Question 1

The first stage of growth for an entrepreneurial company is the investment stage.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following is a popular small business form because it is easy to start and has few legal requirements?

Accepted Answer

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

Question 3

Jamila is a successful artist and entrepreneur who makes all of her work out of recycled goods because she believes in sustainability. She can be described as a social entrepreneur that is committed to:

Accepted Answer

A)  international human rights. 
B)  environmental protection. 
C)  children's rights. 
D)  industrial protectionism. 
E)  consumerism. 
A)  international human rights. 
B)  environmental protection. 
C)  children's rights. 
D)  industrial protectionism. 
E)  consumerism.

Question 4

One of the first characteristics or points of a successful business plan is:

Accepted Answer

A)  a profile of potential customers and market needs. 
B)  demonstrate a clear, compelling vision that creates an air of excitement. 
C)  the key ingredient of the business that will attract million of customers. 
D)  the entrepreneur's background and role in the company. 
E)  essential information about funding received so far. 
A)  a profile of potential customers and market needs. 
B)  demonstrate a clear, compelling vision that creates an air of excitement. 
C)  the key ingredient of the business that will attract million of customers. 
D)  the entrepreneur's background and role in the company. 
E)  essential information about funding received so far.

Question 5

Connie, a single mother and home-business entrepreneur, enjoys running her own business. However, because she is busy balancing work and family, she does not foresee her home business growing significantly in the near future. Connie can best be described as what type of entrepreneur?

Accepted Answer

A)  Idealist 
B)  Sustainer 
C)  Optimizer 
D)  Juggler 
E)  Hard worker 
A)  Idealist 
B)  Sustainer 
C)  Optimizer 
D)  Juggler 
E)  Hard worker

Question 6

The psychological characteristic that allows a person to be untroubled by disorder and uncertainty is called tolerance for ambiguity.

Accepted Answer

A) True 
 B)False

Question 7

The majority of the incubators are operated by_________ .

Accepted Answer

non-profit

Question 8

A domain name gives a company an address on the Web and a unique identity.

Accepted Answer

A) True 
 B)False

Question 9

Which of these is true about the business incubator?

Accepted Answer

A)  It gives up control since every business is run the same way. 
B)  It provides shared office space, management support services, and management advice. 
C)  It develops an international business. 
D)  It provides an established name and advertising. 
E)  All of these. 
A)  It gives up control since every business is run the same way. 
B)  It provides shared office space, management support services, and management advice. 
C)  It develops an international business. 
D)  It provides an established name and advertising. 
E)  All of these.

Question 10

During the latter stages of entrepreneurial growth, the manager:

Accepted Answer

A)  must learn to delegate and decentralize authority. 
B)  must institute greater use of rules and procedures. 
C)  must hire sufficient management to handle the growth. 
D)  all of these. 
E)  none of these. 
A)  must learn to delegate and decentralize authority. 
B)  must institute greater use of rules and procedures. 
C)  must hire sufficient management to handle the growth. 
D)  all of these. 
E)  none of these.

Question 11

The first step in pursuing an entrepreneurial dream is to come up with a viable idea.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following is an unincorporated business owned by two or more?

Accepted Answer

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

Question 13

Janelle is very innovative and attentive to detail. As she starts her own company, she leads her employees and ensures that every detail is attended to. As her company grows, she finds it more difficult to deal with and motivate her employees. She is more interested in the product. What stage of growth is Janelle's company going through?

Accepted Answer

A)  Resource maturity 
B)  Takeoff 
C)  Survival 
D)  Success 
E)  Existence 
A)  Resource maturity 
B)  Takeoff 
C)  Survival 
D)  Success 
E)  Existence

Question 14

In the_________ stage, the main problems for entrepreneurial firms are producing the product or service and obtaining customers.

Accepted Answer

The answer of In the_________ stage, the main problems for...

Question 15

An unincorporated business owned by an individual for profit is known as an_________ .

Accepted Answer

The answer of An unincorporated business owned by an individual...

Question 16

An advantage of which of these tactics is that there is a shorter start-up time and an existing track record?

Accepted Answer

A)  Participate in a business incubator 
B)  Start a new business 
C)  Buy a franchise 
D)  Buy an existing business 
E)  Debt financing 
A)  Participate in a business incubator 
B)  Start a new business 
C)  Buy a franchise 
D)  Buy an existing business 
E)  Debt financing

Question 17

The key problem, at the________ stage of growth, is how to grow rapidly and finance that growth.

