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Exam 7: Entrepreneurship and Starting a Small Business

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Question 21

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Large organizations encourage intrapreneurship as a strategy to improve their profitability through new products.

A) True
B) False

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Question 22

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Your brother,a family dentist,has opened a new office in your home town.As a business student you know that this type of business experiences both low failure and growth rates.

A) True
B) False

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Question 23

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Conversations with small business owners before you start your own business are:

The best way to learn about small business is to start your own.

Justin feels that his family run business will be more likely to avoid the problems many growing businesses have with managing employees.

Business incubators provide assistance to established companies attempting to generate foreign sales.

Rockdale College has received a government grant to establish a business incubator.This facility will offer:

The principles of managing vary according to the size of the business.

As a prospective entrepreneur,Gregory benefited from his experience working for an established florist.He now feels that he is ready to start his own shop,but he lacks the necessary capital.Which of the following would best help Gregory achieve his goal of business ownership?

Creative people working as entrepreneurs within a large organization are called intrapreneurs.

A(n) ________is a valuable source of information regarding techniques to reduce a firm's exposure to risk.

Working at home has its challenges.In setting up a home-based business,what kinds of major challenges could you expect?

Advancements in computer and communications technology has put home-based businesses at a disadvantage.

An intrapreneur is the creative person who starts and manages a nonprofit organization.

A firm or individual providing financial capital to small businesses in exchange for an ownership stake in the company is called a:

Web-based businesses avoid the risk of failure faced by traditional startup businesses.

A creative person working within a corporation to launch new products and generate new profits is known as a(n) :

Kayla recently quit a job with a large corporation to start her own business.While she realizes that her decision comes with risk,she is excited by the chance to be independent and the challenges of running her own firm.Kayla is an example of a(n) :

What advantages do small businesses have over large businesses in international trade?

Many entrepreneurs got the idea for their own business from their experience of working for others.