Question 1

__________ is the type of business that most entrepreneurs start.

Accepted Answer

A)  Retail 
B)  Manufacturing 
C)  Service 
D)  All of these 
E)  Retail and manufacturing only 
A)  Retail 
B)  Manufacturing 
C)  Service 
D)  All of these 
E)  Retail and manufacturing only

Question 2

Retail, manufacturing and/or service type of businesses are the primary focus of most entrepreneurs.

Accepted Answer

A) True 
 B)False

Question 3

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

Accepted Answer

The five categories are idealists, optim

Question 4

By Stage 3 of growth for an entrepreneurial firm, the owner should start implementing more structured control systems.

Accepted Answer

A) True 
 B)False

Question 5

List the five stages of growth for an entrepreneurial company.

Accepted Answer

Start-up, survival,

Question 6

Entrepreneurs tend to

Accepted Answer

A)  need clear instructions. 
B)  like specific instructions. 
C)  be impatient. 
D)  lack self-confidence. 
E)  have low energy level. 
A)  need clear instructions. 
B)  like specific instructions. 
C)  be impatient. 
D)  lack self-confidence. 
E)  have low energy level.

Question 7

__________ is the process of starting a business venture, organizing the resources, and taking the risks.

Accepted Answer

A)  Intrapreneurship 
B)  Entrepreneurship 
C)  Small business administration 
D)  Venture capital 
E)  Equity financing 
A)  Intrapreneurship 
B)  Entrepreneurship 
C)  Small business administration 
D)  Venture capital 
E)  Equity financing

Question 8

Christine 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 Christine'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 9

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

Accepted Answer

A) True 
 B)False

Question 10

A(n) ___________________________________ is a group of companies or individuals that invests money in new or expanding businesses for ownership and potential profits.

Accepted Answer

venture ca

Question 11

CASE
Scenario - Bianca and Bijal
While many others dreamed about owning their own business, Bianca Babson decided to do something about it. Bianca knew that being self-employed required long hours and hard work, but with the help of her husband, Bijal, Bianca was positive that the hours and the work would be rewarded. First, she and Bijal developed a new concept in sunglasses that could be used by athletes better than the sunglasses now on the market. Bianca and Bijal obtained a patent on their invention, and began production and marketing.
-After fully developing their new business idea, Bianca and Bijal 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

Define a corporation and briefly discuss the primary advantages and disadvantages of forming a corporation.

Accepted Answer

A corporation is a business form that is

Question 13

All of the following are reasons that account for the reversal of the long-term trend toward ever-larger companies EXCEPT

Accepted Answer

A)  economic changes. 
B)  globalization and increased competition. 
C)  technology. 
D)  new opportunities and market niches. 
E)  government changes. 
A)  economic changes. 
B)  globalization and increased competition. 
C)  technology. 
D)  new opportunities and market niches. 
E)  government changes.

Question 14

According to the Small Business Administration, small businesses employ more than 90 percent of the private workforce in the United States and are responsible for 85 percent of all business innovations.

Accepted Answer

A) True 
 B)False

Question 15

Which of these is true about the business incubator?

Accepted Answer

A)  It gives up control since every business is run the same way. 
B)  It provides shared office space, management support services, and management advice. 
C)  It develops an international business. 
D)  It provides an established name and advertising. 
E)  All of these. 
A)  It gives up control since every business is run the same way. 
B)  It provides shared office space, management support services, and management advice. 
C)  It develops an international business. 
D)  It provides an established name and advertising. 
E)  All of these.

Question 16

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

Accepted Answer

A) True 
 B)False

Question 17

Although researchers disagree over the percentage of new jobs created by small business, it is clear that small business is a job creation engine that is far ahead of large firms in the United States.

Accepted Answer

A) True 
 B)False

Question 18

When writing a business plan, an Internet business entrepreneur has to convince venture capitalists and potential employees to join in a risky adventure that has ____________________ potential but ____________________ guarantees.

Accepted Answer

The answer of When writing a business plan, an Internet...

Question 19

A(n) ____________________ locus of control is the belief by individuals that their future is within their control.

