Exam 5: Entrepreneurship and New Venture Management

_____ is a general factor that contributes to the success of small businesses.

More than half of all new businesses do not last six years. What are four general factors that cause failure of business?

More than any other industry, the _____ industry lends itself to big business.

Match the following numbered items with the most correct response. A response may be used once, more than once, or not at all. -More difficult to obtain information about projected revenues, cash flow

Which of the following is an advantage of starting a business from scratch?

Match the following numbered items with the most correct industry. A response may be used once, more than once, or not at all. -Nannies-R-Us, babysitting providers

Match the following numbered items with the most correct response. A response may be used once, more than once, or not at all. -Historical records answer questions about cash flow problems

Which of the following is an example of identifying a new niche in an established market?

Discuss the concept of entrepreneurship.

Delta Inc., an electric car maker, initially had financing from a small group of investors seeking to make profits through rapid growth. The investors did not lend money, but invested it in the company in return for stock. Delta's source of financing was:

Match the following numbered items with the most correct industry. A response may be used once, more than once, or not at all. -Brannon Homes, builder of homes

Which of the following is a good strategy for small businesses?

A _____ is privately owned by one individual or a group of individuals and has sales and assets that are not adequate enough to meaningfully influence its environment.

Which of the following is a good strategy for small businesses entering the retail industry?

Identify an advantage of a franchising agreement.

Angela runs a babysitting referral agency. Her work involves referring reliable and qualified babysitters to busy parents on a monthly, weekly, or hourly basis. She earns money by charging a nominal referral fee to the parents, and gets commissions from the babysitters for referring them. Angela's business operates in the _____ industry.

Jordon owns a pet shop which sells specialty products like birthday cakes for dogs, canned cat food, and live food for fishes. He sources these animal foods from different manufacturers, and sells it to local residents. Jordon's shop operates in the _____ industry.

An independently owned and operated enterprise with relatively little influence over its environment is defined in the text as a(n) _____.

Which of the following statements is true about franchising?

Delta LLC. purchases raw materials such as leather and canvas from suppliers and processes them into finished shoes. Delta LLC. operates in the _____ industry.