Entrepreneur Test One Chapter Three

The measure of how many visitors to a web site actually make a purchase is known as:

Compression rate

As the owner of a business quickly admitting that the firm is in trouble indicates a lack of accountability.

False

Being a small business makes managing organizational culture harder than in larger businesses.

False

Social capital is the major component of what accountants call ____, and it can be found on business's balance sheet:

Goodwill

According to Graham Wallas' description of the creative process, ideas begin to flow in which of the strategies?

Illumination

Taking an idea and offering a way to do something slightly better than it is done presently refers to:

Incremental strategy

Which of the following is an advantage of the SCAMPER tool?

It helps entrepreneurs to come up with alternative solutions.

Taste of India

Modify

The ___ is the most important element of social capital to customer supporters of a business, bankers, lawyers, and suppliers.

Owner

____ refers to a preliminary run of a business.

Pilot test

___ is best defined as the characteristics of a business, like trust, consistency, and networks that help make business operations smooth and efficient.

Social Capital

Which of the following statements is true of social capital?

Social capital is capital in the same sense that cash or land can be.

Gathering resources for a business is easier during an economic recessions than during economic booms.

True

Universalism is an ethical model that suggests people get their ideas of right and wrong from their family, religion, education, community, and culture.

True

The goal of a feasibility study is:

to assess if a business idea can be profitably brought to market.

____ target specific industries and professions

trade