Question 1

The central strategy of any entrepreneurial venture is growth, otherwise, the company will lose ground while standing still.

Accepted Answer

A) True 
 B)False  False

Question 2

Growth is good for employee morale because it provides the means for increasing productivity without adding additional resources.

Accepted Answer

A) True 
 B)False  False

Question 3

Part-time workers in an organization __________.

Accepted Answer

A)  are cheaper to employ than full-time workers as there are less fixed costs involved 
B)  have higher turnover and personal instability 
C)  have less commitment to the company 
D)  All of the answers are correct. 
E)  None of the answers apply. 
A)  are cheaper to employ than full-time workers as there are less fixed costs involved 
B)  have higher turnover and personal instability 
C)  have less commitment to the company 
D)  All of the answers are correct. 
E)  None of the answers apply. D

Question 4

The advantage of size to an entrepreneur is (are) which of the following?

Accepted Answer

A)  size enhances the legitimacy of the firm 
B)  larger firms are more attractive to suppliers which increases its bargaining power 
C)  higher volume increases production efficiency 
D)  All of the answers are correct. 
E)  None of the answers apply. 
A)  size enhances the legitimacy of the firm 
B)  larger firms are more attractive to suppliers which increases its bargaining power 
C)  higher volume increases production efficiency 
D)  All of the answers are correct. 
E)  None of the answers apply.

Question 5

The growth strategy that attempts to better exploit its original entry is known as a __________ growth strategy.

Accepted Answer

A)  penetration 
B)  product development 
C)  market development 
D)  diversification 
E)  None of the answers apply. 
A)  penetration 
B)  product development 
C)  market development 
D)  diversification 
E)  None of the answers apply.

Question 6

The makers of baking soda continually develop and promote new uses for their staple product to increase sales in new markets, which is a tactic of which of the following growth strategies?

Accepted Answer

A)  penetration 
B)  market development 
C)  product development 
D)  diversification 
E)  None of the answers apply. 
A)  penetration 
B)  market development 
C)  product development 
D)  diversification 
E)  None of the answers apply.

Question 7

A(n) __________ is a system for storing and using customer information.

Accepted Answer

A)  market grid 
B)  database 
C)  inventory 
D)  spreadsheet 
E)  None of the answers apply. 
A)  market grid 
B)  database 
C)  inventory 
D)  spreadsheet 
E)  None of the answers apply.

Question 8

For an entrepreneur with a growing venture, creating a positive organizational culture involves__________.

Accepted Answer

A)  communicating all matters to key employees 
B)  being willing to delegate responsibility 
C)  establishing a "we" spirit, not a "me" spirit in meetings and memorandum 
D)  providing for continuous training for employees 
E)  All of the answers are correct. 
A)  communicating all matters to key employees 
B)  being willing to delegate responsibility 
C)  establishing a "we" spirit, not a "me" spirit in meetings and memorandum 
D)  providing for continuous training for employees 
E)  All of the answers are correct.

Question 9

The entrepreneur has which of the following responsibilities regarding taxes?

Accepted Answer

A)  withhold and remit federal and provincial income taxes for employees 
B)  pay employer's portions of Employment Insurance (EI) and Canada Pension Plan (CPP) premiums 
C)  file end-of-year tax returns 
D)  withhold and remit employee's portions of Employment Insurance (EI) and Canada Pension Plan (CPP) premiums 
E)  All of the answers are correct. 
A)  withhold and remit federal and provincial income taxes for employees 
B)  pay employer's portions of Employment Insurance (EI) and Canada Pension Plan (CPP) premiums 
C)  file end-of-year tax returns 
D)  withhold and remit employee's portions of Employment Insurance (EI) and Canada Pension Plan (CPP) premiums 
E)  All of the answers are correct.

Question 10

McDonald's owns the meat processing plants that produce the hamburger patties for their restaurants, which is an example of __________.

Accepted Answer

A)  backwards integration 
B)  forward integration 
C)  horizontal integration 
D)  divergent diversification 
E)  None of the answers apply. 
A)  backwards integration 
B)  forward integration 
C)  horizontal integration 
D)  divergent diversification 
E)  None of the answers apply.

