Bus 508/Bus508 week 5 Chapter 8 Practice Quiz - 93750

Solution Posted by
anjis_devis

anjis_devis

Rating : (20)B
Solution Detail
Price: $14.00
  • From: Business, Business
  • Posted on: Thu 15 Oct, 2015
  • Request id: None
  • Purchased: 0 time(s)
  • Average Rating: No rating
Request Description
Question 1 Collin works for a large bank that recently merged with another financial institution. Word of layoffs has been discussed. Collin is most likely to become an entrepreneur in order to ________. Answer become his own boss obtain job security succeed financially improve his quality of life Question 2 Which of the following persons is LEAST likely to become an entrepreneur? Answer An intelligent person An inquisitive person A flexible person A calm, low-energy person Question 3 Former CEO George Buckley believes that the key to supporting intrapreneurship is the willingness to allocate________. Answer targeted employment area and investments time and money workers and investments space and programs Question 4 All of the following are major advantages of buying an existing business over starting a new business EXCEPT: Answer obtaining financing is often easier. less risk is involved. product or service is not known in the marketplace. existing suppliers and employees are in place. Question 5 Franz and Arlene had an idea for a different type of ice cream. They struggled to open their own small business, and later, to expand production and distribution. Their products are distributed nationwide and their sales continue to increase. Franz and Arlene are examples of ________. Answer serial entrepreneurs classic entrepreneurs change agents social entrepreneurs Question 6 After starting a web design company while still in college, Rodrigo sold the company after graduation. He then opened a computer repair shop; and most recently, he has started a marketing firm that specializes in social media. Rodrigo is an example of a(n): Answer serial entrepreneur. social entrepreneur. lifestyle entrepreneur. classic entrepreneur. Question 7 What makes entrepreneurs unique is their overwhelming desire to ________. Answer become successful utilize their creative energy manage employees make their business grow Question 8 Paterno routinely bids on contracts even though most of the other bidders are extremely large firms. Paterno believes his company offers better service at lower prices. He is exhibiting which personality trait common in entrepreneurs? Answer creativity tolerance for failure high energy level self-confidence Question 9 If you are considering starting your own business, a key priority for you should be to: Answer get a loan from your local bank incorporate your business. learn the basics of business. apply for a Small Business Administration loan. Question 10 The ________ industry represents the greatest percentage of minority-owned businesses. Answer Finance Service Retail Transportation Question 11 The two principal parties in a franchising agreement are the ________. Answer manager and worker franchiser and partners franchiser and franchisee venture capitalist and SBA Question 12 Many businesses fail during the early years because of ________. Answer niche marketers inadequate financing unmotivated owners poor planning Question 13 Although the average farm size has increased in recent years the majority of farmers operate as ________ businesses. Answer Government owned Large Partnership Small Question 14 The majority of all U.S. firms employ: Answer more than 5,000 employees 1,000 to 3,000 employees 3,000 to 5,000 employees 500 or fewer employees Question 15 For its favorable legal climate, as well as the ease and simplicity of its incorporation process, ________ is the most popular state of incorporation for many members of the Fortune 500. Answer Delaware New York California Florida Question 16 Which of the following is the leading cause of today's small business failures? Answer management shortcomings poor products and/or services no marketing plan excess government regulation Question 17 The Foreign Corrupt Practices Act: Answer prescribes fines and jail times for U.S. managers who are aware of bribe activity funds projects that build or expand a nation’s infrastructure mediates trade disputes among trade agreement member nations promotes trade through financial cooperation Question 18 When firms develop products and marketing strategies that appeal to the customer tastes and buying habits of particular national markets, they are using a ________. Answer global strategy free trade strategy uniform strategy multidomestic strategy Question 19 Which of the following is the first step in the decision for a business to expand globally? Answer determining which foreign markets to enter determining how much it will cost to enter a new market deciding how to organize the overseas operations applying for special export credits Question 20 During the past decade, the value of U.S. imports and exports has ________. Answer Decreased remained about the same more than doubled risen slightly
Solution Description

Question 1

Collin works for a large bank that recently merged with another financial institution. Word of layoffs has been discussed. Collin is most likely to become an entrepreneur in order to ________.

Answer

become his own boss

obtain job security

succeed financially

improve his quality of life

Question 2

 Which of the following persons is LEAST likely to become an entrepreneur?

Answer

An intelligent person

An inquisitive person

A flexible person

A calm, low-energy person

Question 3

Former CEO George Buckley believes that the key to supporting intrapreneurship is the willingness to allocate________.

Answer

targeted employment area and investments

time and money

workers and investments

space and programs

Question 4

All of the following are major advantages of buying an existing business over starting a new business EXCEPT:

Answer

obtaining financing is often easier.

less risk is involved.

product or service is not known in the marketpl

Attachments
Bus_508_week_5_CHAPTER_8_PRACTICE_QUIZ.docx
Bus_508_week_5_...