Exam 6: Managing Start-Ups and New Ventures

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A recent alternative to a traditional business incubator is a __________, which is an open office environment that is shared by multiple freelance entrepreneurs as well as corporate telecommuting employees or others who don't have a regular office.

(Multiple Choice)
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The most common reason for becoming an entrepreneur is:

(Multiple Choice)
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A need to achieve is a psychological characteristic that means people are motivated to excel and pick situations in which success is likely.

(True/False)
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What is the most common way that entrepreneurs finance the start-up of a new business?

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

(True/False)
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__________ refers to borrowing money that has to be repaid at a later date to start a business.

(Multiple Choice)
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A(n) __________ is someone who recognizes a viable idea for a business product or service and carries it out by finding and assembling the necessary resources to undertake the business venture.

(Multiple Choice)
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Which of the following is the most cited source of new business ideas?

(Multiple Choice)
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Social entrepreneurs are leaders who are committed to both good business and ensuring high profitability.

(True/False)
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According to the Global Entrepreneurship Monitor (GEM) 2015-2016 Global Report, women showed entrepreneurial rates equal to or higher than those of men in all of the following countries except:

(Multiple Choice)
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To __________ means to change the strategic direction of the business.

(Short Answer)
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Optimizers are rewarded by the chance to work on something that is new, creative, or personally meaningful.

(True/False)
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What is a business incubator? How can it help a business?

(Essay)
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Ginger likes to set her own goals, which are moderately difficult. Which of the entrepreneurial characteristics does she probably possess?

(Multiple Choice)
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Only about _____ percent of women-owned businesses have employees.

(Multiple Choice)
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Define a corporation, and briefly discuss the primary advantages and disadvantages of forming a corporation.

(Essay)
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Sole proprietorships are one of the fastest-growing segments of small business in both the United States and Canada.

(True/False)
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All of the following are entrepreneurial characteristics except:

(Multiple Choice)
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__________ is a way of raising capital by receiving small amounts of money from a large number of investors, usually through social media and the Internet.

(Short Answer)
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The Small Business Administration (SBA) can provide loan financing for small business start-ups.

(True/False)
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