Question 1

If someone is technically challenged, they should avoid starting a business because e-commerce is where small businesses are finding success.

Accepted Answer

A) True 
 B)False

Question 2

Match between columns
                        Premises: Less freedom to make decisions about suppliers and materials
Characterized by entrepreneurs who try to launch businesses in their spare time
Obtains ongoing access to advice from experts
USAA insurance, marketed only to military families
Has a proven business plan
Next to Normal was the first Broadway show meted out via Twitter
Blinkx, early Internet video search
Can choose suppliers and employees without worrying about existing agreements
Characterized by entrepreneurs who assume common sense and hard work will lead to success
Coca-Cola's entry into South Africa
Southwest Airlines' cheap airfares and minimum service
Historical records answer questions about cash flow problems
Virgin Airlines improved customer service
More difficult to obtain information about projected revenues, cash flow
Entrepreneurs who are overly optimistic about when they will start earning a profit
Cisco shifting one third of engineers to Internet video projects
Has an established relationship with the community
This is needed to alert entrepreneurs to trouble
May not be able to negotiate favorable credit terms with suppliers

Accepted Answer

The Answer of Starting a business from scratch and Identifying is...

Question 3

Under the guidance of the ____, veteran business professors and students seeking advanced degrees work with small business owners to help solve specific problems like shoplifting and ineffectual advertising.

Accepted Answer

A)  Active Corps of Executives (AC
E)  
B)  National Federation of Independent Businesses (NFI
B)  
C)  Small Business Development Center (SBD
C)  
D)  Small Business Institute (SBI) 
E)  Service Corps of Retired Executives (SCOR
E)  
A)  Active Corps of Executives (AC
E)  
B)  National Federation of Independent Businesses (NFI
B)  
C)  Small Business Development Center (SBD
C)  
D)  Small Business Institute (SBI) 
E)  Service Corps of Retired Executives (SCOR
E)

Question 4

Which of the following describes an entrepreneur?

Accepted Answer

A)  Richard Ames, an investor in Red Raider, which is run by his two partners 
B)  Chad Olsen, who hired a consulting firm to research his business idea and help him set up Help-Doc, which he now manages 
C)  James Hill, who owns Midtown TV but works as a Motorola engineer 
D)  Sidney Pell, who runs Midtown TV for its owner, James Hill 
E)  None of these choices 
A)  Richard Ames, an investor in Red Raider, which is run by his two partners 
B)  Chad Olsen, who hired a consulting firm to research his business idea and help him set up Help-Doc, which he now manages 
C)  James Hill, who owns Midtown TV but works as a Motorola engineer 
D)  Sidney Pell, who runs Midtown TV for its owner, James Hill 
E)  None of these choices

Question 5

Most experts say that anyone opening a new business should be financially strong enough to operate without business income for

Accepted Answer

A)  1 − 3 months. 
B)  3 − 6 months. 
C)  6 − 12 months. 
D)  1 − 3 years. 
E)  2 − 5 years. 
A)  1 − 3 months. 
B)  3 − 6 months. 
C)  6 − 12 months. 
D)  1 − 3 years. 
E)  2 − 5 years.

Question 6

The most significant disadvantage to franchising as a means of acquiring a business is

Accepted Answer

A)  the amount of paperwork. 
B)  the absence of economies of scale. 
C)  high start-up costs. 
D)  government regulation. 
E)  low break-even points. 
A)  the amount of paperwork. 
B)  the absence of economies of scale. 
C)  high start-up costs. 
D)  government regulation. 
E)  low break-even points.

Question 7

A(n) ____________________ is an enterprise with sales and assets that are not large enough to influence its environment.

Accepted Answer

The answer of A(n) ____________________ is an enterprise with sales...

Question 8

According to the Small Business Administration, small businesses account for a small percentage of all U.S. exports.

Accepted Answer

A) True 
 B)False

Question 9

What are the latest trends in new business start-ups?  Why is it happening?

Accepted Answer

The latest trends in new business start-

Question 10

Small business ⎯ especially in certain industries ⎯ is an important source of new (and often well-paid) jobs in the United States.

Accepted Answer

A) True 
 B)False

Question 11

____________________ businesses provide ____________________ businesses with many of the services, supplies, and raw materials they need.

Accepted Answer

The answer of ____________________ businesses provide ____________________ businesses with many...

Question 12

Four general factors contribute to the failure rate of small businesses. They include

Accepted Answer

A)  managerial inexperience. 
B)  overcapitalization. 
C)  rapid growth. 
D)  the lack of an innovative spirit. 
E)  managerial competence. 
A)  managerial inexperience. 
B)  overcapitalization. 
C)  rapid growth. 
D)  the lack of an innovative spirit. 
E)  managerial competence.

Question 13

Sara Blakely developed the idea to make Spanx undergarments. She filed a patent and researched production. She now sells Spanx through department stores. She is an example of a(n)

Accepted Answer

A)  intrapreneur. 
B)  leaseholder. 
C)  venture capitalist. 
D)  entrepreneur. 
E)  franchisee. 
A)  intrapreneur. 
B)  leaseholder. 
C)  venture capitalist. 
D)  entrepreneur. 
E)  franchisee.

Question 14

Whole Foods has succeeded in bringing natural foods to mainstream retail. A small business entering the natural food retail market would have a(n)

Accepted Answer

A)  established market competitor. 
B)  advantage due to size. 
C)  niche market. 
D)  price advantage. 
E)  advantage in exporting. 
A)  established market competitor. 
B)  advantage due to size. 
C)  niche market. 
D)  price advantage. 
E)  advantage in exporting.

Question 15

Part of starting a business is assessing the industry and also a self-assessment by the business owner of her own ____________________ .

Accepted Answer

The answer of Part of starting a business is assessing...

Question 16

Primarily because they require few resources, ____________________ businesses are the fastest-growing segment of small-business enterprise.

Accepted Answer

The answer of Primarily because they require few resources, ____________________...

Question 17

Which of the following is an example of identifying a new niche in an established market?

Accepted Answer

A)  Modifying a cell phone keyboard to alphabetical order 
B)  Reducing the number of outlets that sell computers 
C)  Reducing the price of a printer so that it is more affordable 
D)  Introducing a new computer in an industrialized country 
E)  Designing a computer that can control traffic flow on a freeway 
A)  Modifying a cell phone keyboard to alphabetical order 
B)  Reducing the number of outlets that sell computers 
C)  Reducing the price of a printer so that it is more affordable 
D)  Introducing a new computer in an industrialized country 
E)  Designing a computer that can control traffic flow on a freeway

Question 18

Bai5 is a beverage company "born and raised in Princeton NJ."  The beverages come in a variety of flavors, with 5 calories per serving, no carbonation, and lots of antioxidants.  In a beverage market that is dominated by Coca-Cola and Pepsi, Bai5 is an example of

Accepted Answer

A)  identifying a niche. 
B)  a company with a first-mover advantage. 
C)  a distribution company. 
D)  a new market identifier. 
E)  a product assimilator. 
A)  identifying a niche. 
B)  a company with a first-mover advantage. 
C)  a distribution company. 
D)  a new market identifier. 
E)  a product assimilator.

Question 19

In terms of the number of new jobs formed each year, how does small business compare to big business?

Accepted Answer

A)  Small business creates more than 99 percent of the new jobs. 
B)  Big business loses the most jobs each year. 
C)  Small business was recently passed by big business in creating new jobs 
D)  Business success creates jobs regardless of size. 
E)  Big business is responsible for nearly all of the new jobs created. 
A)  Small business creates more than 99 percent of the new jobs. 
B)  Big business loses the most jobs each year. 
C)  Small business was recently passed by big business in creating new jobs 
D)  Business success creates jobs regardless of size. 
E)  Big business is responsible for nearly all of the new jobs created.

Question 20

The more resources an industry requires, the harder it is to start a business and the less likely that the industry is dominated by small firms.

Accepted Answer

A) True 
 B)False

If someone is technically challenged, they should avoid starting a business because e-commerce is where small businesses are finding success.

Under the guidance of the ____, veteran business professors and students seeking advanced degrees work with small business owners to help solve specific problems like shoplifting and ineffectual advertising.

Which of the following describes an entrepreneur?

Most experts say that anyone opening a new business should be financially strong enough to operate without business income for

The most significant disadvantage to franchising as a means of acquiring a business is

A(n) ____________________ is an enterprise with sales and assets that are not large enough to influence its environment.

According to the Small Business Administration, small businesses account for a small percentage of all U.S. exports.

What are the latest trends in new business start-ups? Why is it happening?

Small business ⎯ especially in certain industries ⎯ is an important source of new (and often well-paid) jobs in the United States.

businesses provide businesses with many of the services, supplies, and raw materials they need.

