Question 1

If employees are involved in the decision-making process,they are more motivated to implement the decided course of action.

Accepted Answer

A) True 
 B)False

Question 2

The __________ strategy focuses on selling the firm's existing products to new groups of customers.

Accepted Answer

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

Question 3

One of the most successful diversification strategies is to diversify into unrelated products or unrelated markets to spread the risk.

Accepted Answer

A) True 
 B)False

Question 4

The principle of teamwork states that an entrepreneur spends too much time with employees and should try to become less accessible to them in order to increase their efficiency.

Accepted Answer

A) True 
 B)False

Question 5

Growing ventures tie up more cash in their inventory than in any other part of the business.

Accepted Answer

A) True 
 B)False

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

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 8

Entrepreneurs who have the necessary abilities for the transition to more professional management practices and the aspiration to grow their business:

Accepted Answer

A) have little potential for firm growth. 
B) will achieve growth only if the entrepreneur replaces himself or herself with a professional manager. 
C) are the most likely to achieve growth. 
D) usually form life-style firms. 
A) have little potential for firm growth. 
B) will achieve growth only if the entrepreneur replaces himself or herself with a professional manager. 
C) are the most likely to achieve growth. 
D) usually form life-style firms.

Question 9

Even when cash flow problems are discovered,the pro forma budgeted amounts should never be changed.

Accepted Answer

A) True 
 B)False

Question 10

A firm that manufactures washing machines starts to manufacture detergent illustrates _______ integration.

Accepted Answer

A) Backward 
B) Forward 
C) Horizontal 
D) Side 
A) Backward 
B) Forward 
C) Horizontal 
D) Side

Question 11

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

Accepted Answer

A) True 
 B)False

Question 12

An increase in supplier prices may require:

Accepted Answer

A) raising the price of products/services. 
B) purchase of lesser inventory. 
C) an increase in the purchasing budget. 
D) reviewing all other expenses and perhaps institute tighter controls. 
A) raising the price of products/services. 
B) purchase of lesser inventory. 
C) an increase in the purchasing budget. 
D) reviewing all other expenses and perhaps institute tighter controls.

Question 13

The grocery and pharmaceutical industries have developed a computerized system to link chain members together and manage demand,distribution,and marketing.

Accepted Answer

A) True 
 B)False

Question 14

The entrepreneur is required to withhold federal and state taxes for employees and then deposit payments monthly or quarterly.

Accepted Answer

A) True 
 B)False

Question 15

Developing standardized forms and procedures for recurring events would be an example of the principle of reanalysis.

Accepted Answer

A) True 
 B)False

Question 16

Growth of the venture:

Accepted Answer

A) lessens pressures on existing financial resources. 
B) causes pressures on human resources. 
C) lessens legitimacy of the firm. 
D) lessens time spent on management decision making. 
A) lessens pressures on existing financial resources. 
B) causes pressures on human resources. 
C) lessens legitimacy of the firm. 
D) lessens time spent on management decision making.

Question 17

________ 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 18

Transport mode selection can be important in inventory management.

Accepted Answer

A) True 
 B)False

Question 19

Most new ventures need a human resource department from the first day of operations.

Accepted Answer

A) True 
 B)False

Question 20

______ are used to characterize potential customers based upon their income,education,age,sex,and so forth.

Accepted Answer

A) Demographics 
B) Development strategies 
C) Democracies 
D) Diversifications 
A) Demographics 
B) Development strategies 
C) Democracies 
D) Diversifications

If employees are involved in the decision-making process,they are more motivated to implement the decided course of action.

The __________ strategy focuses on selling the firm's existing products to new groups of customers.

One of the most successful diversification strategies is to diversify into unrelated products or unrelated markets to spread the risk.

The principle of teamwork states that an entrepreneur spends too much time with employees and should try to become less accessible to them in order to increase their efficiency.

Growing ventures tie up more cash in their inventory than in any other part of the business.

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

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

Entrepreneurs who have the necessary abilities for the transition to more professional management practices and the aspiration to grow their business:

Even when cash flow problems are discovered,the pro forma budgeted amounts should never be changed.

A firm that manufactures washing machines starts to manufacture detergent illustrates _______ integration.

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

An increase in supplier prices may require:

The grocery and pharmaceutical industries have developed a computerized system to link chain members together and manage demand,distribution,and marketing.

The entrepreneur is required to withhold federal and state taxes for employees and then deposit payments monthly or quarterly.

Developing standardized forms and procedures for recurring events would be an example of the principle of reanalysis.

Growth of the venture:

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

Transport mode selection can be important in inventory management.

Most new ventures need a human resource department from the first day of operations.

______ are used to characterize potential customers based upon their income,education,age,sex,and so forth.

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

If employees are involved in the decision-making process,they are more motivated to implement the decided course of action.

The __________ strategy focuses on selling the firm's existing products to new groups of customers.

One of the most successful diversification strategies is to diversify into unrelated products or unrelated markets to spread the risk.

The principle of teamwork states that an entrepreneur spends too much time with employees and should try to become less accessible to them in order to increase their efficiency.

Growing ventures tie up more cash in their inventory than in any other part of the business.

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

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

Entrepreneurs who have the necessary abilities for the transition to more professional management practices and the aspiration to grow their business:

Even when cash flow problems are discovered,the pro forma budgeted amounts should never be changed.

A firm that manufactures washing machines starts to manufacture detergent illustrates _______ integration.

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

An increase in supplier prices may require:

The grocery and pharmaceutical industries have developed a computerized system to link chain members together and manage demand,distribution,and marketing.

The entrepreneur is required to withhold federal and state taxes for employees and then deposit payments monthly or quarterly.

Developing standardized forms and procedures for recurring events would be an example of the principle of reanalysis.

Growth of the venture:

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

Transport mode selection can be important in inventory management.

Most new ventures need a human resource department from the first day of operations.

______ are used to characterize potential customers based upon their income,education,age,sex,and so forth.

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