Global Business Concepts Chapter 7 – Flashcards
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In 2010, overall U.S entrepreneurship rates reached their highest level in 15 years. The rate increase is partially driven by...
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unemployed workers looking to stay afloat as they sought new jobs.
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_____ are people willing to take the risk of starting, owning, and operating a business
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entrpreneurs
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The primary reason many people become entrepreneurs is
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to make more money
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on characteristic many successful entrepreneurs share includes...
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vision, self-reliance, energy and confidence
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entrepreneurs tend to be tolerant of...
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uncertainty and failure
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When entrepreneurs fail, they tend to...
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view failure as a chance to learn. never label themselves losers
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Consumer Reports founds 68% of entrepreneurs start-up financing comes from...
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personal resources
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The majority of new small business owners rely heavily on __________ to finance their start-ups.
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personal accounts, family & friends.
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Small business start-ups are likely to find that getting commercial loans is..
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tough
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______ are wealthy individuals who invest in new and growing firms
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angel investors
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local offices affiliated w/the Small Business Administration that provide comprehensive management assistance to current and prospective small business owners
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Small Business Development Centers
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_____ a formal document that describes a business concept and outlines the core business objectives while detailing the strategies and timelines for achieving those objectives
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business plan
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overhead costs for small businesses..
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are lower
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a venture capitalist firm is most likely to be interested in investing in a ...
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start-up business w/ high growth potential in exchange for a share of ownership
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The top five venture capitalist deals of 2010 were in the______ sector
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Clean Tech Category
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For research purposes, the Small Business Administration defines small business as companies with up to _____ employees
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500
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Technological developments over the past two decades, such as the rise of internet and email, have made it ...
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easy for small business owners to manage their firms on the go or after hours.
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Entrepreneurs with a strong internal locus of control tend to...
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1. have a deep-seated sense that they are personally responsible for what happens 2. if things go well, feel their efforts are validated. if things go poorly, feel they need to do better next time. 3. have a sense of responsibility that encourages positive action..
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A funding source that makes it easier for entrepreneurs to get money w/ favorable terms is referred to as...
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Peer-to-peer lending bring together borrowers and investors so that both can benefit financially. It's an easier way to get money, at more favorable terms
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Top 5 venture capitalist deals of 2010 were in the...
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"Clean Tech" sector
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_____ are small segments w/in a market that can offer profit potential to entrepreneurs who know how to serve them.
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market niche small segment f market w/ fewer competitors than the market as a whole. quite attractive to small firms.
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small businesses have...
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lower overhead costs -can hire fewer managers -fewer specialized employees, -dont have costly healthcare benefits
