MGMT 340 Cheek Final

The registration of a trademark has a lifetime of

10 years plus 10-year renewable periods.

Gazelles have been responsible for

55 percent of innovations

In shaping the ultimate success or failure of a new venture, which of the following statements is most applicable?

A single strategic variable is seldom responsible.

As of 2015, the largest U.S. trading partners included

Canada, China, Mexico

Which of the following statements about conventional marketing is not true?

In conventional marketing, the role of a marketer is that of internal and external change agent.

Which of the following researchers believes that the social mission, not wealth creation, is the most important criterion?

J. Gregory Dees

In order to obtain a patent, an application should be filed with the

Patent and Trademark Office of the Department of Commerce.

The Regulation D exemptions include all of the following except

Rule 503-placements of less than $500,000.

Which of the following statements is true?

The right brain helps people understand analogies and imagine things.

The corridor principle is best described by which of the following statements?

With every new venture launched, new and unintended opportunities arise.

Which of the following terms would be associated with the left hemisphere of the brain?

abstract

The three a's of metrics are

actionable, accessible, and auditable.

The part of a patent application that defines and limits the patented invention is known as the

claim

Which of the following is a type of equity financing?

common stock

Promotion links to which of the 4Cs of marketing?

communities

One study suggested four basic legitimation strategies available to new ventures: conformance, selection, manipulation, and

creation

The owner of a copyright may do all of the following except

deduct the intrinsic value of the rights from one's taxes.

Which of the following characteristics is often attributed to entrepreneurs?

egotism

Financing includes all of the following except

equitable payback

Ray Kroc's development of McDonald's would be a good illustration of which of the following forms of innovation

extension

Because of how they are structured, traditional industries such as textiles, furniture manufacturing, and clothing manufacturing commonly use which of the following debt financing sources?

factoring

A consumer-driven marketing philosophy often relies on direct selling.

false

Business owners normally prefer Chapter 7 bankruptcy over any other form of bankruptcy.

false

Chapter 13 bankruptcy involves a reorganization of the enterprise.

false

Chapter 7, Chapter 9, and Chapter 11 are the most common forms of bankruptcy.

false

Copyrights have to be registered with the Copyright Office.

false

Corporate venturing flourishes when a vertical management system is in place.

false

An approach developed as a criteria selection list from which entrepreneurs can gain insights into the viability of their venture is the _____ approach.

feasibility criteria

There are _____ steps for an entrepreneur to consider when creating a structured approach to a market plan.

five

All of the following are methods for going international except

foreign reclamation

Researchers have described a "fully developed new firm" with a number of characteristics, including

full-time commitment

Bottom-line measures of economic performance include all of the following except

global competition

Which of the following pricing models is not indicative of pricing in the social media age?

growth stage model

One of the advantages of public offerings is

image

Which of the following is not a micro view school of thought?

inherited business school of thought

Internal venture capital that is set aside for special entrepreneurial projects is termed

intracapital

A franchise system can be used for handling

inventory

Bureaucrats in an organization must

learn to give way to intrapreneurs.

An infringement budget deals with

legal battles

Which of the following is a critical consideration when assessing customer availability?

length of time needed to determine who the customers are, as well as their buying habits

Which of the following can provide a structure that facilitates investments in socially beneficial, for-profit ventures?

low-profit, limited liability company (L3C)

Under design-centered entrepreneurship, moving from one particular action stage back to a previous stage for further development is a _____ methodology.

macroiterations

Which of the following is not one of the eight critical factors that venture capitalists use in the evaluation of new ventures?

managerial structure

Mountain gap strategies refer to unique

markets

Membership in the World Trade Organization represents _____ of the world's population at present.

more than 97 percent

The North American Free Trade Agreement (NAFTA) offers strong protection for

patents and copyrights

In the struggle to achieve security, many people also tend to rely on the theory of _____ thinking to make decisions.

probability

Two important components of creative problem solving are _____ and _____.

process;people

Which of the following is a tool that enables entrepreneurs to judge a business venture's potential?

profile analysis

A patent infringer can be liable for all _____ resulting from the infringement as well as for legal fees.

