BUS-W 212 Final Exam

True or false: entrepreneurs fare poorly in today's hypercompetitive market

FALSE

true or false: entrepreneurs do not use failure as a tool for learning

FALSE

true or false: in traditional marketing, the role of a marketer is that of internal and external change agent

FALSE

From where do S corporations get their name

Subchapter S of the Internal Revenue Code

True or false: the right brain helps people understand analogies and imagine things

TRUE

Water well strategies refer to

Unique resources

an agreement not to compete is also know as

a waiver of competition clause

the traditional accounting equation that verified accuracy of balance sheet is...

assets = liability + owners' equity

Characteristics often attributed to the entrepreneur include

commitment, determination, and perseverance

In defining research objectives, the entrepreneur should include

consumer tastes

One trait not common in entrepreneurs is

entrepreneurs need structure

In the study of contemporary entrepreneurship, one concept reoccurs:

entrepreneurship is interdisciplinary

secondary data consists of

existing information

the process of trademark registration is cheap or expensive

expensive

One factor not found in high achievers is

failure to listen to feedback

The macro view can be broken down into which three areas

financial/capital, strategic, and opportunity

the individual buying the franchise is the

franchisee

triple bottom line measures of economic performance do not include

global competition

a business plan

may help an entrepreneur avoid a project that is "doomed" from the start

a trademark is a distinctive ________ that is identified with a company's product

name

NOT an appropriate guideline for a successful business plan development

orient the plan to the present

Triple Bottom Line (TBL) does NOT focus on

precedence

One of the disadvantages of going public

shareholder pressure

what can help speed up the idea process

taking breaks while working

When going public, specific detailed information that must be presented includes

the capital structure of the company

In terms of opportunity trends, what is cocooning

the desire to shelter oneself from harsh realities

the determination of fair use of copyrighted material is based on

the effect of use on potential market

a business plan should illustrate

the projected needs of the new business

Which of the following is not a question in the corporate entrepreneurial planning process

has the firm met government regulations for innovation?

Venture classifications include which of the following types of ventures

high-growth ventures

sometimes consumers associate a higher price with

higher product quality

what is NOT associated with entrepreneurial tactics in market research

in-person interviews with a large sample

anyone who violates an authors exclusive rights under a copyright is liable for

infringement

internal venture capital that is set aside for special entrepreneurship projects is called

intracapital

despite the drawbacks of the payback method, the entrepreneur should continue to use it because

it is very simple to use in comparison with other methods

entrepreneurs now view social/environmental issues as

part of the future of business

Every person has the ______ and ______ to pursue a career as an entrepreneur

potential; free choice

the first step in constructing an operating budget is

preparation of the sales forecase

three specific phases that a new venture goes thru are

prestart-up, start-up, poststart-up

what is NOT a type of debt financing

private placement

what is a factor contributing to new-venture failure

product/market problems

rapid technological advances in many industries cause a concern for ________ in new venture development

rapid product obsolescence

net present value NPV is a capital budgeting technique that helps to minimize some of the shortcomings of the payback method by

recognizing future cash flows beyond the payback period

an advantage to buying an on-going business is

reduced concern over future operations, it may be purchased at a bargain price, time and effort are reduced

the comprehensive business plan should be the result of

reflections on the direction of the venture

when one discusses upside gain and downside loss, one is talking about

risk versus reward

in recent studies of new venture problems, dominant problems at start-up were related to

sales/marketing

contribution margin is the difference between

selling price and variable cost per unit

the first step in planning a strategy of entrepreneurship for enterprise is

sharing the vision of innovation

long-term debt is used for

start-up capital and purchase of property/equipment

NOT a social enterprise obligation to the environment

support for minority-own businesses

The word entrepreneur is derived from the French entreprendre, which is translated as:

to undertake

specific factors that organizations can concentrate on in structuring an entrepreneurial climate

top management support, time, resources, rewards, and organizational boundaries

which of the following would be most commonly used for short-term financing

trade credit

What is a characteristic of the "right climate" in the workplace

trustful management that does not exert strict control over employees

security hunting means

using probability and stereotypes to minimize risk

the cash flow budget describes

cash inflows/cash outflows

a variable cost

changes in the same direction and in the direct proportion to changes in operation activity

marketing segmentation focuses on which variable

characteristics that differentiate consumers

The major thrust of corporate entrepreneurship is to

encourage innovation

the entrepreneur must be able to...

handle questions from the evaluators