Ba101 midterm 3 || 100% Valid Answers.
venture capitalists correct answers Individuals or companies that invest in new businesses in
exchange for partial ownership of those businesses.
Small Business Administration (SBA) correct answers a U.S. government agency that advises
and assists small businesses by providing management training and financial advice and loans
buy correct answers One of the most important elements of small-business success is knowing
the market, which consists of consumers with unsatisfied wants and needs who have both
resources and willingness to
apprentice correct answers an ______ is hired to assist the owner of a small business while
gaining experience
be a step in buying out the owner correct answers working in a successful business is a good way
to learn the operations and could:
finding and retaining good workers is hard, hire a good lawyer and accountant, and start with
enough money correct answers Some things you may be told when starting a small business is:
Who created amazon, Avon, Kodak, Starbucks, and Facebook correct answers Amazon-Jeff
Bezos
Avon-David McConnell
Kodak-George Eastman
Starbucks-Howard Schultz
Facebook-Mark Zuckerberg
Intrapreneur correct answers ________ are creative people who work as entrepreneurs with
corporations
small business correct answers one that is independently owned and operated, is not dominant in
its field of operation, and meets certain standards of size in terms of employees or annual
receipts (such as under $2.5 million a year for service businesses)
Micropreneurs correct answers entrepreneurs willing to accept the risk of starting and managing
the type of business that remains small, lets them do the kind of work they want to do, and offers
them a balanced lifestyle
incubator correct answers offer new businesses in the critical stage of early development low-
cost offices with basic services such as accounting, legal advice, and secretarial help.
a business plan is a detailed statement that describes correct answers the recourses and
qualifications of its owners and the target market
, An entrepreneur has several potential sources of ____________: personal savings; family and
business associates; banks and finance institutions; angels, crowdfunding, and venture capitalists;
and government agencies such as the Small Business Administration (SBA), the Farmers Home
Administration, the Economic Development Authority, and the Minority Business Development
Agency.30 correct answers capital
what are characteristics of an entrepreneurial team that will be developing and making a new
product? correct answers each form different areas of business, members have complimentary
skills and are creative, and a group of experienced people
entrepreneurial team correct answers a group of experienced people from different areas of
business who join to form a managerial team with the skills to develop, make, and market a new
product.
entrepreneurial attributes include correct answers self-directed, self-nurturing, action-orientated,
highly energetic, tolerant of uncertainty
Entreprenuership correct answers refers to accepting the risk of starting and running a business
Brainstorming correct answers coming up with as many solutions as possible in a short period of
time with no censoring of ideas.
goals correct answers the broad, long-term accomplishments an organization wishes to attain.
objectives correct answers specific, short-term statements detailing how to achieve the
organization's goals.
Strategic Planning correct answers done by top management and determines the major goals of
the organization and the policies, procedures, strategies, and resources it will need to achieve
them.
tactical plans correct answers Managers or teams of managers at lower levels of the organization
normally make ________________
problem solving correct answers less formal than decision making and usually calls for quicker
action to resolve everyday issues.
Brainstorming correct answers coming up with as many solutions as possible in a short period of
time with no censoring of ideas.
decision making correct answers is choosing among two or more alternatives, which sounds
easier than it is.
internal customers correct answers are individuals and units within the firm that receive services
from other individuals or units.
venture capitalists correct answers Individuals or companies that invest in new businesses in
exchange for partial ownership of those businesses.
Small Business Administration (SBA) correct answers a U.S. government agency that advises
and assists small businesses by providing management training and financial advice and loans
buy correct answers One of the most important elements of small-business success is knowing
the market, which consists of consumers with unsatisfied wants and needs who have both
resources and willingness to
apprentice correct answers an ______ is hired to assist the owner of a small business while
gaining experience
be a step in buying out the owner correct answers working in a successful business is a good way
to learn the operations and could:
finding and retaining good workers is hard, hire a good lawyer and accountant, and start with
enough money correct answers Some things you may be told when starting a small business is:
Who created amazon, Avon, Kodak, Starbucks, and Facebook correct answers Amazon-Jeff
Bezos
Avon-David McConnell
Kodak-George Eastman
Starbucks-Howard Schultz
Facebook-Mark Zuckerberg
Intrapreneur correct answers ________ are creative people who work as entrepreneurs with
corporations
small business correct answers one that is independently owned and operated, is not dominant in
its field of operation, and meets certain standards of size in terms of employees or annual
receipts (such as under $2.5 million a year for service businesses)
Micropreneurs correct answers entrepreneurs willing to accept the risk of starting and managing
the type of business that remains small, lets them do the kind of work they want to do, and offers
them a balanced lifestyle
incubator correct answers offer new businesses in the critical stage of early development low-
cost offices with basic services such as accounting, legal advice, and secretarial help.
a business plan is a detailed statement that describes correct answers the recourses and
qualifications of its owners and the target market
, An entrepreneur has several potential sources of ____________: personal savings; family and
business associates; banks and finance institutions; angels, crowdfunding, and venture capitalists;
and government agencies such as the Small Business Administration (SBA), the Farmers Home
Administration, the Economic Development Authority, and the Minority Business Development
Agency.30 correct answers capital
what are characteristics of an entrepreneurial team that will be developing and making a new
product? correct answers each form different areas of business, members have complimentary
skills and are creative, and a group of experienced people
entrepreneurial team correct answers a group of experienced people from different areas of
business who join to form a managerial team with the skills to develop, make, and market a new
product.
entrepreneurial attributes include correct answers self-directed, self-nurturing, action-orientated,
highly energetic, tolerant of uncertainty
Entreprenuership correct answers refers to accepting the risk of starting and running a business
Brainstorming correct answers coming up with as many solutions as possible in a short period of
time with no censoring of ideas.
goals correct answers the broad, long-term accomplishments an organization wishes to attain.
objectives correct answers specific, short-term statements detailing how to achieve the
organization's goals.
Strategic Planning correct answers done by top management and determines the major goals of
the organization and the policies, procedures, strategies, and resources it will need to achieve
them.
tactical plans correct answers Managers or teams of managers at lower levels of the organization
normally make ________________
problem solving correct answers less formal than decision making and usually calls for quicker
action to resolve everyday issues.
Brainstorming correct answers coming up with as many solutions as possible in a short period of
time with no censoring of ideas.
decision making correct answers is choosing among two or more alternatives, which sounds
easier than it is.
internal customers correct answers are individuals and units within the firm that receive services
from other individuals or units.
