Question 1

Which of these statements comparing large and small businesses is TRUE?

Accepted Answer

A)  Big businesses outnumber small businesses by a wide margin. 
B)  Tax policies favor medium-sized businesses. 
C)  Small businesses show consistently lower financial performance than big businesses. 
D)  Business success creates jobs regardless of size. 
E)  Small business formations are on the decline,but the rate for big businesses is increasing. 
A)  Big businesses outnumber small businesses by a wide margin. 
B)  Tax policies favor medium-sized businesses. 
C)  Small businesses show consistently lower financial performance than big businesses. 
D)  Business success creates jobs regardless of size. 
E)  Small business formations are on the decline,but the rate for big businesses is increasing.

Question 2

What is the most common source of funds for entrepreneurs?

Accepted Answer

A)  Bank loans 
B)  Money from venture capitalists 
C)  Personal financial resources 
D)  Issuing stock in the business 
E)  Forming strategic alliances 
A)  Bank loans 
B)  Money from venture capitalists 
C)  Personal financial resources 
D)  Issuing stock in the business 
E)  Forming strategic alliances

Question 3

Match the following.You may use a response once,more than once,or not at all.
-Obtains ongoing access to advice from experts

Accepted Answer

A) Starting a business from scratch 
B) Buying an existing business 
C) Buying a franchise 
D) Both starting a business from scratch and buying an existing business 
E) Both buying an existing business and buying a franchise 
A) Starting a business from scratch 
B) Buying an existing business 
C) Buying a franchise 
D) Both starting a business from scratch and buying an existing business 
E) Both buying an existing business and buying a franchise

Question 4

How has e-commerce affected entrepreneurship?

Accepted Answer

E-commerce has had a profound impact on

Question 5

Large businesses are more likely to succeed in the manufacturing industry than small businesses due to

Accepted Answer

A)  the principle of synergy. 
B)  economies of scale. 
C)  divesting. 
D)  the need for minimal start-up resources. 
E)  proven business plans. 
A)  the principle of synergy. 
B)  economies of scale. 
C)  divesting. 
D)  the need for minimal start-up resources. 
E)  proven business plans.

Question 6

Which of the following statements explains why small businesses are generally more effective than large companies in specialty retailing?

Accepted Answer

A)  Large companies generally lack the specialists that are needed to make a retail store profitable. 
B)  Specialty retail stores are generally located in small towns where large organizations tend not to compete. 
C)  Specialty retailing requires a different organizational structure than is usually found in large companies. 
D)  Innovative people leave the bureaucracy of big business to start their own firms. 
E)  Specialty retailing relies on customization,which is not cost effective for large companies. 
A)  Large companies generally lack the specialists that are needed to make a retail store profitable. 
B)  Specialty retail stores are generally located in small towns where large organizations tend not to compete. 
C)  Specialty retailing requires a different organizational structure than is usually found in large companies. 
D)  Innovative people leave the bureaucracy of big business to start their own firms. 
E)  Specialty retailing relies on customization,which is not cost effective for large companies.

Question 7

A(n)____________________ business sells directly to consumers products manufactured by other firms.

Accepted Answer

The answer of A(n)____________________ business sells directly to consumers products...

Question 8

Which of the following is NOT considered to be a distinctive competency for small business?

Accepted Answer

A)  Ability to move quickly to seize new opportunities 
B)  Ability to achieve economies of scale 
C)  Ability to identify new niches in established markets 
D)  Ability to identify new markets 
E)  Ability to exploit a first-mover advantage 
A)  Ability to move quickly to seize new opportunities 
B)  Ability to achieve economies of scale 
C)  Ability to identify new niches in established markets 
D)  Ability to identify new markets 
E)  Ability to exploit a first-mover advantage

Question 9

Under the guidance of the ____,veteran business professors and students seeking advanced degrees work with small business owners to help solve specific problems like shoplifting and ineffectual advertising.

