question

studies shown that prior experience in an industry help entrepreneurs recognize business opportunities Is this True or False?

answer

True

question

Entrepreneurship is the process by which individuals pursue within the constraints of the resources they control. True or False

answer

False

question

Which of the following is not an example of a social force?

answer

changes in interest rates

question

According to the text book the number one reason people become Entrepreneurs is to?

answer

be their own boss

question

the ability notice things without engaging in deliberate conversation is ?

answer

Entrepreneurial alertness

question

a_______ is a favorable set circumstances that create a new product, service, or business.

answer

opportunity

question

according to the textbook entrepreneurs are _____ risk takers

answer

moderate

question

Google is established firm that encourages and emphases that entrepreneurial behavior throughout its various divisions. Google practices________ entrepeneurship

answer

Corperate

question

the three ways to identify an opportunity include observing a problem and finding gaps in the market place . is this true or false

answer

True

question

the number one characteristic shared by successful entrepreneurs is passions for their business. is this true or false

answer

true

question

fragmented industries are more receptive to new entrants that are dominated by a handful of large firms. true or false

answer

True

question

jenifer is thinking about starting a firm in upscale wood area. to get full appreciation of the competitive nature industry how might she position her products .she has spent time looking for industry related publications which is a database that provides access to articles conversation of business and industry related issues what type of research is jenifer conducting ?

answer

secondary

question

what is the main purpose of writing a business plan?

answer

the plan helps the company develop a blueprint to follow and the plan introduces new investors and stakeholders to the business

question

for most business plans 40-50 pages is suffice. true or false

answer

false

question

the proper sequence for developing successful business identifications is to conduct feasibility analysis then progress through the recognition stage and finish with the completion of the business plan. true or false

answer

false

question

kendra is starting a firm in shoe industry her shoes will be high quality and be priced at the top end of the market this strategy is referred to as ?

answer

differentiation

question

best industry to enter is where porters five forces are low t or f?

answer

true

question

a___ is the string of that moves product to the material stage through manufacturing and distribution and sent to the end user.

answer

The value chain

question

Shelly recently launched a firm in the fruit drink industry she curently ships to 9 different countries one thing she is doing is varying taste of the drinks based on the demands of the local markets she is pursuing a ______ strategy.

answer

Multi domestic strategy

question

a ___ is a group producing a similar product as soft drinks electronic games or computers?

answer

industry

question

companies benefiting from factors of age such as glasses company and hearing aids benefit from what ?

answer

environmental trend

question

a firm in electronic games produces similar conceptual games but they arent as sophisticated and are placed at the low end of the market this strategy is referred to as ___?

answer

Cost leadership

question

A ___ is referred to as a document written that deals with certain issues of a firm specifically the split of equity of the founders and other specified agreements of the firms founders.

answer

founders agreement

question

which of the following is the important thing that arranging a team of entrepreneur can do to build a strong ethical organization?

answer

lead by example

question

a statement of cash flows is a snapshot of a companies assets and owners equity at a specific point in time true or false ?

answer

false

question

the major difference between a general and limited partnership limited includes two classes general and limited partnership. true or false

answer

true

question

A disadvantage of a sole proprietorship is that it is subject to double taxation. true or false

answer

false

question

Financial management deals with two things: raising money and managing a company's finances in a way that achieves the highest rate of return. true or false

answer

True

question

Which financial statement records all of a firms revenues and expenses for a given period and shows whether the firm is making a profit or experiencing a loss?

answer

Income Statement

question

Kevin was reading the business plan of New Venture Fitness Drinks, and noticed that prior to its financial forecasts, New Venture Fitness Drinks placed an explanation of the sources of the numbers for the forecast and the assumptions used to generate them. This explanation is called a(n) _______.

answer

Assumption Sheet

question

Which of the following was not identified as one of the four main financial objectives of a firm?

answer

Timeliness

question

Which of the following is a disadvantage of a C Corporation?

answer

Income is subject to double taxation

question

Gillian is in the process of launching an educational services firm. She plans to incorporate the firm. Because the firm will be a corporation, Gillian is legally required to have a ______.

answer

board of directors

question

Which of the following statements about advisory boards is incorrect?

answer

Similar to a board of directors, an advisory board has legal responsibility for the firm in certain areas.

question

Founding teams that have worked together before, as opposed to teams that are working together for the first time, have an edge. T or f

answer

True

question

A(n) __________ is a panel of experts who are asked by a firm's managers to provide counsel and advice on an ongoing basis.

answer

advisory board

question

Typically, the seed money that gets a company started comes from a commercial bank. True or False

answer

False

question

There are three reasons that most entrepreneurial ventures need to raise money during their early life: cash flow challenges, capital investments, and lengthy product development cycles. True or False

answer

True

question

Which of the following is not a source of equity funding?

answer

Government Grants

question

A new venture team is the group of founders, key employees, and advisers that move a new venture from an idea to a fully functioning firm. True Or False

answer

True

question

Jason's startup, which is in the electronics industry, was launched January 1, 2009. However, prior to its formal launch, Jason spent many hours working on his business, particularly during the feasibility analysis stage. The value of the time and effort that a founder puts into a new venture is referred to as _________.

answer

sweat equity

question

Many startups emphasize advertising over public relations primarily because it's cheaper and helps build the firm's credibility. True or False

answer

False

question

Computer software is not covered by copyright law. True or false

answer

False

question

Once a firm has segmented the market, the next step is to ____________.

answer

select a target market

question

Which of the following are the four key forms of intellectual property protection?

answer

Patents, trademarks, copyrights, and trade secrets

question

A firm's marketing mix is the assortment of products and services it sells. True or False

answer

False

question

Which of the following is an example of intellectual property

answer

Nike's swoosh logo

question

A(n) ______ is the set of attributes - positive or negative - that people associate with a company.

answer

brand

question

Utility patents are the most common type of patent and cover what we generally think of as new inventions. True or False

answer

True

question

The first step in selecting a target market is to study the industry in which the firm intends to compete and determine the different potential target markets in that industry. This process is called __________.

answer

market segmentation

question

There are two primary rules of thumb for deciding if intellectual property protection should be pursued for a particular intellectual asset. First, a firm should determine if the intellectual property in question is directly related to its competitive advantage. Second, a firm should determine if its intellectual property _____________.

answer

has value in the marketplace

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