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Examine essential entrepreneurship information, including startup strategies and innovation insights, to boost your business aspirations with knowledge.
A business owner should never change its mission statement or strategy.
People who own, operate, and take risk of a business venture
What are the two critical stages a venture idea must pass through? (Article)
____________ is (are) a brief statement that summarizes how and where the firm will compete in the industry.
What is market positioning?
What is bootstrapping in entrepreneurship?
Which definitions among presented below you may refer to Strategic Entrepreneurship? (more than one answer is possible):
The mission statement and strategies can be developed after identifying potential customers.
________________________ decides what needs to be done and how it will be accomplished (EN,BC,1,2,3,4,5,6,7,8)
One major aspect of a small business plan, it allows the owner to put information down in writing allowing for evaluation and honest analysis.
Small business is the foundation for all businesses.
What are the main indicators that a project got a venture status (Burgelman, 1983):
New businesses are more likely to be successful when an entrepreneur creates a product or service before there is a need in the marketplace.
A corporate venture plan is sometimes referred to as a:
The mission of a business needs to be actionable, which means assist employees to make decisions.
What is a niche product?
What is a business accelerator?
A group of people brought together to discuss a specific topic. Usually consist of 6-9 people (ENT MR 1,2,3,4,5,6,7,8,9,10,11,12,13)
______________ demonstrates how easy it is for a customer to switch to substitutes.
What is NOT true about public relations? (ENT MP 1,2,3,4,5,6,7,8,9,10,11,12,13)
The Entrepreneurial Project Development Framework provides three different internal channels or structural mechanisms listed below, except:
A customer of a small business could be considered an important stakeholder to the success of a company.
What is 5% of 20? (EN,BM, 1,2,3,4,5,6,7)
money that is left over after all expenses of running a business have been deducted from the income
Consumer Promotions are intended to build brand awareness. (ENT MP 1,2,3,4,5,6,7,8,9,10,11,12,13)
The decision to act entrepreneurially occurs as a result of interactions among organizational characteristics, individual characteristics and some kind of precipitating event, also known as triggers. Those can be grouped into five key ways. Which of the following aspects is not included?
According to Cohen (2002), which of the following is/are required for successful practices of corporate entrepreneurship?
There are many conflicting findings about characteristics associated with an entrepreneurial individual. However, consensus has been achieved on 6 characteristics. What are they?
Entrepreneurs are motivated by _________. (EN ES 1)
What can be defined as an attractive project idea which an entrepreneur accepts as a basis for his investment decision? (EN ES 1)
What kind of innovation is referred to as a "dramatic improvement over the existing state-of-the-art solution? (Chapter 3)
Which is not a function of management (EN,BC,1,2,3,4,5,6,7,8)
According to the 'Entrepreneurial Grid' explained in the book of Morris, Kuratko and Covin (2011), which of the following correspond to the Periodic/Discontinuous Entrepreneurial Intensity?
What is a focus group in market research?
A product, service, business model, or strategy that's both new and useful
Which of the following is an example of a fixed cost for a business?
HR & Block tax service is an example of which type of business?
Which one is NOT a step in the problem solving method?
Which one of the following is not a typical question dealt with by an operations managers? (ENT POM 1,2,3,4,5,6,7,8,9,10,11,12,13,14,15)
What is affiliate marketing?
Additional information that may be needed about the business venture is often included in what section of a business plan?
Which of the following statements concerning the Key Strategic Concepts is NOT correct:
a new business undertaking that involves risk
There are three stage-gates in the process for innovation projects. Two of these are: the definition stage and the commercialization stage. What is the third stage?
Below are the powerful forces shaping the new landscape according to Hitt and Reed (2000), Bettis and Hitt (1995), except:
What is NOT an example of public relations? (ENT MP 1,2,3,4,5,6,7,8,9,10,11,12,13)
What is a competitive advantage in business?
IPR stands for? (EN ES 1)
Which are the six entrepreneurial activities of middle-level managers?
What kind of purpose does a NPO has?
_____________ provides you with the opportunity to make money when other businesses cannot easily copy your advantages.
What is viral marketing?
The 'empowerment as entitlement' is a core rigidity within one of the following four dimensions (Leonard-Barton, 1992). Which is that dimension?
The skewing of results caused by the order in which questions are placed in a survey. It happens if answer choices for questions are not rotated among all surveys given. (ENT MR 1,2,3,4,5,6,7,8,9,10,11,12,13)
Which one is NOT a dimension of knowledge set that distinguishes and provides a competitive advantage according to Leonard-Barton (1992)?
________ costs are costs to a business, such as rent, that are constant whatever the quantity of goods or services produced.Fill in the blank from the word bank.Word Bank: Variable, Fixed, Simple, Normal
A(n) ___________ is an agreement between two parties to perform certain activities for some consideration.
What is venture capital?
Which one does NOT belongs to the specific reasons of Leveraging motives
Which of the following is NOT an advantage of entrepreneurship?
The potential entrepreneur needs to consider ____________ when starting a new business.
Costs incurred by a business for property or equipment are considered what kind of costs?
Below are the areas concerning of ethics in businesses, EXCEPT? (EN E 1,2,3,4)
Many new businesses are formed as a result of an entrepreneur's previous work experience.
What is content marketing?
Net Profit = 500Revenue = 2000Expenses = 1000Cost of Goods Sold = ? (ENT FIS 1,2,3,4,5,6,7,8,9,10,11,12,13)
According to Kets de Vries (1985), which of the following is one of the negative effects that can permeate the personality of entrepreneurs and dominate their behavior?
