Question 1

Finding new groups of customers to sell to is an example of a market development growth strategy.

Accepted Answer

A) True 
 B)False

Question 2

Exporting is a good example of a penetration growth strategy because it increases the firm's market share in new markets.

Accepted Answer

A) True 
 B)False

Question 3

The process of firing incompetent employees is made easier for the entrepreneur if __________.

Accepted Answer

A)  the organization employs more full-time workers than part-time 
B)  area unemployment is low 
C)  the firm has a generous compensation plan 
D)  a fair employee evaluation process is in place and being used 
E)  All of the answers are correct. 
A)  the organization employs more full-time workers than part-time 
B)  area unemployment is low 
C)  the firm has a generous compensation plan 
D)  a fair employee evaluation process is in place and being used 
E)  All of the answers are correct.

Question 4

The key element for maintaining the desired corporate culture in a growing venture is __________.

Accepted Answer

A)  hiring only older workers who have experience working in a similar environment 
B)  the entrepreneur taking responsibility for it and leading by example 
C)  hiring younger workers with no experience and then indoctrinating them to learn "the way" 
D)  following the government standards for employee rights and responsibilities 
E)  None of the answers apply. 
A)  hiring only older workers who have experience working in a similar environment 
B)  the entrepreneur taking responsibility for it and leading by example 
C)  hiring younger workers with no experience and then indoctrinating them to learn "the way" 
D)  following the government standards for employee rights and responsibilities 
E)  None of the answers apply.

Question 5

Finding new uses for an existing product such as baking soda, is a good example of a product development growth strategy.

Accepted Answer

A) True 
 B)False

Question 6

As discussed in the text, many entrepreneurs find that as the venture grows, they need to change__________.

Accepted Answer

A)  their legal representation 
B)  their attitude towards customer satisfaction 
C)  their management style 
D)  their sense of intuition 
E)  None of the answers apply. 
A)  their legal representation 
B)  their attitude towards customer satisfaction 
C)  their management style 
D)  their sense of intuition 
E)  None of the answers apply.

Question 7

Targeting a new market segment for a firm's existing products would be considered 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 8

Lowering prices, increasing inventory levels, advertising and sales promotion in existing markets, and adding more highly trained sales staff for existing locations would all be tactics of 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 9

As discussed in the Opening Profile to Chapter 11, the strategic mistake made by the creators of PowerBar was __________.

Accepted Answer

A)  not considering the effects of competition 
B)  following a broad-scope market strategy 
C)  failing to look beyond their original product to continue their growth 
D)  not fully protecting their intellectual property 
E)  None of the answers apply. 
A)  not considering the effects of competition 
B)  following a broad-scope market strategy 
C)  failing to look beyond their original product to continue their growth 
D)  not fully protecting their intellectual property 
E)  None of the answers apply.

Question 10

Discuss how an entrepreneur might attempt to overcome the pressures placed on the management of employees by growth.

Accepted Answer

As the business grows, an entrepreneur m

Question 11

As discussed in the Opening Profile to Chapter 11, their vision of finding a solution to a serious runner's energy source wasn't the only factor in forming this new venture. Both Brian and Jennifer were determined to __________________________.

Accepted Answer

A)  create a work environment where employees would feel important 
B)  follow a broad-scope market strategy 
C)  look beyond their original product to continue their growth 
D)  fully protect their intellectual property 
E)  None of the answers apply. 
A)  create a work environment where employees would feel important 
B)  follow a broad-scope market strategy 
C)  look beyond their original product to continue their growth 
D)  fully protect their intellectual property 
E)  None of the answers apply.

Question 12

A computer manufacturing company such as Dell decides to set up a network of retail stores to sell their products, which is an example of __________.

Accepted Answer

A)  backward integration 
B)  horizontal integration 
C)  forward integration 
D)  conglomerate integration 
E)  None of the answers apply. 
A)  backward integration 
B)  horizontal integration 
C)  forward integration 
D)  conglomerate integration 
E)  None of the answers apply.

Question 13

Growth of the venture may cause which of the following human resources problems?

Accepted Answer

A)  decline in employee morale 
B)  increase in employee burnout 
C)  increase in employee turnover 
D)  difficulty in maintaining the desired corporate culture 
E)  All of the answers are correct. 
A)  decline in employee morale 
B)  increase in employee burnout 
C)  increase in employee turnover 
D)  difficulty in maintaining the desired corporate culture 
E)  All of the answers are correct.

Question 14

A periodic review of one's time management process belongs to which of the following principles of time management?

Accepted Answer

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

Question 15

For most small businesses, growth causes more problems than benefits.

Accepted Answer

A) True 
 B)False

Question 16

As discussed in the Opening Profile to Chapter 11, the story of the PowerBar is a good example of an entrepreneur pursuing an opportunity based on market knowledge gained through experience.

Accepted Answer

A) True 
 B)False

Question 17

Introducing a new product into a new market that is unrelated to the existing business is not recommended for an entrepreneur for which of the following reasons?

