answer the multiple choice questions giving one reason for each question.IT shou
ID: 329492 • Letter: A
Question
answer the multiple choice questions giving one reason for each question.IT should be like answer and reason why you selected that option.
1.The number one reason that people become entrepreneurs is to:
realize financial rewards
reduce the risk in their lives
be their own boss
capture more of the spotlight
pursue their own ideas
2.Kate Saunders is starting a firm in the fashion industry primarily to pursue financial rewards. Starting a business to make a lot of money:
often fails to live up to its hype
is equally as satisfying as other reasons for starting a business
is the number one reason people start their own business
is the number two reason that people start their own business, right behind the lack of better career prospects
does not rank among the top three reasons that people start their own business
3.The three types of startup firms are:
lifestyle firms, general firms, and entrepreneurial firms
standard-of-living firms, statutory firms, and general firms
entrepreneurial firms, standard-of-living firms, and statutory firms
lifestyle firms, salary-substitute firms, and entrepreneurial firms
innovative firms, entrepreneurial firms, and standard firms
4.Entrepreneurship has historically had:
major impact on the economy and minor impact on society
minor impact on both the economy and society
major impact on society and minor impact on the economy
major impact on both the economy and society
no impact on either the economy or society
5.Which of the following is not one of the four steps of the entrepreneurial process?
deciding to become an entrepreneur
determining how to seize the spotlight
developing successful business ideas
moving from an idea to an entrepreneurial firm
managing and growing the entrepreneurial firm
6.Opportunities are:
tough to spot
easy to spot in the service sector but tough to spot in the manufacturing sector
easy to spot in the manufacturing sector but tough to spot in the service sector
easy to spot
neither easy nor tough to spot
7.A(n) ________ is a thought, impression, or notion. A(n) ________ is a favorable set of circumstances that creates the need for a new product, service, or business.
scheme, notion
opportunity, idea
idea, design
idea, opportunity
notion, scheme
8.Which of the following is not an example of a social force?
changes in interest rates
increased interest in healthy foods
retirement of baby boomers
increased diversity of the workforce
increased interest in green products
9.The process of perceiving the possibility of a profitable new business, product or service idea is referred to as:
inspired detection
creative recognition
idea confirmation
opportunity recognition
inspired discovery
10.A network entrepreneur is an individual who identifies his or her business idea:
on their own
through the assistance of a paid consultant
through social contacts
with one or more partners
through a business incubator program
11.________ is the process of generating a novel or useful idea.
Innovation
Imagining
Creativity
Visualization
Envisioning
12.Which of the following is not one of the rules for a formal brainstorming session?
no criticism is allowed
the session moves quickly
freewheeling is encouraged
leapfrogging is encouraged
the session is used for decision making
13.Primary research is:
original research and is collected by the entrepreneur
research that is already collected and is available online
research that is stored in an official government depository
research that is collected by an impartial third party
research that is collected by an industry trade association
14.A ________ involves showing a preliminary description of a product or service idea to prospective customers to gauge customer interest, desirability, and purchase intent.
concept test
product/service statement
impression test
idea prospectus
idea test
15.A(n) ________ is a group of firms producing a similar product or service. A firm's ________ is the limited portion of the industry that it goes after or to which it wants to appeal.
target market, industry
trade group, industry
industry, trade group
competitive group, target market
industry, target market
16.________ feasibility analysis is an assessment of the overall appeal of the industry and market for the product or service being proposed.
Institutional
Financial
Organizational
Product/service
Industry/target market
17.A(n) ________ is the group of founders, key employees, and advisers that either manage or help manage a new business in its start-up years.
opening team
entrepreneurial team
scout team
launch team
new venture team
18.The most important issues to consider in financial feasibility analysis are: financial performance of similar businesses, overall financial attractiveness of the proposed venture, and:
identification of a niche market
market timeliness
management prowess
total start-up cash needed
concept testing
19.The document that does the best job of introducing potential investors and other stakeholders with the business opportunity the firm is pursuing and how it plans to pursue it is the:
business plan
feasibility analysis
opportunity analysis
industry analysis
marketing plan
20.Most business plan writers interpret or make sense of a firm's historical and/or pro form financial statements through:
ratio analysis
assumptions analysis
scenario analysis
proportion analysis
relative analysis
In the first meeting investors typically focus on whether the management team has the skills and experience to pull off the venture and:
whether the new venture is properly structured
whether the new venture has intellectual property
legal and tax issues
whether a real opportunity exists
industry and competitor analysis
If a start-up pioneers an industry or a new concept within an industry, the name recognition the start-up establishes may create a formidable nontraditional barrier to entry referred to as a:
unique business model
aggressive supremacy
competitive superiority
first-mover advantage
aggressive tactical advantage
A ________ industry is an industry that is experiencing significant international sales.
global
mature
fragmented
declining
emerging
The three different types of competitors a business will face are direct competitors, indirect competitors, and:
future competitors
nonstop competitors
occasional competitors
fragmented competitors
irregular competitors
A ________ is a firm's plan or diagram for how it competes, uses its resources, structures its relationships, interfaces with customers, and creates value to sustain itself on the basis of the profits it earns.
