Question 1

_____ was one of the top 10 fastest-growing franchises in 2011.

Accepted Answer

A)  Arby's 
B)  Krispy Kreme 
C)  Subway 
D)  Wendy's 
E)  Dairy Queen 
A)  Arby's 
B)  Krispy Kreme 
C)  Subway 
D)  Wendy's 
E)  Dairy Queen

Question 2

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

Accepted Answer

A)  a partnership. 
B)  a proprietorship. 
C)  a corporation. 
D)  an association. 
E)  a trade alliance. 
A)  a partnership. 
B)  a proprietorship. 
C)  a corporation. 
D)  an association. 
E)  a trade alliance.

Question 3

Entrepreneurs see themselves as being less in control of their environment, generally speaking, and can be expected to have an external locus of control.

Accepted Answer

A) True 
 B)False

Question 4

A business plan for a small business should be detailed, encompassing at least 100 pages.

Accepted Answer

A) True 
 B)False

Question 5

What is the most common way that entrepreneurs finance the start-up of a new business?

Accepted Answer

A)  Self-financing from savings or credit cards 
B)  Loans from friends, family, or business associates 
C)  Bank loans 
D)  Lines of credit 
E)  Venture capital 
A)  Self-financing from savings or credit cards 
B)  Loans from friends, family, or business associates 
C)  Bank loans 
D)  Lines of credit 
E)  Venture capital

Question 6

Marion is an entrepreneur. At this stage of his company's growth, his main concerns are do we have enough customers and money. What stage of growth is Marion's company in?

Accepted Answer

A)  Start-up 
B)  Survival 
C)  Takeoff 
D)  Resource maturity 
E)  Success 
A)  Start-up 
B)  Survival 
C)  Takeoff 
D)  Resource maturity 
E)  Success

Question 7

Being interested in computers, Jose Cohata came up with an idea of personalizing the screen saver programs with family pictures. After trying a couple of programs, Jose started marketing this service to neighbors and area businesses. Jose's activities can be described as a(n) _____.

Accepted Answer

A)  entrepreneurship 
B)  intrapreneurship 
C)  useless idea 
D)  large business 
E)  partnership 
A)  entrepreneurship 
B)  intrapreneurship 
C)  useless idea 
D)  large business 
E)  partnership

Question 8

Melissa is a very good middle manager. However, she has long wanted to open her own business. Which of Melissa's characteristics is not consistent with entrepreneurship?

Accepted Answer

A)  Melissa has high self-confidence. 
B)  Melissa tends to put things off till later. 
C)  She is untroubled by uncertainty. 
D)  She has a high energy level. 
E)  She has high need to achieve. 
A)  Melissa has high self-confidence. 
B)  Melissa tends to put things off till later. 
C)  She is untroubled by uncertainty. 
D)  She has a high energy level. 
E)  She has high need to achieve.

Question 9

Entrepreneurs in the _____ category like the idea of working on something that is new, creative, or personally meaningful.

Accepted Answer

The answer of Entrepreneurs in the _____ category like the...

Question 10

Since a corporation is a legal structure reserved for large firms, small businesses have two basic choices for legal structure of their company: proprietorship and partnership.

Accepted Answer

A) True 
 B)False

Question 11

A sole proprietorship an unincorporated business owned by two or more people.

Accepted Answer

A) True 
 B)False

Question 12

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

Accepted Answer

A) True 
 B)False

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

Which of these refers to the financing that consists of funds that are invested in exchange for ownership in the company?

Accepted Answer

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

Question 15

A(n) _____ has a legal life of its own.

Accepted Answer

A)  partnership 
B)  proprietorship 
C)  corporation 
D)  association 
E)  trade alliance 
A)  partnership 
B)  proprietorship 
C)  corporation 
D)  association 
E)  trade alliance

Question 16

Which of these means that people are motivated to excel and pick situations in which success is likely?

Accepted Answer

A)  External locus of control 
B)  Tolerance for Ambiguity 
C)  Awareness of passing time 
D)  Internal locus of control 
E)  Need to achieve 
A)  External locus of control 
B)  Tolerance for Ambiguity 
C)  Awareness of passing time 
D)  Internal locus of control 
E)  Need to achieve

Question 17

Tracy's Trikes believes that each employee should enjoy the idea of working on something that is new, creative, or personally meaningful. Tracy's Trikes exemplifies which of the categories of small business owners?

