Question 1

Which of these offers the advantage that the entrepreneur has the ability to develop and design the business in the entrepreneur's own way?

Accepted Answer

A)  Participate in a business incubator 
B)  Start a new business 
C)  Buy a franchise 
D)  Buy an existing business 
E)  All of these 
A)  Participate in a business incubator 
B)  Start a new business 
C)  Buy a franchise 
D)  Buy an existing business 
E)  All of these B

Question 2

A human quality linked to entrepreneurship in which people are motivated to excel and pick situations in which success is likely is called the ____________________.

Accepted Answer

need to achieve

Question 3

During the ____ stage, the company will need to make greater use of budgets, standard cost systems, and statistical reports.

Accepted Answer

A)  existence 
B)  survival 
C)  takeoff 
D)  success 
E)  maturity 
A)  existence 
B)  survival 
C)  takeoff 
D)  success 
E)  maturity C

Question 4

Briefly define and compare internal and external locus of control.

Accepted Answer

Internal locus of control is the belief

Question 5

Entrepreneurs in the sustainer category alike the chance to balance work and personal life and often don't want the business to grow too large.

Accepted Answer

A) True 
 B)False

Question 6

A(n) ____ has a legal life of its own.

Accepted Answer

A)  partnership 
B)  proprietorship 
C)  corporation 
D)  association 
E)  trade alliance 
A)  partnership 
B)  proprietorship 
C)  corporation 
D)  association 
E)  trade alliance

Question 7

The drawback(s) of proprietorship include

Accepted Answer

A)  the unlimited liability of the partners. 
B)  conflicts with partners. 
C)  existence regardless of whether the owners live or dies. 
D)  difficulty in obtaining financing. 
E)  complexity and cost. 
A)  the unlimited liability of the partners. 
B)  conflicts with partners. 
C)  existence regardless of whether the owners live or dies. 
D)  difficulty in obtaining financing. 
E)  complexity and cost.

Question 8

The key problem, at the ____ stage of growth, is how to grow rapidly and finance that growth.

Accepted Answer

A)  existence 
B)  survival 
C)  takeoff 
D)  resource maturity 
E)  success 
A)  existence 
B)  survival 
C)  takeoff 
D)  resource maturity 
E)  success

Question 9

The process of initiating a business venture, organizing it, and assuming its risks is known as ____________________.

Accepted Answer

The answer of The process of initiating a business venture,...

Question 10

In the start-up stage of an entrepreneurial business, formal planning tends to be nonexistent except for the business plan.

Accepted Answer

A) True 
 B)False

Question 11

The key problem, at the ____________________ stage of growth, is how to grow rapidly and finance that growth.

Accepted Answer

The answer of The key problem, at the ____________________ stage...

Question 12

The majority of the incubators are operated by ____________________.

Accepted Answer

non-profit

Question 13

Small businesses represent 68 percent of all firms and employ about three quarters of all private sector employees.

Accepted Answer

A) True 
 B)False

Question 14

A business incubator is an independent company producing a product or service similar to that produced by the entrepreneur's former employer.

Accepted Answer

A) True 
 B)False

Question 15

Samuel Rohrer is providing consumers with a new, unique business. The stage of the growth where his business has demonstrated that it is a workable business entity is considered the

Accepted Answer

A)  start-up stage. 
B)  survival stage. 
C)  success stage. 
D)  takeoff stage. 
E)  resource maturity stage. 
A)  start-up stage. 
B)  survival stage. 
C)  success stage. 
D)  takeoff stage. 
E)  resource maturity stage.

Question 16

In the United States, minorities own ____ firms.

Accepted Answer

A)  4.1 million 
B)  1.3 billion 
C)  872,000 
D)  8.9 million 
E)  2.9 million 
A)  4.1 million 
B)  1.3 billion 
C)  872,000 
D)  8.9 million 
E)  2.9 million

Question 17

Tracy's Trikes believes that each of the employee should enjoy the idea of working on something that is new, creative, or personally meaningful. Tracy's Trikes would describe which of the categories of small business owners?

Accepted Answer

A)  Optimizers 
B)  Idealists 
C)  Hard workers 
D)  Sustainers 
E)  Jugglers 
A)  Optimizers 
B)  Idealists 
C)  Hard workers 
D)  Sustainers 
E)  Jugglers

Question 18

Entrepreneurs in the optimizer category are rewarded by the personal satisfaction of being business owners.

Accepted Answer

A) True 
 B)False

Question 19

Scenario - Holly and Trent
While many others dreamed about owning their own business, Holly Gabrel decided to do something about it. Holly knew that being self-employed required long hours and hard work, but with the help of her husband, Trent, Holly was positive that the hours and the work would be rewarded. First, she and Trent developed a new concept in sunglasses that could be used by athletes better than the sunglasses now on the market. Holly and Trent obtained a patent on their invention, and began production and marketing.
-With the entrepreneurial personality, Holly can be expected to have all of the following traits EXCEPT

Accepted Answer

A)  internal locus of control. 
B)  tolerance for ambiguity. 
C)  high need to achieve. 
D)  patience. 
E)  all of these. 
A)  internal locus of control. 
B)  tolerance for ambiguity. 
C)  high need to achieve. 
D)  patience. 
E)  all of these.

