Question 1

One important characteristic of successful "copreneurs" is their ability to separate their business life from their personal life,so that one doesn't consume the other.

Accepted Answer

A) True 
 B)False

Question 2

Tom was a financial consultant who liked to work with his hands,especially in making furniture.He quit his rat race financial job to start a small custom furniture business.After struggling for several years,he closed it and went back to financial services.Tom discovered that there was a big difference between making furniture for himself and running a customer furniture manufacturing business.Tom's business failed because of:

Accepted Answer

A)  uncontrolled growth.
B)  poor financial control.
C)  his lack of experience.
D)  an inability to access start-up capital.E) A) and B)
F) A) and D)

Question 3

Companies started by women differ from companies started by men in that:

Accepted Answer

A)  men's start-ups tend to be smaller and less well-financed than women's.
B)  women's companies tend to be labor-intense businesses and therefore employ more people,even though they have smaller revenues.
C)  women's companies start smaller.
D)  men tend to start their businesses with their own capital,women with others' capital.E) B) and C)
F) C) and D)

Question 4

The location of the business is especially important for what type of start-up businesses?

Accepted Answer

A)  Manufacturing
B)  Service
C)  Computer-based service
D)  RetailE) A) and D)
F) All of the above

Question 5

The flurry of corporate "pink slips" has slowed down a new population of entrepreneurs

Accepted Answer

A) True 
 B)False

Question 6

Most of today's immigrant entrepreneurs come into the U.S.with:

Accepted Answer

A)  significant educational and financial resources.
B)  few skills,little education,and no financial resources.
C)  few resources but lots of dedication and desire.
D)  little education but significant financial backing from their families in their home countries.E) None of the above
F) All of the above

Question 7

To avoid business failure,an entrepreneur should:

Accepted Answer

A)  know the business in depth.
B)  develop a solid business plan.
C)  take entrepreneurship courses.
D)  Both A and BE) All of the above
F) A) and B)

Question 8

The trend in corporate downsizing and the resulting trust gap have spawned both the "corporate castoff" and the "corporate dropout."

Accepted Answer

A) True 
 B)False

Question 9

One key to success with a business startup is to begin with enough ________:

Accepted Answer

A)  capital
B)  sales
C)  accounts payable
D)  suppliersE) B) and C)
F) C) and D)

Question 10

The most important change due to Expansion occurs in:

Accepted Answer

A)  organizational structure.
B)  inventory and financial control procedures.
C)  managerial expertise.
D)  personnel assignments.E) B) and D)
F) B) and C)

Question 11

Immigrant entrepreneurs tend to arrive in the United States with less education and experience but more drive and access to capital through their "ethnic" connections.

Accepted Answer

A) True 
 B)False

Question 12

Forces driving the entrepreneurial trend in our economy include which of the following?

Accepted Answer

A)  Technological advancement
B)  Shift to a service economy
C)  World Wide Web
D)  All of the aboveE) A) and D)
F) A) and C)

Question 13

When an entrepreneur develops a relationship with a manager in a large established company in order to draw on the corporate manager's experience,it is called "Copreneurship."

Accepted Answer

A) True 
 B)False

Question 14

What can an entrepreneur do to avoid the failure of his/her company? Discuss at least six actions they can take.

Accepted Answer

There are several general tactics small ...

Question 15

Management Incompetence includes all but:

Accepted Answer

A)  the owner lacks the leadership ability necessary to operate it successfully.
B)  lack of capacity to make the business work.
C)  insufficient capital.
D)  inexperience.E) C) and D)
F) A) and D)

Question 16

Which of the following trends is feeding the growth of entrepreneurial activity?

Accepted Answer

A)  A greater focus on professional advancement combined with the "flattening" of large corporations' management hierarchies
B)  The rapid growth of the need for low-technology products
C)  A favorable attitude toward entrepreneurs in American society
D)  Diminished wage increases in corporations and the desire for a better standard of lingE) A) and D)
F) A) and C)

Question 17

The key ingredient-the crucial element-to avoiding the failure of a new business is:

Accepted Answer

A)  the business plan.
B)  knowing the business.
C)  technical expertise regarding the product.
D)  differentiating the business and product from the competition.E) A) and D)
F) B) and C)

Question 18

There has been a significant change in the U.S.economic structure,one that favors small business.

Accepted Answer

A) True 
 B)False

Question 19

It is common to experience a lower quality of life during a business start-up than after the business is established.

