Exam 6: Managing Start Ups and New Ventures

An advantage of which of these tactics is that there is a shorter start-up time and an existing track record?

Women and minorities who have found their opportunities limited in the corporate world are seeing intrapreneurship as the only way to go.

The Small Business Administration (SBA) can provide loan financing for small business start-up.

Social entrepreneurs have a primary goal of improving society rather than maximizing profits.

What is tolerance for ambiguity? Why is it an important trait?

Blake, Madison and Sean started selling computer software on college campuses under the name Student Software Company. Each person contributed $1500 toward start-up costs and agreed on dividing costs and profits equally. The legal structure for the company can best be described as:

Setting standards too high is a common pitfall for keeping a small business running successfully.

Celine has an unwavering belief in her new start-up company. She possesses intense focus and takes unconventional risks to make her new company successful. These examples most closely relate to which personality trait of entrepreneurs?

Andrew, a young entrepreneur, feels sure about his ability to win customers through his people skills. He is comfortable with his ability to handle technical details and feels that he is able to keep his business moving. This most closely relates to which personality trait of entrepreneurs?

A domain name gives a company an address on the Web and a unique identity.

The majority of the incubators are operated by _____.

The drawbacks of proprietorship include unlimited liability and difficulty in obtaining financing.

Social entrepreneurship combines the creativity, business smarts, passion, and hard work of the traditional entrepreneur with a mission to change the world for the better.

Small businesses, according to the Small Business Administration, employ more than 90 percent of the private workforce in the United States.

The drawback(s) of proprietorship include:

An entrepreneur recognizes a good idea for a business and carries it out. Write a short essay that defines entrepreneurship and compares and contrasts the characteristics and motivations of the five categories of entrepreneurs: idealists, sustainers, optimizers, jugglers, and hard workers. Be sure to explain what makes each type successful.

Borrowing money that has to be repaid at a later date in order to start a business is _____.

An artificial entity created by the state and existing apart from its owners is known as:

Which of these is true about the business incubator?

_____ is an arrangement by which the owner of a product or service allows others to purchase the right to distribute the product or service with help from the owner.