feasibility model
business model
strategic plan
business plan
competitive model
Which of the following is not one of the components of a firm's business model?
core strategy
strategic resources
partnership network
business plan
customer interface
A ________ is a resource or capability that serves as a source of a firm's competitive advantage over its rivals.
foundational competency
core competency
distinctive attribute
center attribute
core element
The single most important thing the founders of an entrepreneurial venture can do is:
start a board of advisors
establish business partnerships
make money
select a limited liability corporate opposed to an S-corporation
establish a strong ethical culture for their firms
A ________ details the responsibilities and the ownership shares of the partners involved with an organization.
partnership agreement
industry contract
business pledge
business agreement
partnership pledge
Large firms like 3M, Google, Oracle, and Microsoft, that trade on organized stock exchanges, are:
limited partnerships
limited liability companies
subchapter S corporations
C corporations
general partnerships
Which of the following was not identified as one of the four main financial objectives of a firm?
stability
efficiency
timeliness
liquidity
profitability
A firm's ________ reflects the results of its operations over a specified period and shows whether it is making a profit or is experiencing a loss.
statement of cash flows
income statement
forecast
balance sheet
operating budget
A firm's working capital is its:
inventory and accounts receivable minus its current liabilities
current assets minus its current liabilities
total assets minus its total liabilities
cash and cash equivalents minus its current liabilities
accounts receivable minus its total accounts payable
A firm's pro forma financial statements are similar to its historical financial statements except that:
they do not include the income statement
they are required by the SEC in all cases
they look back rather than forward
they look forward rather than back
they do not include the statement of cash flows
The process of building and maintaining relationships with people whose interests are similar or whose relationship could bring advantages to the firm is called:
linking
socializing
networking
associating
connecting
B 1 u.dxx, x'i A-?·A- t-. a.-. | 1 Normal ter Tale 1 No Spae.. Heeding 1 Heading 2 Subtitle S bte, foghas Paragraph Styles A) is a thought, impression, or notion cieconstances that creates the need for a new peodact, service, or bunisess Aino- -?"favorable "d HEET HERE in pk Thank you A) scheme, noton The mber one reason than people become entrepreneurs is to B) opportunity, ides C) iden, design A) realize financial rewards B) reduce the risk in their linves C) be their own bod D) capture more o E) pursue their own D) ides, epportunity BOtion, scheme s Whach of the Solloning is not s exmple of ssocial fonce? A) changes is interest B) incressed interest in bealthy foods C) retiresent of baby boomers D) increased diverity of the workforce E) incressed interest in green prodacts 2. Kate Saunders is starting a firm in the fashion industry primarily to pavor Starting a Iusiness to make a lot of money A) ohen fails to live up to its hype B) is equally as satisfying as other reasons for tarting abuniness C) is the mumber one reasos people stant their own business D) is the number two reason that people start their own business, righa behind the lack of better career proapects E) does not rank among the top turee resons than people stant tonr o businss A) inspired detection B) ceative recogpon D) opportunty recognition J. The dwee types of tartup firms are A) lidestyle farms,general firma, and estrepreneurial fi B) standard-of-living frma, stenatory firms, and gmeral firm 10. A network eatepreneur in an individual who identifies his or her business idea D) lifestyle firms, salary substitute firms, and entrepeeneurial firma E) innovative firms, estrepreneurial firma, and standard firms A) on theu own B) though the assinance of a paid consslian C) through social conacts 4. Entrepreneurship has hustorically had D) with at mcee partners E) trough a buiness incubator progpan A) major impact ois the economy and manor impact on society B) minor inpact on both the economy and society C) major impact on society and minor impact on the econonny D) major impact on both the econoeny and society E) no impact on either the econoany or society D) Vaualization 5. Which of the following is not one of the four steps of the estsepresrurial process? A) deciding to becoese an entrepreneur B) determining how to seize the spotlight C) developing successtal business ideas D) moving froas an idea to an entrepreneurial Em E) macaiine and rowina the 12 Which of the following is not one of the rules for a formal beninstoening session? A) no criticism is allowed B) the session moves quickly frmExplanation / Answer
be their own boss- because people like to take the ownership and responsibility of leadership, which they are not always either allowed or able to take it. is the number one reason people start their own business- because in fashion industry most of the job seekers at some stage find the monetary rewards of doing a self employed business is far more rewarding compared to a salary job. It is highly lucrative industry innovative firms, entrepreneurial firms, and standard firms- many firms continue the business category with same products as MSME or SMEs level, where as many drive some new business of products and product category launch as entrepreneurial firms. Innovative firms have a good pool today with new technologies to show to the world example analytics, IOT etc. major impact on both the economy and society - because they may start from small or mid size firms benefiting people as employees for their revenue and serving country with many diverse products in volume, then entrepreneurs also do grow into large enterprises and conglomerates, contributing to GDP of a country in terms of volume
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.