Exam 16: Managing Small Business Start-Ups

________refers to an arrangement by which the owner of a product or service allows others to purchase the right to distribute the product or service with help from the owner.

_________is an arrangement by which the owner of a product or service allows others to purchase the right to distribute the product or service with help from the owner.

Entrepreneurs in the sustainer category are rewarded by the personal satisfaction of being business owners.

Social entrepreneurship combines the creativity, business smarts, passion, and hard work of the traditional entrepreneur with a mission to change the world for the better.

Borrowing from family and friends is a common source of debt financing for a start-up business.

In the next decade, _________and_________ businesses could end up being the emerging growth companies.

Wendy enjoys making crafts and giving these away as gifts to friends and family. One day, she decided to quit her job and make crafts full-time, selling them on her new company Web site. Which tactic of becoming a business owner did Wendy use?

At which stage of growth is the company if it is solidly based and profitable?

The Swingset Company is at the stage where if financing is available and it is properly managed, rapid growth can occur. What stage is the Swingset Company experiencing?

Which of the following is the process of starting a business venture, organizing the resources, and taking the risks?

Social entrepreneurs are leaders who are committed to both good business and ensuring high profitability.

Formal planning, such as a strategic plan, is usually instituted during which stage?

An________ is someone who recognizes a viable idea for a business product or service and carries it out.

An _________is an artificial entity created by the state and existing apart from its owners.

Max is the Web site manager for a local florist. The company's owner would like Max to redesign the Web site so that customers can connect directly with florist employees on a daily basis about products and specials. This relates to which step in establishing an online business?

Today, inspired by the growth of companies such as Amazon.com, entrepreneurs are flocking to the to start new businesses.

What is the primary goal of the social entrepreneur?

Which of the following are high-energy people who enjoy handling every detail of their own businesses?

What is tolerance for ambiguity? Why is it an important trait?

Entrepreneurs in the sustainer category alike the chance to balance work and personal life and often don't want the business to grow too large.