Question 20

A tolerance for ambiguity is a psychological characteristic that enables a person to accept the threat of competition and potential risk.

Accepted Answer

A) True 
 B)False

Which of these offers the advantage that the entrepreneur has the ability to develop and design the business in the entrepreneur's own way?

A human quality linked to entrepreneurship in which people are motivated to excel and pick situations in which success is likely is called the ____________________.

During the ____ stage, the company will need to make greater use of budgets, standard cost systems, and statistical reports.

Briefly define and compare internal and external locus of control.

Entrepreneurs in the sustainer category alike the chance to balance work and personal life and often don't want the business to grow too large.

A(n) ____ has a legal life of its own.

The drawback(s) of proprietorship include

The key problem, at the ____ stage of growth, is how to grow rapidly and finance that growth.

The process of initiating a business venture, organizing it, and assuming its risks is known as ____________________.

In the start-up stage of an entrepreneurial business, formal planning tends to be nonexistent except for the business plan.

The key problem, at the ____________________ stage of growth, is how to grow rapidly and finance that growth.

The majority of the incubators are operated by ____________________.

Small businesses represent 68 percent of all firms and employ about three quarters of all private sector employees.

A business incubator is an independent company producing a product or service similar to that produced by the entrepreneur's former employer.

Samuel Rohrer is providing consumers with a new, unique business. The stage of the growth where his business has demonstrated that it is a workable business entity is considered the

In the United States, minorities own ____ firms.

Tracy's Trikes believes that each of the employee should enjoy the idea of working on something that is new, creative, or personally meaningful. Tracy's Trikes would describe which of the categories of small business owners?

Entrepreneurs in the optimizer category are rewarded by the personal satisfaction of being business owners.

A tolerance for ambiguity is a psychological characteristic that enables a person to accept the threat of competition and potential risk.

Innovative Management for Turbulent Times

The Evolution of Management Thinking

The Environment and Corporate Culture

Managing in a Global Environment

Managing Ethics and Social Responsibility

Managerial Planning and Goal Setting

Strategy Formulation and Implementation

Managerial Decision Making

Designing Adaptive Organizations

Managing Change and Innovation

Managing Human Resources

Managing Diversity

Dynamics of Behavior in Organizations

Leadership

Motivating Employees

Managing Communication

Leading Teams

Managing Quality and Performance

Managing the Value Chain, Information Technology, and E-Business

Filters

Exam 20: Managing Small Business Start-Ups

Which of these offers the advantage that the entrepreneur has the ability to develop and design the business in the entrepreneur's own way?

A human quality linked to entrepreneurship in which people are motivated to excel and pick situations in which success is likely is called the ____________________.

During the ____ stage, the company will need to make greater use of budgets, standard cost systems, and statistical reports.

Briefly define and compare internal and external locus of control.

Entrepreneurs in the sustainer category alike the chance to balance work and personal life and often don't want the business to grow too large.

A(n) ____ has a legal life of its own.

The drawback(s) of proprietorship include

The key problem, at the ____ stage of growth, is how to grow rapidly and finance that growth.

The process of initiating a business venture, organizing it, and assuming its risks is known as ____________________.

In the start-up stage of an entrepreneurial business, formal planning tends to be nonexistent except for the business plan.

The key problem, at the ____________________ stage of growth, is how to grow rapidly and finance that growth.

The majority of the incubators are operated by ____________________.

Small businesses represent 68 percent of all firms and employ about three quarters of all private sector employees.

A business incubator is an independent company producing a product or service similar to that produced by the entrepreneur's former employer.

Samuel Rohrer is providing consumers with a new, unique business. The stage of the growth where his business has demonstrated that it is a workable business entity is considered the

In the United States, minorities own ____ firms.

Tracy's Trikes believes that each of the employee should enjoy the idea of working on something that is new, creative, or personally meaningful. Tracy's Trikes would describe which of the categories of small business owners?

Entrepreneurs in the optimizer category are rewarded by the personal satisfaction of being business owners.

A tolerance for ambiguity is a psychological characteristic that enables a person to accept the threat of competition and potential risk.

Innovative Management for Turbulent Times

The Evolution of Management Thinking

The Environment and Corporate Culture

Managing in a Global Environment

Managing Ethics and Social Responsibility

Managerial Planning and Goal Setting

Strategy Formulation and Implementation

Managerial Decision Making

Designing Adaptive Organizations

Managing Change and Innovation

Managing Human Resources

Managing Diversity

Dynamics of Behavior in Organizations

Leadership

Motivating Employees

Managing Communication

Leading Teams

Managing Quality and Performance

Managing the Value Chain, Information Technology, and E-Business

Filters