ENT Final - Bolen
The development and implementation of a new business is part __________ & part
___________. - CORRECT ANSWER-art and science
Small companies have flourished in the U.S. because they?
a. respond more quickly to customer needs
b. have better organizational policies/procedures
c. often expand easily in mature industries
d. employ more skilled people than large businesses - CORRECT ANSWER-a. respond
more quickly to customer needs
What term is used to describe individuals or other organizations that impact the success
of a business?
a. capitalists
b. stakeholders
c. corporate managers
d. owners - CORRECT ANSWER-b. stakeholders
In the context of the initial developments of the industrial base in the United States,
which of the following statements is true about robber barons?
a. ensured that smaller corps. were effectively put out of business
b. quickly came to dominate new sectors of the economy
c. came to dominate industrial sectors that had existed historically
d. were unable to take advantage of econ. of scale that were possible - CORRECT
ANSWER-b. quickly came to dominate new sectors of the economy
In the context of entrepreneurship around the world, identify a true statement about
microloans:
a. The repayment rate on such loans is typically 50%
b. Such loans typically see much lower repayment rate than most loans
c. The success of such loans has been substantial, w/ great strides being made in many
desperately poor nations
d. The failure of such loans has resulted in a decr. dedication of the U.S. aid budget to
microloans for developing nations - CORRECT ANSWER-c. The success of such loans
has been substantial, w/ great strides being made in many desperately poor nations
, The success of entrepreneurial business occurs partially because they are
___________. - CORRECT ANSWER-more focused than their large corporate
counterparts
You should not use a cookie-cutter business plan program because:
a. a good plan is best developed by the individual contemplating the business, not by a
paid consultant
b. each business plan should have its own voice, feel, & presentation
c. all of these answers are correct
d. potential investors are often family members, which makes it critical that the
entrepreneur seeks to ensure the chances of the success by doing thorough
planning/thinking - CORRECT ANSWER-c. all of these answers are correct
Years ago, economists mistakenly predicted that small businesses would - CORRECT
ANSWER-be replaced by a smaller number of big businesses
Owning a small business provides a means to meet varied demands that individuals
face in society. Which of the following is not a need mentioned in the discussion of how
society benefits from small business ownership?
a. all of these answers choices are correct
b. entrepreneurs prefer the flexibility to deal w/ the needs of family/kids that business
ownership provides
c. small business owners have greater ability to attract financing from venture capital
firms
d. small business owners leave big businesses because of the lack of promotion
opportunities - CORRECT ANSWER-c. small business owners have greater ability to
attract financing from venture capital firms
What term is used to describe Walmart's ability to purchase more advertising space at a
lower cost per ad?
a. buying bonus
b. volume excess
c. economies of scale
d. advertising bonus - CORRECT ANSWER-c. economies of scale
T/F: When using a harvest plan, small companies are organized to grow rapidly, and
they have no debt. - CORRECT ANSWER-False
T/F: The development plan of a venture capital start-up is oriented around positive cash
flow. - CORRECT ANSWER-False
The development and implementation of a new business is part __________ & part
___________. - CORRECT ANSWER-art and science
Small companies have flourished in the U.S. because they?
a. respond more quickly to customer needs
b. have better organizational policies/procedures
c. often expand easily in mature industries
d. employ more skilled people than large businesses - CORRECT ANSWER-a. respond
more quickly to customer needs
What term is used to describe individuals or other organizations that impact the success
of a business?
a. capitalists
b. stakeholders
c. corporate managers
d. owners - CORRECT ANSWER-b. stakeholders
In the context of the initial developments of the industrial base in the United States,
which of the following statements is true about robber barons?
a. ensured that smaller corps. were effectively put out of business
b. quickly came to dominate new sectors of the economy
c. came to dominate industrial sectors that had existed historically
d. were unable to take advantage of econ. of scale that were possible - CORRECT
ANSWER-b. quickly came to dominate new sectors of the economy
In the context of entrepreneurship around the world, identify a true statement about
microloans:
a. The repayment rate on such loans is typically 50%
b. Such loans typically see much lower repayment rate than most loans
c. The success of such loans has been substantial, w/ great strides being made in many
desperately poor nations
d. The failure of such loans has resulted in a decr. dedication of the U.S. aid budget to
microloans for developing nations - CORRECT ANSWER-c. The success of such loans
has been substantial, w/ great strides being made in many desperately poor nations
, The success of entrepreneurial business occurs partially because they are
___________. - CORRECT ANSWER-more focused than their large corporate
counterparts
You should not use a cookie-cutter business plan program because:
a. a good plan is best developed by the individual contemplating the business, not by a
paid consultant
b. each business plan should have its own voice, feel, & presentation
c. all of these answers are correct
d. potential investors are often family members, which makes it critical that the
entrepreneur seeks to ensure the chances of the success by doing thorough
planning/thinking - CORRECT ANSWER-c. all of these answers are correct
Years ago, economists mistakenly predicted that small businesses would - CORRECT
ANSWER-be replaced by a smaller number of big businesses
Owning a small business provides a means to meet varied demands that individuals
face in society. Which of the following is not a need mentioned in the discussion of how
society benefits from small business ownership?
a. all of these answers choices are correct
b. entrepreneurs prefer the flexibility to deal w/ the needs of family/kids that business
ownership provides
c. small business owners have greater ability to attract financing from venture capital
firms
d. small business owners leave big businesses because of the lack of promotion
opportunities - CORRECT ANSWER-c. small business owners have greater ability to
attract financing from venture capital firms
What term is used to describe Walmart's ability to purchase more advertising space at a
lower cost per ad?
a. buying bonus
b. volume excess
c. economies of scale
d. advertising bonus - CORRECT ANSWER-c. economies of scale
T/F: When using a harvest plan, small companies are organized to grow rapidly, and
they have no debt. - CORRECT ANSWER-False
T/F: The development plan of a venture capital start-up is oriented around positive cash
flow. - CORRECT ANSWER-False