profits

Benefit corporations concern themselves with

purpose, accountability, and transparency

Rapid technological advances in many industries cause a concern for _____ in new venture development.

rapid product obsolescence

Advantages of debt financing include all of the following except

regular interest payments

Looking for different or unorthodox relationships among elements and people is one way to develop creativity. A person might develop this capacity by perceiving in a _____ mode.

relational

The textbook discusses all of the following aspects that distinguish social media marketing from traditional marketing except

relevancy

Which of the following is not a key factor affecting a marketing information system?

size of the system

The two parts to a patent application are claims and

specification

Large-scale or otherwise highly consequential innovations are adopted in pursuit of a firm's competitive advantage in a(n) _____ approach.

strategic entrepreneurship

Which of the following is not a major trend that has occurred in venture capital over the last few years?

stronger small start-up investments

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

trade credit

Patents eventually expire.

true

Purpose, accountability, and transparency are characteristics associated with socially sustainable enterprises.

true

Sources of debt financing include trade credit, accounts receivable financing, factoring, and finance companies

true

The Greek thinker, Chilon, felt that a merchant does better to take a loss than to make a dishonest profit.

true

The macro view of entrepreneurship includes external processes that are sometimes beyond the control of the entrepreneur.

true

There are three main types of strategic international alliances.

true

Entrepreneurs and gazelles have been credited with making disproportionate contributions to all but which of the following?

unemployment

The micro view is divided into which of the following three theories?

venture opportunity, entrepreneurial, and strategic

The four phases of the creative process are knowledge accumulation, incubation, ideas, and evaluation and implementation

true

Which of the following is not a factor regarding the condition of inventory?

suppliers

Which of the following was a significant contributor to job growth, with the creation of 263,950 new jobs in the United States in 2016?

angel investments

Which of the following is not currently cited as a trend creating business opportunities

breakfast cereals

The first of five steps for entering the international marketplace is

conducting research

A marketing information system compiles and organizes data according to a customer's sex, age, and geographic location.

false

Effective marketing is based on three key elements: marketing philosophy, market segmentation, and consumer philosophy.

false

In design-centered entrepreneurship, the entrepreneur applies design methods in six action stages of developing an opportunity.

false

Investors are willing to invest even if they do not immediately see the potential for growth and profit.

false

It is not uncommon for a buyer to be faced with a franchise fee of $250,000 to $1,000,000.

false

Public offering is a term used to refer to corporations taking public donations to raise capital.

false

The Corporate Entrepreneurship Assessment Instrument (CEAI) identified six factors critical to the internal environment of an organization seeking to have its managers pursue innovative activity.

false

The freemium model requires new and exciting content each month to build a long-term relationship with fee-paying customers.

false

During the prestart-up and start-up phases, _____ factors are critical.

five

Venture capital in the United States has been highest in which of the following?

health care

For entrepreneurs, vision describes

how the market works

According to the U.S. Patent and Trademark Office, the process of obtaining a patent takes about _____ years.

3

According to Forbes, the net worth of the richest _____ Americans was $2.29 trillion ($5.73 billion per person).

400

Flexibility, reliability, and safety are all examples of

technical feasibility

Which of the following does not represent a category of angel investors?

technology angels

The actual cost of "opening the doors" of a franchise establishment can be more than $200,000.

true

Examples of social enterprise obligations to the environment include all of the following except

construction of energy

Independence, autonomy, and _____ are the major driving forces behind lifestyle ventures

control

The textbook recommends that social media marketers consider which of the following three aspects of social media when using those tools for marketing purposes?

creating, enabling, and encouraging

A checklist approach allows the entrepreneur to identify _____ factors of a new venture.

critical

A franchise is any arrangement where the owner has licensed others to sell goods or services by which of the following?

trademark

A startup that surpasses the $1 billion level is known as a unicorn.

true

Frugality is deemed a bootstrapping technique.

true

The Lean Start-Up methodology is hypothesis-driven.

true

Patents that are not design patents have _____ years of protection.

20

The Franchise Disclosure Document (FDD) contains how many categories?

23

The average size of social loans is around $17,000.

true