Four general factors contribute to the failure rate of small businesses. They include

Sara Blakely developed the idea to make Spanx undergarments. She filed a patent and researched production. She now sells Spanx through department stores. She is an example of a(n)

Whole Foods has succeeded in bringing natural foods to mainstream retail. A small business entering the natural food retail market would have a(n)

Part of starting a business is assessing the industry and also a self-assessment by the business owner of her own ____________________ .

Primarily because they require few resources, ____________________ businesses are the fastest-growing segment of small-business enterprise.

Which of the following is an example of identifying a new niche in an established market?

Bai5 is a beverage company "born and raised in Princeton NJ." The beverages come in a variety of flavors, with 5 calories per serving, no carbonation, and lots of antioxidants. In a beverage market that is dominated by Coca-Cola and Pepsi, Bai5 is an example of

In terms of the number of new jobs formed each year, how does small business compare to big business?

The more resources an industry requires, the harder it is to start a business and the less likely that the industry is dominated by small firms.

Managing and the Managers Job

Traditional and Contemporary Opportunitieschallenges

Understanding the Organizations Environment

Responding to the Ethical and Social Environment

Navigating the Global Environment

Basic Elements of Planning and Decision Making

Managing Strategy and Strategic Planning

Managing Decision Making and Problem Solving

Basic Elements of Organizing

Managing Organization Design

Managing Organization Change and Innovation

Managing Human Resources

Basic Elements of Individual and Interpersonal Behavior

Managing Employee Motivation and Performance

Managing Leadership and Influence Process

Managing Interpersonal Relations and Communication

Managing Work Groups and Teams

Basic Elements of Control

Managing Operations, Quality and Productivity

Filters

Exam 9: Managing Start-Ups and New Ventures

If someone is technically challenged, they should avoid starting a business because e-commerce is where small businesses are finding success.

Under the guidance of the ____, veteran business professors and students seeking advanced degrees work with small business owners to help solve specific problems like shoplifting and ineffectual advertising.

Which of the following describes an entrepreneur?

Most experts say that anyone opening a new business should be financially strong enough to operate without business income for

The most significant disadvantage to franchising as a means of acquiring a business is

A(n) ____________________ is an enterprise with sales and assets that are not large enough to influence its environment.

According to the Small Business Administration, small businesses account for a small percentage of all U.S. exports.

What are the latest trends in new business start-ups? Why is it happening?

Small business ⎯ especially in certain industries ⎯ is an important source of new (and often well-paid) jobs in the United States.

____________________ businesses provide ____________________ businesses with many of the services, supplies, and raw materials they need.

Four general factors contribute to the failure rate of small businesses. They include

Sara Blakely developed the idea to make Spanx undergarments. She filed a patent and researched production. She now sells Spanx through department stores. She is an example of a(n)

Whole Foods has succeeded in bringing natural foods to mainstream retail. A small business entering the natural food retail market would have a(n)

Part of starting a business is assessing the industry and also a self-assessment by the business owner of her own ____________________ .

Primarily because they require few resources, ____________________ businesses are the fastest-growing segment of small-business enterprise.

Which of the following is an example of identifying a new niche in an established market?

Bai5 is a beverage company "born and raised in Princeton NJ." The beverages come in a variety of flavors, with 5 calories per serving, no carbonation, and lots of antioxidants. In a beverage market that is dominated by Coca-Cola and Pepsi, Bai5 is an example of

In terms of the number of new jobs formed each year, how does small business compare to big business?

The more resources an industry requires, the harder it is to start a business and the less likely that the industry is dominated by small firms.

Managing and the Managers Job

Traditional and Contemporary Opportunitieschallenges

Understanding the Organizations Environment

Responding to the Ethical and Social Environment

Navigating the Global Environment

Basic Elements of Planning and Decision Making

Managing Strategy and Strategic Planning

Managing Decision Making and Problem Solving

Basic Elements of Organizing

Managing Organization Design

Managing Organization Change and Innovation

Managing Human Resources

Basic Elements of Individual and Interpersonal Behavior

Managing Employee Motivation and Performance

Managing Leadership and Influence Process

Managing Interpersonal Relations and Communication

Managing Work Groups and Teams

Basic Elements of Control

Managing Operations, Quality and Productivity

Filters

businesses provide businesses with many of the services, supplies, and raw materials they need.