DOWNLOAD THE Test Bank for Entrepreneurial Small Business 5th Edition
Katz
Chapter 02
Small Business Entrepreneurs: Characteristics and Competencies
True / False Questions
1. The majority of new businesses are run by a solo entrepreneur.
True False
2. One way entrepreneurs display passion is by being persistently focused on the business.
True False
3. Opportunistic planners always plan around the most important aspect of the business first, act on
it, and then consider if additional plans are needed.
True False
4. Habit-based planners don't plan, and they don't even tend to react to changes in their
environments.
True False
5. Most businesses run by teams are not family related.
True False
6. Like every person, every small business is unique. There is no way to predict how the company will
progress in the growth process.
True False
2-1
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,DOWNLOAD THE Test Bank for Entrepreneurial Small Business 5th Edition DOWNLOAD THE Test Bank for Entrepreneurial Small Business 5th Edition
Katz Katz
7. The competency suggested by exchange relates to the organizational and business processes of a 15. Several models exist for the life cycle of the small business firm. Each divides the stages a bit
firm called basic business competency. differently.
True False True False
8. Skills necessary to identify and exploit elements of the business environment that can lead to a 16. The slowest growing sector of all U.S. businesses is women-owned businesses.
profitable and sustainable business are called opportunity competencies.
True False
True False
17. Access problems for women- and minority-owned small businesses crop up most often as
9. With over 8.3 million businesses owned by women, they account for a quarter of small business discrimination in marketing.
revenue nationally.
True False
True False
18. For corporations, certification for businesses owned by women or minority is handled by
10. Workers are opting for early retirement as corporations merge, downsize, and reorganize. organizations that are not affiliated with the government or big business.
True False True False
11. Entrepreneurs get used to a do-it-yourself approach, which can be especially trying for second 19. About a third of the second career types who return to work decide to become self-employed.
career entrepreneurs.
True False
True False
20. One of the major issues identified for second career entrepreneurs is keeping personal finances
12. Succession plans deal with the people who will take over, what roles they will fill, and what out of the business.
supports they will receive.
True False
True False
13. One way to maximize communication in the succession process is to create a family council.
Multiple Choice Questions
True False
14. In family-owned businesses, the board of directors can only be comprised of family members.
True False
2-2 2-3
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,DOWNLOAD THE Test Bank for Entrepreneurial Small Business 5th Edition DOWNLOAD THE Test Bank for Entrepreneurial Small Business 5th Edition
Katz Katz
21. This stage of the business life cycle occurs once the firm is established in its market. 25. The majority of businesses run by teams are comprised of:
A. The success stage. A. five or more members.
B. The emergence stage. B. one member.
C. The existence stage. C. three members.
D. The resource maturity stage. D. two members.
22. Which of the following statements concerning family businesses is correct? 26. The problem behavior of trying the same action repeatedly without learning is called _____.
A. Family members often work in the business but may not sit on the council. A. perseveration
B. Family businesses employ about 20 percent of America's total workforce. B. prevention focus
C. Most top managers at family firms tend to stay in their positions much longer than those at C. effectuation
nonfamily firms. D. critical observation
D. Family businesses plan for succession using a critical-point plan.
27. Regulatory focus is a mix of two internal focuses, _____ focus and _____ focus.
23. Which of the following is one of the most common behaviors found in successful entrepreneurs?
A. effectuation; comprehension
A. Preemption B. comprehension; prevention
B. Frigidness C. effectuation; promotion
C. Personalization D. promotion; prevention
D. Passion
28. About 400,000 new firms a year are started by teams, with about 320,000 started by:
24. Which of the following is best thought of as a type of learned optimism in successful
entrepreneurs?
A. solo entrepreneurs.
B. family teams.
A. Apathy C. unrelated business associates.
B. Professionalization D. five or more team members.
C. Perseverance
D. Cognition
2-4 2-5
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McGraw-Hill Education. McGraw-Hill Education.
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, DOWNLOAD THE Test Bank for Entrepreneurial Small Business 5th Edition DOWNLOAD THE Test Bank for Entrepreneurial Small Business 5th Edition
Katz Katz
29. When starting a business, more women choose ________ industries that tend to have lower average 33. Christopher is a hard-working entrepreneur who looked into all the details of his small gaming
sales levels. software business. He focused on all aspects of the business from the initial launch, promotion,
and marketing aspects to the final set up. He finds planning convenient and works according to a
plan. Christopher is a(n) _____.
A. construction
B. financial
C. technology A. opportunistic planner
D. service B. habit-driven planner
C. reactive planner
30. Which of the following approaches yields better results in an established industry or a poor one? D. comprehensive planner
34. Entrepreneurs who develop plans focused on the most important aspect of the business first are
A. External focus known as _____.
B. Effectuation focus
C. Prevention focus
D. Promotion focus A. critical-point planners
B. opportunistic planners
31. Which of the following approaches yields better results in richer, dynamic, uncertain environments C. comprehensive planners
or industries? D. reactive planners
35. Which among the following is a critical-point planner?
A. Promotion focus
B. External focus
C. Effectuation focus A. Amanda does not have a very long-term approach to planning and she plans only for those
D. Prevention focus business aspects that are of paramount importance.
B. Andrew looks at all aspects of the business, from launch to the complete working of it.
32. Which of the following was not listed as a time management technique in the textbook? C. Cathy looks for a good chance to achieve her goal and acts according to a routine.
D. Joshua acts on what he has been doing and does not believe in planning.
A. 123 Prioritize
B. Delegate
C. Perseverance
D. Strategize
2-6 2-7
Copyright © 2018 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of Copyright © 2018 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw-Hill Education. McGraw-Hill Education.
