Exam 6: Entrepreneurship and New Ventures

Daphne decided to open her first store in Dallas. Being new to the business, she was unable to cope with the demands of running her store, and after several bad decisions, she finally had to shut it down. What was most likely the main reason for the failure of Daphne's business?

Entrepreneurs need more strategic leadership in the early life cycle stages of entrepreneurial companies than they do in later life cycle stages.

Which of the following is true about serial entrepreneurs?

President ____ called crowdfunding a "game changer" when he signed the Jumpstart Our Business Startups Act.

A(n) _____ is a new and temporary venture that is trying to discover a profitable business model for future success.

A(n) ____ is a new and temporary venture that is trying to discover a profitable business model for future success.

In crowdfunding, entrepreneurs starting new ventures go ____ to get startup financing from crowds of investors.

Barbara, a florist, realized the need for easily accessible organic compost in her neighborhood. Her neighborhood consists mainly of senior citizens who are unable to procure their own gardening supplies. She quickly established "We Compost," a non-profit organization that delivers compost to each household in her neighborhood. This is an example of _____.

Kickstarter and AngelList are examples of websites that help with

A(n) _____ necessarily has 500 or fewer employees, is independently owned and operated, and does not dominate its industry.

Stating that the failure of a small business was due to "ethical failure" implies:

According to the life cycle of entrepreneurial firms, the birth stage signifies the stage in which the:

In a business plan outline, the _____ provide(s) details of cash flow estimate for one to five years, break-even points, and phased investment capital.

Social enterprises have a social mission to help make lives better for underserved populations.

Equity financing involves exchanging ownership shares for ____ investment monies.

According to the life cycle of entrepreneurial firms, the breakthrough stage signifies the stage in which the:

The breakthrough stage involves establishing the firm and fighting for its existence.

Necessity-based ____ takes place because other employment options don't exist.

If an entrepreneur uses social media to obtain startup financing from willing providers, this is called

A(n) ____ is when one business owner sells to another the right to operate the same business in another location.