What part of the business model canvas divides potential customers into categories based on shared attributes and behavior?
Morris, Kuratko and Covin (2011) describe in their book the entrepreneurial process.What is the first step in the entrepreneurial process?
A small business' harvest plan is to put the profits back into the company.
Which of the following is NOT a common source of startup funding?
According to Burgelman, on which level is the main and most important motor for corporate entrepreneurship:
WHICH TWO STEPS ARE MANDATORY IN THE PROCESS OF STARTING UP A BUSINESS?
What is a balance sheet in business?
The patterns of change in society as a whole. They often lead to changes in consumer behavior. (ENT MR 1,2,3,4,5,6,7,8,9,10,11,12,13)
a description of how entrepreneurs plan to make money with their business concepts
Public businesses are motivated to earn a profit? (EN,BC,1,2,3,4,5,6,7,8)
1. The term “Entrepreneur” has been derived from the word “entreprendre” which means: (EN ES 1)
In recent years, the limited liability corporation has become one of the most popular legal forms of ownership for small businesses.
What are the key elements of the HRM (Human Resource Management) system to create an entrepreneurial environment?
What is the purpose of a mission statement in business?
Which of the following is used by entrepreneurs to acquire experience in an international market before making a major commitment?(EN ES 1)
What is referred to as "the strategy-making practices that businesses use to identify and launch corporate ventures"? (Article)
It is critical for a new business to conserve its resources and focus on areas that have the potential to maximize the firms' resources.
Good listening skills include what? (EN CS, 1,2,3,4)
Which out of these are benefits of ethics in business? (EN E 1,2,3,4)
Small-business growth is important in the United States and the world.
Which form of growth of the business is diversification? (EN ES 1)
Being an entrepreneur requires much more than big ideas. A true entrepreneur possesses a unique cocktail of skills and characteristics that enable them to beat the odds and go after their dreams full throttle. Which characteristic involves choosing a course of action?
A brief overview of the company including the business name, a summary of the business, and location of the business
a small group of employees who do similar jobs and meet regularly to identify ways to improve the quality of what they do
What is an office memorandum?
The type of Plant and machinery to be taken in a business is mentioned in a marketing plan.
Large firms can respond more quickly to changes around them and fill niches better than small businesses.
What is a mission statement in business?
What is not a characteristic of how organization performance is measured in the 'Corporate Entrepreneurship'- model of Morris, Kuratko and Covin (2011)?
the study of how people allocate scarce resources to fulfill their unlimited wants
____________ is the analysis of the differences between the predicted and the actual performance of the business.
0.02 is read as _____. (EN,BM, 1,2,3,4,5,6,7)
The foremost limitation of the market-pull approach is:
Which one of the following would not generally be considered an aspect of operations management? (ENT POM 1,2,3,4,5,6,7,8,9,10,11,12,13,14,15)
According to Brikinshaw, J. & Gibson, C. (2004), what is ambidexterity in a company success?
Gathering and analyzing information to help make sound marketing decisions. (ENT MR 1,2,3,4,5,6,7,8,9,10,11,12,13)
What word used to mean 'enterpreneur'
An owner, when researching a new business, needs to be aware of all potential customers.
Which function of management requires leaders to provide a direction and vision for a business? (ENT M 1,2,3,4,5,6,7,8,9,10,11,12,13)
The need for political skills is tied to three major challenges. Which one is not one of them?
A formal agreement made by two or more parties to jointly manage and operate a company
A(n) ___________ exists if the service or product performs a similar function.
What is a fixed cost?
What is customer lifetime value (CLV)?
What is ONE way an entrepreneur can successfully present a well-orchestrated business plan?
What is a target market analysis?
Name the function of management that involves monitoring how the business is performing. (ENT M 1,2,3,4,5,6,7,8,9,10,11,12,13)
Equity is the value of shares (value of assets ) issued by a company. Who has equity within a company? (Two correct answers)
At which level(s) can the Entrepreneurial Health Audit be applied?
People who work for someone else
What is the role of a mentor in entrepreneurship?
There are two dominant approaches of innovation processes. Those are …
Which option below is not relevant to HRM (Human Resource Management) entrepreneurial practice of job planning/design?
an individual who undertakes the creation, organization, and ownership of a business
What is a patent?
MOST BUSINESSES MAY FACE LEGAL PROBLEMS BECAUSE
Emergent investments can be described as:
Slotting Allowances do NOT pay for: (ENT MP 1,2,3,4,5,6,7,8,9,10,11,12,13)
An example of an idea for a new startup from a hobby is _________________.
Mark brings his friends together to generate ideas for his new business. This is called ________.
What are the four main types of organizational context?
What is email marketing?
What is a product prototype?
Gross profit is calculated by... (ENT FIS 1,2,3,4,5,6,7,8,9,10,11,12,13)
Installing mounted video cameras can help to:
Which of the following does not represent start-up entrepreneurship, but corporate entrepreneurship? (Chapter 2)
Being an entrepreneur requires much more than big ideas. A true entrepreneur possesses a unique cocktail of skills and characteristics that enable them to beat the odds and go after their dreams full throttle. Which characteristic involves being a visionary and not a dreamer?
a business that disappears from the tax rolls because it may be operating under a new name or because the owner has purposely discontinued in order to start a new business
Entrepreneurial companies recognize the concept of failure that states:
What is a call to action (CTA) in marketing?