Accepted Answer

A)  Active Corps of Executives (AC
E)  
B)  National Federation of Independent Businesses (NFI
B)  
C)  Small Business Development Center (SBD
C)  
D)  Small Business Institute (SBI) 
E)  Service Corps of Retired Executives (SCOR
E)  
A)  Active Corps of Executives (AC
E)  
B)  National Federation of Independent Businesses (NFI
B)  
C)  Small Business Development Center (SBD
C)  
D)  Small Business Institute (SBI) 
E)  Service Corps of Retired Executives (SCOR
E)

Question 10

Match the following.You may use a response once,more than once,or not at all.
-Entrepreneurs who are overly optimistic about when they will start earning a profit

Accepted Answer

A) Managerial incompetence 
B) Neglect 
C) Control system 
D) Insufficient capital 
A) Managerial incompetence 
B) Neglect 
C) Control system 
D) Insufficient capital

Question 11

The risks of starting a business from scratch are less than those of buying an existing firm.

Accepted Answer

A) True 
 B)False

Question 12

Women tend to start their own businesses because they really like being their own bosses.

Accepted Answer

A) True 
 B)False

Question 13

A(n)____________________ is an enterprise with sales and assets that are not large enough to influence its environment.

Accepted Answer

The answer of A(n)____________________ is an enterprise with sales and...

Question 14

Which of the following is an example of a first-mover advantage?

Accepted Answer

A)  Orange County Choppers,builders of custom motorcycles,can exploit their own reality television show. 
B)  The manufacturer of Blistex lip cream,a U.S.-made product,is introduced for the first time to consumers in Europe. 
C)  Coca-Cola introduces its own brand of bottled water after the success of a number of other brands of water. 
D)  Kroger supermarkets add a new line of cosmetics for teens to its shelves. 
E)  Purina introduces a new package design for its dog food. 
A)  Orange County Choppers,builders of custom motorcycles,can exploit their own reality television show. 
B)  The manufacturer of Blistex lip cream,a U.S.-made product,is introduced for the first time to consumers in Europe. 
C)  Coca-Cola introduces its own brand of bottled water after the success of a number of other brands of water. 
D)  Kroger supermarkets add a new line of cosmetics for teens to its shelves. 
E)  Purina introduces a new package design for its dog food.

Question 15

Which of the following is NOT a source of management advice for an entrepreneur?

Accepted Answer

A)  Management consultants 
B)  Small Business Administration (SB
A)  
C)  Networking 
D)  Advisory boards 
E)  Securities and Exchange Commission (SE
C)  
A)  Management consultants 
B)  Small Business Administration (SB
A)  
C)  Networking 
D)  Advisory boards 
E)  Securities and Exchange Commission (SE
C)

Question 16

In which of the following ventures would a small business operator be most effective?

Accepted Answer

A)  Construction 
B)  Transportation 
C)  Services 
D)  Manufacturing 
E)  Wholesale 
A)  Construction 
B)  Transportation 
C)  Services 
D)  Manufacturing 
E)  Wholesale

Question 17

Getting into business today is easier and faster than ever before and there are many more potential opportunities than at any other time in history.

Accepted Answer

A) True 
 B)False

Question 18

The more resources an industry requires,the harder it is to start a business and the less likely that the industry is dominated by small firms.

Accepted Answer

A) True 
 B)False

Question 19

Which activity in developing a business plan is the most important?

Accepted Answer

A)  Choosing a business location 
B)  Researching the market 
C)  Choosing a product mix 
D)  Developing a production plan 
E)  Developing an organization chart 
A)  Choosing a business location 
B)  Researching the market 
C)  Choosing a product mix 
D)  Developing a production plan 
E)  Developing an organization chart

Question 20

Professional managers who run someone else's business are not entrepreneurs.

Accepted Answer

A) True 
 B)False

Which of these statements comparing large and small businesses is TRUE?

What is the most common source of funds for entrepreneurs?

Match the following.You may use a response once,more than once,or not at all. -Obtains ongoing access to advice from experts

How has e-commerce affected entrepreneurship?

Large businesses are more likely to succeed in the manufacturing industry than small businesses due to

Which of the following statements explains why small businesses are generally more effective than large companies in specialty retailing?

