Question 1

__________________ financing is provided by a wealthy individual who believes in the idea that a start-up company wishes to pursue.

Accepted Answer

Angel

Question 2

List and briefly describe the stages of growth for an entrepreneurial company.

Accepted Answer

The first stage is the start-up and existence stage.During this stage,the main problems are producing the product or service and obtaining customers.The survival stage is the second stage.The organisation is producing the product/service and has customers.The key issue is financing the operation and its growth.During the success stage (stage three),the company is solid and profitable.At this point,the entrepreneur can decide to decrease his or her involvement.The fourth stage is the take-off stage.It is a pivotal period for the organisation.The key issue is how to grow rapidly and finance that growth.Additionally,during this stage,the entrepreneur must learn to delegate.The final stage is the resource maturity stage.During this stage,the company has made significant financial gains,but is in the process of transition to a large organisation.

Question 3

A sole proprietorship is an unincorporated business owned by two or more people.

Accepted Answer

A) True 
 B)False  False

Question 4

Two principal advantages of forming a corporation are:

Accepted Answer

A)  unlimited liability and potential conflicts with partners 
B)  freedom from debt and relatively simple structure 
C)  continuity and limits on owner's liability 
D)  unlimited liability and continuity 
E)  continuity and non-tax structure. 
A)  unlimited liability and potential conflicts with partners 
B)  freedom from debt and relatively simple structure 
C)  continuity and limits on owner's liability 
D)  unlimited liability and continuity 
E)  continuity and non-tax structure.

Question 5

A group of organisations or individuals that invest money in new or expanding businesses for ownership and profit potential is known as a(n):

Accepted Answer

A)  organisational entrepreneurs 
B)  investment group 
C)  venture capital organisation 
D)  angel financiers 
E)  None of these choices. 
A)  organisational entrepreneurs 
B)  investment group 
C)  venture capital organisation 
D)  angel financiers 
E)  None of these choices.

Question 6

Which of the following would not provide the proper atmosphere for intrapreneurship?

Accepted Answer

A)  Plan the physical layout of the organisation to encourage informal communication. 
B)  Reward and/or promote innovative personnel. 
C)  Encourage personnel to follow existing standards and procedures. 
D)  Tolerate failure and use it as a learning experience. 
E)  All of these choices provide proper atmosphere for intrapreneurship. 
A)  Plan the physical layout of the organisation to encourage informal communication. 
B)  Reward and/or promote innovative personnel. 
C)  Encourage personnel to follow existing standards and procedures. 
D)  Tolerate failure and use it as a learning experience. 
E)  All of these choices provide proper atmosphere for intrapreneurship.

Question 7

Financing consists of funds are invested in exchange for ownership in the company is known as:

Accepted Answer

A)  venture capital 
B)  debt financing 
C)  equity financing 
D)  franchising 
E)  licensing. 
A)  venture capital 
B)  debt financing 
C)  equity financing 
D)  franchising 
E)  licensing.

Question 8

____________________ is the most important reason for starting a business.

Accepted Answer

A)  To create something new 
B)  To control my life 
C)  To make a huge profit 
D)  To be my own boss 
E)  Frustration at phone answering services 
A)  To create something new 
B)  To control my life 
C)  To make a huge profit 
D)  To be my own boss 
E)  Frustration at phone answering services

Question 9

According to the 'five types of small business owners",a(n)__________________ is characterised as someone who thrives on the challenge of building larger,more profitable business.

Accepted Answer

A)  Iidealist 
B)  optimiser 
C)  hard worker 
D)  juggler 
E)  sustainer 
A)  Iidealist 
B)  optimiser 
C)  hard worker 
D)  juggler 
E)  sustainer

Question 10

Someone who recognises a viable idea for a business product or service and carries it out is referred to as a(n):

Accepted Answer

A)  intrapreneur 
B)  entrepreneur 
C)  manager 
D)  leader 
E)  introvert. 
A)  intrapreneur 
B)  entrepreneur 
C)  manager 
D)  leader 
E)  introvert.

