ENTR 187
owner-managed firm
A business run by the individual who owns it is referred to as a(n) _____.
self-efficacy.
A person's belief in his or her ability to achieve a goal is called:
boundary
According to the BRIE model, _____ sets up a business as a firm.
16
According to the U.S. Small Business Administration, small businesses generate _____ times the number of patents per employee than do big businesses.
TRUE
During the start-up phase of a small business the emphasis is on conserving what little cash the new business has.
FALSE
In order to make profits from a small business, the company needs to make an actual product
FALSE
In the U.S., government programs are the number one source for financing small businesses
TRUE
One of the seven key strategies of the entrepreneurial way involves effectuation or an approach used to create alternatives in uncertain environments.
imitative in nature.
Small businesses are usually:
Small Business Administration
The _____ is a U.S. government agency that helps people start a business and also provides them support and advocacy.
FALSE
The majority of new firms go through similar startup processes with those most likely to be successful following a four-step process: Finance, Construct, Promote, Demonstrate
TRUE
The most frequently occurring element of the BRIE model is intention
a person who owns or starts an organization, such as a business.
The text defines an entrepreneur as:
TRUE
Using low-cost or free techniques to minimize cost of doing business is referred to as bootstrapping.
A small business grows when necessary, whereas a high-growth venture grows when possible.
Which of the following is a difference between a small business and a high-growth venture?
It considers sales as more important than marketing.
Which of the following is true of a small business?
Seek.
Which of the following terms is not one of the four steps in the successful entrepreneurial process?
Traditional small businesses
_____ are the smallest full-time business.
