Exam 1: Foundations for Small Business

_____ involves the marketing, selling, and buying of goods and services online.

_____ is a small device that enables the tracking of inventory items.

One third of all US corporate bankruptcies are caused directly by employee theft.

The Small Business Administration (SBA) now defines the limit of how many employees for most industrial firms as:

Which stage of the industry life cycle finds the industry in its infancy?

During the last quarter century, small businesses have not played a major role in the US economy or and job creation.

Which of the following is NOT true?

In this stage of the industry life cycle the business is very large, very bureaucratic, and top-management heavy.

The Small Business Administration limits its definition of a small business (for a majority of industrial firms) to ____ employees.

Ethics are about doing the right thing.

If you are involved in a debate, I would you defend the support of small business in the American economy?

What factors contributed to the rise of big business in the American economy?

The form of business failure where the owner ceases operation because the firm is losing money and wants to avoid losses to its creditors is known as

_____ uses the Internet and online technologies to create operational efficiencies, thereby increasing value to the customer.

E-business and e-commerce mean the same thing.

The notion that a corporation has "personhood" came about because of the

Ethics are about following cultural norms.

For small businesses that want to grow, why is an understanding of the organizational life cycle (OLC) important?

_____ is about applying the virtue and discipline of ethics to business behavior.

Early Americans had some suspicions about large business enterprises (corporations).