ENT 2113 Final Exam Questions With
Correct Answers
A venture capital-backed business plan typically runs from
| | | | | | | |
_______pages long. - CORRECT ANSWER✔✔-25 to 45 | | | | | |
Identify the reasons individuals can become frustrated with working in a
| | | | | | | | | |
|large corporation. - CORRECT ANSWER✔✔-Lack of promotion
| | | | | | |
opportunities |
Inflexibility of large corporations in dealing with the needs of an
| | | | | | | | | | |
individual's family and children | | |
The process of a new business is unique and has developed into a
| | | | | | | | | | | | |
popular area of study at colleges around the globe. (Check all that
| | | | | | | | | | | |
apply.) - CORRECT ANSWER✔✔-initiating
| | | |
developing |
running
What is the most important single factor in the business's success? -
| | | | | | | | | | | |
CORRECT ANSWER✔✔-The business owner
| | |
,Large firms can obtain economies of scale in some industries because of
| | | | | | | | | | |
their ability to operate on a larger scale than can a small firm. -
| | | | | | | | | | | | | | |
CORRECT ANSWER✔✔-Economies of scale
| | |
In their book entitled The Millionaire Next Door, Thomas Stanley and
| | | | | | | | | | |
William Danko point out that almost two-thirds of U.S. millionaires are -
| | | | | | | | | | | |
CORRECT ANSWER✔✔-self-employed |
Which of the following are important elements of a one-page pitch for
| | | | | | | | | | | |
your business? - CORRECT ANSWER✔✔-Product offering
| | | | | |
Customer problem | |
Business model |
True or false: Every business in the Fortune 500 started out as a large
| | | | | | | | | | | | | |
corporation. - CORRECT ANSWER✔✔-False | | |
Recent trends indicate that larger corporations have been
| | | | | | | |
_________while entrepreneurial businesses have been | | | | |
_________rapidly. - CORRECT ANSWER✔✔-downsizing; growing | | | |
Stakeholders include key suppliers, customers, and employees. These
| | | | | | | |
individuals are critical to the success of a business. - CORRECT
| | | | | | | | | | |
ANSWER✔✔-Stakeholders
,__________are often for only a few dollars each and are made directly
| | | | | | | | | | | |
to entrepreneurs to encourage self-development in developing nations.
| | | | | | |
- CORRECT ANSWER✔✔-Microloans
| | |
Who is associated not only with the success of the industrial base but
| | | | | | | | | | | | |
also with the great abuses in business? - CORRECT ANSWER✔✔-Robber
| | | | | | | | | |
barons
Which of the following statements are true regarding the closure of
| | | | | | | | | | |
military bases in the United States? - CORRECT ANSWER✔✔-Cities with
| | | | | | | | | |
base closings experienced increases in new businesses.
| | | | | | |
Cities with base closings experienced higher income growth.
| | | | | | | |
Cities with base closings offered tax breaks and programs to support
| | | | | | | | | | |
new business development.
| |
Which of the following are characteristics of venture capital-backed
| | | | | | | | |
firms? - CORRECT ANSWER✔✔-They either start or grow quickly to
| | | | | | | | | |
employ a relatively large number of employees.
| | | | | | |
They have a developed organizational structure.
| | | | | |
They are formed with a harvest plan in place.
| | | | | | | |
, The process of forming and managing a new entrepreneurial business in
| | | | | | | | | |
a clear, sequential manner that is rich in practical application and
| | | | | | | | | | | |
grounded in research is the ____________part of entrepreneurial
| | | | | | | |
business development. - CORRECT ANSWER✔✔-science
| | | |
Silicon Valley and Boston's 128 corridor are well known for: - CORRECT
| | | | | | | | | | | |
ANSWER✔✔-correct generating new employment with entrepreneurial | | | | | |
ventures. |
providing a growing tax revenue base. | | | | | |
providing a basis to the area's economic vitality.
