Question 1

Hong Kong is the most entrepreneurial country, with 47.4 percent of individuals age 18 to 64 starting a new business.

Accepted Answer

A) True 
 B)False

Question 2

The primary focus of most entrepreneurs is retail, manufacturing and/or service type of businesses.

Accepted Answer

A) True 
 B)False

Question 3

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

Accepted Answer

A) True 
 B)False

Question 4

Hard workers, who thrive on the challenge of building a larger more profitable business, consist of 20% of small business owners.

Accepted Answer

A) True 
 B)False

Question 5

People who have high achievement needs like to set their own goals, which are moderately difficult.

Accepted Answer

A) True 
 B)False

Question 6

At Stage 3 of growth for an entrepreneurial firm, managers often are hired to take over duties performed by the owner.

Accepted Answer

A) True 
 B)False

Question 7

The Swingset Company is at the stage where if financing is available and it is properly managed, rapid growth can occur. What stage is the Swingset Company experiencing?

Accepted Answer

A)  Resource maturity 
B)  Takeoff 
C)  Survival 
D)  Success 
E)  Start-up 
A)  Resource maturity 
B)  Takeoff 
C)  Survival 
D)  Success 
E)  Start-up

Question 8

By ____________________, an entrepreneur has the advantage to develop and design the business in his/her own way.

Accepted Answer

The answer of By ____________________, an entrepreneur has the advantage...

Question 9

A(n) ____________________ is a group of companies or individuals that invests money in new or expanding businesses for ownership and potential profits.

Accepted Answer

venture ca

Question 10

Borrowing from family and friends is a common source of debt financing for a start-up business.

Accepted Answer

A) True 
 B)False

Question 11

The ____________________ provides shared office space, management support services, and management advice to entrepreneurs.

Accepted Answer

The answer of The ____________________ provides shared office space, management...

Question 12

An entrepreneur

Accepted Answer

A)  assumes the risks of the business. 
B)  reaps the rewards of the business. 
C)  assumes the financial and legal risks of ownership. 
D)  recognizes a viable idea for a business product or service and carries it out. 
E)  all of these. 
A)  assumes the risks of the business. 
B)  reaps the rewards of the business. 
C)  assumes the financial and legal risks of ownership. 
D)  recognizes a viable idea for a business product or service and carries it out. 
E)  all of these.

Question 13

Small businesses, according to the Small Business Administration, employ more than 90 percent of the private workforce in the United States and are responsible for 85 percent of all business innovations.

Accepted Answer

A) True 
 B)False

Question 14

During the latter stages of entrepreneurial growth, the manager

Accepted Answer

A)  must learn to delegate and decentralize authority. 
B)  must institute greater use of rules and procedures. 
C)  must hire sufficient management to handle the growth. 
D)  all of these. 
E)  none of these. 
A)  must learn to delegate and decentralize authority. 
B)  must institute greater use of rules and procedures. 
C)  must hire sufficient management to handle the growth. 
D)  all of these. 
E)  none of these.

Question 15

Borrowing money that has to be repaid at a later date in order to start a business is equity financing.

Accepted Answer

A) True 
 B)False

Question 16

The psychological characteristic that allows a person to be untroubled by disorder and uncertainty is called tolerance for ambiguity.

Accepted Answer

A) True 
 B)False

Question 17

Managers must tailor their planning, organizing, leading, and controlling to fit

Accepted Answer

A)  the current stage of growth. 
B)  financial needs. 
C)  inventory levels. 
D)  the number of orders to be filled. 
E)  their comfort level. 
A)  the current stage of growth. 
B)  financial needs. 
C)  inventory levels. 
D)  the number of orders to be filled. 
E)  their comfort level.

Question 18

Which of these refers to an unincorporated business owned by an individual for profit?

Accepted Answer

A)  Partnership 
B)  Sole proprietorship 
C)  Corporation 
D)  Association 
E)  Trade alliance 
A)  Partnership 
B)  Sole proprietorship 
C)  Corporation 
D)  Association 
E)  Trade alliance

Question 19

A(n) ____________________ is a document specifying the business details prepared by an entrepreneur in preparation for opening a new business.

Accepted Answer

The answer of A(n) ____________________ is a document specifying the...

Question 20

The drawbacks of proprietorship include unlimited liability and difficulty in obtaining financing.

Accepted Answer

A) True 
 B)False

Hong Kong is the most entrepreneurial country, with 47.4 percent of individuals age 18 to 64 starting a new business.

The primary focus of most entrepreneurs is retail, manufacturing and/or service type of businesses.

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

Hard workers, who thrive on the challenge of building a larger more profitable business, consist of 20% of small business owners.

People who have high achievement needs like to set their own goals, which are moderately difficult.

At Stage 3 of growth for an entrepreneurial firm, managers often are hired to take over duties performed by the owner.

The Swingset Company is at the stage where if financing is available and it is properly managed, rapid growth can occur. What stage is the Swingset Company experiencing?

By ____________________, an entrepreneur has the advantage to develop and design the business in his/her own way.

A(n) ____________________ is a group of companies or individuals that invests money in new or expanding businesses for ownership and potential profits.

Borrowing from family and friends is a common source of debt financing for a start-up business.

The ____________________ provides shared office space, management support services, and management advice to entrepreneurs.

An entrepreneur

Small businesses, according to the Small Business Administration, employ more than 90 percent of the private workforce in the United States and are responsible for 85 percent of all business innovations.

During the latter stages of entrepreneurial growth, the manager

Borrowing money that has to be repaid at a later date in order to start a business is equity financing.

The psychological characteristic that allows a person to be untroubled by disorder and uncertainty is called tolerance for ambiguity.

Managers must tailor their planning, organizing, leading, and controlling to fit

Which of these refers to an unincorporated business owned by an individual for profit?

A(n) ____________________ is a document specifying the business details prepared by an entrepreneur in preparation for opening a new business.

The drawbacks of proprietorship include unlimited liability and difficulty in obtaining financing.

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

Hong Kong is the most entrepreneurial country, with 47.4 percent of individuals age 18 to 64 starting a new business.

The primary focus of most entrepreneurs is retail, manufacturing and/or service type of businesses.

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

Hard workers, who thrive on the challenge of building a larger more profitable business, consist of 20% of small business owners.

People who have high achievement needs like to set their own goals, which are moderately difficult.

At Stage 3 of growth for an entrepreneurial firm, managers often are hired to take over duties performed by the owner.

The Swingset Company is at the stage where if financing is available and it is properly managed, rapid growth can occur. What stage is the Swingset Company experiencing?

By ____________________, an entrepreneur has the advantage to develop and design the business in his/her own way.

A(n) ____________________ is a group of companies or individuals that invests money in new or expanding businesses for ownership and potential profits.

Borrowing from family and friends is a common source of debt financing for a start-up business.

The ____________________ provides shared office space, management support services, and management advice to entrepreneurs.

An entrepreneur

Small businesses, according to the Small Business Administration, employ more than 90 percent of the private workforce in the United States and are responsible for 85 percent of all business innovations.

During the latter stages of entrepreneurial growth, the manager

Borrowing money that has to be repaid at a later date in order to start a business is equity financing.

The psychological characteristic that allows a person to be untroubled by disorder and uncertainty is called tolerance for ambiguity.

Managers must tailor their planning, organizing, leading, and controlling to fit

Which of these refers to an unincorporated business owned by an individual for profit?

A(n) ____________________ is a document specifying the business details prepared by an entrepreneur in preparation for opening a new business.

The drawbacks of proprietorship include unlimited liability and difficulty in obtaining financing.

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