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MGMT 3000 Guhde Exam 2 Study Questions and Answers Graded A 2024 $15.99   Add to cart

Exam (elaborations)

MGMT 3000 Guhde Exam 2 Study Questions and Answers Graded A 2024

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  • Course
  • MGMT 3000
  • Institution
  • MGMT 3000

entrepreneurship (4) - 1. process of *initiating* a business venture 2. organizing the necessary *resources* 3. assuming the associated *risks* 4. enjoying the *rewards* how many employees do most small businesses have? - none 5 types of small business owners - 1. idealists 2. optimizers ...

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  • September 3, 2024
  • 24
  • 2024/2025
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  • Questions & answers
  • MGMT 3000
  • MGMT 3000
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MGMT 3000 Guhde Exam 2


MGMT 3000 Guhde Exam 2 Study Questions and
Answers Graded A 2024

entrepreneurship (4) - 1. process of *initiating* a business venture
2. organizing the necessary *resources*
3. assuming the associated *risks*
4. enjoying the *rewards*


how many employees do most small businesses have? - none


5 types of small business owners - 1. idealists
2. optimizers
3. hard workers
4. jugglers
5. sustainers


idealists - rewarded by chance to work on something new and creative


optimizers - get personal satisfaction from being business owners


hard workers - thrive on the challenge of building a larger, more profitable business


jugglers - high-energy people who enjoy handling every detail of their own business


sustainers - enjoy chance to balance work and personal life




MGMT 3000 Guhde Exam 2

, MGMT 3000 Guhde Exam 2
as the ______ population of the US has grown, so has the number of ______-owned
businesses - minority


immigrants were almost ______ as likely as native-born americans to start new
businesses - twice


types of businesses launched by immigrant entrepreneurs are... - increasingly
sophisticated; traditional minority-owned retail stores/restaurants are being
complemented by firms in financial services, software, insurance, and online businesses


______ of US population was comprised of immigrants, but they make up ______ of all
business owners - 13.7%, 21.7%


there has been a ______ increase in women-owned businesses since 2007 - 58%


why do more men than women own businesses? - there's a suggestion that women
tend to be more cautious than men about borrowing money, which limits growth
opportunities, particularly in high-tech fields questioned


sociologists argue that women has less access to capital because... - they have to work
harder to convince others that they have what it takes to be successful


what is causing women to take a gamble in this competitive market? - cost of launching
tech-related businesses falling


approximately _____ of small businesses fail within the first year - 20%


by the end of the 2nd year, _____ of businesses will have failed - 30%




MGMT 3000 Guhde Exam 2

, MGMT 3000 Guhde Exam 2
8 traits of entrepreneurs - 1. autonomy
2. entrepreneurial sacrifice
3. high energy
4. need to achieve
5. self-confidence
6. internal locus of control
7. awareness of passing time
8. tolerance for ambiguity


entrepreneurial sacrifice - ability to persevere after struggles or defeat


need to achieve - internally motivated


internal locus of control - believe that you have control over what happens to you


which two traits of entrepreneurs are most/least like those of managers in large
corporations? - most: self-confidence, need to achieve
least: tolerance for ambiguity, high energy


starting an online or mobile app business (5) - 1. find a market niche
2. create a professional website
3. choose a domain name
4. know when to pivot (change strategic directions)
5. use social media


primary focus of social entrepreneurship - creating *social value* by providing solutions
to social problems


secondary purpose of social entrepreneurship - *generating profit* and returns




MGMT 3000 Guhde Exam 2

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