IUPUI BUS-X100 EXAM 2 2025
QUETSIONS AND ANSWERS
Service Industries - ....ANSWER ...-Services
Distribution Industries - ....ANSWER ...-Retailing & Wholesale Trade
Production Industries - ....ANSWER ...-Manufacturing, General & Heavy
Construction, Special Trade Construction
Advantages of Small Businesses - ....ANSWER ...-Flexibility, Independence,
Service, Simplified, Specialization
Disadvantages of Small Businesses - ....ANSWER ...-Risk of failure, Limited
potential, Limited ability to raise capital, Little 'power'
key issues involved in entrepreneurship - ....ANSWER ...-risk, creativity,
innovation, competition
entrepreneur - ....ANSWER ...-a person who risks time, effort, and money to
start and operate a business
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 1
, characteristics of a successful entrepreneur - ....ANSWER ...-vision, high
energy level, self-confidence, optimism, creativity, tolerance for uncertainty,
tolerance for failure
likelihood of entrepreneurial success - ....ANSWER ...-over 70% of new
businesses can be expected to fail within their first ten years
Small Business Administration (SBA) - ....ANSWER ...-established in 1953
to aid, counsel, assist, and protect the interests of small business.
franchise - ....ANSWER ...-an agreement between a Franchisor and a
Franchisee to market, sell or license products, services or concepts. A Franchisee
pays fees to the Franchisor
Resources of Management - ....ANSWER ...-human resources, information
resources, material resources, financial resources.
management - ....ANSWER ...-the process of leading and coordinating
people (along with other resources) to achieve the organization's goals and
objectives
five-step management process - ....ANSWER ...-planning, organizing,
leading & motivating, controlling, review and modify
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 2
QUETSIONS AND ANSWERS
Service Industries - ....ANSWER ...-Services
Distribution Industries - ....ANSWER ...-Retailing & Wholesale Trade
Production Industries - ....ANSWER ...-Manufacturing, General & Heavy
Construction, Special Trade Construction
Advantages of Small Businesses - ....ANSWER ...-Flexibility, Independence,
Service, Simplified, Specialization
Disadvantages of Small Businesses - ....ANSWER ...-Risk of failure, Limited
potential, Limited ability to raise capital, Little 'power'
key issues involved in entrepreneurship - ....ANSWER ...-risk, creativity,
innovation, competition
entrepreneur - ....ANSWER ...-a person who risks time, effort, and money to
start and operate a business
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 1
, characteristics of a successful entrepreneur - ....ANSWER ...-vision, high
energy level, self-confidence, optimism, creativity, tolerance for uncertainty,
tolerance for failure
likelihood of entrepreneurial success - ....ANSWER ...-over 70% of new
businesses can be expected to fail within their first ten years
Small Business Administration (SBA) - ....ANSWER ...-established in 1953
to aid, counsel, assist, and protect the interests of small business.
franchise - ....ANSWER ...-an agreement between a Franchisor and a
Franchisee to market, sell or license products, services or concepts. A Franchisee
pays fees to the Franchisor
Resources of Management - ....ANSWER ...-human resources, information
resources, material resources, financial resources.
management - ....ANSWER ...-the process of leading and coordinating
people (along with other resources) to achieve the organization's goals and
objectives
five-step management process - ....ANSWER ...-planning, organizing,
leading & motivating, controlling, review and modify
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 2
