Question 1

Small businesses represent _____ percent of all firms and employ about half of all private sector employees.

Accepted Answer

A)  87 
B)  22 
C)  98 
D)  54 
E)  72 
A)  87 
B)  22 
C)  98 
D)  54 
E)  72

Question 2

A need to achieve is a psychological characteristic that means people are motivated to excell and pick situations in which success is likely.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following is the most cited source of new business ideas?

Accepted Answer

A)  Brainstorming 
B)  In-depth understanding of industry/profession 
C)  A hobby 
D)  Copying someone else 
E)  None of these 
A)  Brainstorming 
B)  In-depth understanding of industry/profession 
C)  A hobby 
D)  Copying someone else 
E)  None of these

Question 4

Entrepreneurship and small business in the United States is an engine for _____ and _____.

Accepted Answer

job creati

Question 5

_____ is the psychological characteristic that allows a person to be untroubled by disorder and uncertainty.

Accepted Answer

Tolerance

Question 6

The first step in pursuing an entrepreneurial dream is to come up with a viable idea.

Accepted Answer

A) True 
 B)False

Question 7

Max is the Web site manager for a local florist. The company's owner would like Max to redesign the Web site so that customers can connect directly with florist employees on a daily basis about products and specials. This relates to which step in establishing an online business?

Accepted Answer

A)  Finding a niche market 
B)  Creating a professional Web site 
C)  Choosing a target market 
D)  Choosing a domain name 
E)  Building online relationships 
A)  Finding a niche market 
B)  Creating a professional Web site 
C)  Choosing a target market 
D)  Choosing a domain name 
E)  Building online relationships

Question 8

Entrepreneurship and small business in the United States is an engine for job creation and innovation.

Accepted Answer

A) True 
 B)False

Question 9

The majority of the incubators are operated by:

Accepted Answer

A)  large corporations. 
B)  non-profit organizations. 
C)  small businesses. 
D)  international businesses. 
E)  college drop-outs. 
A)  large corporations. 
B)  non-profit organizations. 
C)  small businesses. 
D)  international businesses. 
E)  college drop-outs.

Question 10

Scenario - Holly and Trent 
While many others dreamed about owning their own business, Holly Gabrel decided to do something about it. Holly knew that being self-employed required long hours and hard work, but with the help of her husband, Trent, Holly was positive that the hours and the work would be rewarded. First, she and Trent developed a new concept in sunglasses that could be used by athletes better than the sunglasses now on the market. Holly and Trent obtained a patent on their invention, and began production and marketing.
-If the business is legally Holly's, then the business form would be:

Accepted Answer

A)  proprietorship. 
B)  partnership. 
C)  corporation. 
D)  chapter S42.5. 
E)  none of these. 
A)  proprietorship. 
B)  partnership. 
C)  corporation. 
D)  chapter S42.5. 
E)  none of these.

Question 11

Scenario - Holly and Trent 
While many others dreamed about owning their own business, Holly Gabrel decided to do something about it. Holly knew that being self-employed required long hours and hard work, but with the help of her husband, Trent, Holly was positive that the hours and the work would be rewarded. First, she and Trent developed a new concept in sunglasses that could be used by athletes better than the sunglasses now on the market. Holly and Trent obtained a patent on their invention, and began production and marketing.
-After fully developing their new business idea, Holly and Trent recognize the need to develop a business plan. Typical business plans will include all of the following, except:

Accepted Answer

A)  mission or vision of the company. 
B)  information about the suppliers. 
C)  policy for extending credit to customers. 
D)  analysis of critical risks that threaten success. 
E)  all of these should be included. 
A)  mission or vision of the company. 
B)  information about the suppliers. 
C)  policy for extending credit to customers. 
D)  analysis of critical risks that threaten success. 
E)  all of these should be included.

Question 12

If a small business owner enjoys the chance to balance work and personal life, he would be considered a(n) _____.

Accepted Answer

A)  idealist 
B)  optimizer 
C)  hard worker 
D)  juggler 
E)  sustainer 
A)  idealist 
B)  optimizer 
C)  hard worker 
D)  juggler 
E)  sustainer

Question 13

Today, inspired by the growth of companies such as Amazon.com, entrepreneurs are flocking to the _____ to start new businesses.

Accepted Answer

A)  Small Business Administration 
B)  Internet 
C)  bookstore 
D)  mall 
E)  Internal Revenue Service 
A)  Small Business Administration 
B)  Internet 
C)  bookstore 
D)  mall 
E)  Internal Revenue Service

Question 14

A human quality linked to entrepreneurship in which people are motivated to excel and pick situations in which success is likely is called the _____.

Accepted Answer

The answer of A human quality linked to entrepreneurship in...

Question 15

The most common reason for becoming an entrepreneur is:

Accepted Answer

A)  joining the family business. 
B)  to control one's future. 
C)  to be one's own boss. 
D)  to fulfill a dream. 
E)  the result of being laid off. 
A)  joining the family business. 
B)  to control one's future. 
C)  to be one's own boss. 
D)  to fulfill a dream. 
E)  the result of being laid off.