Accepted Answer

A)  Optimizers 
B)  Idealists 
C)  Hard workers 
D)  Sustainers 
E)  Jugglers 
A)  Optimizers 
B)  Idealists 
C)  Hard workers 
D)  Sustainers 
E)  Jugglers

Question 18

Social entrepreneurs are leaders who are committed to both good business and ensuring high profitability.

Accepted Answer

A) True 
 B)False

Question 19

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 20

Particularly in a turbulent environment, the three most important traits of successful entrepreneurs are realism, flexibility, and passion.

Accepted Answer

A) True 
 B)False

_____ was one of the top 10 fastest-growing franchises in 2011.

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

Entrepreneurs see themselves as being less in control of their environment, generally speaking, and can be expected to have an external locus of control.

A business plan for a small business should be detailed, encompassing at least 100 pages.

What is the most common way that entrepreneurs finance the start-up of a new business?

Marion is an entrepreneur. At this stage of his company's growth, his main concerns are do we have enough customers and money. What stage of growth is Marion's company in?

Being interested in computers, Jose Cohata came up with an idea of personalizing the screen saver programs with family pictures. After trying a couple of programs, Jose started marketing this service to neighbors and area businesses. Jose's activities can be described as a(n) _____.

Melissa is a very good middle manager. However, she has long wanted to open her own business. Which of Melissa's characteristics is not consistent with entrepreneurship?

Entrepreneurs in the _____ category like the idea of working on something that is new, creative, or personally meaningful.

Since a corporation is a legal structure reserved for large firms, small businesses have two basic choices for legal structure of their company: proprietorship and partnership.

A sole proprietorship an unincorporated business owned by two or more people.

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

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

Which of these refers to the financing that consists of funds that are invested in exchange for ownership in the company?

A(n) _____ has a legal life of its own.

Which of these means that people are motivated to excel and pick situations in which success is likely?

Tracy's Trikes believes that each employee should enjoy the idea of working on something that is new, creative, or personally meaningful. Tracy's Trikes exemplifies which of the categories of small business owners?

Social entrepreneurs are leaders who are committed to both good business and ensuring high profitability.

The majority of the incubators are operated by:

Particularly in a turbulent environment, the three most important traits of successful entrepreneurs are realism, flexibility, and passion.

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

_____ was one of the top 10 fastest-growing franchises in 2011.

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

Entrepreneurs see themselves as being less in control of their environment, generally speaking, and can be expected to have an external locus of control.

A business plan for a small business should be detailed, encompassing at least 100 pages.

What is the most common way that entrepreneurs finance the start-up of a new business?

Marion is an entrepreneur. At this stage of his company's growth, his main concerns are do we have enough customers and money. What stage of growth is Marion's company in?

Being interested in computers, Jose Cohata came up with an idea of personalizing the screen saver programs with family pictures. After trying a couple of programs, Jose started marketing this service to neighbors and area businesses. Jose's activities can be described as a(n) _____.

Melissa is a very good middle manager. However, she has long wanted to open her own business. Which of Melissa's characteristics is not consistent with entrepreneurship?

Entrepreneurs in the _____ category like the idea of working on something that is new, creative, or personally meaningful.

Since a corporation is a legal structure reserved for large firms, small businesses have two basic choices for legal structure of their company: proprietorship and partnership.

A sole proprietorship an unincorporated business owned by two or more people.

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

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

Which of these refers to the financing that consists of funds that are invested in exchange for ownership in the company?

A(n) _____ has a legal life of its own.

Which of these means that people are motivated to excel and pick situations in which success is likely?

Tracy's Trikes believes that each employee should enjoy the idea of working on something that is new, creative, or personally meaningful. Tracy's Trikes exemplifies which of the categories of small business owners?

Social entrepreneurs are leaders who are committed to both good business and ensuring high profitability.

The majority of the incubators are operated by:

Particularly in a turbulent environment, the three most important traits of successful entrepreneurs are realism, flexibility, and passion.

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