Question 1

All of these are entrepreneurial characteristics except:

Accepted Answer

A)  self-confidence. 
B)  tolerance for ambiguity. 
C)  external locus of control. 
D)  high energy level. 
E)  awareness of passing time. 
A)  self-confidence. 
B)  tolerance for ambiguity. 
C)  external locus of control. 
D)  high energy level. 
E)  awareness of passing time.

Question 2

The owner should start implementing more structured control systems by Stage 3 of growth for an entrepreneurial firm.

Accepted Answer

A) True 
 B)False

Question 3

Define a corporation and briefly discuss the primary advantages and disadvantages of forming a corporation.

Accepted Answer

A corporation is a business form that is

Question 4

The process of initiating a business venture, organizing it, and assuming its risks is known as _________.

Accepted Answer

The answer of The process of initiating a business venture,...

Question 5

_________firms are groups of companies or individuals that invest money in exchange for a stake in the company.

Accepted Answer

The answer of _________firms are groups of companies or individuals...

Question 6

Social entrepreneurs have a primary goal of improving society rather than maximizing profits.

Accepted Answer

A) True 
 B)False

Question 7

Name and describe the five different categories of small business owners.

Accepted Answer

The five categories are idealists, optim

Question 8

An________ has a legal life of its own.

Accepted Answer

A)  partnership 
B)  proprietorship 
C)  corporation 
D)  association 
E)  trade alliance 
A)  partnership 
B)  proprietorship 
C)  corporation 
D)  association 
E)  trade alliance

Question 9

The advantage of buying an existing business is the ability to develop and design the business in the entrepreneur's own way.

Accepted Answer

A) True 
 B)False

Question 10

Approximately 600,000 new businesses are launched in the U.S. each year by entrepreneurs.

Accepted Answer

A) True 
 B)False

Question 11

Borrowing money that has to be repaid at a later date in order to start a business is_________ .

Accepted Answer

The answer of Borrowing money that has to be repaid...

Question 12

A document specifying the business details prepared by an entrepreneur prior to opening a new business is known as a business plan.

Accepted Answer

A) True 
 B)False

Question 13

Melissa is a very good middle manager. However, she has long wanted to open her own business. Which of Melissa's characteristics is not consistent with entrepreneurship?

Accepted Answer

A)  Melissa has high self-confidence. 
B)  Melissa tends to put things off till later. 
C)  She is untroubled by uncertainty. 
D)  She has a high energy level. 
E)  She has high need to achieve. 
A)  Melissa has high self-confidence. 
B)  Melissa tends to put things off till later. 
C)  She is untroubled by uncertainty. 
D)  She has a high energy level. 
E)  She has high need to achieve.

Question 14

Particularly in a turbulent environment, the three most important traits of successful entrepreneurs are realism, flexibility, and passion.

Accepted Answer

A) True 
 B)False

Question 15

The process of initiating a business venture, gathering and organizing the appropriate resources, and assuming the associated risks and rewards refers to entrepreneurship.

Accepted Answer

A) True 
 B)False

Question 16

Tracy's Trikes believes that each employee should enjoy the idea of working on something that is new, creative, or personally meaningful. Tracy's Trikes exemplifies which of the categories of small business owners?

Accepted Answer

A)  Optimizers 
B)  Idealists 
C)  Hard workers 
D)  Sustainers 
E)  Jugglers 
A)  Optimizers 
B)  Idealists 
C)  Hard workers 
D)  Sustainers 
E)  Jugglers

Question 17

An_________ recognizes a viable idea for a business product or service and carries it out.

Accepted Answer

The answer of An_________ recognizes a viable idea for a...

Question 18

An_________ is an unincorporated business owned by two or more people.

Accepted Answer

The answer of An_________ is an unincorporated business owned by...

Question 19

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

Accepted Answer

A) True 
 B)False

Question 20

Which of the following demographic factors distinguish entrepreneurs from others?

Accepted Answer

A)  They are likely the youngest child in their family. 
B)  Most entrepreneurs launch their businesses between the ages of 35 and 55. 
C)  Their parents likely worked for large companies. 
D)  They are likely the children of immigrants. 
E)  All of these. 
A)  They are likely the youngest child in their family. 
B)  Most entrepreneurs launch their businesses between the ages of 35 and 55. 
C)  Their parents likely worked for large companies. 
D)  They are likely the children of immigrants. 
E)  All of these.

All of these are entrepreneurial characteristics except:

The owner should start implementing more structured control systems by Stage 3 of growth for an entrepreneurial firm.

Define a corporation and briefly discuss the primary advantages and disadvantages of forming a corporation.

The process of initiating a business venture, organizing it, and assuming its risks is known as _________.

_________firms are groups of companies or individuals that invest money in exchange for a stake in the company.

Social entrepreneurs have a primary goal of improving society rather than maximizing profits.

Name and describe the five different categories of small business owners.

An________ has a legal life of its own.

The advantage of buying an existing business is the ability to develop and design the business in the entrepreneur's own way.

Approximately 600,000 new businesses are launched in the U.S. each year by entrepreneurs.

Borrowing money that has to be repaid at a later date in order to start a business is_________ .

A document specifying the business details prepared by an entrepreneur prior to opening a new business is known as a business plan.

Melissa is a very good middle manager. However, she has long wanted to open her own business. Which of Melissa's characteristics is not consistent with entrepreneurship?

Particularly in a turbulent environment, the three most important traits of successful entrepreneurs are realism, flexibility, and passion.

The process of initiating a business venture, gathering and organizing the appropriate resources, and assuming the associated risks and rewards refers to entrepreneurship.

Tracy's Trikes believes that each employee should enjoy the idea of working on something that is new, creative, or personally meaningful. Tracy's Trikes exemplifies which of the categories of small business owners?

An_________ recognizes a viable idea for a business product or service and carries it out.

An_________ is an unincorporated business owned by two or more people.

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

Which of the following demographic factors distinguish entrepreneurs from others?

Innovative Management for a Changing World

The Environment and Corporate Culture

Managing in a Global Environment

Managing Ethics and Social Responsibility

Managerial Planning and Goal Setting

Managerial Decision Making

Designing Adaptive Organizations

Managing Change and Innovation

Managing Human Resources and Diversity

Understanding Individual Behavior

Leadership

Motivating Employees

Managing Communication

Leading Teams

Managing Quality and Performance

Filters

Exam 16: Managing Small Business Start-Ups

All of these are entrepreneurial characteristics except:

The owner should start implementing more structured control systems by Stage 3 of growth for an entrepreneurial firm.

Define a corporation and briefly discuss the primary advantages and disadvantages of forming a corporation.

The process of initiating a business venture, organizing it, and assuming its risks is known as _________.

_________firms are groups of companies or individuals that invest money in exchange for a stake in the company.

Social entrepreneurs have a primary goal of improving society rather than maximizing profits.

Name and describe the five different categories of small business owners.

An________ has a legal life of its own.

The advantage of buying an existing business is the ability to develop and design the business in the entrepreneur's own way.

Approximately 600,000 new businesses are launched in the U.S. each year by entrepreneurs.

Borrowing money that has to be repaid at a later date in order to start a business is_________ .

A document specifying the business details prepared by an entrepreneur prior to opening a new business is known as a business plan.

Melissa is a very good middle manager. However, she has long wanted to open her own business. Which of Melissa's characteristics is not consistent with entrepreneurship?

Particularly in a turbulent environment, the three most important traits of successful entrepreneurs are realism, flexibility, and passion.

The process of initiating a business venture, gathering and organizing the appropriate resources, and assuming the associated risks and rewards refers to entrepreneurship.

Tracy's Trikes believes that each employee should enjoy the idea of working on something that is new, creative, or personally meaningful. Tracy's Trikes exemplifies which of the categories of small business owners?

An_________ recognizes a viable idea for a business product or service and carries it out.

An_________ is an unincorporated business owned by two or more people.

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

Which of the following demographic factors distinguish entrepreneurs from others?

Innovative Management for a Changing World

The Environment and Corporate Culture

Managing in a Global Environment

Managing Ethics and Social Responsibility

Managerial Planning and Goal Setting

Managerial Decision Making

Designing Adaptive Organizations

Managing Change and Innovation

Managing Human Resources and Diversity

Understanding Individual Behavior

Leadership

Motivating Employees

Managing Communication

Leading Teams

Managing Quality and Performance

Filters