90. All of these are entrepreneurial characteristics except:
a. self-confidence.
b. tolerance for ambiguity.
c. external locus of control.
d. high energy level.
e. awareness of passing time.
91. 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:
a. start-up stage.
b. survival stage.
c. success stage.
d. takeoff stage.
e. resource maturity stage.
92. At which stage of growth is the company if it is solidly based and profitable?
a. Resource maturity
b. Takeoff
c. Survival
d. Success
e. Existence
93. Janelle is very innovative and attentive to detail. As she starts her own company, she leads her employees and
ensures that every detail is attended to. As her company grows, she finds it more difficult to deal with and motivate
her employees. She is more interested in the product. What stage of growth is Janelle’s company going through?
a. Resource maturity
b. Takeoff
c. Survival
d. Success
e. Existence
94. Formal planning, such as a strategic plan, is usually instituted during which stage?
a. Start-up
b. Survival
c. Takeoff
d. Success
e. Resource maturity
95. During the stage, the company will need to make greater use of budgets, standard cost systems, and
statistical reports.
a. existence
b. survival
c. takeoff
d. success
e. maturity
96. The key problem, at the stage of growth, is how to grow rapidly and finance that growth.
a. existence
b. survival
c. takeoff
d. resource maturity
e. success
97. ABC company has made substantial financial gains, but may start to lose the advantages of small size. Which stage
of growth is this company experiencing?
a. Resource maturity
b. Takeoff
c. Survival
d. Success
e. Existence
98. 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?
a. Resource maturity
b. Takeoff
c. Survival
d. Success
e. Start-up
99. During the latter stages of entrepreneurial growth, the manager:
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.
100. Dawn, the finance manager of a sporting goods manufacturing company, uses accounting records to track monthly
operational budgets to ensure that the company’s financial targets are being met. This is an important task in which
stage of the managerial process?
a. Delegating
b. Planning
c. Controlling
d. Leading
e. Organizing
101. Jamila is a successful artist and entrepreneur who makes all of her work out of recycled goods because she
believes in sustainability. She can be described as a social entrepreneur that is committed to:
a. international human rights.
b. environmental protection.
c. children’s rights.
d. industrial protectionism.
e. consumerism.
102. After fully developing their new business idea, Holly and Trent recognize the need to develop a business plan.
Typical business plans will include all of the following, except:
a. mission or vision of the company.
b. information about the suppliers.
c. policy for extending credit to customers.
d. analysis of critical risks that threaten success.
e. all of these should be included.
103. If the business is legally Holly‘s, then the business form would be:
a. proprietorship.
b. partnership.
c. corporation.
d. chapter S42.5.
e. none of these.
104. Entrepreneurs in the category like the idea of working on something that is new, creative, or personally
meaningful.
105. The process of initiating a business venture, organizing it, and assuming its risks is known as .
106. A(n) recognizes a viable idea for a business product or service and carries it out.
107. In the next decade, and businesses could end up being the emerging growth companies.
108. A human quality linked to entrepreneurship in which people are motivated to excel and pick situations in which
success is likely is called the .
109. is the psychological characteristic that allows a person to be untroubled by disorder and uncertainty.
110. entrepreneurs are committed to both good business and changing the world for the better.
111. A(n) is a document specifying the business details prepared by an entrepreneur in preparation for opening a
new business.
112. An unincorporated business owned by an individual for profit is known as a(n) .
113. A(n) is an unincorporated business owned by two or more people.
114. A(n) is an artificial entity created by the state and existing apart from its owners.
115. Borrowing money that has to be repaid at a later date in order to start a business is .
116. financing consists of funds that are invested in exchange for ownership in the company.
117. A(n) is a group of companies or individuals that invests money in new or expanding businesses for
ownership and potential profits.
118. firms are groups of companies or individuals that invest money in exchange for a stake in the company.
119. By , an entrepreneur has the advantage to develop and design the business in his/her own way.
120. is an arrangement by which the owner of a product or service allows others to purchase the right to
distribute the product or service with help from the owner.
121. The provides shared office space, management support services, and management advice to entrepreneurs.
122. The majority of the incubators are operated by .
123. In the stage, the main problems for entrepreneurial firms are producing the product or service and obtaining
customers.
124. The key problem, at the stage of growth, is how to grow rapidly and finance that growth.
125. List five of the six characteristics of entrepreneurs.
126. Name three of the four ways entrepreneurs can become business owners.
127. List the five stages of growth for an entrepreneurial company.
128. Name and describe the five different categories of small business owners.
129. What is tolerance for ambiguity? Why is it an important trait?
130. Name five of the ten characteristics of a successful business plan.
131. Define a corporation and briefly discuss the primary advantages and disadvantages of forming a corporation.
132. What is the fundamental difference between the suppliers of debt and equity financing?
133. What is a business incubator? How can it help a business?
134. List and briefly describe the stages of growth for an entrepreneurial company.