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____ product development provides a young firm with a network of expertise that it
couldn't afford to hire in-house.
a. Outsourcing
Patenting
c. Protecting
d. Networking
e. Testing
____ comprise over fifty percent of all small businesses in the United States.
a. Startups
b. Home-based businesses
c. Nonprofit businesses
d. Serial entrepreneurs
e. Corporate entrepreneurs
The entrepreneurial mindset cannot be found within large corporations or socially
responsible nonprofit organizations.
a. True
b. False
____ is/are a strategic issue that is designed to bring about business profitability and
positive cash flow.
a. Manufacturing
b. Vendor selection
c. Quality
d. Production systems
e. Business processes
Uncertainty is characterized by:
a. Fear of failure
b. Varying degrees of risk
c. Incomplete research
d. The failings of a new venture
e. All of these
Which of the following is not one of the categories into which the resources of a
company are often divided?
a. Human
b. Social
c. Financial
d. Physical
e. Value chain
Management processes, business processes, and support processes are the three major
processes that must be aligned in a company if quality is going to be the outcome.
a. True
b. False
Which of the following statements is not true of an S-corporation?
a. It may have no more than 100 shareholders.
b. Shareholders must be U.S. citizens or residents.
c. Profits and losses must be allocated in proportion to shareholder interests.
d. Partnerships may be shareholders.
e. Shareholders may not deduct losses in an amount greater than their original
investment.
A patent gives the patent holder the right to defend the patent against others who would
attempt to manufacture, use, or sell the invention during the period of the patent.
a. True
b. False
Ethics derives from the cultural, social, political, and ethnic norms with which we were
raised as children.
a. True
b. False
A ____ depends on a feasible business model that has been market-tested and is
reliable.
a. feasibility study
b. marketing plan
c. business plan
d. micro strategy
e. POC