Question 11

A(n)_____________________ (four words)is the belief by individuals that their future is within their control and that other external forces will have little influence.

Accepted Answer

internal l

Question 12

An arrangement by which the owner of a product or service allows others to purchase the right to distribute the product or service with help from the owner is known as Angel financing.

Accepted Answer

A) True 
 B)False

Question 13

The very first step in starting an organisation is to have a __________________________ (two words).

Accepted Answer

The answer of The very first step in starting an...

Question 14

A _____________________________________(two words)is an innovation that provides entrepreneurs with shared office space,management support services and management advice.

Accepted Answer

The answer of A _____________________________________(two words)is an innovation that provides...

Question 15

A business model that provides a shared office space,management support services and management/legal advice to entrepreneurs is known as a spin-off company.

Accepted Answer

A) True 
 B)False

Question 16

According to the 'five types of small business owners',a(n)__________________ is characterised enjoying the chance to balance work and personal life.

Accepted Answer

A)  idealist 
B)  optimiser 
C)  hard worker 
D)  juggler 
E)  sustainer 
A)  idealist 
B)  optimiser 
C)  hard worker 
D)  juggler 
E)  sustainer

Question 17

Managers must tailor their planning,organising,leading and controlling to fit:

Accepted Answer

A)  the current stage of growth 
B)  financial needs 
C)  inventory levels 
D)  the number of orders to be filled 
E)  their comfort level. 
A)  the current stage of growth 
B)  financial needs 
C)  inventory levels 
D)  the number of orders to be filled 
E)  their comfort level.

Question 18

_____________________ (three words)is the psychological characteristic that allows a person to be untroubled by disorder and uncertainty.

Accepted Answer

Trueoleran

Question 19

Lynda believes that the failure of her new invention was due to her inability to spend enough time developing its features and form.We can infer that Linda must have an internal locus of control.

Accepted Answer

A) True 
 B)False

Question 20

An intrepreneur is a person that acts as an entrepreneurial employee of an organisation.

Accepted Answer

A) True 
 B)False

Exam 6: Managing Start-Ups and New Ventures

__________________ financing is provided by a wealthy individual who believes in the idea that a start-up company wishes to pursue.

List and briefly describe the stages of growth for an entrepreneurial company.

A sole proprietorship is an unincorporated business owned by two or more people.

Two principal advantages of forming a corporation are:

A group of organisations or individuals that invest money in new or expanding businesses for ownership and profit potential is known as a(n):

Which of the following would not provide the proper atmosphere for intrapreneurship?

Financing consists of funds are invested in exchange for ownership in the company is known as:

____________________ is the most important reason for starting a business.

According to the 'five types of small business owners",a(n)__________________ is characterised as someone who thrives on the challenge of building larger,more profitable business.

Someone who recognises a viable idea for a business product or service and carries it out is referred to as a(n):

A(n)_____________________ (four words)is the belief by individuals that their future is within their control and that other external forces will have little influence.

An arrangement by which the owner of a product or service allows others to purchase the right to distribute the product or service with help from the owner is known as Angel financing.

The very first step in starting an organisation is to have a __________________________ (two words).

A _____________________________________(two words)is an innovation that provides entrepreneurs with shared office space,management support services and management advice.

A business model that provides a shared office space,management support services and management/legal advice to entrepreneurs is known as a spin-off company.

According to the 'five types of small business owners',a(n)__________________ is characterised enjoying the chance to balance work and personal life.

Managers must tailor their planning,organising,leading and controlling to fit:

_____________________ (three words)is the psychological characteristic that allows a person to be untroubled by disorder and uncertainty.

Lynda believes that the failure of her new invention was due to her inability to spend enough time developing its features and form.We can infer that Linda must have an internal locus of control.

An intrepreneur is a person that acts as an entrepreneurial employee of an organisation.

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