A(n)____________________ business sells directly to consumers products manufactured by other firms.

Which of the following is NOT considered to be a distinctive competency for small business?

Under the guidance of the ____,veteran business professors and students seeking advanced degrees work with small business owners to help solve specific problems like shoplifting and ineffectual advertising.

Match the following.You may use a response once,more than once,or not at all. -Entrepreneurs who are overly optimistic about when they will start earning a profit

The risks of starting a business from scratch are less than those of buying an existing firm.

Women tend to start their own businesses because they really like being their own bosses.

A(n)____________________ is an enterprise with sales and assets that are not large enough to influence its environment.

Which of the following is an example of a first-mover advantage?

Which of the following is NOT a source of management advice for an entrepreneur?

In which of the following ventures would a small business operator be most effective?

Getting into business today is easier and faster than ever before and there are many more potential opportunities than at any other time in history.

The more resources an industry requires,the harder it is to start a business and the less likely that the industry is dominated by small firms.

Which activity in developing a business plan is the most important?

Professional managers who run someone else's business are not entrepreneurs.

Managing and the Managers Job

Traditional and Contemporary Opportunities and Challenges

Understanding the Organizations Environment

Responding to the Ethical and Social Environment

Navigating the Global Environment

Basic Elements of Planning and Decision Making

Managing Strategy and Strategic Planning

Managing Decision Making and Problem Solving

Basic Elements of Organizing

Managing Organization Design

Managing Change and Innovation

Managing Human Resources

Basic Elements of Individual and Interpersonal Behavior

Managing Employee Motivation and Performance

Managing Leadership and Influence Processes

Managing Interpersonal Relations and Communication

Managing Work Groups and Teams

Basic Elements of Control

Managing Operations, quality, and Productivity

Filters

Exam 9: Managing Start-Ups and New Ventures

Which of these statements comparing large and small businesses is TRUE?

What is the most common source of funds for entrepreneurs?

Match the following.You may use a response once,more than once,or not at all. -Obtains ongoing access to advice from experts

How has e-commerce affected entrepreneurship?

Large businesses are more likely to succeed in the manufacturing industry than small businesses due to

Which of the following statements explains why small businesses are generally more effective than large companies in specialty retailing?

A(n)____________________ business sells directly to consumers products manufactured by other firms.

Which of the following is NOT considered to be a distinctive competency for small business?

Under the guidance of the ____,veteran business professors and students seeking advanced degrees work with small business owners to help solve specific problems like shoplifting and ineffectual advertising.

Match the following.You may use a response once,more than once,or not at all. -Entrepreneurs who are overly optimistic about when they will start earning a profit

The risks of starting a business from scratch are less than those of buying an existing firm.

Women tend to start their own businesses because they really like being their own bosses.

A(n)____________________ is an enterprise with sales and assets that are not large enough to influence its environment.

Which of the following is an example of a first-mover advantage?

Which of the following is NOT a source of management advice for an entrepreneur?

In which of the following ventures would a small business operator be most effective?

Getting into business today is easier and faster than ever before and there are many more potential opportunities than at any other time in history.

The more resources an industry requires,the harder it is to start a business and the less likely that the industry is dominated by small firms.

Which activity in developing a business plan is the most important?

Professional managers who run someone else's business are not entrepreneurs.

Managing and the Managers Job

Traditional and Contemporary Opportunities and Challenges

Understanding the Organizations Environment

Responding to the Ethical and Social Environment

Navigating the Global Environment

Basic Elements of Planning and Decision Making

Managing Strategy and Strategic Planning

Managing Decision Making and Problem Solving

Basic Elements of Organizing

Managing Organization Design

Managing Change and Innovation

Managing Human Resources

Basic Elements of Individual and Interpersonal Behavior

Managing Employee Motivation and Performance

Managing Leadership and Influence Processes

Managing Interpersonal Relations and Communication

Managing Work Groups and Teams

Basic Elements of Control

Managing Operations, quality, and Productivity

Filters