Exam 6: Entrepreneurship and Small Business Ownership

Keri Sears uses the funding platform Kickstarter to solicit money to start a not-for-profit organization that promotes folk musicians and revives interest in the folk and traditional forms of music in America.She invites people to fund the business project and she states that donors will be honored on the organization's website.She sets a six month goal to raise the money.Keri is using which of the following forms of financing?

Which of the following is true regarding high-growth ventures?

R&M Group,a consumer products company based in Libya,conducted a market research.The research indicated that there was a lack of branded soft drinks in the market,even though there were several local soft-drink manufacturers.The company purchased the right to produce and distribute soft drinks of Fizzpop Inc.(a leading U.S.based soft-drinks firm)R&M Group also sources the supplies from Fizzpop Inc.to ensure that the taste of the product remains the same.In this scenario,which of the following business methods does R&M Group use?

When companies go public,they put out an IPO,or independent public offering.

An advisory board differs from a corporate board of directors,because ________.

A business plan is a written document that summarizes the ________.

A(n)________ is a form of "group mentoring" in which you assemble a team of people with subject-area expertise or vital contacts to help review plans and decisions.

Compare and contrast creating a new,independent business with buying into a franchise system.

Compare and contrast business partners with mentors and advisory boards as sources of advice and support for entrepreneurs?

Briefly describe what a business plan is and discuss its importance in starting a business.

________ are organizations,often not-for-profit,that lend smaller amounts of money to business owners who might not qualify for conventional bank loans.

Which of the following is a quality that a successful entrepreneur is most likely to have?

In exchange for a small share of ownership,KMC Group makes a small investment in TechPro,a new,independent software firm.KMC Group provides support to TechPro during its early stages by helping the founders refine their ideas,hire suitable employees and train them,establish connections with industry insiders,and deal with legal issues.KMC Group is most likely to be a(n)________.

Intrapreneurship refers to ________.

Three factors contributing to the increased number of small businesses are technologies such as e-commerce,growing diversity in entrepreneurship,and ________.

Investors who provide money to finance new businesses or turnarounds in exchange for a portion of ownership,with the objective of reselling the business at a profit are called ________.

Compared to starting a new business,buying an existing business can involve more work and more risk.

At the federal level,small businesses can apply for loans backed by the ________.

Funding a new business with credit cards or a personal line of credit ________.

Which of the following is an advantage of buying into a franchise system?