08 Jan At the breakeven point,

MBA6710 Entrepreneurial Organizations & Small Businesses

Week 1 Knowledge Check

Question 1

Being creative seems to be a major characteristic that entrepreneurs have in common.

Question 1 options:

True

False

Question 2

A true entrepreneur thinks outside the box and often has started their dreams as home-based businesses.

Question 2 options:

True

False

Question 3

Many entrepreneurs who are naturally creative chose not to pursue higher education.

Question 3 options:

True

False

Question 4

In most cases, entrepreneurs are not looking for status; they just have a vision or a dream that they want to pursue.

Question 4 options:

True

False

Question 5

Most entrepreneurs don’t know why or how to write a business plan.

Question 5 options:

True

False

MBA6710 Entrepreneurial Organizations & Small Businesses

Week 2 Knowledge Check

Question 1

Just saying “I want to make a lot of money” is really not a good purpose for starting a specific business.

Question 1 options:

True

False

Question 2

Being the first to offer a particular product or service assures business success.

Question 2 options:

True

False

Question 3

In the late 1970s, K-Mart tried to offer food in its retail store locations, but at that time, the results suggested consumers were not ready to buy everything in one store.

Question 3 options:

True

False

Question 4

There are many ways to acquire information about the desires and likes of a consumer.

Question 4 options:

True

False

Question 5

Small businesses and entrepreneurs both search for a competitive advantage as they create and offer a product or service.

Question 5 options:

True

False

MBA6710 Entrepreneurial Organizations & Small Businesses

Week 3 Knowledge Check

Question 1 (1 point)

When you start a business, you need to create a written document that will guide you in the development of the new venture.

Question 1 options:

True

False

Question 2 (1 point)

All small business owners and entrepreneurs start their businesses with a business plan.

Question 2 options:

True

False

Question 3 (1 point)

A business plan is a “living” document, which means it will not need to be revised in the future.

Question 3 options:

True

False

Question 4 (1 point)

It is best to work purchase a standardized, prewritten plan rather than to write your own business plan.

Question 4 options:

True

False

Question 5 (1 point)

It is important to remember that a business plan should not be so long that people lose interest in reading it.

Question 5 options:

True

False

MBA6710 Entrepreneurial Organizations & Small Businesses

Week 4 Knowledge Check

Question 1 (1 point)

Marketing is the intentional and thorough process of finding out what customers want.

Question 1 options:

True

False

Question 2 (1 point)

When analyzing issues such as market segmentation, branding, intellectual property, and franchising, one of the MOST important is the research and analysis required to define a target market for your product/service.

Question 2 options:

True

False

Question 3 (1 point)

Submitting noteworthy events (e.g., a new acquisition, employee promotion, or a new product or location) to local newspapers can be an inexpensive way to promote an organization.

Question 3 options:

True

False

Question 4 (1 point)

The main function of coupons is to encourage consumers to choose a particular product over another or to encourage new consumers to try the product.

Question 4 options:

True

False

Question 5 (1 point)

Human capital is critical to the success of any organization whether larger or small.

Question 5 options:

True

False

MBA6710 Entrepreneurial Organizations & Small Businesses

Week 5 Knowledge Check

Question 1 (1 point)

Cash flow reflects the relative movement of money into or out of the business.

Question 1 options:

True

False

Question 2 (1 point)

A pro forma financial statement is a document used by a start-up organization to provide a realistic idea of its financial condition as it seeks funding.

Question 2 options:

True

False

Question 3 (1 point)

From the balance sheet and the income statement, it is possible to analyze ratios.

Question 3 options:

True

False

Question 4 (1 point)

The industry standards that categorize comparative ratios for different businesses are a decisive way for investors to analyze the health of a business.

Question 4 options:

True

False

Question 5 (1 point)

At the breakeven point, the sales equal the total costs of an organization.

Question 5 options:

True

False