Exam 6: Managing Start-Ups and New Ventures

A ______________ is a legal entity created as a legal entity by the state and existing apart from its owners.

Two principle advantages of forming a corporation are continuity and limits on the owners' liability.

List the five types of small business owner.

Define the terms 'social entrepreneurship' and 'social entrepreneurs'.

A(n)______________________(two words)is a leader who is committed to both good business and positive social change.

List the six characteristics of entrepreneurs.

Which of these is the process of recognising the need for innovation and promoting it within an organisation?

All of these are entrepreneurial characteristics,except:

The success stage occurs after takeoff stage in the five stages of growth for an entrepreneurial company.

Which of these offers the advantage that the entrepreneur has the ability to develop and design the business in the entrepreneur's own way?

When funds are invested in exchange for ownership in the company,it is called equity financing.

The innovation process requires organisations (and entrepreneurs)to avoid risk at all costs.

Globalisation and increased competition give an advantage to large businesses which can offer the flexibility and fast response that small companies can't offer.

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

Funding that is raised by a large number of investors giving small amounts of money,typically through social media and the Internet,is known as crowdsourcing.

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:

Social entrepreneurship focuses on creating social value by providing solutions to social problems,but with a primary purpose of generating profit and returns.

A(n)____________ is an unincorporated business owned by two or more people.

A(n)__________________(two words)is a document specifying the business details prepared by an entrepreneur in preparation for opening a new business.

_________________ (two words)combines the creativity,business smarts,passion and hard work of the traditional entrepreneur with a mission to change the world for the better.