Question 1

The _________ captures the steps it takes to develop raw materials into a product and get it into the hands of customers.

Accepted Answer

A) value chain 
B) inventory 
C) electronic data interchange 
D) market accounting system 
A) value chain 
B) inventory 
C) electronic data interchange 
D) market accounting system A

Question 2

_____ strategies involve selling a new product to a new market.

Accepted Answer

A) Penetration 
B) Market development 
C) Product development 
D) Diversification 
A) Penetration 
B) Market development 
C) Product development 
D) Diversification D

Question 3

The most often used method of transporting goods is:

Accepted Answer

A) air transport. 
B) truck and rail transport. 
C) barge transport. 
D) tanker transport. 
A) air transport. 
B) truck and rail transport. 
C) barge transport. 
D) tanker transport. B

Question 4

Effective time management can increase an entrepreneur's job satisfaction.

Accepted Answer

A) True 
 B)False

Question 5

Market development strategies involve selling the firm's existing products to a new group of customers,such as a new geographic market.

Accepted Answer

A) True 
 B)False

Question 6

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 7

Which principle requires the entrepreneur to focus on the most important issues,even when under pressure?

Accepted Answer

A) Principle of desire 
B) Principle of reanalysis 
C) Principle of effectiveness 
D) Principle of prioritized planning 
A) Principle of desire 
B) Principle of reanalysis 
C) Principle of effectiveness 
D) Principle of prioritized planning

Question 8

The penetration growth strategy:

Accepted Answer

A) focuses on developing new products for the existing market. 
B) relies on taking market share from competitors. 
C) expands the firm's product offering with complementary products. 
D) aims to take new products into new markets. 
A) focuses on developing new products for the existing market. 
B) relies on taking market share from competitors. 
C) expands the firm's product offering with complementary products. 
D) aims to take new products into new markets.

Question 9

Even if there is a belief that the pursuit of growth will improve firm performance and enhance personal wealth,some entrepreneurs will still avoid growing their business.

Accepted Answer

A) True 
 B)False

Question 10

Identify and describe the three major types of diversification growth strategies.

Accepted Answer

Backward integration refers to taking a

Question 11

Entrepreneurs who possess both the necessary abilities to make the transition to a more professional management approach and the aspiration to grow their businesses are the most likely to achieve firm growth.

Accepted Answer

A) True 
 B)False

Question 12

The principle of prioritized planning requires the entrepreneur to categorize his or her tasks by their degree of importance and then to allocate time to tasks based on this categorization.

Accepted Answer

A) True 
 B)False

Question 13

The Maxwell's company,PowerBar,was purchased by what company?

Accepted Answer

A) Proctor and Gamble 
B) Nestle 
C) Heinz 
D) Pilsbury 
A) Proctor and Gamble 
B) Nestle 
C) Heinz 
D) Pilsbury

Question 14

Reviewing meetings to make sure they are being run effectively illustrates which of the following principles?

Accepted Answer

A) Principle of desire 
B) Principle of reanalysis 
C) Principle of effectiveness 
D) Principle of prioritized planning 
A) Principle of desire 
B) Principle of reanalysis 
C) Principle of effectiveness 
D) Principle of prioritized planning

Question 15

The source of knowledge about the unmet demand for an energy bar (PowerBar)came from extensive market research of athletes.

Accepted Answer

A) True 
 B)False

Question 16

Conducting a(n)____ on cash flow involves assigning a + or - probability to the estimated value.

Accepted Answer

A) break even analysis 
B) audit 
C) distribution analysis 
D) sensitivity analysis 
A) break even analysis 
B) audit 
C) distribution analysis 
D) sensitivity analysis

Question 17

The principle of reanalysis requires the entrepreneur to categorize his or her tasks by their degree of importance and then to allocate time to tasks based on this categorization.

Accepted Answer

A) True 
 B)False

Question 18

___________ 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 19

Employee turnover for part-time workers is lower than that for full-time workers.