Accepted Answer

The answer of A(n) ____________________ locus of control is the...

Question 20

During which stage, formal planning, such as a strategic plan, is usually instituted?

Accepted Answer

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

__________ is the type of business that most entrepreneurs start.

Retail, manufacturing and/or service type of businesses are the primary focus of most entrepreneurs.

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

By Stage 3 of growth for an entrepreneurial firm, the owner should start implementing more structured control systems.

List the five stages of growth for an entrepreneurial company.

Entrepreneurs tend to

__________ is the process of starting a business venture, organizing the resources, and taking the risks.

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

A(n) ___________________________________ is a group of companies or individuals that invests money in new or expanding businesses for ownership and potential profits.

Define a corporation and briefly discuss the primary advantages and disadvantages of forming a corporation.

All of the following are reasons that account for the reversal of the long-term trend toward ever-larger companies EXCEPT

According to the Small Business Administration, small businesses employ more than 90 percent of the private workforce in the United States and are responsible for 85 percent of all business innovations.

Which of these is true about the business incubator?

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

Although researchers disagree over the percentage of new jobs created by small business, it is clear that small business is a job creation engine that is far ahead of large firms in the United States.

When writing a business plan, an Internet business entrepreneur has to convince venture capitalists and potential employees to join in a risky adventure that has potential but guarantees.

A(n) ____________________ locus of control is the belief by individuals that their future is within their control.

During which stage, formal planning, such as a strategic plan, is usually instituted?

Managing in Turbulent Times

The Evolution of Management Thinking

The Environment and Corporate Culture

Managing in a Global Environment

Ethics and Social Responsibility

Managerial Planning and Goal Setting

Strategy Formulation and Implementation

Managerial Decision Making

Designing Adaptive Organizations

Managing Change and Innovation

Human Resource Management

Meeting the Challenge of Diversity

Dynamics of Behavior in Organizations

Leadership

Motivation

Communication

Teamwork

Managerial and Quality Control

Information Technology and E-Business

Operations and Value Chain Management

Filters

Exam 6: Managing Small Business Start-Ups

__________ is the type of business that most entrepreneurs start.

Retail, manufacturing and/or service type of businesses are the primary focus of most entrepreneurs.

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

By Stage 3 of growth for an entrepreneurial firm, the owner should start implementing more structured control systems.

List the five stages of growth for an entrepreneurial company.

Entrepreneurs tend to

__________ is the process of starting a business venture, organizing the resources, and taking the risks.

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

A(n) ___________________________________ is a group of companies or individuals that invests money in new or expanding businesses for ownership and potential profits.

Define a corporation and briefly discuss the primary advantages and disadvantages of forming a corporation.

All of the following are reasons that account for the reversal of the long-term trend toward ever-larger companies EXCEPT

According to the Small Business Administration, small businesses employ more than 90 percent of the private workforce in the United States and are responsible for 85 percent of all business innovations.

Which of these is true about the business incubator?

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

Although researchers disagree over the percentage of new jobs created by small business, it is clear that small business is a job creation engine that is far ahead of large firms in the United States.

When writing a business plan, an Internet business entrepreneur has to convince venture capitalists and potential employees to join in a risky adventure that has ____________________ potential but ____________________ guarantees.

A(n) ____________________ locus of control is the belief by individuals that their future is within their control.

During which stage, formal planning, such as a strategic plan, is usually instituted?

Managing in Turbulent Times

The Evolution of Management Thinking

The Environment and Corporate Culture

Managing in a Global Environment

Ethics and Social Responsibility

Managerial Planning and Goal Setting

Strategy Formulation and Implementation

Managerial Decision Making

Designing Adaptive Organizations

Managing Change and Innovation

Human Resource Management

Meeting the Challenge of Diversity

Dynamics of Behavior in Organizations

Leadership

Motivation

Communication

Teamwork

Managerial and Quality Control

Information Technology and E-Business

Operations and Value Chain Management

Filters

When writing a business plan, an Internet business entrepreneur has to convince venture capitalists and potential employees to join in a risky adventure that has potential but guarantees.