BUS-W 212 Final Exam
True or false: entrepreneurs fare poorly in today's hypercompetitive market
FALSE
true or false: entrepreneurs do not use failure as a tool for learning
FALSE
true or false: in traditional marketing, the role of a marketer is that of internal and external change agent
FALSE
From where do S corporations get their name
Subchapter S of the Internal Revenue Code
True or false: the right brain helps people understand analogies and imagine things
TRUE
Water well strategies refer to
Unique resources
an agreement not to compete is also know as
a waiver of competition clause
the traditional accounting equation that verified accuracy of balance sheet is...
assets = liability + owners' equity
Characteristics often attributed to the entrepreneur include
commitment, determination, and perseverance
In defining research objectives, the entrepreneur should include
consumer tastes
One trait not common in entrepreneurs is
entrepreneurs need structure
In the study of contemporary entrepreneurship, one concept reoccurs:
entrepreneurship is interdisciplinary
secondary data consists of
existing information
the process of trademark registration is cheap or expensive
expensive
One factor not found in high achievers is
failure to listen to feedback
The macro view can be broken down into which three areas
financial/capital, strategic, and opportunity
the individual buying the franchise is the
franchisee
triple bottom line measures of economic performance do not include
global competition
a business plan
may help an entrepreneur avoid a project that is "doomed" from the start
a trademark is a distinctive ________ that is identified with a company's product
name
NOT an appropriate guideline for a successful business plan development
orient the plan to the present
Triple Bottom Line (TBL) does NOT focus on
precedence
One of the disadvantages of going public
shareholder pressure
what can help speed up the idea process
taking breaks while working
When going public, specific detailed information that must be presented includes
the capital structure of the company
In terms of opportunity trends, what is cocooning
the desire to shelter oneself from harsh realities
the determination of fair use of copyrighted material is based on
the effect of use on potential market
a business plan should illustrate
the projected needs of the new business
Which of the following is not a question in the corporate entrepreneurial planning process
has the firm met government regulations for innovation?
Venture classifications include which of the following types of ventures
high-growth ventures
sometimes consumers associate a higher price with
higher product quality
what is NOT associated with entrepreneurial tactics in market research
in-person interviews with a large sample
anyone who violates an authors exclusive rights under a copyright is liable for
infringement
internal venture capital that is set aside for special entrepreneurship projects is called
intracapital
despite the drawbacks of the payback method, the entrepreneur should continue to use it because
it is very simple to use in comparison with other methods
entrepreneurs now view social/environmental issues as
part of the future of business
Every person has the ______ and ______ to pursue a career as an entrepreneur
potential; free choice
the first step in constructing an operating budget is
preparation of the sales forecase
three specific phases that a new venture goes thru are
prestart-up, start-up, poststart-up
what is NOT a type of debt financing
private placement
what is a factor contributing to new-venture failure
product/market problems
rapid technological advances in many industries cause a concern for ________ in new venture development
rapid product obsolescence
net present value NPV is a capital budgeting technique that helps to minimize some of the shortcomings of the payback method by
recognizing future cash flows beyond the payback period
an advantage to buying an on-going business is
reduced concern over future operations, it may be purchased at a bargain price, time and effort are reduced
the comprehensive business plan should be the result of
reflections on the direction of the venture
when one discusses upside gain and downside loss, one is talking about
risk versus reward
in recent studies of new venture problems, dominant problems at start-up were related to
sales/marketing
contribution margin is the difference between
selling price and variable cost per unit
the first step in planning a strategy of entrepreneurship for enterprise is
sharing the vision of innovation
long-term debt is used for
start-up capital and purchase of property/equipment
NOT a social enterprise obligation to the environment
support for minority-own businesses
The word entrepreneur is derived from the French entreprendre, which is translated as:
to undertake
specific factors that organizations can concentrate on in structuring an entrepreneurial climate
top management support, time, resources, rewards, and organizational boundaries
which of the following would be most commonly used for short-term financing
trade credit
What is a characteristic of the "right climate" in the workplace
trustful management that does not exert strict control over employees
security hunting means
using probability and stereotypes to minimize risk
the cash flow budget describes
cash inflows/cash outflows
a variable cost
changes in the same direction and in the direct proportion to changes in operation activity
marketing segmentation focuses on which variable
characteristics that differentiate consumers
The major thrust of corporate entrepreneurship is to
encourage innovation
the entrepreneur must be able to...
handle questions from the evaluators