Accepted Answer

A) True 
 B)False

Question 20

Starting a part-time business is a popular gateway to entrepreneurship.

Accepted Answer

A) True 
 B)False

Exam 1: Entrepreneurs: the Driving Force Behind Small Business

The trend in corporate downsizing and the resulting trust gap have spawned both the "corporate castoff" and the "corporate dropout."

Correct Answer
verified

The most important change due to Expansion occurs in:

Correct Answer
verified

When an entrepreneur develops a relationship with a manager in a large established company in order to draw on the corporate manager's experience,it is called "Copreneurship."

Correct Answer
verified

The key ingredient-the crucial element-to avoiding the failure of a new business is:

Correct Answer
verified

There has been a significant change in the U.S.economic structure,one that favors small business.

Correct Answer
verified

To avoid business failure,an entrepreneur should:

Correct Answer
verified

Starting a part-time business is a popular gateway to entrepreneurship.

Correct Answer
verified

Management Incompetence includes all but:

Correct Answer
verified

One key to success with a business startup is to begin with enough ________:

Correct Answer
verified

Correct Answer
verified

It is common to experience a lower quality of life during a business start-up than after the business is established.

Correct Answer
verified

One important characteristic of successful "copreneurs" is their ability to separate their business life from their personal life,so that one doesn't consume the other.

Correct Answer
verified

Which of the following trends is feeding the growth of entrepreneurial activity?

Correct Answer
verified

Companies started by women differ from companies started by men in that:

Correct Answer
verified

The flurry of corporate "pink slips" has slowed down a new population of entrepreneurs

Correct Answer
verified

Immigrant entrepreneurs tend to arrive in the United States with less education and experience but more drive and access to capital through their "ethnic" connections.

Correct Answer
verified

Most of today's immigrant entrepreneurs come into the U.S.with:

Correct Answer
verified

What can an entrepreneur do to avoid the failure of his/her company? Discuss at least six actions they can take.

Correct Answer
verified
There are several general tactics small ...
View Answer

The location of the business is especially important for what type of start-up businesses?

Correct Answer
verified

Forces driving the entrepreneurial trend in our economy include which of the following?

Correct Answer
verified

Exam 1: Entrepreneurs: the Driving Force Behind Small Business

The trend in corporate downsizing and the resulting trust gap have spawned both the "corporate castoff" and the "corporate dropout."

Correct AnswerverifiedShow Answer

The most important change due to Expansion occurs in:

Correct AnswerverifiedShow Answer

When an entrepreneur develops a relationship with a manager in a large established company in order to draw on the corporate manager's experience,it is called "Copreneurship."

Correct AnswerverifiedShow Answer

The key ingredient-the crucial element-to avoiding the failure of a new business is:

Correct AnswerverifiedShow Answer

There has been a significant change in the U.S.economic structure,one that favors small business.

Correct AnswerverifiedShow Answer

To avoid business failure,an entrepreneur should:

Correct AnswerverifiedShow Answer

Starting a part-time business is a popular gateway to entrepreneurship.

Correct AnswerverifiedShow Answer

Management Incompetence includes all but:

Correct AnswerverifiedShow Answer

One key to success with a business startup is to begin with enough ________:

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

It is common to experience a lower quality of life during a business start-up than after the business is established.

Correct AnswerverifiedShow Answer

One important characteristic of successful "copreneurs" is their ability to separate their business life from their personal life,so that one doesn't consume the other.

Correct AnswerverifiedShow Answer

Which of the following trends is feeding the growth of entrepreneurial activity?

Correct AnswerverifiedShow Answer

Companies started by women differ from companies started by men in that:

Correct AnswerverifiedShow Answer

The flurry of corporate "pink slips" has slowed down a new population of entrepreneurs

Correct AnswerverifiedShow Answer

Immigrant entrepreneurs tend to arrive in the United States with less education and experience but more drive and access to capital through their "ethnic" connections.

Correct AnswerverifiedShow Answer

Most of today's immigrant entrepreneurs come into the U.S.with:

Correct AnswerverifiedShow Answer

What can an entrepreneur do to avoid the failure of his/her company? Discuss at least six actions they can take.

Correct AnswerverifiedThere are several general tactics small ...View AnswerShow Answer

The location of the business is especially important for what type of start-up businesses?

Correct AnswerverifiedShow Answer

Forces driving the entrepreneurial trend in our economy include which of the following?

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
There are several general tactics small ...
View Answer

Correct Answer
verified

Correct Answer
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