Week 3 Quiz 1

Question 1      

            The growth of entrepreneurship is being fed by:                                                      

Question 2      

            "Copreneurs" are:                                                                                          

Question 3      

            Joanne is thinking about running her own business. What risks does she face?                                                                                               

Question 4      

            A well-written business plan defines the company's ________.                                                                                           

Question 5      

            Potential drawbacks of small business ownership include:                                                                          

Question 6      

            This term denotes the awareness of a company's management of the social, environmental, political, human, and financial consequences that its actions produce.                                                                                   

Question 7      

            ________ is any unwelcome sexual advance, request for sexual favors, and other verbal or physical sexual conduct made explicitly or implicitly as a condition of employment.                                                                                      

Question 8      

            Managing diversity in the workforce means managers need to:                                                                               

Question 9      

            The ultimate decision on whether to abide by ethical principles in any given situation rests with:                                                               

Question 10    

            Which one of the following is a company's stakeholder?                                                     

Question 11

            ________ are entrepreneurs who operate within the framework of an existing business.                                                                                            

Question 12    

            The goal of the ________ stage in the creative process is to subject the innovative idea to the test of cold, hard reality.                                                                                 

Question 13    

            In the creative process, ________ occurs while the individual is away from the problem, often engaging in some totally unrelated activity.                                                                         

Question 14    

            One of the best ways to cultivate a culture of creativity is to hire a ________.                                                                                   

Question 15    

            While working for iRobot, Jim Lynch came up with a new product while cleaning the gutters on his house. Lynch is an example of a(n) ________.                                                                                      

Question 16    

            Once the vision and mission are established, the entrepreneur needs to:                                                                                         

Question 17    

            ________ are negative internal factors that inhibit the accomplishment of a firm's objectives.                                                                               

Question 18    

            Rather than attempting to serve the total market, the small firm pursuing a ________ strategy specializes in serving a specific target segment.                                                

Question 19    

            A small business's "aggregation of factors that sets it apart from its competitors" is its:                                                                             

Question 20    

            Tyson Foods' practice of adding value to its chicken products by deboning, skinning, bite-sizing, or pre-cooking them is an example of a:                                                          

Week 5 Quiz 2

Question 1      

            A limited liability company differs from an S-corporation in:                                                                                             

Question 2

            All partnerships must have:                                                                           

Question 3      

            Probably the most important feature of a partnership agreement is:                                                                        

Question 4      

            The form of ownership with the greatest ability to accumulate capital is the:                                                                                               

Question 5      

            Common ownership interest in a business, sharing profits (or losses) of a business, and the right to participate in managing the operations of the business are characteristics of a(n):                                                                       

Question 6      

            The document that governs the relationship between a franchisor and the franchise is the:                                                                                 

Question 7      

            The payment the franchisee makes to the franchiser based on gross sales is:                                                                                   

Question 8      

            The franchiser has the right to cancel a contract if a franchisee:                                                                              

Question 9      

            Which of the following should make a potential franchisee suspicious about a franchiser's honesty?                                                                                     

Question 10    

            When buying a franchise, the potential franchisee should first:                                                                               

Question 11

            Perhaps the ideal source of financing the purchase of an existing business is:                                                                                               

Question 12    

            The capitalized earnings approach determines the value of a business by capitalizing its expected profits using:                                                                      

Question 13    

            When buying an existing business, one should remember that:                                                                               

Question 14    

            If the firm owns any trademarks, patents, or copyrights, or has built up a positive reputation with customers and suppliers, the business has what is/are called:                                                                                   

Question 15    

            When it comes to buying an existing business, it is not uncommon to find it:                                                           

Question 16    

            The executive summary should contain which of the following information?                                                                                   

Question 17    

            Investors look for which of the following when reviewing the experience of the management team of a new venture?                                                                              

Question 18    

            When presenting the business plan it is important to:                                                                                  

