Question 1

Which of these refers to the belief by individuals that their future is within their control and that external forces will have little influence?

Accepted Answer

A)  Awareness of passing time 
B)  Tolerance for ambiguity 
C)  Internal locus of control 
D)  External locus of control 
E)  Deferred locus of control 
A)  Awareness of passing time 
B)  Tolerance for ambiguity 
C)  Internal locus of control 
D)  External locus of control 
E)  Deferred locus of control

Question 2

A venture capital firm wants to invest in businesses with a high rate of return. In return, they will

Accepted Answer

A)  invest large amounts of money. 
B)  provide necessary assistance and advice. 
C)  provide information to help the entrepreneur prosper. 
D)  all of these. 
E)  provide necessary assistance and advice and provide information to help the entrepreneur prosper only. 
A)  invest large amounts of money. 
B)  provide necessary assistance and advice. 
C)  provide information to help the entrepreneur prosper. 
D)  all of these. 
E)  provide necessary assistance and advice and provide information to help the entrepreneur prosper only.

Question 3

The fastest growing segement of small business in both the U.S. and Canada is partnerships.

Accepted Answer

A) True 
 B)False

Question 4

Entrepreneurship and small business in the United States is an engine for _________________________, and ____________________.

Accepted Answer

job creati

Question 5

______________________________ 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 6

The Good Tire Company is at the stage where if financing is available and it is properly managed, rapid growth can occur. What stage is the Good Tire Company experiencing?

Accepted Answer

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

Question 7

Which of the following is NOT an appropriate legal structure for an entrepreneurial company?

Accepted Answer

A)  Proprietorship 
B)  Corporation 
C)  Partnership 
D)  Trade alliance 
E)  All of these are appropriate legal structures for an entrepreneurial company. 
A)  Proprietorship 
B)  Corporation 
C)  Partnership 
D)  Trade alliance 
E)  All of these are appropriate legal structures for an entrepreneurial company.

Question 8

Identify and describe the reasons why small business is such a dynamic part of today's economy.

Accepted Answer

The reasons small business is dynamic in

Question 9

Alexandria Flanagan strongly believes in her abilities and feels that she controls her own destiny. She can be described as having a(n)

Accepted Answer

A)  tolerance for ambiguity. 
B)  internal locus of control. 
C)  external locus of control. 
D)  low energy level. 
E)  awareness of passing time. 
A)  tolerance for ambiguity. 
B)  internal locus of control. 
C)  external locus of control. 
D)  low energy level. 
E)  awareness of passing time.

Question 10

Entrepreneurs in the sustainer category alike the chance to balance work and personal life and often don't want the business to grow too large.

Accepted Answer

A) True 
 B)False

Question 11

Which of these, according to the Small Business Administration, defines a business?

Accepted Answer

A)  It has fewer than 500 employees. 
B)  It has sales less than $5 million a year. 
C)  It has fewer than $100 million in assets. 
D)  The SBA's definition of small business includes employee numbers and assets. 
E)  It has fewer than 50 employees and $1 million in sales. 
A)  It has fewer than 500 employees. 
B)  It has sales less than $5 million a year. 
C)  It has fewer than $100 million in assets. 
D)  The SBA's definition of small business includes employee numbers and assets. 
E)  It has fewer than 50 employees and $1 million in sales.

Question 12

The long-term trend toward ever-larger companies is changing. List the four general reasons given by your text for this reversal.

Accepted Answer

Economic changes, globalizatio

Question 13

A business incubator is an independent company producing a product or service similar to that produced by the entrepreneur's former employer.

Accepted Answer

A) True 
 B)False

Question 14

Of these characteristics, which is associated with entrepreneurship?

Accepted Answer

A)  A high need for power 
B)  A high need for affiliation 
C)  An internal locus of control 
D)  An external locus of control 
E)  Low energy level 
A)  A high need for power 
B)  A high need for affiliation 
C)  An internal locus of control 
D)  An external locus of control 
E)  Low energy level

Question 15

__________ refers to an unincorporated business owned by an individual for profit.

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

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.

Accepted Answer

A) True 
 B)False

Question 17

Briefly define and compare internal and external locus of control.

Accepted Answer

Internal locus of control is the belief

Question 18

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 19

Mike's Bikes believes that each of the employee should enjoy the idea of working on something that is new, creative, or personally meaningful. Mike's Bikes would describe 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 20

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...

Exam 6: Managing Small Business Start-Ups

Which of these refers to the belief by individuals that their future is within their control and that external forces will have little influence?

A venture capital firm wants to invest in businesses with a high rate of return. In return, they will

The fastest growing segement of small business in both the U.S. and Canada is partnerships.

Entrepreneurship and small business in the United States is an engine for _________________________, and ____________________.

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

The Good Tire Company is at the stage where if financing is available and it is properly managed, rapid growth can occur. What stage is the Good Tire Company experiencing?

Which of the following is NOT an appropriate legal structure for an entrepreneurial company?

Identify and describe the reasons why small business is such a dynamic part of today's economy.

Alexandria Flanagan strongly believes in her abilities and feels that she controls her own destiny. She can be described as having a(n)

Entrepreneurs in the sustainer category alike the chance to balance work and personal life and often don't want the business to grow too large.

Which of these, according to the Small Business Administration, defines a business?

The long-term trend toward ever-larger companies is changing. List the four general reasons given by your text for this reversal.

A business incubator is an independent company producing a product or service similar to that produced by the entrepreneur's former employer.

Of these characteristics, which is associated with entrepreneurship?

__________ refers to an unincorporated business owned by an individual for profit.

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.

Briefly define and compare internal and external locus of control.

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

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

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

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

Entrepreneurship and small business in the United States is an engine for _____, and .