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Katz
Chapter 02
Small Business Entrepreneurs: Characteristics and Competencies
True / False Questions
1. The majority of new businesses are run by a solo entrepreneur.
True False
2. One way entrepreneurs display passion is by being persistently focused on the business.
True False
3. Opportunistic planners always plan around the most important aspect of the business first, act on
it, and then consider if additional plans are needed.
True False
4. Habit-based planners don't plan, and they don't even tend to react to changes in their
environments.
True False
5. Most businesses run by teams are not family related.
True False
6. Like every person, every small business is unique. There is no way to predict how the company will
progress in the growth process.
True False
2-1
Copyright © 2018 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw-Hill Education.
mynursytest.store
,DOWNLOAD THE Test Bank for Entrepreneurial Small Business 5th Edition DOWNLOAD THE Test Bank for Entrepreneurial Small Business 5th Edition
Katz Katz
7. The competency suggested by exchange relates to the organizational and business processes of a 15. Several models exist for the life cycle of the small business firm. Each divides the stages a bit
firm called basic business competency. differently.
True False True False
8. Skills necessary to identify and exploit elements of the business environment that can lead to a 16. The slowest growing sector of all U.S. businesses is women-owned businesses.
profitable and sustainable business are called opportunity competencies.
True False
True False
17. Access problems for women- and minority-owned small businesses crop up most often as
9. With over 8.3 million businesses owned by women, they account for a quarter of small business discrimination in marketing.
revenue nationally.
True False
True False
18. For corporations, certification for businesses owned by women or minority is handled by
10. Workers are opting for early retirement as corporations merge, downsize, and reorganize. organizations that are not affiliated with the government or big business.
True False True False
11. Entrepreneurs get used to a do-it-yourself approach, which can be especially trying for second 19. About a third of the second career types who return to work decide to become self-employed.
career entrepreneurs.
True False
True False
20. One of the major issues identified for second career entrepreneurs is keeping personal finances
12. Succession plans deal with the people who will take over, what roles they will fill, and what out of the business.
supports they will receive.
True False
True False
13. One way to maximize communication in the succession process is to create a family council.
Multiple Choice Questions
True False
14. In family-owned businesses, the board of directors can only be comprised of family members.
True False
2-2 2-3
Copyright © 2018 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of Copyright © 2018 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw-Hill Education. McGraw-Hill Education.
mynursytest.store mynursytest.store
,DOWNLOAD THE Test Bank for Entrepreneurial Small Business 5th Edition DOWNLOAD THE Test Bank for Entrepreneurial Small Business 5th Edition
Katz Katz
21. This stage of the business life cycle occurs once the firm is established in its market. 25. The majority of businesses run by teams are comprised of:
A. The success stage. A. five or more members.
B. The emergence stage. B. one member.
C. The existence stage. C. three members.
D. The resource maturity stage. D. two members.
22. Which of the following statements concerning family businesses is correct? 26. The problem behavior of trying the same action repeatedly without learning is called _____.
A. Family members often work in the business but may not sit on the council. A. perseveration
B. Family businesses employ about 20 percent of America's total workforce. B. prevention focus
C. Most top managers at family firms tend to stay in their positions much longer than those at C. effectuation
nonfamily firms. D. critical observation
D. Family businesses plan for succession using a critical-point plan.
27. Regulatory focus is a mix of two internal focuses, _____ focus and _____ focus.
23. Which of the following is one of the most common behaviors found in successful entrepreneurs?
A. effectuation; comprehension
A. Preemption B. comprehension; prevention
B. Frigidness C. effectuation; promotion
C. Personalization D. promotion; prevention
D. Passion
28. About 400,000 new firms a year are started by teams, with about 320,000 started by:
24. Which of the following is best thought of as a type of learned optimism in successful
entrepreneurs?
A. solo entrepreneurs.
B. family teams.
A. Apathy C. unrelated business associates.
B. Professionalization D. five or more team members.
C. Perseverance
D. Cognition
2-4 2-5
Copyright © 2018 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of Copyright © 2018 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw-Hill Education. McGraw-Hill Education.
mynursytest.store mynursytest.store
, DOWNLOAD THE Test Bank for Entrepreneurial Small Business 5th Edition DOWNLOAD THE Test Bank for Entrepreneurial Small Business 5th Edition
Katz Katz
29. When starting a business, more women choose ________ industries that tend to have lower average 33. Christopher is a hard-working entrepreneur who looked into all the details of his small gaming
sales levels. software business. He focused on all aspects of the business from the initial launch, promotion,
and marketing aspects to the final set up. He finds planning convenient and works according to a
plan. Christopher is a(n) _____.
A. construction
B. financial
C. technology A. opportunistic planner
D. service B. habit-driven planner
C. reactive planner
30. Which of the following approaches yields better results in an established industry or a poor one? D. comprehensive planner
34. Entrepreneurs who develop plans focused on the most important aspect of the business first are
A. External focus known as _____.
B. Effectuation focus
C. Prevention focus
D. Promotion focus A. critical-point planners
B. opportunistic planners
31. Which of the following approaches yields better results in richer, dynamic, uncertain environments C. comprehensive planners
or industries? D. reactive planners
35. Which among the following is a critical-point planner?
A. Promotion focus
B. External focus
C. Effectuation focus A. Amanda does not have a very long-term approach to planning and she plans only for those
D. Prevention focus business aspects that are of paramount importance.
B. Andrew looks at all aspects of the business, from launch to the complete working of it.
32. Which of the following was not listed as a time management technique in the textbook? C. Cathy looks for a good chance to achieve her goal and acts according to a routine.
D. Joshua acts on what he has been doing and does not believe in planning.
A. 123 Prioritize
B. Delegate
C. Perseverance
D. Strategize
2-6 2-7
Copyright © 2018 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of Copyright © 2018 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw-Hill Education. McGraw-Hill Education.
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