Question 1

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

Accepted Answer

The answer of Borrowing money that has to be repaid...

Question 2

List five of the six characteristics of entrepreneurs.

Accepted Answer

Autonomy, high energy level, n

Question 3

A group of companies or individuals that invests money in new or expanding businesses for ownership and potential profits is known as:

Accepted Answer

A)  an equity financing firm. 
B)  franchising. 
C)  a venture capital firm. 
D)  a corporation. 
E)  a trade alliance. 
A)  an equity financing firm. 
B)  franchising. 
C)  a venture capital firm. 
D)  a corporation. 
E)  a trade alliance.

Question 4

_____ refers to borrowing money that has to be repaid in order to start a business.

Accepted Answer

A)  Venture capital 
B)  Debt financing 
C)  Equity financing 
D)  Franchising 
E)  Licensing 
A)  Venture capital 
B)  Debt financing 
C)  Equity financing 
D)  Franchising 
E)  Licensing

Question 5

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 6

_____ firms are groups of companies or individuals that invest money in exchange for a stake in the company.

Accepted Answer

The answer of _____ firms are groups of companies or...

Question 7

Janelle is very innovative and attentive to detail. As she starts her own company, she leads her employees and ensures that every detail is attended to. As her company grows, she finds it more difficult to deal with and motivate her employees. She is more interested in the product. What stage of growth is Janelle's company going through?

Accepted Answer

A)  Resource maturity 
B)  Takeoff 
C)  Survival 
D)  Success 
E)  Existence 
A)  Resource maturity 
B)  Takeoff 
C)  Survival 
D)  Success 
E)  Existence

Question 8

The drawback(s) of proprietorship include:

Accepted Answer

A)  the unlimited liability of the partners. 
B)  conflicts with partners. 
C)  existence regardless of whether the owners live or dies. 
D)  difficulty in obtaining financing. 
E)  complexity and cost. 
A)  the unlimited liability of the partners. 
B)  conflicts with partners. 
C)  existence regardless of whether the owners live or dies. 
D)  difficulty in obtaining financing. 
E)  complexity and cost.

Question 9

The key problem, at the _____ stage of growth, is how to grow rapidly and finance that growth.

Accepted Answer

A)  existence 
B)  survival 
C)  takeoff 
D)  resource maturity 
E)  success 
A)  existence 
B)  survival 
C)  takeoff 
D)  resource maturity 
E)  success

Question 10

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 11

Approximately 600,000 new businesses are launched in the U.S. each year by entrepreneurs.

Accepted Answer

A) True 
 B)False

Question 12

What is a business incubator? How can it help a business?

Accepted Answer

A business incubator is an innovation th

Question 13

The takeoff stage is the last of the five stages of growth for an entrepreneurial company.

Accepted Answer

A) True 
 B)False

Question 14

At the success stage of growth, a company's substantial financial gains may come at the cost of losing its advantages of small size, including flexibility and the entrepreneurial spirit.

Accepted Answer

A) True 
 B)False

Question 15

Borrowing from family and friends is a common source of debt financing for a start-up business.

Accepted Answer

A) True 
 B)False

Question 16

A venture capital firm is a group of companies or individuals that invests money in new or expanding businesses for ownership and potential profits.

Accepted Answer

A) True 
 B)False

Question 17

The key problem, at the _____ stage of growth, is how to grow rapidly and finance that growth.

Accepted Answer

The answer of The key problem, at the _____ stage...

Question 18

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 19

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

Accepted Answer

Tolerance

Question 20

CASE
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.

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

List five of the six characteristics of entrepreneurs.

A group of companies or individuals that invests money in new or expanding businesses for ownership and potential profits is known as:

_____ refers to borrowing money that has to be repaid in order to start a business.

Social entrepreneurs are committed to both good business and:

_____ firms are groups of companies or individuals that invest money in exchange for a stake in the company.

The drawback(s) of proprietorship include:

The key problem, at the _____ stage of growth, is how to grow rapidly and finance that growth.

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

Approximately 600,000 new businesses are launched in the U.S. each year by entrepreneurs.

What is a business incubator? How can it help a business?

The takeoff stage is the last of the five stages of growth for an entrepreneurial company.

At the success stage of growth, a company's substantial financial gains may come at the cost of losing its advantages of small size, including flexibility and the entrepreneurial spirit.

Borrowing from family and friends is a common source of debt financing for a start-up business.

A venture capital firm is a group of companies or individuals that invests money in new or expanding businesses for ownership and potential profits.

The key problem, at the _____ stage of growth, is how to grow rapidly and finance that growth.

What are the two principal advantages of forming a corporation?

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

Innovative Management for a Changing World

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 Adaptive Organizations

Managing Change and Innovation

Managing Human Resources

Managing Diversity

Understanding Individual Behavior

Leadership

Motivating Employees

Managing Communication

Leading Teams

Managing Quality and Performance

Filters

Exam 6: Managing Small Business Start Ups

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

List five of the six characteristics of entrepreneurs.

A group of companies or individuals that invests money in new or expanding businesses for ownership and potential profits is known as:

_____ refers to borrowing money that has to be repaid in order to start a business.

Social entrepreneurs are committed to both good business and:

_____ firms are groups of companies or individuals that invest money in exchange for a stake in the company.

The drawback(s) of proprietorship include:

The key problem, at the _____ stage of growth, is how to grow rapidly and finance that growth.

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

Approximately 600,000 new businesses are launched in the U.S. each year by entrepreneurs.

What is a business incubator? How can it help a business?

The takeoff stage is the last of the five stages of growth for an entrepreneurial company.

At the success stage of growth, a company's substantial financial gains may come at the cost of losing its advantages of small size, including flexibility and the entrepreneurial spirit.

Borrowing from family and friends is a common source of debt financing for a start-up business.

A venture capital firm is a group of companies or individuals that invests money in new or expanding businesses for ownership and potential profits.

The key problem, at the _____ stage of growth, is how to grow rapidly and finance that growth.

What are the two principal advantages of forming a corporation?

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

Innovative Management for a Changing World

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 Adaptive Organizations

Managing Change and Innovation

Managing Human Resources

Managing Diversity

Understanding Individual Behavior

Leadership

Motivating Employees

Managing Communication

Leading Teams

Managing Quality and Performance

Filters