What does MVP stand for in the context of entrepreneurship?
A type of young business that develops a unique product or service and bring it to the market
What can be referred to as the "extent to which events are innovative, risky and proactive?"
A small business can compete on a cost basis with a larger firm.
All businesses face the risk of:
Cash is "king" in small business.
Which one of these is NOT one of the four general cultural prototypes?
The point at which total cost and total revenue are equal, meaning there is no loss or gain for your small business describes which term?
Which of the following is a positive aspect of a purely collective corporate culture?
Provides insight into what people think about a topic. Comes from research questions that require judgement, instead of "yes or no" answers. (ENT MR 1,2,3,4,5,6,7,8,9,10,11,12,13)
What is social media marketing?
What is marketing automation?
What are pro forma financial statements?
"The ability of a firm to recognize the value of new, external information, assimilate it, and apply it to commercial ends" defines the concept of
According to Morris, Kuratko and Covin (2011), which of the following is not part of the 3 dimensions of Corporate Entrepreneurship?
What does ROI stand for in the context of business?
the infrastructure or foundation that supports all the products, processes, and services of a new business
When measuring entrepreneurial performance at organizational level one useful assessment tool is the so-called Entrepreneurial Health Audit, which comprises three steps. Which of the following steps is not included?
What is the disadvantage of choosing a sole proprietorship?
Give the three guides were published for the successful application of the ISO 31000. (ENT LRM 1,2,3,4,5,6,7,8)
Shopping malls, Krogers, and Best Buy are examples of a (BLANK) business.
The _____________ is a regulation which passed the US Congress in 2002 as a reaction to different financial scandals. (ENT LRM 1,2,3,4,5,6,7,8)
In the creative process people often face with the "creative blocks" that restrict people to be creative. What are the main sources of employee's "creative blocks" in the organization?
The following can be applied to the concept of "slack":
State of confusion about what is ethically right or wrong. (EN E 1,2,3,4)
The first step in choosing a location for a service facility involves answering which of the following questions?: (ENT POM 1,2,3,4,5,6,7,8,9,10,11,12,13,14,15)
_Select the ones you like
The importance of ethics in entrepreneurship are include (EN E 1,2,3,4)
Which sentence below is not a principle to effective use of award program to encourage entrepreneurship?
Which of the following is NOT part of the Resource orchestration process:
What is guerrilla marketing?
What is a trademark?
An owner, when researching a new business, needs to be aware of, and be able to describe, all potential customers.
What is a variable cost?
What is a pivot in the context of entrepreneurship?
Tom Peter suggests…
Productivity increases when : (ENT POM 1,2,3,4,5,6,7,8,9,10,11,12,13,14,15)
roles of entrepreneurship in the economic development.
What is a profit margin?
What is a business incubator?
an organization made up of individuals and businesses in a specific industry that works to promote that industry
The following are the examples of environmental issues associated with businesses ethics, EXCEPT? (EN E 1,2,3,4)
What is a brand identity?
Who is a self-made, web developer, and the founder of the social networking site Twitter in 2006?
a business that has stopped operating, with a loss to creditors, and one that no longer appears on the tax rolls
Emily is a baker. She bakes 24 loaves of bread, and places them into 4 bags. How many loaves are in each bag? (EN,BM, 1,2,3,4,5,6,7)
Informing a new business, the first thing a founder should do is:
Primary Data is information collected through original or first-hand research. Secondary Data is information which has been collected in the past by someone else. Demographic data you obtained from the government is considered ___________ data
A business entity that is separate and distinct from its owners
Company's strategy and culture is nothing to do in risk management. (ENT LRM 1,2,3,4,5,6,7,8)
20% of what number is 16? (EN,BM, 1,2,3,4,5,6,7)
What is the purpose of a pitch deck in entrepreneurship?
What is 2/3 of 12? (EN,BM, 1,2,3,4,5,6,7)
What is a business exit strategy?
A ________ Market is the group of potential customers to whom a company wants to sell its products and services.
According to the book, the greatest source of sustainable advantage is:
Name two aims of teaching entrepreneurship to students.
Chemicals, fabrics, and foods are examples of (BLANK) businesses.
What is a marketing budget?
an idea that has commercial value when consumers are ready and willing to buy that product
According to the book, the most dangerous situation for a new business is _______
Who makes the decisions that middle managers carry out? (ENT M 1,2,3,4,5,6,7,8,9,10,11,12,13)
The assets section of a balance sheet includes:
It takes four days and $210 to establish a business as a legal unit in the US.
This helps people solve problems in a logical manner.
An individual who provides financial backing for small start-up businesses or entrepreneurs. This individual will often accept a lower return on investment or partial ownership of business. What is this individual called?
If a business doesn’t have a habit of breaking the law, it doesn’t need a permanent lawyer in staff. Most businesses need legal services several times a year. A contract with a law company is a good way to get qualified legal aid. You have to pay only for solving your legal issue. What is this an example of?
According to Morris et. al.(2011), why managers involved in entrepreneurial activity might act in an unethical manner?
What is the "elevator pitch" in entrepreneurship?
The process of running a business of one's own is called?
People who work for someone else are called?
What is the Entrepreneurial Health Audit used for?
What are the two measures used to evaluate whether a person or firm is meeting its goals?
A business structure in the U.S. that protects its owners from personal responsibility for its debts or liabilities
After proper evaluation of ideas, an entrepreneur comes to know ,what is important and what is not.