Question 11

The need or the magnitude of the new resources required by a growing venture can be reduced through_________.

Accepted Answer

A)  recycling of used resources 
B)  better management of existing resources 
C)  increased sales and profitability 
D)  deferral of capital expenditures 
E)  None of the answers apply. 
A)  recycling of used resources 
B)  better management of existing resources 
C)  increased sales and profitability 
D)  deferral of capital expenditures 
E)  None of the answers apply.

Question 12

A focus on the most important issues belongs to which of the following principles of time management?

Accepted Answer

A)  principle of desire 
B)  principle of effectiveness 
C)  principle of analysis 
D)  principle of teamwork 
E)  principle of prioritized planning 
A)  principle of desire 
B)  principle of effectiveness 
C)  principle of analysis 
D)  principle of teamwork 
E)  principle of prioritized planning

Question 13

As discussed in the Opening Profile to Chapter 11, the story of the PowerBar is a good example of__________.

Accepted Answer

A)  early growth fueled by diversification 
B)  entrepreneurs pursuing an opportunity based on market knowledge gained through experience 
C)  achieving long-term success by focusing all efforts on just one product 
D)  the creative use of venture capital funding 
E)  None of the answers apply. 
A)  early growth fueled by diversification 
B)  entrepreneurs pursuing an opportunity based on market knowledge gained through experience 
C)  achieving long-term success by focusing all efforts on just one product 
D)  the creative use of venture capital funding 
E)  None of the answers apply.

Question 14

From a general perspective, the objective of inventory control is to __________.

Accepted Answer

A)  not run out of inventory 
B)  eliminate the need to carry safety stock inventory 
C)  balance the cost of carrying inventory with the cost of lost sales 
D)  smooth out production schedules for maximum efficiency 
E)  respond to pressure from competitors when necessary 
A)  not run out of inventory 
B)  eliminate the need to carry safety stock inventory 
C)  balance the cost of carrying inventory with the cost of lost sales 
D)  smooth out production schedules for maximum efficiency 
E)  respond to pressure from competitors when necessary

Question 15

Successful growth in a small and medium-sized business takes commitment, resources, and a strategy.

Accepted Answer

A) True 
 B)False

Question 16

To reduce the need for acquiring new resources in a growing venture, an entrepreneur should focus on__________.

Accepted Answer

A)  financial control 
B)  managing inventory 
C)  maintaining good records 
D)  All of the answers are correct. 
E)  None of the answers apply. 
A)  financial control 
B)  managing inventory 
C)  maintaining good records 
D)  All of the answers are correct. 
E)  None of the answers apply.

Question 17

Product development growth strategies take advantage of the firm's relationships with existing customers.

Accepted Answer

A) True 
 B)False

Question 18

As discussed in the text, in the coming years, Canada will face which of the following human resources problems?

Accepted Answer

A)  high unemployment due to an abundance of labour 
B)  an over-educated work force unwilling to do less skilled labour 
C)  difficulty in finding good people due to a shortage of labour 
D)  a backlash against participative management styles 
E)  All of the answers are correct. 
A)  high unemployment due to an abundance of labour 
B)  an over-educated work force unwilling to do less skilled labour 
C)  difficulty in finding good people due to a shortage of labour 
D)  a backlash against participative management styles 
E)  All of the answers are correct.

Question 19

With regards to managing fixed assets, a growing venture may derive which of the following benefits from leasing?

Accepted Answer

A)  improved cash flow 
B)  tax deductibility for lease payments 
C)  longer term commitment 
D)  improved cash flow and tax deductibility for lease payments 
E)  All of the answers are correct. 
A)  improved cash flow 
B)  tax deductibility for lease payments 
C)  longer term commitment 
D)  improved cash flow and tax deductibility for lease payments 
E)  All of the answers are correct.

Question 20

Which of the following is not necessarily a benefit of time management?