Accepted Answer

A)  existence 
B)  survival 
C)  takeoff 
D)  resource maturity 
E)  success 
A)  existence 
B)  survival 
C)  takeoff 
D)  resource maturity 
E)  success

Question 18

Which of these refers to an unincorporated business owned by an individual for profit?

Accepted Answer

A)  Partnership 
B)  Sole proprietorship 
C)  Corporation 
D)  Association 
E)  Trade alliance 
A)  Partnership 
B)  Sole proprietorship 
C)  Corporation 
D)  Association 
E)  Trade alliance

Question 19

Blake, Madison and Sean started selling computer software on college campuses under the name Student Software Company. Each person contributed $1500 toward start-up costs and agreed on dividing costs and profits equally. The legal structure for the company can best be described as:

Accepted Answer

A)  a proprietorship. 
B)  a partnership. 
C)  a trade alliance. 
D)  a corporation. 
E)  none of these. 
A)  a proprietorship. 
B)  a partnership. 
C)  a trade alliance. 
D)  a corporation. 
E)  none of these.

Question 20

_________financing consists of funds that are invested in exchange for ownership in the company.

Accepted Answer

The answer of _________financing consists of funds that are invested...

The first stage of growth for an entrepreneurial company is the investment stage.

Which of the following is a popular small business form because it is easy to start and has few legal requirements?

Jamila is a successful artist and entrepreneur who makes all of her work out of recycled goods because she believes in sustainability. She can be described as a social entrepreneur that is committed to:

One of the first characteristics or points of a successful business plan is:

Connie, a single mother and home-business entrepreneur, enjoys running her own business. However, because she is busy balancing work and family, she does not foresee her home business growing significantly in the near future. Connie can best be described as what type of entrepreneur?

The psychological characteristic that allows a person to be untroubled by disorder and uncertainty is called tolerance for ambiguity.

The majority of the incubators are operated by_________ .

A domain name gives a company an address on the Web and a unique identity.

Which of these is true about the business incubator?

During the latter stages of entrepreneurial growth, the manager:

The first step in pursuing an entrepreneurial dream is to come up with a viable idea.

Which of the following is an unincorporated business owned by two or more?

In the_________ stage, the main problems for entrepreneurial firms are producing the product or service and obtaining customers.

An unincorporated business owned by an individual for profit is known as an_________ .

An advantage of which of these tactics is that there is a shorter start-up time and an existing track record?

The key problem, at the________ stage of growth, is how to grow rapidly and finance that growth.

Which of these refers to an unincorporated business owned by an individual for profit?

Blake, Madison and Sean started selling computer software on college campuses under the name Student Software Company. Each person contributed $1500 toward start-up costs and agreed on dividing costs and profits equally. The legal structure for the company can best be described as:

_________financing consists of funds that are invested in exchange for ownership in the company.

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

The first stage of growth for an entrepreneurial company is the investment stage.

Which of the following is a popular small business form because it is easy to start and has few legal requirements?

Jamila is a successful artist and entrepreneur who makes all of her work out of recycled goods because she believes in sustainability. She can be described as a social entrepreneur that is committed to:

One of the first characteristics or points of a successful business plan is:

Connie, a single mother and home-business entrepreneur, enjoys running her own business. However, because she is busy balancing work and family, she does not foresee her home business growing significantly in the near future. Connie can best be described as what type of entrepreneur?

The psychological characteristic that allows a person to be untroubled by disorder and uncertainty is called tolerance for ambiguity.

The majority of the incubators are operated by_________ .

A domain name gives a company an address on the Web and a unique identity.

Which of these is true about the business incubator?

During the latter stages of entrepreneurial growth, the manager:

The first step in pursuing an entrepreneurial dream is to come up with a viable idea.

Which of the following is an unincorporated business owned by two or more?

In the_________ stage, the main problems for entrepreneurial firms are producing the product or service and obtaining customers.

An unincorporated business owned by an individual for profit is known as an_________ .

An advantage of which of these tactics is that there is a shorter start-up time and an existing track record?

The key problem, at the________ stage of growth, is how to grow rapidly and finance that growth.

Which of these refers to an unincorporated business owned by an individual for profit?

Blake, Madison and Sean started selling computer software on college campuses under the name Student Software Company. Each person contributed $1500 toward start-up costs and agreed on dividing costs and profits equally. The legal structure for the company can best be described as:

_________financing consists of funds that are invested in exchange for ownership in the company.

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