The owner is the only person responsible for the activities of the business in a ____.
a. limited partnership
b. nonprofit business
c. dormant partnership
d. sole proprietorship
e. limited liability company
Brand equity, advertising expense, and the rate of industry growth are part of which of
Porter’s forces?
a. Threat of substitute products
Customer bargaining power
c. Supplier bargaining power
d. Threat of new market entrants
e. Intensity of competitive rivalry
The U.S. Supreme Court has defined the ____ as an artificial being, invisible,
intangible, and existing only in contemplation of the law.
a. corporation
b. sole proprietorship
c. partnership
d. joint venture
e. closely held corporation
For most entrepreneurs, making a big financial investment in advertising and promotion
makes sense.
a. True
b. False
A month-by-month timeline shows a year in the life of a business with key milestones
and anticipated ____.
a. pricing
b. growth
c. financial metrics
d. losses
e. triggers
____ starts with a high price to establish uniqueness; then drops the price as
competitors enter the market.
a. Price skimming
b. Premium pricing
c. Product bundle pricing
d. Captive product pricing
e. Demand-based pricing
The Small Business Administration reports that about half of all new businesses will
survive this many years or more:
a. 1
b. b. 2
c. 5
d. 10
e. 15
____ generally employs a pull strategy, focusing on non-price benefits and targets
end-users.
a. Personal selling
b. Relationshipmarketing
c. Advertising
d. Promotion
e. Viral marketing
Uncertainty can be eliminated from the future by use of a solid business plan.
a. True
b. False
The principal advantage of a public offering is that it provides the offering company
with a tremendous source of interest-bearing capital for growth and expansion, paying
off debt, or product development.
a. True
b. False
Research has shown that the ethical behavior of employees is very much influenced by
____.
a. the Golden Rule
b. the justice approach
c. a code of ethics
d. social responsibility
e. societal norms
Entrepreneurs should wait until the venture is profitable before making an investment in
social responsibility.
a. True
b. False
Identifying all the tasks in the production process makes it easier to determine what
equipment and ____ will be needed for completing the tasks.
a. financing
b. employees
c. supplies
d. machinery
e. None of these choices
Outsource when all efforts to boost ____ at home have been exhausted.
a. efficiency and innovation
b. sales and marketing
c. quality and efficiency
d. input and output
e. All of these choices
How a product or service is priced is a function of a company’s goals.
a. True
b. False
Paul Romer asserted that technological change happens when am entrepreneur
identifies:
a. New customer segments
b. b. New customer needs
c. Existing customer needs that have not been satisfied
d. New ways of manufacturing and distributing products and services
e. None of these choices
Because they tend to be fairly expensive, consultants are best used for ____.
a. technology startups
b. human resources
c. critical one-time advice or problem solving
d. employee leasing
e. repetitive tasks
Discover theory sees opportunity as arising from shifts in external factors.
a. True
b. False
Professionals such as lawyers, doctors, and accountants frequently employ the legal
structure of a ____.
a. sole proprietorship
b. S-corporation
c. partnership
d. C-corporation
e. None of these choices
As relevant in corporate entrepreneurships as in independent ones are:
a. Recognizing opportunities
b. Conducting feasibility analyses
c. Developing execution plans
d. All of these choices
e. None of these choices
Why have myths developed about entrepreneurs?
There are three specific considerations for choosing a retail site. What are they?
Briefly discuss what startup resources include.
Briefly discuss the benefits of outsourcing product development for today’s
entrepreneur.
Why must risk be considered when considering an entrepreneurial adventure?
Briefly discuss how attorneys can supply a wealth of support for the new venture.