Which is not one of the five key company capabilities that lead to a competitive advantage?
A strategy for how a business will obtain start-up capital, identify sources of financing, and assess the costs and benefits of resources
A pattern of change in consumer behavior that leads to changes in the marketing mix. Often combines research on customers, competition, and possible opportunities. (ENT MR 1,2,3,4,5,6,7,8,9,10,11,12,13)
A sole proprietorship is the most complex form of business to establish.
It is important to measure a company's entrepreneurial performance because management…
Consumer promotions are all around us in the form of "coupons, percent-off discounts, free trials and samples, buy one get one free deals, rebates, premiums, ad specialties, and contests and sweepstakes (ENT MP 1,2,3,4,5,6,7,8,9,10,11,12,13)
Why do we learn entrepreneurship?
Integrity in business means (EN E 1,2,3,4)
What are the characteristics of the organizational culture?
which of the following not to improve ethics in entrepreneurship? (EN E 1,2,3,4)
The amount of revenue for given period of time, which consists of gross sales minus sales return. (Revenue= Gross Sales- Sales Return)Which term describes this statement/equation?
__________ is the edge a business has over competing businesses.
An optimum capital structure can be defined as a financing mix incurring the ___ cost but yielding the ___ results. (EN ES 1)
where did the word enterpreneur originate from?
The goal a company wants to achieve with its risk management strategy must be compatible with the overall business objectives. (ENT LRM 1,2,3,4,5,6,7,8)
Which one of these characteristics in a NPO is similar to a profit oriented organization?
This image is representation of which process?
What could be examples of political tactics?
Choose the right sentence:
ALL BUSINESSES FACE THE WHOLE LIST OF PROBLEMS AT THE SAME TIME
Strategy Audit is included in Internal Control System of ERM. (ENT LRM 1,2,3,4,5,6,7,8)
What is the primary purpose of market research in entrepreneurship?
Money loaned to a business with the understanding that the money will be repaid, with interest, in a certain time period is:
What is a non-disclosure agreement (NDA)?
Break-even analysis is the estimation of when a business's income exceeds its expenses.
What is entrepreneurship education?
A projection of what an entrepreneur expects out of the sales and expenses of a business
All of the following are important types of insurance for your business except:
Two Advantages of being an entrepreneur
4. Which type of entrepreneurs utilizes a chance to introduce a new technique or new product? (EN ES 1)
What term does the image represent?
What is the worst problem which might occur if the product is commercialized to not fully finished during Strategic forcing phase ((Burgelman, 1983)?
According to Brikinshaw, J. & Gibson, C. (2004), what kinds of behavior individuals have in ambidextrous organization?
Individuals or other organizations that impact the success of a business are called:
The process of generating new business ideas is something that occurs automatically.
THE PROCESS OF BUSINESS IDENTIFICATION CONSISTS OF
What are the 4 stages for "Change through Persuasion" according to Garvin & Roberto (2005)?
Which of the following are different terms for variable costs? (ENT FIS 1,2,3,4,5,6,7,8,9,10,11,12,13)
Gathering, storing, and using customer data for marketing directly to customers based on their histories. (ENT MR 1,2,3,4,5,6,7,8,9,10,11,12,13)
According to Morris et. al.(2011), some model already developed in term of entrepreneurial control system, what is the model that used to as an approach that attempt to change the link between the employee and the company?
The Blue Ocean Strategy implies to…:
All of these are advantages for a small business except:
Which one of the following is the process of entrepreneurs developing new products that over time make current products obsolete?(EN ES 1)
Money that is left after all the expenses of running a business have been deducted from the income
According to McGrath and MacMillan, in order to maintain the "entrepreneurial mindset", the manager must assume certain ongoing responsibilities. The first responsibility involves…
What is a business model canvas?
What is a
Which of the following is considered a speaking skill? (EN CS, 1,2,3,4)
The set of moral principles that guides a company's conduct
The dominant operation for a bank is: (ENT POM 1,2,3,4,5,6,7,8,9,10,11,12,13,14,15)
A business organized for purposes other than generating profit
Which one of these options is not included in the disciplines of Discovery Driven Planning?
TWO OF THE POSSIBLE PROBLEMS FOR START UPS MAY BE
What is a marketing strategy?
What is entrepreneurship?
What are the 4 major policy areas when talking about the components of structure (according to Galbraith):
Which of these would an operations manager not be responsible for?: (ENT POM 1,2,3,4,5,6,7,8,9,10,11,12,13,14,15)
Which form of the strategic entrepreneurship has the highest frequency of the entrepreneurial event in general
the process of recognizing an opportunity, testing it in the market, and gathering resources necessary to go into business
What is pay-per-click (PPC) advertising?
a gathering or exhibition where vendors and manufacturers introduce new items and promote established products and services
What does ROI stand for in the context of marketing?
How many functions of management do most managers carry out? (ENT M 1,2,3,4,5,6,7,8,9,10,11,12,13)
All of these are tangible assets except:
___________ describes those areas of a business that are unique or unusual as compared to standard practices of the industry.
According to Leifer et al. (200), what are the top managerial concerns in large, established organizations?
Name the main mission (purposes) of the entrepreneurial government?
the beliefs and principles by which you choose to live that define who you are, shape your attitudes and choices, and help you identify your priorities
What is the purpose of a business proposal?
The ability to learn a particular kind of job
ONE WAY TO OBTAIN INFORMATION ABOUT CUSTOMERS IS
In Georgia, it is recommended that small-business owners apply for a business license that corresponds with any type of business. It takes 2 days and $210 to obtain a business license in Georgia.
