Exam 6: Managing Small Business Start Ups

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.

Which of these is true about the business incubator?

China is the most entrepreneurial country, with 24 percent of individuals age 18 to 64 starting a new business.

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

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

The owner should start implementing more structured control systems by Stage 3 of growth for an entrepreneurial firm.

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

Formal planning, such as a strategic plan, is usually instituted during which stage?

Which of the following is the psychological characteristic that allows a person to be untroubled by disorder and uncertainty?

At which stage of growth is the company if it is solidly based and profitable?

One of the first characteristics or points of a successful business plan is:

To succeed in the competitive online market, aspiring entrepreneurs need to identify a market niche that isn't being served by other companies.

Sole proprietorships are one of the fastest growing segment of small business.

Which of the following are high-energy people who enjoy handling every detail of their own businesses?

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

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

The most common source of new business ideas comes from in-depth understanding of an industry or profession.

During the _____ stage, the company will need to make greater use of budgets, standard cost systems, and statistical reports.

List and briefly describe the stages of growth for an entrepreneurial company.

Entrepreneurs in the sustainer category are rewarded by the personal satisfaction of being business owners.