Question 1

Which of the following is the differentiating feature between social entrepreneurs and general business entrepreneurs?

Accepted Answer

A)  A high tolerance for ambiguity 
B)  A desire to take great risks 
C)  A high degree of self-motivation 
D)  A drive toward a social mission 
A)  A high tolerance for ambiguity 
B)  A desire to take great risks 
C)  A high degree of self-motivation 
D)  A drive toward a social mission

Question 2

__________ represent the largest percentage of businesses operating worldwide.

Accepted Answer

A)  Family businesses 
B)  Start-ups 
C)  Big corporations 
D)  Public sector industries 
A)  Family businesses 
B)  Start-ups 
C)  Big corporations 
D)  Public sector industries

Question 3

In a __________, owners share profits, but responsibility for losses is limited to original investments.

Accepted Answer

A)  general partnership 
B)  limited partnership 
C)  proprietorship 
D)  limited liability corporation 
A)  general partnership 
B)  limited partnership 
C)  proprietorship 
D)  limited liability corporation

Question 4

A small business is one with 500 or fewer employees.

Accepted Answer

A) True 
 B)False

Question 5

In __________, new ventures go online to get start-up financing for their businesses from crowds of investors.

Accepted Answer

The answer of In __________, new ventures go online to...

Question 6

A(n) __________ occurs when a firm moves faster than its competitors in spotting and exploiting a new market or previously unrecognized niche in an existing one.

Accepted Answer

first-move

Question 7

A __________ is when one business owner sells to another the right to operate the same business in another location.

Accepted Answer

A)  franchise 
B)  chain 
C)  start-up 
D)  branch 
A)  franchise 
B)  chain 
C)  start-up 
D)  branch

Question 8

How would you evaluate your "fit" as an entrepreneur?

Accepted Answer

Student answers will vary. Thoughtful an

Question 9

People aged __________ are the most entrepreneurially active in the United States.

Accepted Answer

A)  25-34 
B)  45-54 
C)  55-64 
D)  75-84 
A)  25-34 
B)  45-54 
C)  55-64 
D)  75-84

Question 10

Which of the following types of entrepreneurship is targeted at solving the problems of the poor and disadvantaged?

Accepted Answer

A)  Minority entrepreneurship 
B)  Social entrepreneurship 
C)  Disadvantaged entrepreneurship 
D)  Welfare entrepreneurship 
A)  Minority entrepreneurship 
B)  Social entrepreneurship 
C)  Disadvantaged entrepreneurship 
D)  Welfare entrepreneurship

Question 11

A __________ is a plan for making a profit by generating revenues that are greater than costs.

Accepted Answer

A)  strategic model 
B)  business model 
C)  succession plan 
D)  business plan 
A)  strategic model 
B)  business model 
C)  succession plan 
D)  business plan

Question 12

Potential entrepreneurs often possess all of the following characteristics EXCEPT:

Accepted Answer

A)  a high need for achievement. 
B)  an intolerance for ambiguity. 
C)  flexibility. 
D)  a high energy level. 
A)  a high need for achievement. 
B)  an intolerance for ambiguity. 
C)  flexibility. 
D)  a high energy level.

Question 13

A partnership in which owners share management and responsibility for debts and losses is called a __________.

Accepted Answer

A)  limited liability partnership 
B)  specific partnership 
C)  general partnership 
D)  limited partnership 
A)  limited liability partnership 
B)  specific partnership 
C)  general partnership 
D)  limited partnership

Question 14

Compare and contrast the various structural options open to a small business organization.

Accepted Answer

Sole proprietorships offer ease, simplic

Question 15

What are the various means to fund new ventures? Define them and describe their advantages and disadvantages.

Accepted Answer

The means of funding new ventures are de

Question 16

Sadie is the president of Sadie's Stuff LLC. She owns 200,000 shares of the company. Sadie will earn a huge profit if the company has a successful __________.

Accepted Answer

A)  general partnership 
B)  joint venture 
C)  equity investor 
D)  initial public offering 
A)  general partnership 
B)  joint venture 
C)  equity investor 
D)  initial public offering

Question 17

A __________ combines the advantages of the sole proprietorship, partnership, and corporation.

Accepted Answer

A)  partnership 
B)  limited liability corporation 
C)  proprietorship 
D)  limited liability partnership 
A)  partnership 
B)  limited liability corporation 
C)  proprietorship 
D)  limited liability partnership

Question 18

In addition to the normal operational challenges of small businesses, family businesses face the risk of __________.

Accepted Answer

family bus

Question 19

Borrowing money from another person, a bank, or a financial institution to start a business is called __________.

Accepted Answer

A)  equity financing 
B)  initial public financing 
C)  debt financing 
D)  leasing 
A)  equity financing 
B)  initial public financing 
C)  debt financing 
D)  leasing

Question 20

Minority entrepreneurs create almost __________ million jobs in the United States.

Accepted Answer

A)  2 
B)  6 
C)  10 
D)  20 
A)  2 
B)  6 
C)  10 
D)  20

Which of the following is the differentiating feature between social entrepreneurs and general business entrepreneurs?

__________ represent the largest percentage of businesses operating worldwide.

In a __________, owners share profits, but responsibility for losses is limited to original investments.

A small business is one with 500 or fewer employees.

In __________, new ventures go online to get start-up financing for their businesses from crowds of investors.

A(n) __________ occurs when a firm moves faster than its competitors in spotting and exploiting a new market or previously unrecognized niche in an existing one.

A __________ is when one business owner sells to another the right to operate the same business in another location.

How would you evaluate your "fit" as an entrepreneur?

People aged __________ are the most entrepreneurially active in the United States.

Which of the following types of entrepreneurship is targeted at solving the problems of the poor and disadvantaged?

A __________ is a plan for making a profit by generating revenues that are greater than costs.

Potential entrepreneurs often possess all of the following characteristics EXCEPT:

A partnership in which owners share management and responsibility for debts and losses is called a __________.

Compare and contrast the various structural options open to a small business organization.

What are the various means to fund new ventures? Define them and describe their advantages and disadvantages.

Sadie is the president of Sadie's Stuff LLC. She owns 200,000 shares of the company. Sadie will earn a huge profit if the company has a successful __________.

A __________ combines the advantages of the sole proprietorship, partnership, and corporation.

In addition to the normal operational challenges of small businesses, family businesses face the risk of __________.

Borrowing money from another person, a bank, or a financial institution to start a business is called __________.

Minority entrepreneurs create almost __________ million jobs in the United States.

Management Today

Management Learning Past to Present

Ethics and Social Responsibility

Environment, Innovation, and Sustainability

Global Management and Cultural Diversity

Entrepreneurship and New Ventures

Information and Decision-Making

Control Processes and Systems

Strategy and Strategic Management

Organization Structures and Design

Organization Culture and Change

Strategic Human Resource Management

Leading and Leadership Development

Individual Behaviour

Motivation Theory and Practice

Communication and Collaboration

Planning Processes and Techniques

Filters

Exam 17: Teams and Teamwork

Which of the following is the differentiating feature between social entrepreneurs and general business entrepreneurs?

__________ represent the largest percentage of businesses operating worldwide.

In a __________, owners share profits, but responsibility for losses is limited to original investments.

A small business is one with 500 or fewer employees.

In __________, new ventures go online to get start-up financing for their businesses from crowds of investors.

A(n) __________ occurs when a firm moves faster than its competitors in spotting and exploiting a new market or previously unrecognized niche in an existing one.

A __________ is when one business owner sells to another the right to operate the same business in another location.

How would you evaluate your "fit" as an entrepreneur?

People aged __________ are the most entrepreneurially active in the United States.

Which of the following types of entrepreneurship is targeted at solving the problems of the poor and disadvantaged?

A __________ is a plan for making a profit by generating revenues that are greater than costs.

Potential entrepreneurs often possess all of the following characteristics EXCEPT:

A partnership in which owners share management and responsibility for debts and losses is called a __________.

Compare and contrast the various structural options open to a small business organization.

What are the various means to fund new ventures? Define them and describe their advantages and disadvantages.

Sadie is the president of Sadie's Stuff LLC. She owns 200,000 shares of the company. Sadie will earn a huge profit if the company has a successful __________.

A __________ combines the advantages of the sole proprietorship, partnership, and corporation.

In addition to the normal operational challenges of small businesses, family businesses face the risk of __________.

Borrowing money from another person, a bank, or a financial institution to start a business is called __________.

Minority entrepreneurs create almost __________ million jobs in the United States.

Management Today

Management Learning Past to Present

Ethics and Social Responsibility

Environment, Innovation, and Sustainability

Global Management and Cultural Diversity

Entrepreneurship and New Ventures

Information and Decision-Making

Control Processes and Systems

Strategy and Strategic Management

Organization Structures and Design

Organization Culture and Change

Strategic Human Resource Management

Leading and Leadership Development

Individual Behaviour

Motivation Theory and Practice

Communication and Collaboration

Planning Processes and Techniques

Filters