Small business resources are more ____________ than large firms.
What is a career?
The entrepreneurial organization is built around all of these major portfolios EXCEPT which one?
What is customer satisfaction?
What is an exit strategy in entrepreneurship?
Disadvantages of being an entrepreneur
IN ORDER TO AVOID MARKET PROBLEMS, BUSINESSES MAY
An investment in the firm by the owner is called ______________.
The quality of providing consistent and dependable measurement and results. (ENT MR 1,2,3,4,5,6,7,8,9,10,11,12,13)
A set of questions posed to a group of people to determine how that group thinks. (ENT MR 1,2,3,4,5,6,7,8,9,10,11,12,13)
Which one is NOT an advantage of Entrepreneurship?
What type of economy allows the goverment to determine what, how, and whom products and services are produced?
Classical risks which can be strategic, financial and operational nature or concern the legal environment, so-called ________________ must be all considered. (ENT LRM 1,2,3,4,5,6,7,8)
A group that includes a cross section of the entire population that is targeted. (ENT MR 1,2,3,4,5,6,7,8,9,10,11,12,13)
Facts and figures from which conclusions can be drawn. (ENT MR 1,2,3,4,5,6,7,8,9,10,11,12,13)
What is a landing page in digital marketing?
Which function of management involves creating goals, objectives, and ways to achieve them? (ENT M 1,2,3,4,5,6,7,8,9,10,11,12,13)
In a proposed new business, the financial analysis focuses exclusively upon its ability to generate positive cash flow.
This economy is about personal choice. Individuals decide what, how, and for whom products and services are produced.
Which of the following is not a financial statement needed for potential lenders and investors?
What type of entrepreneurial business sells products directly to the people who use or consume them?
WHAT KIND OF EXTERNAL PROFESSIONALS ARE REQUIRED IN BUSINESSES?
What term refers to people that are responsible for running a business? (ENT M 1,2,3,4,5,6,7,8,9,10,11,12,13)
A sole proprietorship is where the owner, for legal purposes, is treated the same as the business.
An overall strategy assists the business by targeting its effort in specific areas.
What is the role of a board of directors in a corporation?
When one is creating an entrepreneurial work environment one should apply correctly:
Organizational learning is referred to as:
When should an owner ensure there are sufficient financial resources to operate the business?
The small business owner must have the necessary skills and must understand the marketplace.
When we speak of ambidexterity in a company, it means that:
What is the selling of a product or service for a profit as means of producing livelihood?
What is A/B testing in digital marketing?
Ownership capital is also known as? (EN ES 1)
Price, Quality, Location, and Service are characteristics that identify which term?
Entrepreneurship involves four phases. Name the first two
A strategy for how a business will generate revenue
What is influencer marketing?
Which element does the concept of Cycling NOT involve?
PEC Personal Entrepreneurship CharacteristicsName four of them
The importance of a feasibility study is judged in terms of-
There are two kinds of technologies distinguished by Christensen (1997):
How a company is organized, which impacts things like legal and tax liability of owners
Which organizational structure, according to Miller (1986, 1996), that is characterized by high level of informality, coordination of task accomplished by direct supervision, and all strategies determined at the top?
Information, statistics, or other type of data that already exists. Someone has already collected the information, but others can use it. (ENT MR 1,2,3,4,5,6,7,8,9,10,11,12,13)
Kim and Mauborgne (2004) say that a 'blue ocean' is created when the company's actions favorably affect both its cost structure and its value proposition to buyers. What are these actions?
Revenue = 1000Cost of Goods Sold = 200Expenses = 300Net Profit = ? (ENT FIS 1,2,3,4,5,6,7,8,9,10,11,12,13)
These are special events/meetings where companies of the same industry or related industries display their products.
The new landscape is characterized by the following four forces:
A Business Plan is a text document that addresses the concept, customers, and capital for a business. It is used to get investors to buy in to business.
An owner should establish the mission statement and strategies ____________
There are four types of business ownership. Which type of business has the liability protection of a corporation and it exists as a separate entity much like a corporation. Members cannot be held personally liable for debts unless they have signed a personal guarantee.
What is Body Language? (EN CS, 1,2,3,4)
What is a value chain in business?
ESOP involves employees purchasing ownership of a retirement plan from a business owner. What does ESOP stand for?
a periodical published for people with special interests, such as sports, camping, fashion, and a variety of other areas
What type of entrepreneurial business sells products to people other than the final customer?
Which one is NOT a disadvantage of Entrepreneurship?
To prepare a Pro Forma Cash Flow Statement, you must forecast your:
A major cause for the failure of a new business is a lack of focus on the competitive advantage.
What is a difference between corporate entrepreneurship and start-up entrepreneurship according to Morris, Kuratko and Covin (2011)?
What is customer segmentation?
Revenue = 1000Cost of Goods Sold = 200Expenses = 300Gross Profit = ? (ENT FIS 1,2,3,4,5,6,7,8,9,10,11,12,13)
In a limited liability corporation, a firm can have more than ________ investors.
New business owners do not need to identify customer needs because the competitors already have.
What is the purpose of a pitch in entrepreneurship?
Name the last two phases of entrepreneurship
Covin and Miles hypothesized that firms that embrace entrepreneurship as core to their strategies will…
What is cash flow in business?
What is a marketing objective?
Your ability to learn a particular kind of job, or a natural ability is called?