Question 16

What are the two principal advantages of forming a corporation?

Accepted Answer

A)  Unlimited liability and potential conflicts with partners 
B)  Freedom from debt and relatively simple structure 
C)  Continuity and limits on owner's liability 
D)  Unlimited liability and continuity 
E)  Continuity and non-tax structure 
A)  Unlimited liability and potential conflicts with partners 
B)  Freedom from debt and relatively simple structure 
C)  Continuity and limits on owner's liability 
D)  Unlimited liability and continuity 
E)  Continuity and non-tax structure

Question 17

What is the fundamental difference between the suppliers of debt and equity financing?

Accepted Answer

Suppliers of debt financing will have th

Question 18

Social entrepreneurs are committed to both good business and:

Accepted Answer

A)  swaying political opinion of consumers. 
B)  improving the natural environment. 
C)  positive social change. 
D)  non-profit goals. 
E)  big profits. 
A)  swaying political opinion of consumers. 
B)  improving the natural environment. 
C)  positive social change. 
D)  non-profit goals. 
E)  big profits.

Question 19

Name and describe the five different categories of small business owners.

Accepted Answer

The five categories are idealists, optim

Question 20

A(n) _____ is an unincorporated business owned by two or more people.

Accepted Answer

The answer of A(n) _____ is an unincorporated business owned...

Small businesses represent _____ percent of all firms and employ about half of all private sector employees.

A need to achieve is a psychological characteristic that means people are motivated to excell and pick situations in which success is likely.

Which of the following is the most cited source of new business ideas?

Entrepreneurship and small business in the United States is an engine for _ and _.

_____ is the psychological characteristic that allows a person to be untroubled by disorder and uncertainty.

The first step in pursuing an entrepreneurial dream is to come up with a viable idea.

Max is the Web site manager for a local florist. The company's owner would like Max to redesign the Web site so that customers can connect directly with florist employees on a daily basis about products and specials. This relates to which step in establishing an online business?

Entrepreneurship and small business in the United States is an engine for job creation and innovation.

The majority of the incubators are operated by:

If a small business owner enjoys the chance to balance work and personal life, he would be considered a(n) _____.

Today, inspired by the growth of companies such as Amazon.com, entrepreneurs are flocking to the _____ to start new businesses.

A human quality linked to entrepreneurship in which people are motivated to excel and pick situations in which success is likely is called the _____.

The most common reason for becoming an entrepreneur is:

What are the two principal advantages of forming a corporation?

What is the fundamental difference between the suppliers of debt and equity financing?

Social entrepreneurs are committed to both good business and:

Name and describe the five different categories of small business owners.

A(n) _____ is an unincorporated business owned by two or more people.

The World of Innovative Management

The Evolution of Management Thinking

The Environment and Corporate Culture

Managing in a Global Environment

Managing Ethics and Social Responsibility

Managerial Planning and Goal Setting

Strategy Formulation and Execution

Managerial Decision Making

Designing Organization Structure

Managing Change and Innovation

Managing Human Resource

Managing Diversity

Understanding Individual Behavior

Leadership

Motivating Employees

Managing Communication

Leading Teams

Managing Quality and Performance

Filters

Exam 6: Managing Start Ups and New Ventures

Small businesses represent _____ percent of all firms and employ about half of all private sector employees.

A need to achieve is a psychological characteristic that means people are motivated to excell and pick situations in which success is likely.

Which of the following is the most cited source of new business ideas?

Entrepreneurship and small business in the United States is an engine for _____ and _____.

_____ is the psychological characteristic that allows a person to be untroubled by disorder and uncertainty.

The first step in pursuing an entrepreneurial dream is to come up with a viable idea.

Max is the Web site manager for a local florist. The company's owner would like Max to redesign the Web site so that customers can connect directly with florist employees on a daily basis about products and specials. This relates to which step in establishing an online business?

Entrepreneurship and small business in the United States is an engine for job creation and innovation.

The majority of the incubators are operated by:

If a small business owner enjoys the chance to balance work and personal life, he would be considered a(n) _____.

Today, inspired by the growth of companies such as Amazon.com, entrepreneurs are flocking to the _____ to start new businesses.

A human quality linked to entrepreneurship in which people are motivated to excel and pick situations in which success is likely is called the _____.

The most common reason for becoming an entrepreneur is:

What are the two principal advantages of forming a corporation?

What is the fundamental difference between the suppliers of debt and equity financing?

Social entrepreneurs are committed to both good business and:

Name and describe the five different categories of small business owners.

A(n) _____ is an unincorporated business owned by two or more people.

The World of Innovative Management

The Evolution of Management Thinking

The Environment and Corporate Culture

Managing in a Global Environment

Managing Ethics and Social Responsibility

Managerial Planning and Goal Setting

Strategy Formulation and Execution

Managerial Decision Making

Designing Organization Structure

Managing Change and Innovation

Managing Human Resource

Managing Diversity

Understanding Individual Behavior

Leadership

Motivating Employees

Managing Communication

Leading Teams

Managing Quality and Performance

Filters

Entrepreneurship and small business in the United States is an engine for _ and _.