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Management Study Set 32

Business

Quiz 10 :

Managing Small Business Start-Ups

Quiz 10 :

Managing Small Business Start-Ups

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China is the most entrepreneurial country,with 24 per cent of individuals age 18 to 64 starting a new business.
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True False
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True

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Particularly in a turbulent environment,the three most important traits of successful entrepreneurs are realism,flexibility,and passion.
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True

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The process of initiating a business venture,gathering and organizing the appropriate resources and assuming the associated risks and rewards refers to entrepreneurship.
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True

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The first step in pursuing an entrepreneurial dream is to come up with a viable idea.
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Entrepreneurs in the sustainer category are rewarded by the personal satisfaction of being business owners.
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A business plan for a small business should be detailed,encompassing at least 100 pages.
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Entrepreneurs in the sustainer category like the chance to balance work and personal life and often don't want the business to grow too large.
True False
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The most common source of new business ideas comes from in-depth understanding of an industry or profession.
True False
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Sole proprietorships are one of the fastest growing segment of small business.
True False
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A document specifying the business details prepared by an entrepreneur prior to opening a new business is known as a business plan.
True False
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Social entrepreneurs have a primary goal of improving society rather than maximizing profits.
True False
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Optimizers are rewarded by chance to work on something new and creative.
True False
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The psychological characteristic that allows a person to be untroubled by disorder and uncertainty is called tolerance for ambiguity.
True False
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Social entrepreneurship combines the creativity,business smarts,passion and hard work of the traditional entrepreneur with a mission to change the world for the better.
True False
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Entrepreneurship and small business is an engine for job creation and innovation.
True False
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A need to achieve is a psychological characteristic that means people are motivated to excel and pick situations in which success is likely.
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Immigrants are more likely to start small businesses than native-born citizens.
True False
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Entrepreneurs in the optimizer category are rewarded by the personal satisfaction of being business owners.
True False
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Social entrepreneurs are leaders who are committed to both good business and ensuring high profitability.
True False
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Approximately 600 000 new businesses are launched in the US each year by entrepreneurs.
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