Chapter 6 business quiz

Lakukan tugas rumah & ujian kamu dengan baik sekarang menggunakan Quizwiz!

Small businesses create a bout ____ percent of the new jobs in the US

65

Which of the following statement accurately depicts an advantage that small business has over big business

A small business can maneuver and change quicker than most large businesses can. It can react to market conditions and customer concerns much faster

Entrepreneurship

Accepting the risk of starting and running a business.

A successful web based strategy that helps a business spread the word about its website and products is called ________

Affiliate marketing

Small businesses must seek advice from outside experts. In order to put together official documents such as leases, contracts, and partnership agreements, it is important to seek the advice of_____

An attorney

State and city government have promoted facilities where new businesses can open up shop and share common services such as secretarial accounting and legal services. Due to their remarkable success rate ________ continue to grow in popularity

Incubators

A business size is measured

In relation to other firms in its industry

A creative person working within a corporation to launch new products and generate new profits is known as

Intrapreneur

One of the challenges of running a home based business is

Keeping work and family separate

a____refers to people with unsatisfied wants and needs who are willing and able to buy a product or serviceq

Market

According to SBA guidelines a manufacturing firm with 1000 employees

May be classified as a small business depending upon the size of other firms in the industry

Business owners who prefer to maintain their business at a manageable size are called

Micropreneurs

Southwest college received a government grant to establish a business incubator. This facility will offer____

New business low cost office space with basic business services

Affiliate marketing is a web based business strategy that_____

Rewards individuals who are willing to link a company's website to their blog or social network page

Which of the following government agencies is responsible for encouraging the development of small business

Small Business Administration

Bankers and potential investors are likely to read____ first

The executive summary

The small business administration sponsors volunteers from industry, trade associations, and eduction who offer advice to small business owners. These volunteers are called

The service corps of retired executives

Entrepreneurs make use of ______ to develop and launch new products and generate new profits

Their employers existing human financial and physical resources

Which of the following statements is a characteristic of entrepreneurs

They look at problems and see opportunities

A firm or individual capital to small businesses in exchange for an ownership stake in the company is called a

Venture capitalist

Which of the following explains why individuals accept the risks of business ownership

the sense of self-satisfaction and independence

One way to get into business is to buy an existing company. The value of the business used to determine a fair purchase price is based on:

the value of what the business owns, what it earns, and what makes it unique.

Successful small business owners are

valuable sources for information since you can learn from their experiences.

Successful entrepreneurs are self nurturing which means they

Believe in themselves and their ideas

A ______ is a written document that details the business idea, target market and the businesses competitive advantage, financial resources available for the business, and the qualification of the management

Business plan

Entrepreneurs applying fro a bank loan should realize that bankers will

Expect the entrepreneur to provide a business plan

One reason we have seen continued growth in home-based businesses is

affordable computer and information technology makes it easier to compete.

_____ are private individuals who invest their own money in potentially hot new companies before these firms become larger, publicly traded companies

angel investors

Enterprise zones are specific geographic areas that

attract business investment by offering lower taxes and government support for development.

For prospective entrepreneurs enrolling in an introduction to business or small business management course offered through their community college

can be helpful by offering them an opportunity to meet experienced small business owners.

An entrepreneurial team consists of

experienced professionals from different areas of business

After personal savings, the next largest source of capital for entrepreneurs is from

friends and family

The small business administration defines a small business as a firm that

is independently owned but not dominant in its industry.

When starting a small business, its important to remember

learning from others and gaining relevant business experience improves the odds for success.

Business incubators are usually government funded facilities intended to

offer startup firms low-cost office space and basic business services

A market consists of potential buyers of a good or service. However, for a market to exist

people must have unsatisfied wants and needs as well as a willingness and ability to buy

Two key management functions that need particular attention when starting a business are

planning and financing

When comparing small businesses to their larger competitors it is clear that

small firms often can offer more personalized customer services than big firms


Set pelajaran terkait

"Incidents in the Life of a Slave Girl" by Harriet Jacobs

View Set

Vocabulary Workshop Level E Unit 9 Answers

View Set

BUS 101 Chapter 6 Study Questions

View Set

Health Assessment Chapter 3 Practice Questions

View Set

Sadlier-Oxford Vocab Level H - Unit 2

View Set

Fundamentals - Hygiene and Wound Care (Ch. 32 and 33)

View Set

The Surrender Speech of Chief Joseph Vocabulary

View Set

W3 SQL Tutorial PART 1: SQL Intro - SQL Between

View Set

F307 Chapter 8: Introduction to Working Capital Management

View Set