Question 1

Luck plays a role in the success of some firms.

Accepted Answer

A) True 
 B)False

Question 2

The most important part of the small business financial plan is the

Accepted Answer

A)  income statement. 
B)  balance sheet. 
C)  inventory analysis. 
D)  cash budget. 
E)  break-even chart. 
A)  income statement. 
B)  balance sheet. 
C)  inventory analysis. 
D)  cash budget. 
E)  break-even chart.

Question 3

Describe the role of entrepreneurship in society.

Accepted Answer

Entrepreneurship plays a crucial role in

Question 4

The most significant change in small business is

Accepted Answer

A)  the increase in the number of male-owned businesses. 
B)  the increase in the number of small business failures. 
C)  the decline in the number of sources of financing for small businesses. 
D)  the rapid emergence of electronic commerce. 
E)  the luring of entrepreneurs back to corporate America for financial security. 
A)  the increase in the number of male-owned businesses. 
B)  the increase in the number of small business failures. 
C)  the decline in the number of sources of financing for small businesses. 
D)  the rapid emergence of electronic commerce. 
E)  the luring of entrepreneurs back to corporate America for financial security.

Question 5

Which of the following statements about recent trends in franchising is TRUE?

Accepted Answer

A)  Franchising grew rapidly but has leveled off at one-third of retail sales. 
B)  Franchising is growing rapidly and is projected to account for half of all retail sales. 
C)  Franchising grew rapidly until about 1975, but its percentage of retail sales is now on the decline. 
D)  Franchising has not been a big factor in U.S. retail sales due to its high costs. 
E)  Franchising has declined in popularity because of the high risk it involves. 
A)  Franchising grew rapidly but has leveled off at one-third of retail sales. 
B)  Franchising is growing rapidly and is projected to account for half of all retail sales. 
C)  Franchising grew rapidly until about 1975, but its percentage of retail sales is now on the decline. 
D)  Franchising has not been a big factor in U.S. retail sales due to its high costs. 
E)  Franchising has declined in popularity because of the high risk it involves.

Question 6

A new business can be started either from scratch or by buying an existing business. Which method seems best to you? Explain your answer.

Accepted Answer

There is no one-size-fits-all answer to

Question 7

The ____ tells how much money is needed to operate a new business.

Accepted Answer

A)  income statement 
B)  profit and loss statement 
C)  cash budget 
D)  t-account 
E)  balance sheet 
A)  income statement 
B)  profit and loss statement 
C)  cash budget 
D)  t-account 
E)  balance sheet

Question 8

A first-mover enters a segment of a market that offers a new opportunity because it is not currently being satisfied.

Accepted Answer

A) True 
 B)False

Question 9

____ are a group of small investors seeking to make profits on companies with rapid growth potential.

Accepted Answer

A)  Intrapreneurs 
B)  Hierarchical allies 
C)  Stakeholders 
D)  Venture capitalists 
E)  Bondholders 
A)  Intrapreneurs 
B)  Hierarchical allies 
C)  Stakeholders 
D)  Venture capitalists 
E)  Bondholders

Question 10

Which of the following is NOT a source of management advice for an entrepreneur?

Accepted Answer

A)  Management consultants 
B)  Small Business Administration (SB
A)  
C)  Networking 
D)  Advisory boards 
E)  Securities and Exchange Commission (SE
C)  
A)  Management consultants 
B)  Small Business Administration (SB
A)  
C)  Networking 
D)  Advisory boards 
E)  Securities and Exchange Commission (SE
C)

Question 11

Less and less often businesses are being started by people who have opted to leave big corporations and put their experience and know-how to work for themselves.

Accepted Answer

A) True 
 B)False

Question 12

More people are discouraged to test their skills as entrepreneurs because the failure rate among small businesses has been increasing in recent years.

Accepted Answer

A) True 
 B)False

Question 13

Why are some small business owners successful in the wholesaling industry?

Accepted Answer

A)  A wholesaling business does not require a large capital investment. 
B)  Small businesses have access to more technology. 
C)  Wholesaling businesses serve more customers than retail businesses. 
D)  Small business owners are able to develop personal working relationships with their buyers. 
E)  All of these choices 
A)  A wholesaling business does not require a large capital investment. 
B)  Small businesses have access to more technology. 
C)  Wholesaling businesses serve more customers than retail businesses. 
D)  Small business owners are able to develop personal working relationships with their buyers. 
E)  All of these choices

Question 14

Any start-up or new venture may succeed and grow to become a large business, succeed but remain small, fail and shut down, or be bought by an existing business.

Accepted Answer

A) True 
 B)False

Question 15

Which of these statements comparing large and small businesses is TRUE?

Accepted Answer

A)  Big businesses outnumber small businesses by a wide margin. 
B)  Tax policies favor medium-sized businesses. 
C)  Small businesses show consistently lower financial performance than big businesses. 
D)  Business success creates jobs regardless of size. 
E)  Small business formations are on the decline, but the rate for big businesses is increasing. 
A)  Big businesses outnumber small businesses by a wide margin. 
B)  Tax policies favor medium-sized businesses. 
C)  Small businesses show consistently lower financial performance than big businesses. 
D)  Business success creates jobs regardless of size. 
E)  Small business formations are on the decline, but the rate for big businesses is increasing.

Question 16

____________________ is when  entrepreneurs post details of their ideas for a start-up or new venture, along with other key information. Would-be investors then peruse the ideas that are posted and decide if they want to help fund the start-up or new venture.

Accepted Answer

The answer of ____________________ is when  entrepreneurs post details of...

Question 17

Professional managers who run someone else's business are not entrepreneurs.

Accepted Answer

A) True 
 B)False

Luck plays a role in the success of some firms.

The most important part of the small business financial plan is the

Describe the role of entrepreneurship in society.

The most significant change in small business is

Which of the following statements about recent trends in franchising is TRUE?

A new business can be started either from scratch or by buying an existing business. Which method seems best to you? Explain your answer.

The ____ tells how much money is needed to operate a new business.

A first-mover enters a segment of a market that offers a new opportunity because it is not currently being satisfied.

____ are a group of small investors seeking to make profits on companies with rapid growth potential.

Which of the following is NOT a source of management advice for an entrepreneur?

Less and less often businesses are being started by people who have opted to leave big corporations and put their experience and know-how to work for themselves.

More people are discouraged to test their skills as entrepreneurs because the failure rate among small businesses has been increasing in recent years.

Why are some small business owners successful in the wholesaling industry?

Any start-up or new venture may succeed and grow to become a large business, succeed but remain small, fail and shut down, or be bought by an existing business.

Which of these statements comparing large and small businesses is TRUE?

____________________ is when entrepreneurs post details of their ideas for a start-up or new venture, along with other key information. Would-be investors then peruse the ideas that are posted and decide if they want to help fund the start-up or new venture.

Professional managers who run someone else's business are not entrepreneurs.

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

Luck plays a role in the success of some firms.

The most important part of the small business financial plan is the

Describe the role of entrepreneurship in society.

The most significant change in small business is

Which of the following statements about recent trends in franchising is TRUE?

A new business can be started either from scratch or by buying an existing business. Which method seems best to you? Explain your answer.

The ____ tells how much money is needed to operate a new business.

A first-mover enters a segment of a market that offers a new opportunity because it is not currently being satisfied.

____ are a group of small investors seeking to make profits on companies with rapid growth potential.

Which of the following is NOT a source of management advice for an entrepreneur?

Less and less often businesses are being started by people who have opted to leave big corporations and put their experience and know-how to work for themselves.

More people are discouraged to test their skills as entrepreneurs because the failure rate among small businesses has been increasing in recent years.

Why are some small business owners successful in the wholesaling industry?

Any start-up or new venture may succeed and grow to become a large business, succeed but remain small, fail and shut down, or be bought by an existing business.

Which of these statements comparing large and small businesses is TRUE?

____________________ is when entrepreneurs post details of their ideas for a start-up or new venture, along with other key information. Would-be investors then peruse the ideas that are posted and decide if they want to help fund the start-up or new venture.

Professional managers who run someone else's business are not entrepreneurs.

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