ADM 3313 MIDTERM PREP
The three dimensions of performance associated with the triple bottom line
People, planet and profits
What are P2P lenders?
Private lenders who charge fees for brokering/servicing loans
Who makes the final decision after all the information has been gathered?
The entrepreneur
What is public offering?
The offering of securities of a company or a similar corporation to the public
Which of the following statements is not true of venture capitalists?
They are interested in managing firms themselves.
Why do entrepreneurs sell a venture?
To gain liquidity
"Intensity of competition" changes the dominance of problem areas
True
Entrepreneur and small-business owner are used interchangeably
True
Many entrepreneurs do not understand the marketing life cycle of a new product
True
Pricing becomes less of a concern when customers know about a product's unique characteristics that are superior to the competition
True
Timing is critical to the new-venture profitability method
True
A typical symptom of impending bankruptcy is when
other firms seem to be selling products that are a generation ahead
The advantages of franchising do not include
Brand name appeal
An organization that offers a range of support services and funding opportunities for new ventures is called a(n)
Business accelerator
Product/market problems involve
unclear business definition.
Works created after January 1, 1978, have a copyright for the life of the author plus
40 years
The displacement school of thought can be divided into which of the following three groups?
Economic, cultural, and political
18. The term risk versus loss refers to the amount of return for funds invested.
False
A buyer faces large franchise fees
False
The entrepreneurial spirit is unique to the modern age
False
Characteristics of an entrepreneur
Innovative, independent, creative, seeks opportunity
Which of the following would be most commonly used for long-term financing? (trick)
Insurance companies
Which of the following is a key question to ask when performing a feasibility criteria approach?
Is it proprietary?
In order to obtain a patent, an application should be filed with the
Patent and Trademark Office of the Department of Commerce
Segregating the assets is which step in selling a business
Second
Which of the following is not a question commonly asked by banks of entrepreneurs?
What interest rate did you have in mind?
Which of the following is not one of the most common questions typically required to be answered by entrepreneurs seeking funding?
When will you repay the money?
Which of the following questions concerning innovation is not relevant?
Whom does it affect?
49. Evaluating franchise opportunities include finding out more about all of the following except the
franchise location.
Many entrepreneurs of new ventures lack
a unique angle for the venture
Business-related reasons for selling may include all of the following except
changes in location
**Business-related reasons for selling do not include which of the following?**
changes in the product supply chain
Managerial problems include
concept of a team approach.
Ecologically innovative firms
ecovision
Financing doesn't include
equitable payback
Ray Kroc's development of McDonald's would be a good illustration of which of the following forms of innovation?
extension
A common human resource problem is
inflated owner ego.
Which of the following is not an example of recognizing relationships in creativity?
introducing Sierra Mist to the market to compete with Sprite
An agreement not to compete is also known as a
legal restraint of trade.
Major trends in the venture capital field today include all of the following except
less specialized and more homogenous funds
trend that signals a shift in the current paradigm of the population
market
A common pitfall in selecting a new venture is
poor financial understanding.
During the prestart-up and start-up phases of a new venture, which of the following is not considered one of the crucial factors for success?
price and timing
Which of the following is a tool that enables entrepreneurs to judge a business venture's potential?
profile analysis
18. Benefit corporations concern themselves with
purpose, accountability, and transparency.
Benefit corporations concern themselves with
purpose, accountability, and transparency.
A disadvantage of debt financing is
regular interest payments
Advantages for global entrepreneurs of diaspora networks are
speed with which information flows across borders.
Timing is especially critical in
the new-venture profitability method.
Key elements in plans to create a sustainable future are likely to eliminate what?
waste
The three dimensions of performance associated with the triple bottom line are people, the planet, and profits.
True
How many phases does a new venture go through?
4
Who are informal risk capatislists?
those who have already made their money and now seek to help new ventures