11 Jan The small firm’s “master

• Question 1

2 out of 2 points

Surveys show that owners of small businesses believe that:

• Question 2

2 out of 2 points

Companies started by women differ from companies started by men in that:

• Question 3

2 out of 2 points

Which of the following corporate trends have contributed to the growth of entrepreneurship?

• Question 4

2 out of 2 points

Customer service, convenience, speed and quality are all examples of:

• Question 5

2 out of 2 points

Launching and running a business can be an extremely rewarding experience, but it also can:

• Question 6

2 out of 2 points

One key to success with a business startup is to begin with enough ________:

• Question 7

2 out of 2 points

When running a home-based business:

• Question 8

2 out of 2 points

Kyoto has started an interior decoration business. Everything about the business, from its name to the color schemes used in the corporate letterhead, is an expression of her personality. She sees this business as her greatest personal achievement. Kyoto is experiencing the opportunity ________ of small business ownership.

• Question 9

2 out of 2 points

Which of the following trends is feeding the growth of entrepreneurial activity?

• Question 10

2 out of 2 points

“Copreneurs” are marked by:

• Question 11

2 out of 2 points

Juan is able to work well in a constantly changing atmosphere and has little concern for what tomorrow will bring. Juan demonstrates which of the following characteristics of a typical entrepreneur?

• Question 12

2 out of 2 points

The key ingredient-the crucial element-to avoiding the failure of a new business is:

• Question 13

2 out of 2 points

When building a home-based business, it is important that the entrepreneur:

• Question 14

2 out of 2 points

Primary cause of business failure is:

• Question 15

2 out of 2 points

Researchers who study entrepreneurs have discovered that:

• Question 16

2 out of 2 points

A small company following a ________ strategy seeks to build customer loyalty by positioning its goods and services in a unique fashion.

• Question 17

2 out of 2 points

________ are specific measurable targets to be accomplished in a defined time period.

• Question 18

2 out of 2 points

Which of the following best expresses the relationship of a company vision to its mission?

• Question 19

2 out of 2 points

A small business’s “aggregation of factors that sets it apart from its competitors” is its:

• Question 20

2 out of 2 points

The final step of the strategic planning process is:

• Question 21

2 out of 2 points

Small firms pursuing a cost leadership strategy have an advantage in reaching customers whose primary purchase criterion is:

• Question 22

2 out of 2 points

When the small business owner assesses her company’s strengths and weaknesses, she is dealing with the ________ business environment.

• Question 23

2 out of 2 points

________ focuses everyone’s attention and efforts on the same target market. It is an expression of what the owner believes in.

• Question 24

2 out of 2 points

These are products of the interaction of various forces, trends, and events that are outside the control of the small business.

• Question 25

2 out of 2 points

The strategic planning process for small businesses is:

• Question 26

2 out of 2 points

How is the strategic planning process for small companies different from that for large companies?

• Question 27

2 out of 2 points

________ are negative internal factors that inhibit the accomplishment of a firm’s objectives.

• Question 28

2 out of 2 points

________ are the broad, long-range attributes the small business seeks to accomplish; ________ are the specific, measurable milestones the company wants to achieve.

• Question 29

2 out of 2 points

The small firm’s “master plan” is its:

• Question 30

2 out of 2 points

________ are positive internal factors that contribute towards accomplishing the company’s objectives.