Exam 6: Entrepreneurship and Small Business Ownership

The institution that actually provides the money for an SBA-backed loan is the ________.

SCORE is a resource partner of the ________.

Andy,an entrepreneur,plans to open a bakery in his neighborhood.He realizes that there are no branded bakeries in the locality,even though there are a number of independent bakeries.He approaches Soft Bakes,an international bakery chain,and signs an agreement with them that gives him the right to open a bakery shop that uses Soft Bakes' name and management methods.In this scenario,which of the following business methods does Andy use?

Compare and contrast creating a new,independent business with buying into a franchise system.

The positive,forward-thinking desire to create a profitable,sustainable business is called ________.

A car dealer in Ohio has the rights to sell trademarked automobiles manufactured by Armadillo Motors Inc.,which does not have a distribution network in Ohio.The car dealer purchases the automobiles from Armadillo Motors Inc.and then resells them in Ohio.Which of the following models does the dealer use?

Which of the following statements is TRUE about intrapreneurship?

SCORE is an acronym for the Service Corps of Retired Entrepreneurs.

TechPoint,a technical writing and business documentation firm,finds it difficult to handle its training requirements.The company forms a one-year contract with Impact Inc.,a language-training firm,to conduct training and refresher courses for their employees.This is an example of ________.

Which of the following is one of the main reasons that small businesses are using social media for marketing and advertising?

Which of the following is TRUE about creating a new,independent business?

Which of the following is an advantage of buying into a franchise system?

Barbara decided to open an independent bookstore.However,after careful consideration,she decided to purchase an existing bookstore called BookStop from an owner who was retiring.Which of the following statements,if true,is most likely to make Barbara's business successful?

A ________ is a legally binding contract that defines the relationship between a franchisee and a franchisor.

A company's ________ defines how it will generate revenue and produce a profit.

Three factors contributing to the increased number of small businesses are technologies such as e-commerce,growing diversity in entrepreneurship,and ________.

Celera Inc.,a soap manufacturing firm based in Colorado,needs to raise capital to fund its product development plans.The firm decides to offer its shares of ownership to the public for the first time,and lists its securities on a public exchange.This is termed as ________.

Facilities that house small businesses and provide support services during the company's early growth phases are called angel investors.

Funding a business with credit cards or a personal line of credit is extremely risky.

The practice of engaging outside firms to handle either individual projects or entire business functions is called downsizing.