| | | | | | |
Which of the following are goals of the business plan for a new
| | | | | | | | | | | | |
entrepreneurial business? - CORRECT ANSWER✔✔-To provide investors | | | | | | |
with necessary information
| | |
To be a guide to managing the business
| | | | | | | |
To provide self-evaluation
| |
Correct Answers
A venture capital-backed business plan typically runs from
| | | | | | | |
_______pages long. - CORRECT ANSWER✔✔-25 to 45 | | | | | |
Identify the reasons individuals can become frustrated with working in a
| | | | | | | | | |
|large corporation. - CORRECT ANSWER✔✔-Lack of promotion
| | | | | | |
opportunities |
Inflexibility of large corporations in dealing with the needs of an
| | | | | | | | | | |
individual's family and children | | |
The process of a new business is unique and has developed into a
| | | | | | | | | | | | |
popular area of study at colleges around the globe. (Check all that
| | | | | | | | | | | |
apply.) - CORRECT ANSWER✔✔-initiating
| | | |
developing |
running
What is the most important single factor in the business's success? -
| | | | | | | | | | | |
CORRECT ANSWER✔✔-The business owner
| | |
,Large firms can obtain economies of scale in some industries because of
| | | | | | | | | | |
their ability to operate on a larger scale than can a small firm. -
| | | | | | | | | | | | | | |
CORRECT ANSWER✔✔-Economies of scale
| | |
In their book entitled The Millionaire Next Door, Thomas Stanley and
| | | | | | | | | | |
William Danko point out that almost two-thirds of U.S. millionaires are -
| | | | | | | | | | | |
CORRECT ANSWER✔✔-self-employed |
Which of the following are important elements of a one-page pitch for
| | | | | | | | | | | |
your business? - CORRECT ANSWER✔✔-Product offering
| | | | | |
Customer problem | |
Business model |
True or false: Every business in the Fortune 500 started out as a large
| | | | | | | | | | | | | |
corporation. - CORRECT ANSWER✔✔-False | | |
Recent trends indicate that larger corporations have been
| | | | | | | |
_________while entrepreneurial businesses have been | | | | |
_________rapidly. - CORRECT ANSWER✔✔-downsizing; growing | | | |
Stakeholders include key suppliers, customers, and employees. These
| | | | | | | |
individuals are critical to the success of a business. - CORRECT
| | | | | | | | | | |
ANSWER✔✔-Stakeholders
,__________are often for only a few dollars each and are made directly
| | | | | | | | | | | |
to entrepreneurs to encourage self-development in developing nations.
| | | | | | |
- CORRECT ANSWER✔✔-Microloans
| | |
Who is associated not only with the success of the industrial base but
| | | | | | | | | | | | |
also with the great abuses in business? - CORRECT ANSWER✔✔-Robber
| | | | | | | | | |
barons
Which of the following statements are true regarding the closure of
| | | | | | | | | | |
military bases in the United States? - CORRECT ANSWER✔✔-Cities with
| | | | | | | | | |
base closings experienced increases in new businesses.
| | | | | | |
Cities with base closings experienced higher income growth.
| | | | | | | |
Cities with base closings offered tax breaks and programs to support
| | | | | | | | | | |
new business development.
| |
Which of the following are characteristics of venture capital-backed
| | | | | | | | |
firms? - CORRECT ANSWER✔✔-They either start or grow quickly to
| | | | | | | | | |
employ a relatively large number of employees.
| | | | | | |
They have a developed organizational structure.
| | | | | |
They are formed with a harvest plan in place.
| | | | | | | |
, The process of forming and managing a new entrepreneurial business in
| | | | | | | | | |
a clear, sequential manner that is rich in practical application and
| | | | | | | | | | | |
grounded in research is the ____________part of entrepreneurial
| | | | | | | |
business development. - CORRECT ANSWER✔✔-science
| | | |
Silicon Valley and Boston's 128 corridor are well known for: - CORRECT
| | | | | | | | | | | |
ANSWER✔✔-correct generating new employment with entrepreneurial | | | | | |
ventures. |
providing a growing tax revenue base. | | | | | |
providing a basis to the area's economic vitality.
| | | | | | |
Which of the following are goals of the business plan for a new
| | | | | | | | | | | | |
entrepreneurial business? - CORRECT ANSWER✔✔-To provide investors | | | | | | |
with necessary information
| | |
To be a guide to managing the business
| | | | | | | |
To provide self-evaluation
| |