Accepted Answer

A)  improved interpersonal relationships 
B)  increased productivity 
C)  higher quality of decision making 
D)  reduced time anxiety and tension 
E)  increased job satisfaction 
A)  improved interpersonal relationships 
B)  increased productivity 
C)  higher quality of decision making 
D)  reduced time anxiety and tension 
E)  increased job satisfaction

The central strategy of any entrepreneurial venture is growth, otherwise, the company will lose ground while standing still.

Growth is good for employee morale because it provides the means for increasing productivity without adding additional resources.

Part-time workers in an organization __________.

The advantage of size to an entrepreneur is (are) which of the following?

The growth strategy that attempts to better exploit its original entry is known as a __________ growth strategy.

The makers of baking soda continually develop and promote new uses for their staple product to increase sales in new markets, which is a tactic of which of the following growth strategies?

A(n) __________ is a system for storing and using customer information.

For an entrepreneur with a growing venture, creating a positive organizational culture involves__________.

The entrepreneur has which of the following responsibilities regarding taxes?

McDonald's owns the meat processing plants that produce the hamburger patties for their restaurants, which is an example of __________.

The need or the magnitude of the new resources required by a growing venture can be reduced through_________.

A focus on the most important issues belongs to which of the following principles of time management?

As discussed in the Opening Profile to Chapter 11, the story of the PowerBar is a good example of__________.

From a general perspective, the objective of inventory control is to __________.

Successful growth in a small and medium-sized business takes commitment, resources, and a strategy.

To reduce the need for acquiring new resources in a growing venture, an entrepreneur should focus on__________.

Product development growth strategies take advantage of the firm's relationships with existing customers.

As discussed in the text, in the coming years, Canada will face which of the following human resources problems?

With regards to managing fixed assets, a growing venture may derive which of the following benefits from leasing?

Which of the following is not necessarily a benefit of time management?

The Entrepreneurial Mind-Set

Corporate Entrepreneurship

Generating and Exploring New Entries

Creativity and the Business Idea

Identifying and Analyzing Domestic and International Opportunities

Protecting the Idea and Other Legal Issues for the Entrepreneur

The Business Plan: Creating and Starting the Venture

The Marketing Plan

The Organizational Plan

The Financial Plan

Informal Risk Capital, Venture Capital, and Going Public

Filters

Exam 11: Sources of Capital

The central strategy of any entrepreneurial venture is growth, otherwise, the company will lose ground while standing still.

Growth is good for employee morale because it provides the means for increasing productivity without adding additional resources.

Part-time workers in an organization __________.

The advantage of size to an entrepreneur is (are) which of the following?

The growth strategy that attempts to better exploit its original entry is known as a __________ growth strategy.

The makers of baking soda continually develop and promote new uses for their staple product to increase sales in new markets, which is a tactic of which of the following growth strategies?

A(n) __________ is a system for storing and using customer information.

For an entrepreneur with a growing venture, creating a positive organizational culture involves__________.

The entrepreneur has which of the following responsibilities regarding taxes?

McDonald's owns the meat processing plants that produce the hamburger patties for their restaurants, which is an example of __________.

The need or the magnitude of the new resources required by a growing venture can be reduced through_________.

A focus on the most important issues belongs to which of the following principles of time management?

As discussed in the Opening Profile to Chapter 11, the story of the PowerBar is a good example of__________.

From a general perspective, the objective of inventory control is to __________.

Successful growth in a small and medium-sized business takes commitment, resources, and a strategy.

To reduce the need for acquiring new resources in a growing venture, an entrepreneur should focus on__________.

Product development growth strategies take advantage of the firm's relationships with existing customers.

As discussed in the text, in the coming years, Canada will face which of the following human resources problems?

With regards to managing fixed assets, a growing venture may derive which of the following benefits from leasing?

Which of the following is not necessarily a benefit of time management?

The Entrepreneurial Mind-Set

Corporate Entrepreneurship

Generating and Exploring New Entries

Creativity and the Business Idea

Identifying and Analyzing Domestic and International Opportunities

Protecting the Idea and Other Legal Issues for the Entrepreneur

The Business Plan: Creating and Starting the Venture

The Marketing Plan

The Organizational Plan

The Financial Plan

Informal Risk Capital, Venture Capital, and Going Public

Filters