206. Apple’s
smart team
is an example of a firm that succeeded by:
207. Anna recently left a large insurance firm and opened a home-based business preparing
medical transcriptions for doctors. Based on recent statistics, she can expect:
208. Jake is an innovative engineering graduate who works for a large company that makes
adhesive products for commercial and consumer use. One of his primary responsibilities is to
initiate and develop new products to complement the firm’s current product line. Jake’s company
is _________.
209. Southwest College received a government grant to establish a business incubator. This
facility will offer:
210. Keaton is an intrapreneur for a multinational electronics company. As an intrapreneur
Keaton:
211. Yesterday, on Facebook, one of Sarah’s friends suggested that she spread the word
about Mia Bella Boutique, an online company that designs hats and shoes. If Sarah’s efforts
generate 25 more people to spread the word, Sarah will receive 30% off her order. Mia Bella is
utilizing _____________, an effective strategy for increasing awareness and market share for web–
based businesses.
212. Juan recently completed 20 years of service in the Army. During this time, he managed to
save a little money and is entitled to a government pension. His goal is to go back to his home
state of Colorado and start a business making small, solar powered panels for residential use.
Although he knows he needs a storefront and manufacturing site, he is not 100% convinced about
where to locate. He knows for certain that one of his top priorities is to limit his tax liability
associated with this new business. Your suggestion for Juan is:
213. Pete inherited a thriving dry cleaning business from his father and mother. He continued
the tradition of offering quality service to the customers he served. As the surrounding towns
expanded, several people suggested that Pete expand the business to offer service in new
locations. He chose to maintain only one operation, so as not to lose control and to keep his work
life and home life balanced. Pete is a good example of a(n) ____________.
214. Located at Monsanto’s world headquarters, the Nidus Center is a unique ___________
facility. The tenants are biotechnology companies who are at various stages of product
development. The agricultural giant, Monsanto, the Danforth Foundation, Washington University-
St. Louis, Saint Louis University, and several venture capital firms contribute seed money for
these small start-up ventures that receive approval to further develop their ideas at the Nidus
Center.
215. Small businesses:
216. The Small Business Administration defines a small business as a firm that:
217. Small businesses create about __________ percent of the new jobs in the United States.
218. A business’s size is measured:
219. According to economist Bruce Kirchhoff, small business failures are:
220. When comparing small businesses to their larger competitors, it is clear that:
221. Which of the following is
not
a reason stated for small business failure?
222. Which of the following will
not
help your small business succeed?
223. Small businesses are important to the U.S. economy because:
224. Using the analogy of boulders vs. sand for filling a hole, the textbook points out that:
225. Which of the following employment statistics about small businesses is true?
226. According to SBA guidelines, a manufacturing firm with 1,000 employees:
227. Which of the following statements accurately depicts an advantage that small business
has over big business?
228. Entrepreneurs looking for a business that gives them the best opportunity to get rich
should consider starting a business in:
229. A review of small business successes and failures indicates that the:
230. After graduation, Manny focused his attention on finding full-time employment. He has
decided to narrow his job search to jobs with a major corporation. His job search strategy:
231. After several years of working as a regional manager for a nationally known nonprofit,
Janelle landed a management position with an innovative small business. If she accepts the job
offer, she is likely to find that:
232. As a result of corporate downsizing, Alex lost his job as an IT manager for a large
telecommunications company. A bonafide computer geek in his own right, Alex knew that several
of his past company contacts often outsourced their computer problems. He decided it was a
good time to test the waters and see if he could secure enough computer clients to be in
business for himself. His success demonstrated that:
233. Jennifer, a talented photography student, started a corporate photography business. She
planned to solicit jobs from large corporations which needed pictures for their annual reports and
websites. Although filling a unique niche, Jennifer needed the security that the business would
thrive and that she would earn enough to support herself and her child. She also hoped that she
would spend less time each day calling on potential clients and more time doing the actual
shoots. As her small business consultant, which of the following suggestions would you have for
Jennifer?
234. Dr. Smiley White just graduated from dental school. She is hoping to acquire the
necessary funding to start her own dental practice. One advantage of this type of business is:
235. Jayne started a small bakery in a resort town. She was certain she had the ideal location,
with plenty of hotels and inns within walking distance of her establishment. She planned to use
her grandmother’s recipes, using only the finest ingredients for her upscale resort customers.
During the first week of business, she was disappointed with lackluster sales. When she drove
past the regular breakfast-style restaurants and even the Starbucks, she noticed they were
rather bustling. Jayne most likely:
236. John, James, and Frank wanted to open J2F Sports Bar that offers unique brands of beer,
weekend entertainment, and a limited menu. In one of the preliminary meetings, James presented
a list of reasons that small businesses fail. Although many of the ideas on this list were
applicable to many types of business, one challenge pertained specifically to the restaurant and
bar business. The challenge he referred to was: