ENT 2113 FINAL QUESTIONS AND ANSWERS

A venture capital-backed business plan typically runs from _______pages long. - Answer-25 to 45 Identify the reasons individuals can become frustrated with working in a large corporation. - 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.) - Answer-initiating developing running What is the most important single factor in the business's success? - 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. - 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 - Answer-self-employed Which of the following are important elements of a one-page pitch for your business? - Answer-Product offering Customer problem Business model True or false: Every business in the Fortune 500 started out as a large corporation. - Answer-False Recent trends indicate that larger corporations have been _________while entrepreneurial businesses have been _________rapidly. - Answer-downsizing; growing Stakeholders include key suppliers, customers, and employees. These individuals are critical to the success of a business. - Answer-Stakeholders __________are often for only a few dollars each and are made directly to entrepreneurs to encourage self-development in developing nations. - Answer-Microloans