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Exam 7: Entrepreneurship

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Question 61

Multiple Choice

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Which of the following is the fundamental reason for creating an opportunity analysis?

A) to obtain financing
B) to negotiate agreements with suppliers
C) to excite potential customers
D) to analyze whether or not to act
E) to work out the details of marketing, finance, and manufacturing

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Question 62

Multiple Choice

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Gil has asked Leon to be a primary investor in his entrepreneurial start-up. Leon first wants to carefully study Gil's business plan, in particular these key factors:

A) the clients, the opportunity, the competition, the context, and the risk/reward.
B) the people, the opportunity, the competition, the context, and the risk/reward.
C) the clients, the other investors, the suppliers, the context, and the opportunities/threats.
D) the people, the other investors, the suppliers, the context, and the opportunities/threats.
E) the people, the threats, the partners, the context, and the risk/reward.

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Question 63

Multiple Choice

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"Miguel, I believe that you will succeed," said Pablo, his mentor. "When an entrepreneur is contemplating a new business, the very first step is to have ________. You are on the right track."

Deanna leaves her job at a refrigerator manufacturing company and starts her own business. Her objective is to attain maximum growth and earn high profits. Deanna's friend Callie still works at the refrigerator manufacturing company, where she has started a business venture utilizing the company's resources. Gus, her colleague, states that he would make a successful entrepreneur because he is a gambler and believes that a good idea and talent lead to success within a year.Deanna's objective for her business is to attain high growth and profits, which is an example of a(n)

Identify some of the events and trends currently unfolding in which entrepreneurs can potentially spot opportunities. Provide examples.

Entrepreneurs manage ________ and develop ________ strategies, practices, and products.

________ is an entrepreneurial alliance between two organizations.

A disadvantage of going public is the

Most small-business ventures are in the ________ category of the entrepreneurial strategy matrix.

Bad economic conditions make it especially difficult for an entrepreneurial organization to expand.

Entrepreneurs, in part because they are very busy, often fail to use

Renaldo is creating a business plan. His first formal step should be to

Deanna leaves her job at a refrigerator manufacturing company and starts her own business. Her objective is to attain maximum growth and earn high profits. Deanna's friend Callie still works at the refrigerator manufacturing company, where she has started a business venture utilizing the company's resources. Gus, her colleague, states that he would make a successful entrepreneur because he is a gambler and believes that a good idea and talent lead to success within a year.Gus's beliefs are some examples of the ________ of entrepreneurship.

Which of the following statements about entrepreneurs and risk is the most accurate?

The best business plans convey five key factors: the financing, the opportunity, the competition, the succession plan, and risk and reward.

Explain the procedure a manager should follow to build support for his or her project idea.

List and explain the nonfinancial resources that are crucial for the success of a business.

Sinead is considering opening a flower and gift shop in her small town. Before she begins writing her business plan, she conducts some research into the market and finds that there are already four other flower and gift shops operating within a few miles of each other. Given this information, what should Sinead do?

Deanna leaves her job at a refrigerator manufacturing company and starts her own business. Her objective is to attain maximum growth and earn high profits. Deanna's friend Callie still works at the refrigerator manufacturing company, where she has started a business venture utilizing the company's resources. Gus, her colleague, states that he would make a successful entrepreneur because he is a gambler and believes that a good idea and talent lead to success within a year.Callie's business venture is an example of

Deanna leaves her job at a refrigerator manufacturing company and starts her own business. Her objective is to attain maximum growth and earn high profits. Deanna's friend Callie still works at the refrigerator manufacturing company, where she has started a business venture utilizing the company's resources. Gus, her colleague, states that he would make a successful entrepreneur because he is a gambler and believes that a good idea and talent lead to success within a year. It can be understood that Callie is a(n)