Question 1

In a value-added chain,value is added only at the first stage of the chain.

Accepted Answer

A) True 
 B)False

Question 2

Horizontal integration occurs at the same level of the value-added chain but simply involves a different,but complementary,value-added chain.

Accepted Answer

A) True 
 B)False

Question 3

Most entrepreneurs could benefit from implementing time management techniques.

Accepted Answer

A) True 
 B)False

Question 4

What are the four main growth strategies discussed in the text
 Briefly define each.

Accepted Answer

penetration strategy to grow by encourag

Question 5

Even though some entrepreneurs may way to grow their business,they lack the ability to do so.

Accepted Answer

A) True 
 B)False

Question 6

________ is the process of improving an individual's productivity through more efficient use of time.

Accepted Answer

A)  Time management 
B)  Delegation 
C)  The principle of effectiveness 
D)  The principle of prioritized planning 
A)  Time management 
B)  Delegation 
C)  The principle of effectiveness 
D)  The principle of prioritized planning

Question 7

Using a penetration strategy,the entrepreneur attempts to encourage existing customers to buy more of the firm's current products.

Accepted Answer

A) True 
 B)False

Question 8

In managing fixed assets,the entrepreneur should buy,instead of lease,whenever possible.

Accepted Answer

A) True 
 B)False

Question 9

Inventory control:

Accepted Answer

A)  is not necessary for small firms. 
B)  eliminates the need to carry inventory. 
C)  balances the cost of carrying inventory with the cost of lost sales. 
D)  requires a computerized inventory system. 
A)  is not necessary for small firms. 
B)  eliminates the need to carry inventory. 
C)  balances the cost of carrying inventory with the cost of lost sales. 
D)  requires a computerized inventory system.

Question 10

Financial reporting to shareholders,bankers,and other investors give the marketing cost for each product and highlight the performance of managers in controlling costs.

Accepted Answer

A) True 
 B)False

Question 11

A cash sensitivity analysis is used to provide a pessimistic and an optimistic cash estimate.

Accepted Answer

A) True 
 B)False

Question 12

What benefits can an entrepreneur receive from better time management

Accepted Answer

Increased productivity
Increas

Question 13

________ refers to a diversification strategy that involves taking a step back (up)on the value chain toward the raw materials.

Accepted Answer

A)  Horizontal integration 
B)  Backward integration 
C)  Forward integration 
D)  Conglomerate integration 
A)  Horizontal integration 
B)  Backward integration 
C)  Forward integration 
D)  Conglomerate integration

Question 14

Product development strategies use customers' experiences to develop new products for existing customers.

Accepted Answer

A) True 
 B)False

Question 15

Many entrepreneurs find that as they grow they need to change their management style.

Accepted Answer

A) True 
 B)False

Question 16

Using a large proportion of part-time workers:

Accepted Answer

A)  provides the firm with flexibility. 
B)  makes building organizational culture easier. 
C)  improves worker commitment to the organization. 
D)  increases the overall productivity of the organization. 
A)  provides the firm with flexibility. 
B)  makes building organizational culture easier. 
C)  improves worker commitment to the organization. 
D)  increases the overall productivity of the organization.

Question 17

Entrepreneurs that have a high ability to institute professional management practices but have low growth aspirations have "little potential" for growth.

Accepted Answer

A) True 
 B)False

Question 18

In order to better serve customers,all customer information should be stored in the memory of individual salespeople.

Accepted Answer

A) True 
 B)False

Question 19

The strategy for growth in which the entrepreneur encourages existing customers to buy more of the firm's current product is a:

Accepted Answer

A)  penetration strategy. 
B)  product development strategy. 
C)  market development strategy. 
D)  diversification strategy. 
A)  penetration strategy. 
B)  product development strategy. 
C)  market development strategy. 
D)  diversification strategy.

Question 20

The ________ requires that the entrepreneur recognize that he or she is a time waster,that time is an important resource,and that there is a need to change personal attitudes and habits regarding the allocation of time.

Accepted Answer

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

In a value-added chain,value is added only at the first stage of the chain.

Horizontal integration occurs at the same level of the value-added chain but simply involves a different,but complementary,value-added chain.

Most entrepreneurs could benefit from implementing time management techniques.

What are the four main growth strategies discussed in the text Briefly define each.

Even though some entrepreneurs may way to grow their business,they lack the ability to do so.

________ is the process of improving an individual's productivity through more efficient use of time.

Using a penetration strategy,the entrepreneur attempts to encourage existing customers to buy more of the firm's current products.

In managing fixed assets,the entrepreneur should buy,instead of lease,whenever possible.

Inventory control:

Financial reporting to shareholders,bankers,and other investors give the marketing cost for each product and highlight the performance of managers in controlling costs.

A cash sensitivity analysis is used to provide a pessimistic and an optimistic cash estimate.

What benefits can an entrepreneur receive from better time management

________ refers to a diversification strategy that involves taking a step back (up)on the value chain toward the raw materials.

Product development strategies use customers' experiences to develop new products for existing customers.

Many entrepreneurs find that as they grow they need to change their management style.

Using a large proportion of part-time workers:

Entrepreneurs that have a high ability to institute professional management practices but have low growth aspirations have "little potential" for growth.

In order to better serve customers,all customer information should be stored in the memory of individual salespeople.

The strategy for growth in which the entrepreneur encourages existing customers to buy more of the firm's current product is a:

The ________ requires that the entrepreneur recognize that he or she is a time waster,that time is an important resource,and that there is a need to change personal attitudes and habits regarding the allocation of time.

The Entrepreneurial Mind-Set

Corporate Entrepreneurship

Generating and Exploiting 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

Sources of Capital

Informal Risk Capital, Venture Capital, and Going Public

Accessing Resources for Growth From External Sources

Succession Planning and Strategies for Harvesting and Ending the Venture

Filters

Exam 13: Strategies for Growth and Managing the Implication of Growth

In a value-added chain,value is added only at the first stage of the chain.

Horizontal integration occurs at the same level of the value-added chain but simply involves a different,but complementary,value-added chain.

Most entrepreneurs could benefit from implementing time management techniques.

What are the four main growth strategies discussed in the text Briefly define each.

Even though some entrepreneurs may way to grow their business,they lack the ability to do so.

________ is the process of improving an individual's productivity through more efficient use of time.

Using a penetration strategy,the entrepreneur attempts to encourage existing customers to buy more of the firm's current products.

In managing fixed assets,the entrepreneur should buy,instead of lease,whenever possible.

Inventory control:

Financial reporting to shareholders,bankers,and other investors give the marketing cost for each product and highlight the performance of managers in controlling costs.

A cash sensitivity analysis is used to provide a pessimistic and an optimistic cash estimate.

What benefits can an entrepreneur receive from better time management

________ refers to a diversification strategy that involves taking a step back (up)on the value chain toward the raw materials.

Product development strategies use customers' experiences to develop new products for existing customers.

Many entrepreneurs find that as they grow they need to change their management style.

Using a large proportion of part-time workers:

Entrepreneurs that have a high ability to institute professional management practices but have low growth aspirations have "little potential" for growth.

In order to better serve customers,all customer information should be stored in the memory of individual salespeople.

The strategy for growth in which the entrepreneur encourages existing customers to buy more of the firm's current product is a:

The ________ requires that the entrepreneur recognize that he or she is a time waster,that time is an important resource,and that there is a need to change personal attitudes and habits regarding the allocation of time.

The Entrepreneurial Mind-Set

Corporate Entrepreneurship

Generating and Exploiting 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

Sources of Capital

Informal Risk Capital, Venture Capital, and Going Public

Accessing Resources for Growth From External Sources

Succession Planning and Strategies for Harvesting and Ending the Venture

Filters