Question 19    

            Your cash budget and an explanation of how much money you need to make your company and product a long-term success are the subject matter of the:                                                                                

Question 20    

            A ________ is what a customer gains from the product or service feature.                                                                         

Week 7 Quiz 3

Question 1

            Studies show that customers want ________ from businesses almost more than anything else.                                                     

Question 2      

            ________ is the vehicle for gathering the information that serves as the foundation for the marketing plan.                                                                            

Question 3      

            Entrepreneurs who recognize demographic, social, and cultural trends as they emerge have the opportunity to ________ their companies from the competition in meaningful ways.                                                                               

Question 4      

            One "natural" advantage small businesses have over large businesses, which can be a significant competitive advantage, is:                                                                                  

Question 5      

            The total quality management (TQM) concept:                                                                                

Question 6      

            For advertising to work it should:                                                                             

Question 7      

            Under ________, a manufacturer splits the cost of advertising with a small retailer if the retailer features its product.                                                                             

Question 8      

            Tactics that can help an entrepreneur stimulate positive publicity for the firm are:                                                                             

Question 9      

            Which advertising medium offers the greatest ability to selectively target a specific audience?                                                                             

Question 10    

            The most commonly used method of establishing an advertising budget for a small business is:                                                                               

Question 11    

            Many small business owners use a ________ strategy to move stale, damaged, or slow moving goods or to encourage shoppers to purchase merchandise before an upcoming season.                                                                  

Question 12

            The Omega Company introduces products with a higher-than-normal price in an effort to quickly recover the initial developmental and promotional costs of the product. The Omega Company is pursuing a ________ pricing strategy.                                                                            

Question 13    

            The most commonly used pricing technique for manufacturers is:                                                  

Question 14

________ is a technique which greatly simplifies the pricing function by setting the same price for items with similar characteristics.                                                                              

Question 15    

            ________ pricing strategy introduces a new product at a low price to gain quick acceptance and extensive distribution in a mass market.                                                                                

Question 16    

            What is CVV or CVV2?                                                                    

Question 17    

            Which of the following statements is true for improving a company's search placement results?                                                                 

Question 18    

            What are the guidelines for building a successful Web strategy for a small e-company?                                                                  

Question 19

            For many entrepreneurs, the barrier for launching e-commerce is:                                                              

Question 20    

            To increase customer confidence and credibility, join programs such as:                                                                            

Week 9 Quiz 4

Question 1      

            A technique that allows the small business owner to perform financial analysis by understanding the relationship between two accounting elements is called:                                                                               

Question 2

            The ________ shows the change in the firm's working capital since the beginning of the year.                                                                        

Question 3      

            John is reviewing the company's costs and expenses against revenue for the last year. John is reviewing the firm's:                                                                                  

Question 4

            ________ ratios indicate how efficiently the small firm is being managed.                                                                        

Question 5

            ________ ratios measure the financing supplied by business owners and that supplied by the firm's creditors.                                                                                

Question 6      

            ________ is the money that moves through the business in a continuous cycle.                                                                       

Question 7

            Exchanging goods and services for other goods and services, or ________, is an effective way for a small business to conserve cash.                                                                   

Question 8      

            Which of the following items appear on a cash budget?                                                                              

Question 9      

            Efficient cash managers:                                                       

Question 10

            Once the owner determines an adequate minimum cash balance, what is the next step in creating a cash budget?                                                                          

Question 11    

            Probably the biggest disadvantage of "going public" to the entrepreneur is the:                                                                                   

Question 12    

            ________ financing includes the personal investment of the owners and is often called "risk capital."                                                                             

Question 13    

            One important intangible yet highly important advantage an investment from a large corporate partner gives a start-up is:                                                    

Question 14

            When receiving investment money from friends and relatives entrepreneurs should:                                                                                   

Question 15

            The largest single source of external equity capital for small businesses is:                                                

Question 16    

            In contrast to traditional lenders, finance companies offer small business borrowers:                                                                             

