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Exam 1: Entrepreneurs: the Driving Force Behind Small Business

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Question 41

Multiple Choice

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The key ingredient-the crucial element-to avoiding the failure of a new business is:

A) the business plan.
B) knowing the business.
C) technical expertise regarding the product.
D) differentiating the business and product from the competition.

E) B) and C)
F) A) and C)

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Question 42

Multiple Choice

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Companies started by women differ from companies started by men in that:

A) men's start-ups tend to be smaller and less well-financed than women's.
B) women's companies tend to be labor-intense businesses and therefore employ more people,even though they have smaller revenues.
C) women's companies start smaller.
D) men tend to start their businesses with their own capital,women with others' capital.

E) A) and B)
F) A) and C)

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Question 43

Multiple Choice

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Management Incompetence includes all but:

The trend in corporate downsizing and the resulting trust gap have spawned both the "corporate castoff" and the "corporate dropout."

Most of today's immigrant entrepreneurs come into the U.S.with:

One key to success with a business startup is to begin with enough ________:

To avoid business failure,an entrepreneur should:

Which of the following trends is feeding the growth of entrepreneurial activity?

What can an entrepreneur do to avoid the failure of his/her company? Discuss at least six actions they can take.

Tom was a financial consultant who liked to work with his hands,especially in making furniture.He quit his rat race financial job to start a small custom furniture business.After struggling for several years,he closed it and went back to financial services.Tom discovered that there was a big difference between making furniture for himself and running a customer furniture manufacturing business.Tom's business failed because of:

Forces driving the entrepreneurial trend in our economy include which of the following?

One important characteristic of successful "copreneurs" is their ability to separate their business life from their personal life,so that one doesn't consume the other.

It is common to experience a lower quality of life during a business start-up than after the business is established.

The most important change due to Expansion occurs in:

The flurry of corporate "pink slips" has slowed down a new population of entrepreneurs

Starting a part-time business is a popular gateway to entrepreneurship.

The location of the business is especially important for what type of start-up businesses?

When an entrepreneur develops a relationship with a manager in a large established company in order to draw on the corporate manager's experience,it is called "Copreneurship."

Immigrant entrepreneurs tend to arrive in the United States with less education and experience but more drive and access to capital through their "ethnic" connections.

There has been a significant change in the U.S.economic structure,one that favors small business.