you selling?"

Accepted Answer

A) True 
 B)False

Question 4

Innovation newness-technology newness and/or market newness-is linked with the level of innovation newness-incremental versus _____ innovations-to classify the overall "newness" of an innovation within an entrepreneurial venture.

Accepted Answer

A) tapered 
B) phased 
C) radical 
D) abrupt 
A) tapered 
B) phased 
C) radical 
D) abrupt

Question 5

A(n) _____ approach indicates the importance of people's awareness of their daily lives for developing new business ideas.

Accepted Answer

A) new-new 
B) old-old 
C) old-new 
D) new-old 
A) new-new 
B) old-old 
C) old-new 
D) new-old

Question 6

The advantages of franchising do not include

Accepted Answer

A) training and guidance. 
B) brand-name appeal. 
C) a proven track record. 
D) franchise fees. 
A) training and guidance. 
B) brand-name appeal. 
C) a proven track record. 
D) franchise fees.

Question 7

The individual who arranges for a dealer to handle a specific product or service under certain mutually agreed-upon conditions is known as the

Accepted Answer

A) franchisee. 
B) franchisor. 
C) proprietor. 
D) partner. 
A) franchisee. 
B) franchisor. 
C) proprietor. 
D) partner.

Question 8

It is always important that you weigh advantages against disadvantages in purchasing a franchise.

Accepted Answer

A) True 
 B)False

Question 9

Entrepreneurs who exploit a radical new technology to provide a product and radically disrupt the market through the creation of a new product space represent the highest level of innovation "newness" relative to other alternatives.

Accepted Answer

A) True 
 B)False

Question 10

An entity that helps new ventures to develop by providing services such as management training and office space is called an entrepreneurial ecosystem.

Accepted Answer

A) True 
 B)False

Question 11

A _____ is a system of distribution that enables a supplier to arrange for a dealer to handle a specific product or service under certain mutually agreed-upon conditions.

Accepted Answer

A) franchisee 
B) franchise 
C) franchisor 
D) supply chain 
A) franchisee 
B) franchise 
C) franchisor 
D) supply chain

Question 12

Briefly explain the new-old approach to creating new ventures.

Accepted Answer

Most small ventures do not start with a

Question 13

Which of the following is not considered by entrepreneurs when examining opportunities for possible ventures?

Accepted Answer

A) business brokers 
B) newspaper ads 
C) the cost of replacing an employee 
D) professional sources 
A) business brokers 
B) newspaper ads 
C) the cost of replacing an employee 
D) professional sources

Question 14

Business-related reasons for selling may include all of the following except

Accepted Answer

A) trouble with suppliers. 
B) changes in leasehold conditions. 
C) changes in zoning that affect the business. 
D) changes in location. 
A) trouble with suppliers. 
B) changes in leasehold conditions. 
C) changes in zoning that affect the business. 
D) changes in location.

Question 15

Which of the following is not an advantage to buying a franchise business?

Accepted Answer

A) training and guidance 
B) financial assistance 
C) brand-name appeal 
D) structured fees 
A) training and guidance 
B) financial assistance 
C) brand-name appeal 
D) structured fees

Question 16

The buyer is likely to have power over the seller in the negotiation to purchase a business if

Accepted Answer

A) the seller has already purchased another business. 
B) potential buyers are numerous. 
C) the buyer's backers wish to invest quickly. 
D) the seller has no deadline for selling. 
A) the seller has already purchased another business. 
B) potential buyers are numerous. 
C) the buyer's backers wish to invest quickly. 
D) the seller has no deadline for selling.

Question 17

Which of the following is not considered an emerging Internet opportunity?

Accepted Answer

A) niche consumables 
B) educational tutoring 
C) mobile advertising 
D) nanotechnology 
A) niche consumables 
B) educational tutoring 
C) mobile advertising 
D) nanotechnology

Question 18

Competitor factors in a buying decision do not include

Accepted Answer

A) quality of the competition. 
B) location of the competition. 
C) age of the competition's owners. 
D) number of competitors. 
A) quality of the competition. 
B) location of the competition. 
C) age of the competition's owners. 
D) number of competitors.

Question 19

The person who sells the franchise is usually required to do all of the following except

Accepted Answer

A) pay a fee. 
B) provide professional management training to the unit's staff. 
C) help out with financial assistance. 
D) provide continuing aid and guidance to the person buying the franchise. 
A) pay a fee. 
B) provide professional management training to the unit's staff. 
C) help out with financial assistance. 
D) provide continuing aid and guidance to the person buying the franchise.

Question 20

A new business faces two great dangers: the possibility that it will not find a market for its goods or services and the chance that

Accepted Answer

A) it will not be able to control its costs. 
B) the profits of the business and losses are too great to survive. 
C) it will not be able to retain great employees. 
D) the entrepreneur will lose his or her passion for the business. 
A) it will not be able to control its costs. 
B) the profits of the business and losses are too great to survive. 
C) it will not be able to retain great employees. 
D) the entrepreneur will lose his or her passion for the business.

When buying a business, which of the following is not a factor to consider when investigating the competition?

Which of the following is an often overlooked asset when acquiring a new business?

In purchasing an existing business, the first question should be: "Why are you selling?"

Innovation newness-technology newness and/or market newness-is linked with the level of innovation newness-incremental versus _____ innovations-to classify the overall "newness" of an innovation within an entrepreneurial venture.

A(n) _____ approach indicates the importance of people's awareness of their daily lives for developing new business ideas.

The advantages of franchising do not include

The individual who arranges for a dealer to handle a specific product or service under certain mutually agreed-upon conditions is known as the

It is always important that you weigh advantages against disadvantages in purchasing a franchise.

Entrepreneurs who exploit a radical new technology to provide a product and radically disrupt the market through the creation of a new product space represent the highest level of innovation "newness" relative to other alternatives.

An entity that helps new ventures to develop by providing services such as management training and office space is called an entrepreneurial ecosystem.

A _____ is a system of distribution that enables a supplier to arrange for a dealer to handle a specific product or service under certain mutually agreed-upon conditions.

Briefly explain the new-old approach to creating new ventures.

Which of the following is not considered by entrepreneurs when examining opportunities for possible ventures?

Business-related reasons for selling may include all of the following except

Which of the following is not an advantage to buying a franchise business?

The buyer is likely to have power over the seller in the negotiation to purchase a business if

Which of the following is not considered an emerging Internet opportunity?

Competitor factors in a buying decision do not include

The person who sells the franchise is usually required to do all of the following except

A new business faces two great dangers: the possibility that it will not find a market for its goods or services and the chance that

Entrepreneurship Evolutionary Development--Revolutionary Impact

The Entrepreneurial Mind-Set in Individuals: Cognition and Ethics

The Entrepreneurial Mind-Set in Organizations: Corporate Entrepreneurship

Social Entrepreneurship and the Global Environment for Entrepreneurship

Innovation: the Creative Pursuit of Ideas

Assessment of Entrepreneurial Opportunities

Sources of Capital for Entrepreneurial Ventures

Legal Challenges for Entrepreneurial Ventures

Marketing Research for Entrepreneurial Ventures

Financial Preparation for Entrepreneurial Ventures

Developing an Effective Business Plan

Strategic Entrepreneurial Growth

Valuation of Entrepreneurial Ventures

Harvesting Entrepreneurial Ventures

Filters

Exam 7: Pathways to Entrepreneurial Ventures

When buying a business, which of the following is not a factor to consider when investigating the competition?

Which of the following is an often overlooked asset when acquiring a new business?

In purchasing an existing business, the first question should be: "Why are you selling?"

Innovation newness-technology newness and/or market newness-is linked with the level of innovation newness-incremental versus _____ innovations-to classify the overall "newness" of an innovation within an entrepreneurial venture.

A(n) _____ approach indicates the importance of people's awareness of their daily lives for developing new business ideas.

The advantages of franchising do not include

The individual who arranges for a dealer to handle a specific product or service under certain mutually agreed-upon conditions is known as the

It is always important that you weigh advantages against disadvantages in purchasing a franchise.

Entrepreneurs who exploit a radical new technology to provide a product and radically disrupt the market through the creation of a new product space represent the highest level of innovation "newness" relative to other alternatives.

An entity that helps new ventures to develop by providing services such as management training and office space is called an entrepreneurial ecosystem.

A _____ is a system of distribution that enables a supplier to arrange for a dealer to handle a specific product or service under certain mutually agreed-upon conditions.

Briefly explain the new-old approach to creating new ventures.

Which of the following is not considered by entrepreneurs when examining opportunities for possible ventures?

Business-related reasons for selling may include all of the following except

Which of the following is not an advantage to buying a franchise business?

The buyer is likely to have power over the seller in the negotiation to purchase a business if

Which of the following is not considered an emerging Internet opportunity?

Competitor factors in a buying decision do not include

The person who sells the franchise is usually required to do all of the following except

A new business faces two great dangers: the possibility that it will not find a market for its goods or services and the chance that

Entrepreneurship Evolutionary Development--Revolutionary Impact

The Entrepreneurial Mind-Set in Individuals: Cognition and Ethics

The Entrepreneurial Mind-Set in Organizations: Corporate Entrepreneurship

Social Entrepreneurship and the Global Environment for Entrepreneurship

Innovation: the Creative Pursuit of Ideas

Assessment of Entrepreneurial Opportunities

Sources of Capital for Entrepreneurial Ventures

Legal Challenges for Entrepreneurial Ventures

Marketing Research for Entrepreneurial Ventures

Financial Preparation for Entrepreneurial Ventures

Developing an Effective Business Plan

Strategic Entrepreneurial Growth

Valuation of Entrepreneurial Ventures

Harvesting Entrepreneurial Ventures

Filters