FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 6: Entrepreneurship and Starting a Small Business

Show Answer

Share

---

All types

Filters

Study Flashcards

Question 61

True/False

Review LaterAdd Note

Review Later

Getting a business plan into the hands of the right people is nearly as important as getting the right information in the plan.

A) True
B) False

Correct Answer

verified

Show Answer

Question 62

True/False

Review LaterAdd Note

Review Later

The entrepreneur's integrity is not relevant to bankers when determining the creditworthiness of a business loan.

A) True
B) False

Correct Answer

verified

Show Answer

Question 63

Multiple Choice

Review LaterAdd Note

Due to the credit crunch during the recent recession, many small businesses found that _____________ were more willing to lend money to smaller operations

Mini-Case Peppy Roaney believes that pizza is a much more versatile dish than most people realize. As the national marketing manager for Pizza Guys, he observed how consumers were delighted with barbecue pizza, Hawaiian pizza, Mexican pizza and other unique combinations. His suggestions for other unusual pizzas, however, were met with a negative response by his superiors. Even some of his colleagues laughed at his ideas. Peppy's confidence in his ability to understand the market has led him to focus on planning a business of his own. Peppy realizes that he will take a risk when he leaves his job with Pizza Guys and embarks upon a new venture: Peppy's Pizzazzeria. Peppy is excited about the potential of profitably catering to the unmet desires of pizza consumers. -Peppy is confident that Peppy's Pizzazzeria will be a success, but only if he has enough money to do things right. Since Peppy has very little personal wealth, he knows he must obtain financial assistance. In order prepare for meetings with bankers and potential investors, Peppy should:

As a high net worth individual, Allison searches for growth firms in need of additional funding to achieve their goals. In return for this ____________, Allison expects to assume ownership in the business

When writing a business plan, prospective entrepreneurs should remember to omit details regarding their experience and education since investors are only interested in the proposed business.

Employees of small businesses often have greater job satisfaction than do employees of larger firms. One reason for this difference in job satisfaction is that employees of small businesses often:

According to the Spotlight on Small Business box, people between 16 to 34 years old are not attracted to starting their own business.

Mini-Case Peppy Roaney believes that pizza is a much more versatile dish than most people realize. As the national marketing manager for Pizza Guys, he observed how consumers were delighted with barbecue pizza, Hawaiian pizza, Mexican pizza and other unique combinations. His suggestions for other unusual pizzas, however, were met with a negative response by his superiors. Even some of his colleagues laughed at his ideas. Peppy's confidence in his ability to understand the market has led him to focus on planning a business of his own. Peppy realizes that he will take a risk when he leaves his job with Pizza Guys and embarks upon a new venture: Peppy's Pizzazzeria. Peppy is excited about the potential of profitably catering to the unmet desires of pizza consumers. -As a former classmate of Peppy's at the nearby university, you remind him what you both learned in your small business management class several years ago:

After personal savings, the next largest source of capital for entrepreneurs is from:

Kyra 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 at the chance to be independent and by the challenges of running her own firm. Kyra is an example of a(n) :

From a competitive standpoint, small businesses cannot expect to successfully compete with large corporations in international markets.

There are several ethical considerations when starting a business, but competing against current and former work relationships is always fair game.

Bankers and investors require entrepreneurs to present a well-conceived business plan.

The SBA's ________ program provides export-financing opportunities for small businesses

________ are private individuals who invest their own money in potentially hot new companies before these firms become larger, publicly traded companies

Jayne started a small bakery in a resort town. She was certain she had the ideal location, with plenty of hotels and inns within walking distance of her establishment. She planned to use her grandmother's recipes, using only the finest ingredients for her upscale resort customers. During the first week of business, she was disappointed with lackluster sales. When she drove past the regular breakfast-style restaurants and even the Starbucks, she noticed they were rather bustling. Jayne most likely:

To be successful, entrepreneurs are dependent on the support of others for encouragement.

Entrepreneurs are less important now than in the past to the U.S. economy.

A good business plan will: