GENERALSOLUTIONS 101

MGMT 3850 MIDTERM STUDY GUIDE | VERIFIED GUIDE CH. 1 The world of Entrepreneur • Every year U.S. entrepreneurs launch more than 6.6 million new businesses • Entrepreneurial spirit - the most significant economic development in recent history. • Globally, nearly one in eight adults is actively engaged in launching a business • Global Entrepreneurship Monitor (GEM) study: 12.6% of the U.S. population aged 18 to 64 is engaged in entrepreneurial activity 68% of working adult...

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...

MGMT 3850 CHAPTER 14 HOMEWORK QUESTIONS AND ANSWERS Essentials of Entrepreneurship & Small Business Mgmt., 7e (Scarborough) Chapter 14 Choosing the Right Location and Layout 1) The first phase of determining where to locate a business is: A) choosing a state in which the business owner wants to live. B) determining which city has the demographics that best fit the business. C) conducting a specific site analysis. D) determining which regions of the country are experiencing growth. A...

MGMT 3850 CHAPTER 16 HOMEWORK QUESTIONS AND ANSWERS Essentials of Entrepreneurship & Small Business Mgmt., 7e (Scarborough) Chapter 16 Building a Team and Management Succession 1) ________ is the process of influencing and inspiring others to work to achieve a common goal and then giving them the power and the freedom to achieve it. A) Management B) Organizing C) Leadership D) Coordination Answer: C Diff: 1 Page Ref: 610 AACSB: Reflective Thinking Learning Obj.: 1 2) Leadersh...

MGMT 3850 CHAPTER 16 HOMEWORK QUESTIONS AND ANSWERS Essentials of Entrepreneurship & Small Business Mgmt., 7e (Scarborough) Chapter 16 Building a Team and Management Succession 1) ________ is the process of influencing and inspiring others to work to achieve a common goal and then giving them the power and the freedom to achieve it. A) Management B) Organizing C) Leadership D) Coordination Answer: C Diff: 1 Page Ref: 610 AACSB: Reflective Thinking Learning Obj.: 1 2) Leadersh...

MGMT 3850 CHAPTER 13 HOMEWORK QUESTIONS AND ANSWES Essentials of Entrepreneurship & Small Business Mgmt., 7e (Scarborough) Chapter 13 Sources of Financing: Debt and Equity 1) Entrepreneurs needing between $100,000 and $3 million in the current financial environment will likely find acquiring financing to be: A) challenging. B) confusing. C) attainable. D) easy. Answer: A Diff: 2 Page Ref: 469 AACSB: Reflective Thinking Learning Obj.: 1 2) Unlike entrepreneurs of the past, toda...

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 vo...

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 an...

MGMT 3850 CHAPTER 8 HOMEWORK QUESTIONS AND ANSWERS Essentials of Entrepreneurship & Small Business Mgmt., 7e (Scarborough) Chapter 8 Building a Powerful Marketing Plan 1) ________ 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 Ob...

MGMT 3850 CHAPTER 6 HOMEWORK QUESTION AND ANSWERS Essentials of Entrepreneurship & Small Business Mgmt., 7e (Scarborough) Chapter 6 Franchising and the Entrepreneur 1) A franchise is a system of distribution in which semi-independent business owners pay ________ and ________ to a parent company in return for the right to become identified with its trademark, to sell its product or services, and often to use its business format and system. A) a percentage of sales; royalties B) upfront...