Accepted Answer

A) True 
 B)False

Question 20

Using a time sheet to record usage of time is part of the principle of:

Accepted Answer

A) desire. 
B) effectiveness. 
C) prioritized planning. 
D) analysis. 
A) desire. 
B) effectiveness. 
C) prioritized planning. 
D) analysis.

The _________ captures the steps it takes to develop raw materials into a product and get it into the hands of customers.

_____ strategies involve selling a new product to a new market.

The most often used method of transporting goods is:

Effective time management can increase an entrepreneur's job satisfaction.

Market development strategies involve selling the firm's existing products to a new group of customers,such as a new geographic market.

Inventory control:

Which principle requires the entrepreneur to focus on the most important issues,even when under pressure?

The penetration growth strategy:

Even if there is a belief that the pursuit of growth will improve firm performance and enhance personal wealth,some entrepreneurs will still avoid growing their business.

Identify and describe the three major types of diversification growth strategies.

Entrepreneurs who possess both the necessary abilities to make the transition to a more professional management approach and the aspiration to grow their businesses are the most likely to achieve firm growth.

The principle of prioritized planning requires the entrepreneur to categorize his or her tasks by their degree of importance and then to allocate time to tasks based on this categorization.

The Maxwell's company,PowerBar,was purchased by what company?

Reviewing meetings to make sure they are being run effectively illustrates which of the following principles?

The source of knowledge about the unmet demand for an energy bar (PowerBar)came from extensive market research of athletes.

Conducting a(n)____ on cash flow involves assigning a + or - probability to the estimated value.

The principle of reanalysis requires the entrepreneur to categorize his or her tasks by their degree of importance and then to allocate time to tasks based on this categorization.

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

Employee turnover for part-time workers is lower than that for full-time workers.

Using a time sheet to record usage of time is part of the principle of:

Entrepreneurship and the Entrepreneurial Mind-Set

Entrepreneurial Intentions and Corporate Entrepreneurship

Entrepreneurial Strategy: Generating and Exploiting New Entries

Creativity and the Business Idea

Identifying and Analyzing Domestic and International Opportunities

Intellectual Property 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

The _________ captures the steps it takes to develop raw materials into a product and get it into the hands of customers.

_____ strategies involve selling a new product to a new market.

The most often used method of transporting goods is:

Effective time management can increase an entrepreneur's job satisfaction.

Market development strategies involve selling the firm's existing products to a new group of customers,such as a new geographic market.

Inventory control:

Which principle requires the entrepreneur to focus on the most important issues,even when under pressure?

The penetration growth strategy:

Even if there is a belief that the pursuit of growth will improve firm performance and enhance personal wealth,some entrepreneurs will still avoid growing their business.

Identify and describe the three major types of diversification growth strategies.

Entrepreneurs who possess both the necessary abilities to make the transition to a more professional management approach and the aspiration to grow their businesses are the most likely to achieve firm growth.

The principle of prioritized planning requires the entrepreneur to categorize his or her tasks by their degree of importance and then to allocate time to tasks based on this categorization.

The Maxwell's company,PowerBar,was purchased by what company?

Reviewing meetings to make sure they are being run effectively illustrates which of the following principles?

The source of knowledge about the unmet demand for an energy bar (PowerBar)came from extensive market research of athletes.

Conducting a(n)____ on cash flow involves assigning a + or - probability to the estimated value.

The principle of reanalysis requires the entrepreneur to categorize his or her tasks by their degree of importance and then to allocate time to tasks based on this categorization.

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

Employee turnover for part-time workers is lower than that for full-time workers.

Using a time sheet to record usage of time is part of the principle of:

Entrepreneurship and the Entrepreneurial Mind-Set

Entrepreneurial Intentions and Corporate Entrepreneurship

Entrepreneurial Strategy: Generating and Exploiting New Entries

Creativity and the Business Idea

Identifying and Analyzing Domestic and International Opportunities

Intellectual Property 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