ENT 2113 Final Exam Questions & Answers 100% Correct Verified 2024 Version
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ENT 2113 Final Exam Questions & Answers |
100% Correct | Verified | 2024 Version
A venture capital-backed business plan typically runs from _______pages long. - 25 to 45
Identify the reasons individuals can become frustrated with working in a large corporation. - Lack of
promotion opportunities...
ENT 2113 Final Exam Questions & Answers |
100% Correct | Verified | 2024 Version
A venture capital-backed business plan typically runs from _______pages long. - ✔✔25 to 45
Identify the reasons individuals can become frustrated with working in a large corporation. - ✔✔Lack of
promotion opportunities
Inflexibility of large corporations in dealing with the needs of an individual's family and children
The process of a new business is unique and has developed into a popular area of study at colleges
around the globe. (Check all that apply.) - ✔✔
initiating
developing
running
What is the most important single factor in the business's success? - ✔✔The business owner
Large firms can obtain economies of scale in some industries because of their ability to operate on a
larger scale than can a small firm. - ✔✔Economies of scale
In their book entitled The Millionaire Next Door, Thomas Stanley and William Danko point out that
almost two-thirds of U.S. millionaires are - ✔✔self-employed
Which of the following are important elements of a one-page pitch for your business? - ✔✔Product
offering
Customer problem
Business model
True or false: Every business in the Fortune 500 started out as a large corporation. - ✔✔False
,Recent trends indicate that larger corporations have been _________while entrepreneurial businesses
have been _________rapidly. - ✔✔downsizing; growing
Stakeholders include key suppliers, customers, and employees. These individuals are critical to the
success of a business. - ✔✔Stakeholders
__________are often for only a few dollars each and are made directly to entrepreneurs to encourage
self-development in developing nations. - ✔✔Microloans
Who is associated not only with the success of the industrial base but also with the great abuses in
business? - ✔✔Robber barons
Which of the following statements are true regarding the closure of military bases in the United States? -
✔✔Cities with base closings experienced increases in new businesses.
Cities with base closings experienced higher income growth.
Cities with base closings offered tax breaks and programs to support new business development.
Which of the following are characteristics of venture capital-backed firms? - ✔✔They either start or grow
quickly to employ a relatively large number of employees.
They have a developed organizational structure.
They are formed with a harvest plan in place.
The process of forming and managing a new entrepreneurial business in a clear, sequential manner that
is rich in practical application and grounded in research is the ____________part of entrepreneurial
business development. - ✔✔science
, Silicon Valley and Boston's 128 corridor are well known for: - ✔✔correct generating new employment
with entrepreneurial ventures.
providing a growing tax revenue base.
providing a basis to the area's economic vitality.
Which of the following are goals of the business plan for a new entrepreneurial business? - ✔✔To
provide investors with necessary information
To be a guide to managing the business
To provide self-evaluation
In what time period did the United States see a decline in large multinational firms and a rise of new
opportunities for entrepreneurial businesses? - ✔✔The late 1970s to early 1980s
Which of the following statements is true of venture capital start-ups? - ✔✔They are often formed as
high-tech ventures consisting of unique characteristics.
A(n) harvest plan is a plan to exit the business that allows the investors to take advantage of growth. -
✔✔harvest
What significant, historical event marked the beginning of the decline of entrepreneurial businesses in
the United States? - ✔✔World War II
Why do individuals decide to start a new business? - ✔✔The desire to be one's own boss
Which of the following descriptions are characteristics of entrepreneurial firms? - ✔✔The operation is
designed in the image of the founder.
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