Accepted Answer

A)  This type of product development strategy rarely works for small businesses. 
B)  Diversification into unrelated markets takes time, attention, and resources from an entrepreneur already short of these things. 
C)  Unrelated markets allow for utilization of existing corporate knowledge but not experience. 
D)  This type of market development strategy is often successful which creates more time and resource pressure on the entrepreneur. 
E)  All of the answers are correct. 
A)  This type of product development strategy rarely works for small businesses. 
B)  Diversification into unrelated markets takes time, attention, and resources from an entrepreneur already short of these things. 
C)  Unrelated markets allow for utilization of existing corporate knowledge but not experience. 
D)  This type of market development strategy is often successful which creates more time and resource pressure on the entrepreneur. 
E)  All of the answers are correct.

Question 18

Porsche developing a sport utility vehicle (SUV) so that their sports car owner group will have something to drive during the winter would be an example 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 19

Describe the factors that must be considered by entrepreneur when choosing to grow their business, and what issues they will need to address once the decision has been made.

Accepted Answer

The factors that an entrepreneur will co

Question 20

The basic principle that it is "more important to do the right things than to do things right"implies that the key to effective time management is in __________.

Accepted Answer

A)  setting priorities 
B)  getting up early 
C)  sacrificing leisure activities 
D)  maintaining high moral standards 
E)  None of the answers apply. 
A)  setting priorities 
B)  getting up early 
C)  sacrificing leisure activities 
D)  maintaining high moral standards 
E)  None of the answers apply.

Finding new groups of customers to sell to is an example of a market development growth strategy.

Exporting is a good example of a penetration growth strategy because it increases the firm's market share in new markets.

The process of firing incompetent employees is made easier for the entrepreneur if __________.

The key element for maintaining the desired corporate culture in a growing venture is __________.

Finding new uses for an existing product such as baking soda, is a good example of a product development growth strategy.

As discussed in the text, many entrepreneurs find that as the venture grows, they need to change__________.

Targeting a new market segment for a firm's existing products would be considered a tactic of which of the following growth strategies?

Lowering prices, increasing inventory levels, advertising and sales promotion in existing markets, and adding more highly trained sales staff for existing locations would all be tactics of a __________ growth strategy.

As discussed in the Opening Profile to Chapter 11, the strategic mistake made by the creators of PowerBar was __________.

Discuss how an entrepreneur might attempt to overcome the pressures placed on the management of employees by growth.

As discussed in the Opening Profile to Chapter 11, their vision of finding a solution to a serious runner's energy source wasn't the only factor in forming this new venture. Both Brian and Jennifer were determined to __________________________.

A computer manufacturing company such as Dell decides to set up a network of retail stores to sell their products, which is an example of __________.

Growth of the venture may cause which of the following human resources problems?

A periodic review of one's time management process belongs to which of the following principles of time management?

For most small businesses, growth causes more problems than benefits.

As discussed in the Opening Profile to Chapter 11, the story of the PowerBar is a good example of an entrepreneur pursuing an opportunity based on market knowledge gained through experience.

Introducing a new product into a new market that is unrelated to the existing business is not recommended for an entrepreneur for which of the following reasons?

Porsche developing a sport utility vehicle (SUV) so that their sports car owner group will have something to drive during the winter would be an example of which of the following growth strategies?

Describe the factors that must be considered by entrepreneur when choosing to grow their business, and what issues they will need to address once the decision has been made.

The basic principle that it is "more important to do the right things than to do things right"implies that the key to effective time management is in __________.

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

Finding new groups of customers to sell to is an example of a market development growth strategy.

Exporting is a good example of a penetration growth strategy because it increases the firm's market share in new markets.

The process of firing incompetent employees is made easier for the entrepreneur if __________.

The key element for maintaining the desired corporate culture in a growing venture is __________.

Finding new uses for an existing product such as baking soda, is a good example of a product development growth strategy.

As discussed in the text, many entrepreneurs find that as the venture grows, they need to change__________.

Targeting a new market segment for a firm's existing products would be considered a tactic of which of the following growth strategies?

Lowering prices, increasing inventory levels, advertising and sales promotion in existing markets, and adding more highly trained sales staff for existing locations would all be tactics of a __________ growth strategy.

As discussed in the Opening Profile to Chapter 11, the strategic mistake made by the creators of PowerBar was __________.

Discuss how an entrepreneur might attempt to overcome the pressures placed on the management of employees by growth.

As discussed in the Opening Profile to Chapter 11, their vision of finding a solution to a serious runner's energy source wasn't the only factor in forming this new venture. Both Brian and Jennifer were determined to __________________________.

A computer manufacturing company such as Dell decides to set up a network of retail stores to sell their products, which is an example of __________.

Growth of the venture may cause which of the following human resources problems?

A periodic review of one's time management process belongs to which of the following principles of time management?

For most small businesses, growth causes more problems than benefits.

As discussed in the Opening Profile to Chapter 11, the story of the PowerBar is a good example of an entrepreneur pursuing an opportunity based on market knowledge gained through experience.

Introducing a new product into a new market that is unrelated to the existing business is not recommended for an entrepreneur for which of the following reasons?

Porsche developing a sport utility vehicle (SUV) so that their sports car owner group will have something to drive during the winter would be an example of which of the following growth strategies?

Describe the factors that must be considered by entrepreneur when choosing to grow their business, and what issues they will need to address once the decision has been made.

The basic principle that it is "more important to do the right things than to do things right"implies that the key to effective time management is in __________.

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