Blue ocean strategy is achieved only when the whole system of a company's......activities is properly aligned (Kim & Mauborgne, 2004).
What is a target audience in marketing?
According to Morris et.al. (2011), which of the following is the responsibility of Senior Managers?
A small business start-up is designed to take advantage of the skills of the founder or founders.
Dell Inc. is moving forward with plans to begin selling PCs through solution providers, channel partners and retail partners, instead of sticking with the pure direct sales model championed by company founder Michael Dell.Which form of strategic entrepreneurship does Dell adapt?
Influencer marketing is a form of social media marketing involving endorsements and product placement from influencers, people and organizations who have a purported expert level of knowledge or social influence in their field (ENT MP 1,2,3,4,5,6,7,8,9,10,11,12,13)
What is the role of a business analyst?
What 3 types of entrepreneurial activity failures can we distinguish?
What are the three types of corporate venturing?1. Internal2. External3. Uncongested4. Cooperative
What is a call-to-action (CTA) button?
Which parts of departments are involved in a new corporate venturing, according to Burgelman (1983):
What are the four components of the business process? (EN,BC,1,2,3,4,5,6,7,8)
Control system can be defined as:
What is social proof in marketing?
What is a business strategy?
Maria assembled widgets M-F as follows: 23, 34, 52, 47, 31She gets paid P4.25 per widget. How much did she get paid? (EN,BM, 1,2,3,4,5,6,7)
Good sources of information for an entrepreneur about competitors can be obtained from_________. (EN ES 1)
Choose the examples of the public entrepreneurship?The organization which give free food for poor peopleMadonna is looking to adopt a child from 3rd world countryAustralian Red CrossFree parking places for people who are under 65 years old
Why should companies establish a corporate venture plan?
What is the term for the process of bringing a new product or service to market?
Remaining competitive is very different from achieving sustainable competitive advantage:
According to the model of Motivation for Entrepreneurial Behavior, "Individual motivation" to be entrepreneurial on the job is a function of three elements. Which of the following elements is NOT part of the model?
What other use is there for the entrepreneurial grid besides applying it to organizations?
The legal means to protect intellectual property is ___________.
What is a marketing automation?
A small business may also be referred to as a "mom and pop" business? (EN,BC,1,2,3,4,5,6,7,8)
What is a partnership in business?
the federal agency that provides services to small businesses and new entrepreneurs, including counseling, publications, and financial aid
There are four types of business ownership. Which type of business is owned by stockholders/investors but operated by officers?
a periodical published for a specific type of business or industry
Marketing feasibility includes the raw material and transportation to be needed in the business
What is the lean startup methodology?
The Fortune 500 companies employ _________________ employees than ten years ago.
Regarding the Corporate Entrepreneurial Framework, which of the following statements is TRUE?
What roles do promotions play in marketing? (ENT MP 1,2,3,4,5,6,7,8,9,10,11,12,13)
Which one do you like?
Operations Management is a _________ process: (ENT POM 1,2,3,4,5,6,7,8,9,10,11,12,13,14,15)
What is crowdfunding?
Companies will ___________ their knowledge if your business is not a potential competitor.
An interest calculation that accrues (sums of money, or benefits, be received by someone in regular or increasing amounts over time) the interest percentage for each of a loan is considered?
The first section of an external analysis is to:
A business that has fewer employees and less annual revenue than corporations or other larger businesses.
What is a marketing mix?
A ___________ agreement is a legal agreement that binds one or more parties to non-disclosure of confidential or proprietary information. A confidentiality agreement is often used in situations wherein sensitive corporate information or proprietary knowledge is not to be made available to the general public or to competitors.
A small business owner's relationships with key suppliers and customers are of relatively little importance in a business' success.
Out of the four documents used in discovery-driven planning which of the following is NOT included?
A BUSINESS PLAN IS
Which is the corporate venture capital investment extending the corporation's presence in product market or technological arenas regarded as strategic to corporation?
Potential generation of new business ideas occur:
An entrepreneur cannot leave his or her business due to the amount of money that was invested. This is called a(n) ______________.
There are three levels of learning effort that organizations can implement to gain the most benefit from each entrepreneurial project, which one is level 1:
Which of the following type of plan helps in communicating with the investors for procurement of finance?
Which technique of generating business ideas involves the screening of large amount of information?
A brief speech that defines a person, process, product, service, organization, or event and its value
The act of setting up a business with the goal of making profit
Which of the following would NOT normally be considered a general characteristic of a service? (ENT POM 1,2,3,4,5,6,7,8,9,10,11,12,13,14,15)
Which of the following is NOT an example of an internal challenge for HRM?
What type of plan refers to how a company will be organized?
Evaluation of your strenghths and weaknesses
What is a competitive analysis in marketing?
Fifty percent of businesses fail within the first four years.
What is a sales funnel in marketing?
The extent to which questions address the intended marketing-research topics. (ENT MR 1,2,3,4,5,6,7,8,9,10,11,12,13)
The component of a business plan that reviews what the business is and how it plans to profit is called a what?
Organizational culture involves different components. What are the main components of the organizational culture?
A competitive advantage in a business could be ____________________
An evaluation of your strengths and weaknesses are called?
One advantage that a large firm has over a small firm is economies of scale.
Risk management is understood to be an executive function. (ENT LRM 1,2,3,4,5,6,7,8)
Which ability involves combination of ideas in a unique way?
