MGMT 3850 (MGMT3850)

MGMT 3850 CHAPTER 11 HOMEWORK Essentials of Entrepreneurship & Small Business Mgmt., 7e (Scarborough) Chapter 11 Creating a Successful Financial Plan 1) In order to reach profit objectives, entrepreneurs must be aware of their firms': A) current ratio and liabilities. B) fixed assets and owner's equity. C) assets and liabilities. D) overall financial position and any changes in the financial status. Answer: D Diff: 2 Page Ref: 391 AACSB: Analytic Skills Learning Obj...

MGMT 3850 CHAPTER 12 HOMEWORK QUESTIONS AND ANSWERS Essentials of Entrepreneurship & Small Business Mgmt., 7e (Scarborough) Chapter 12 Managing Cash Flow 1) Solid cash management enables a business owner to: A) adequately meet the cash demands of the business. B) avoid retaining unnecessarily large cash balances. C) stretch the profit-generating power of each dollar the business owns. D) All of the above Answer: D Diff: 1 Page Ref: 429 AACSB: Reflective Thinking Learning Obj.: 1 2)...

MGMT 3850 CHAPTER 2 HOMEWORK QUESTION AND ANSWERS Essentials of Entrepreneurship & Small Business Mgmt., 7e (Scarborough) Chapter 2 Inside the Entrepreneurial Mind: From Ideas to Reality 1) The ability to develop new ideas and to discover new ways of looking at problems and opportunities is called: A) entrepreneurship. B) innovation. C) creativity. D) creative thinking. Answer: C Diff: 1 Page Ref: 40 AACSB: Reflective Thinking Learning Obj.: 1 2) An entrepreneurial "secret" for ...

MGMT 3850 CHAPTER 11 HOMEWORK Essentials of Entrepreneurship & Small Business Mgmt., 7e (Scarborough) Chapter 11 Creating a Successful Financial Plan 1) In order to reach profit objectives, entrepreneurs must be aware of their firms': A) current ratio and liabilities. B) fixed assets and owner's equity. C) assets and liabilities. D) overall financial position and any changes in the financial status. Answer: D Diff: 2 Page Ref: 391 AACSB: Analytic Skills Learning Obj.: 1 2) The ___...

MNMT 3850 CHAPTER 15 HOMEWORK QUESTIONS AND ANSWERS Essentials of Entrepreneurship & Small Business Mgmt., 7e (Scarborough) Chapter 15 Global Opportunities 1) Becoming a global entrepreneur requires: A) constant innovation. B) maintaining a high level of quality and constantly improving it. C) being sensitive to foreign customers' unique requirements and adopting a more respectful attitude toward foreign habits and customs. D) All of the above Answer: D Diff: 1 Page Ref: 570 AACSB:...

MGMT 3850 CHAPTER 1 HOMEWORK QUESTIONS AND ANSWERS Essentials of Entrepreneurship & Small Business Mgmt., 7e (Scarborough) Chapter 1 The Foundations of Entrepreneurship 1) One of the most significant economic developments in recent business history relates to the: A) growth of blue-chip corporations. B) development of Pacific Rim countries. C) entrepreneurial spirit. D) additional employment opportunities offered by government institutions. Answer: C Diff: 1 Page Ref: 1 AACSB: Reflec...

MGMT 3850 CHAPTER 5 HOMEWORK QUESTIONS AND ANSWERS Essentials of Entrepreneurship & Small Business Mgmt., 7e (Scarborough) Chapter 5 Forms of Business Ownership 1) The key to choosing the right form of ownership is: A) envisioning where your business will be in 10 years. B) understanding the characteristics of each form and knowing how they affect your business and personal circumstances. C) forming either an S corporation or a limited liability company since they are the only forms th...

is the process of creating and delivering desired goods and services to customers and involves all of the activities associated with winning and retaining loyal customers. A) Marketing B) Personal selling C) Promotion D) Customer service Answer: A Diff: 1 Page Ref: 271 AACSB: Communication Learning Obj.: 1 2) For an entrepreneur, a business plan: A) is of relatively little importance due to the dynamic nature of the marketplace. B) is synonymous with the marketing plan. C) tends to ...

MGMT 3850 CHAPTER 10 HOMEWORK QUESTION AND ANSWER Essentials of Entrepreneurship & Small Business Mgmt., 7e (Scarborough) Chapter 10 Pricing Strategies 1) Setting prices for products and services requires entrepreneurs to balance a multitude of complex forces as entrepreneurs determine prices for their goods and services that will draw customers and: A) position prices lower than all competitors. B) produce a profit. C) effectively compete with online alternatives. D) have high volume/hig...

MGMT 3850 CHAPTER 9 HOMEWORK QUESTION AND ANSWERS Essentials of Entrepreneurship & Small Business Mgmt., 7e (Scarborough) Chapter 9 E-Commerce and the Entrepreneur 1) One of the most valuable attributes of the Web is the ability to: A) provide companies with instantaneous customer feedback. B) enable the site to create an appearance that the organization is able to meet customer needs that, in fact, are not possible based on its actual resources. C) eliminate advertising expenses and the a...