QUESTION Which of the following is the best source for research data, certification and training, and professional contacts for an entrepreneur who wants to learn more about a particular industry? A) Service Corps of Retired Executives (SCORE) B) the Web C) mentors D) trade associations E) Active Corps of Executives (ACE) ANSWER Answer: D […]
QUESTION Nina is an overachiever who is always on the go. She left her job as a production manager at a successful company because she disliked the owner’s go-with-the-flow approach and preferred detailed plans. Based on this profile, what does Nina need to develop to be a successful entrepreneur? A) high energy level B) high […]
QUESTION When someone has a brilliant idea for a new business, what is the first thing he or she should do to get started on the right track? A) ask friends their opinion of the idea B) write a business plan C) create a logo and website D) learn about the industry E) identify potential […]
QUESTION Why it is important for an entrepreneur to have high self-confidence? A) Confident people tend to have more money. B) Confidence is needed to act decisively. C) An entrepreneur needs to be able to succeed at any business. D) Entrepreneurs need motivation. E) Entrepreneurs need to be hardworking. ANSWER Answer: B Explanation: B) […]
QUESTION Jason wants to start a t-shirt printing business, but he needs initial capital. He attends networking functions for bankers and investors and chats up his idea, but he gets no takers. What would be the best strategy for Jason to get funding for his business concept? A) meet with a mentor B) develop a […]
QUESTION Which of the following statements does NOT support the common notion that small business is the backbone of America? A) Small businesses provide the first job for most entrants to the labor force. B) Companies with fewer than 500 employees comprise over 99 percent of all U.S. businesses. C) Small firms are twice as […]
QUESTION Which of the following commonly develops a business idea within an already established business model? A) micropreneur B) classic entrepreneur C) necessity entrepreneur D) intrapreneur E) opportunity entrepreneur ANSWER Answer: D Explanation: D) An intrapreneur works within an existing company operating under a business model and mobilizes its resources to develop new products […]
QUESTION Which of the following does NOT describe many home-based businesses in the United States? A) 1- or 2-person operations B) high use of Web technology C) primary emphasis on product sales D) financed for less than $10,000 E) comprise one-half of new small businesses ANSWER Answer: C Explanation: C) Many home-based businesses offer […]
QUESTION Working at a home-based business can be challenging. Which of the following is NOT a common strategy to be successful operating a business at home? A) stick to a work routine B) network with other professionals C) dress professionally D) outsource tedious tasks E) dedicate a computer for work ANSWER Answer: D Explanation: […]
QUESTION Compared to big businesses, small businesses contribute to the overall economic vitality of the United States in all of the following ways EXCEPT which? A) promote more innovation B) provide more first jobs C) enjoy more economies of scale D) employ more workers E) generate more new jobs ANSWER Answer: C Explanation: C) […]