Question 17

            A(n) ________ is a private nonprofit financial institution that will make small loans to its members for the purpose of starting a business.                                                                         

Question 18

            Which form of financing works especially well for manufacturers, wholesalers, distributors, and other companies with significant stocks of inventory, accounts receivable, equipment, real estate, or other assets?                                               

Question 19    

            Term loans often have a ________ feature, which means that after three to five years, the full amount of principal is due before the amortized payments fully repay the loan.                                                         

Question 20    

            Small Business Investment Companies (SBICs):                                                       

Week 11 Quiz

Question 1

            When examining a state's available labor force, the potential business owner needs to know:                                                             

Question 2      

            The typical grocery store uses a(n) ________ layout.                                                          

Question 3      

            Incubator facilities are established in order to:                                                           

Question 4      

            A(n) ________ layout has the advantage of creating a relaxed, friendly shopping atmosphere encouraging shoppers to linger and increasing the number of impulse purchases.                                                      

Question 5      

            The secret to selecting the ideal location for a business is:                                                    

Question 6

            As a solution to a company's quality problems, managers will find that TQM:                                                             

Question 7      

            ________ is the right to ownership of property and, for a small business owner, determines who has responsibility for ownership.                                                      

Question 8      

            Managers have discovered that a quality approach to doing business:                                                          

Question 9      

            The advantages resulting from concentrating purchases with a single supplier include:                                                          

Question 10    

            The vendor certification process assumes:                                                     

Question 11

            For most retailers and wholesalers, the investment in ________ is the largest capital outlay next to payroll.                        

Question 12    

            Employee theft can be caused or encouraged by a number of factors including:                                                           

Question 13    

            ________ inventory systems are designed to maintain a running count of the items in inventory.                                                                             

Question 14    

            Combining ________ with a POS system gives a small business owner a state-of-the-art checkout system and further extends the abilities of the POS system in the information it provides the owner.                                                      

Question 15    

            Employers can reduce employee theft through:                                                          

Question 16    

            When it comes to enforcing employment laws and the job interviewing process, the EEOC:                                                      

Question 17    

            ________ is the process of influencing and inspiring others to work to achieve a common goal and then giving them the power and the freedom to achieve it.                                            

Question 18    

            The process of influencing and inspiring others to work to achieve a common goal and then giving them the power and freedom to achieve it is called:                                                     

Question 19    

            When motivating employees, small business owners need to know that:                                                      

Question 20

            A motivational tool that also helps to guide performance and lets the owner know that his/her company is accomplishing its operational goals is:                                                           

Question 21     ________ is an essential quality for a successful family business but it can also become a barrier to change. When it provides a foundation, it works well, when it restricts the future, it becomes a barrier.                                          

Question 22    

            One of the fastest growing forms of insurance that protects companies against claims due to suits on grounds of the Americans with Disabilities Act and the Medical Leave Act, etc., is:                                           

Question 23

            A dentist or an attorney would buy malpractice insurance to transfer the risk of lawsuits. This is a type of ________ insurance.                                             

Question 24    

            A company using a risk anticipation strategy would do which of the following?                                           

Question 25

            Alicia has decided to retire and sell her business. She wants to walk away from the business and enjoy her retirement without having to think about the business. She has no children or employees who want to buy it. Her best choice of an exit strategy is:                                                       

Question 26

            In a Chapter 7 bankruptcy:                                                      

Question 27     ________ law governs the rights and the obligations between people and the parties they made promises to or agreements with.                                                    

Question 28

            The Robinson-Patman Act focuses on:                                                           

Question 29    

            Jack started his business in the year 2000. Due to lack of planning and bad cash flow, Jack files for bankruptcy and the business ceases to exist. This is a form of:                                                 

Question 30    

            A ________ is a grant giving the inventor of a product the exclusive right to make, use, or sell it for a specific time.                                 

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Status NEW Posted 05 Oct 2020 06:10 AM My Price 20.00

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