Document that describes a new business & a strategy to launch that business
Which of these statements accurately captures a current trend in operations? (ENT POM 1,2,3,4,5,6,7,8,9,10,11,12,13,14,15)
In a benign or controllable external environment, what kind of management style and organizational structure is appropriate and effective? (Slevin and Covin, 1990)
a clear and concise description of a business opportunity
A small business owner must understand when an opportunity for a new business is truly an opportunity.
What is a sole proprietorship?
The term for when a new business has reached a level where revenue coming into the firm is sufficient to cover expenses:
According to Morris et. al.(2011), related to the concept of balance, which characteristics below are not include within company control system?
What is a business plan?
At a movie premiere, the number of children, men and women who attended were in the ratio 2:3:4. If 236 children watched the premiere, how many persons were in the audience? (EN,BM, 1,2,3,4,5,6,7)
Cash flow is the positive movement of money into the firm to pay the bills.
When dealing with disputes you refer to IPR what is it? (EN ES 1)
When there is a difference between managers and owners, profits are a useful measure as a means to evaluate performance.
Which criteria is not critical for top-level managers to create an entrepreneurial organization?
A formal explanation of a company's goals
If a small business has employees, the business must have a(n) ____________.
The reason a bank may turn down your loan application is:
A potential owner must be realistic about its competitors in products and the volume of sales.
"Entrepreneurship as the basis upon which the organization conceptualized and resources are allocated" is one way to create:
Which step of the problem solving model involves performing research and interviewing customers, suppliers, and employees?
What does SWOT analysis stand for?
What do SMART goals mean?
Morris, Kuratko and Covin (2011) explain three main reasons to start their own organization.What is not one of these three main reasons for corporate entrepreneurs to start their own organization?
What is market research?
The cash flow statement is used to describe _________ percent of the activities that provide and use cash during a specified period of time.
According to Morris et. al.(2011), which the following is not part of Principles of the Open Book Management?
Which of the following is false considering the Entrepreneurial imperatives of strategic leadership discussed in Covin & Slevin (2002) ?
The owner must be aware of his own tolerance of risk and establish a business that is consistent with that tolerance.
Www.sba.gov/tools/business-plan/1 and http://www.bplans.com are examples of resources available to help entrepreneurs create what?
Family members are in a unique position to keep an individual focused on pursuing the wrong approach to an issue.
People who own, operate, and take the risk of a business venture are called?
A pro forma is a term describing estimates of what the balance sheets and income statements will look like in the future.
Which of the following are different terms for fixed costs? (ENT FIS 1,2,3,4,5,6,7,8,9,10,11,12,13)
Which micro factor is depicted through the given picture?
There are eight principles representing a foundation around which the corporate entrepreneur can design his or her personal model, which of the following is not included:
Pieces of information collected directly by an individual or organization. (ENT MR 1,2,3,4,5,6,7,8,9,10,11,12,13)
What is SWOT in full?
Primary Data is information collected through original or first-hand research. Secondary Data is information which has been collected in the past by someone else. A marketing survey you posted on Facebook is considered ___________ data
What is opportunity cost?
A person that is overly forceful, pushy, hostile or otherwise attacking in approach is known as (EN CS, 1,2,3,4)
The money business owners require to start, run, or expand a business
What type of entrepreneurial business actually produce the products they sell?
What is a franchise?
How would you classify a manager that's in charge of a department? (ENT M 1,2,3,4,5,6,7,8,9,10,11,12,13)
A service business is a type of business where goods are manufactured and sold to customers.
What is market segmentation?
Examples may include salaries, utilities, rent, insurance, and office supplies. (ENT FIS 1,2,3,4,5,6,7,8,9,10,11,12,13)
B2B means Business to Business, which is a type of commerce transaction that exists between businesses, such as those involving a manufacturer and wholesaler or retailer. Which of these are examples of B2B? (Select two correct answers)
How do you calculate net profit? (ENT FIS 1,2,3,4,5,6,7,8,9,10,11,12,13)
What is a break-even point in business?
A business that has just one owner who pays personal income tax on profits earned from the business
Three Styles of Communication (EN CS, 1,2,3,4)
What is customer retention?
Which is NOt true about direct mail? (ENT MP 1,2,3,4,5,6,7,8,9,10,11,12,13)
Which of the following best defines entrepreneurship?
Which of the following is NOT a characteristic of a business plan?
Starting a new business could result from a particular event or condition within an individual's environment.
What does the acronym KPI stand for in business?
Potential owners should examine all of these specific areas except:
What is a formal explanation of a company's goals called?
Which of the following is a characteristic of an entrepreneur?
What is a startup?
Factors promoting entrepreneurship in Uganda
What management function involves monitoring customer satisfaction? (ENT M 1,2,3,4,5,6,7,8,9,10,11,12,13)
Emerging risks are global risks. (ENT LRM 1,2,3,4,5,6,7,8)
COGS stands for (ENT FIS 1,2,3,4,5,6,7,8,9,10,11,12,13)
Which of the following is a remedy to solve the problems of women entrepreneurs? (EN ES 1)
Established businesses may be hesitant about buying from a start-up small business.
Planning, organizing, leading, and controlling are the four __________ of management. (ENT M 1,2,3,4,5,6,7,8,9,10,11,12,13)
Why can the government be named "strategic entrepreneur", according to the definition in Chapter 5?
What is inbound marketing?
Cost of sales is calculated by... (ENT FIS 1,2,3,4,5,6,7,8,9,10,11,12,13)
Comparing the key roles of managers and entrepreneurs, which of the below mentioned key roles does not represent the manager? (Chapter 1)
When a person states his/her position in a firm but positive manner is (EN CS, 1,2,3,4)
Thoughts or concepts that come from creative thinking are called?
Michael Porter describes a low-cost strategy as a company seeking to be the lowest cost firm in the industry.
What is a competitive advantage in marketing?
____________________ states that individuals act to maximize their own individual benefit.
Which function of management involves reviewing the performance of employees? (ENT M 1,2,3,4,5,6,7,8,9,10,11,12,13)
3. What is the hallmark of a successful entrepreneur? (EN ES 1)
__________ __________ refers to a company's ability to turn customers into repeat buyers and prevent them from switching to a competitor.
Which of the following is an example of a unique selling proposition (USP)?
A situation in which your words say one thing but your body language says another is (EN CS, 1,2,3,4)
If you own your own business you will need to know how to calculate your profit. Which one is a calculation of profit?
This step contains the risk politics of the organization, order and liability. (ENT LRM 1,2,3,4,5,6,7,8)
What is a customer persona?
Who co-founded Blue Ribbon Sports (BRS) in 1964 with his track coach, Bill Bowerman. In 1972, BRS introduced a new brand of athletic footwear called Nike, which is a retail company.
Getting detailed information about products and services that already exists in the market is considered as market research.
A Pitch Deck is a brief presentation, often created using PowerPoint, Keynote or Prezi, used to provide your audience with a quick overview of your business plan. It is usually 10-20 slides, highly visual, and used to get investors attention. True or False?
Two types of communication are: (EN CS, 1,2,3,4)
One of the greatest risks to a new business is fast growth.
According to Amabile and Mueller (2008), which of the suggestions below is NOT one of the 3 components of successful creativity in organizations?
_________ is the threat to the success of a new business related to its ability to establish and maintain a high margin product or service.
Which of these Managers would be least likely to be considered in an operations management role within an organization?: (ENT POM 1,2,3,4,5,6,7,8,9,10,11,12,13,14,15)
What is a target market?
Which HRM (Human Resource Management) practices are more associated with entrepreneurial orientation (Based on Morris & Jones (1995))?
What is search engine optimization (SEO)?
What is a marketing plan?
What do values in an organization mean?
Choose the main motivation of the government to run a public entrepreneurship projects?
Which dimensions are critical to the Entrepreneurial Orientation concept according to Dess and Lumpkin (2005)?
the capital, skilled labor, management expertise, legal and financial advice, facility, equipment, and customers needed to start a business
There are four types of business ownership. Which type of business is owned and operated by one person?
What is business?
Which could be common limitations to the corporate entrepreneur?
An ____________________ is a person who provides the initiative and accepts the risk involved in starting a business.
Which is true of Interpersonal Communications? (ENT MP 1,2,3,4,5,6,7,8,9,10,11,12,13)
______________ is an area of business that uses standards that are necessary for the business.
Which one in these four roles that help to pursuit corporate entrepreneurship success cannot be listed as a Middle Management Role:
Being an entrepreneur requires much more than big ideas. A true entrepreneur possesses a unique cocktail of skills and characteristics that enable them to beat the odds and go after their dreams full throttle. Which characteristic involves being self reliant?
What is from the list below address to business model basic questions? (more than one answer is possible):
specially designated areas of a community that provide tax benefits to new business locating there
Which Structure is described as followed (according to Miller): Limited hierarchy and highly flexible and innovative structure. Extensive personal interaction. Power is decentralized and authority is linked to expertise:
Breakeven analysis is mentioned in this type of business plan_________________
Which is NOT a tip for entrepreneurship in the government?
Possibilities that arise from existing conditions are called?
According to Morris et. al.(2011), what are the content of useful framework in capturing virtually the constraints on entrepreneurial Performance ?
Which of these factors does not belong to the ways of building an adaptive firm according to Kuratko (2009a)?
The major problematic issues of control initiatives are the following:
A small business owner must possess all of the following except:
What is branding in marketing?
Listen to the audio and identify which product advertisement does this audio belong to? (EN E 1,2,3,4)
Thinking of a new product or service is an example of…
What are the three underlying dimensions of Entrepreneurship? (Chapter 2)
What type of entrepreneurial business sells service instead of a product?
This is a creative problem solving technique that involves generating a large number of fresh ideas.
Having less than 50 percent of equity share in an international venture is called:(EN ES 1)
___________________ shows a very generally held base which tries to consider all the different risk within an organization. (ENT LRM 1,2,3,4,5,6,7,8)
Which one of the following is NOT main output of the Strategic entrepreneurship process:
The most important person in a small business is the founder.
YOU MAY OBTAIN FINANCIAL RESOURCES FROM
What was Sony's successful Corporate Entrepreneurship strategy, mentioned In the article of Dess & Lumpkin (2005)?
A sustainable competitive advantage is an advantage that other firms cannot immediately copy.
What is ONE question that an entrepreneur should ask themselves to determine a venture's human resources needs?
The largest group of new business owners is ______________.
Searching through large amounts of digital data to find useful patterns or trends. (ENT MR 1,2,3,4,5,6,7,8,9,10,11,12,13)
Contextual ambidexterity, when contrasted to structural ambidexterity, can be defined as:
According to the Small Business Administration's Office of Advocacy, how many new businesses survive for at least two years
What is equity in business?
What is a niche market?
What is a value proposition?
What is market share in business?
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