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Study Resources (Business Management)

  81.All of the following are the key ideas of bootstrapping EXCEPT:  A.cutting your personal and business expenses. B.seeing if you can get things which you need for free. C.seeing if you can substitute a lower-cost alternative before you buy. D.borrowing heavily from banks while keeping your money untouched. 82.Working on one's own part-time business after.
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  71.A system of values people use to determine whether actions are right or wrong is referred to as _____.  A.bootstrapping B.pathos C.green auditing D.ethics 72._____ refers to a situation where a person's values are in conflict, making it unclear whether a particular decision is the right thing to do.  A.Cognitive resonance B.Mutuality C.Ethical dilemma D.Effectuation 73.Justin is a sales executive.
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  33.Which of the following profits are called flexibility for most owners?  A.Slack resources B.Marginal resources C.Resource maturity profits D.Takeoff profits 34.Which of the following components, as suggested by ZigZiglar, involves staying in touch with customers on a regular basis via visits, phone calls, e-mails, newsletters, and so on?  A.Urgency B.Frequency C.Potency D.Recommendations 35.In the context of the four key components.
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  True / False Questions  1.Part-time self-employment refers to working for self for 50 or fewer hours a week.  2.Most entrepreneurs start out working part time on their new business.  3.When one is new to business and needs to gain basic experience, it makes better sense to first undertake a part-time business.  4.The more time.
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  11.Correlation is one of the four stages in the creative process.  12.One of the ways to practice the business of innovation is to invite someone who was never included before in a meeting for solving a problem.  13.Research suggests that the first good idea entrepreneurs come up with is always the best.  14.Customers.
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  95.An approach to building organization-based legitimacy is through the creation and display of a company code of ethics. Explain.  96.What are the four best practices that can help any online social networking effort become successful?  97.Explain in detail the steps that a small business owner should follow when faced with a crisis.      .
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  11.The majority of part-time businesses are based in the home.  12.There are two key groups outside one's business with which one must deal—customers and investors.  13.Pricing is not seen as a challenge by part-time businesses.  14.Outsourcing refers to the assignment of work to others over whom one has power.  15.One technique to making bootstrapping.
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  True / False Questions  1.All models for the life cycle of the small business firm have multiple stages.  2.Survival is the second riskiest period after emergence.  3.For most small businesses existence will follow the success stage.  4.The resource maturity stage is characterized by a stable level of sales and profits over several years.  5.According to.
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  53.Which of the following is the best strategy for Silken Glow to follow to retain market share for the short term?  A.Show how easy the shaver is to use. B.Show how well the shaver co-exists with other products the customer owns. C.Advertise how the shaver makes women's lives better. D.Offer a coupon or rebate.
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  81.People should typically avoid businesses that advocate:  A.utilitarianism in ethical decision making. B.caveatemptor as the business principle. C.bootstrapping as a means to save costs of doing business. D.green audit and green retailing. 82.Using _____ as a defense puts the entrepreneur who uses it, and, usually by association, the whole small business community, in a negative.
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  23.Which of the following is a common idea among the different models for the life cycle of the small business firm?  A.There are multiple stages in all models of the life cycle of the small business firm. B.Every business invariably passes through the same stages of the life cycle. C.The level of risk.
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  71.According to Graham Wallas' description of the creative process, the _____ stage of a creative thought involves exploring the problem or opportunity in all directions.  A.illumination B.incubation C.preparation D.verification 72.According to Graham Wallas' description of the creative process, which of the following is true of the incubation stage of a creative thought?  A.It involves exploring the.
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  31.When a person happens to be at the right place at the right time resulting in a successful business idea, which of the following would be considered to be the factor that led to the business idea?  A.Family and friends B.Education and expertise C.Serendipity D.Personal interest 32.Born and raised in India, Rashmi has always enjoyed.
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  61.Born and raised in India, Rashmi has always enjoyed Indian cooking. As a matter of fact, cooking was her passion and she always enjoyed reading, learning, and experimenting with different ethnic cuisines. Ever since Rashmi's family moved to the United States, her cousins, friends, and other people at dinner gatherings.
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  98.How can a business achieve sustainability? How can a business make profits out of enhancing others' sustainability efforts?  99.Briefly discuss LaRueHosmer's model for making ethical decisions in business.  100.Briefly describe the four philosophies related to ethics a person can use to evaluate alternatives he or she has generated to solve a problem.      .
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  81.According the study of what matters most to entrepreneurs and their businesses, start-up entrepreneurs feel most confident about which of the following aspects?  A.Complying with local/state/federal regulations B.Obtaining start-up capital C.Obtaining a bank's help D.Attracting employees 82.The goal of a feasibility study is:  A.to create additional value for customers through great products or services. B.to create outlets.
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  11.As the owner of a business, quickly admitting that the firm is in trouble indicates a lack of accountability.  12.A business can make a profit by focusing on ways to enhance others' sustainability efforts.  13.LaRueHosmer's model for making ethical decisions is focused more on small business than big ones.  14.An ethical decision should.
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  Multiple Choice Questions  21._____ refers to the sum total of forces outside of an entrepreneur and a firm.  A.Environment B.Organizational climate C.Corporate governance D.Social capital 22.Following the BRIE model in starting a business, an entrepreneur creates a boundary within the environment, setting his firm apart from the rest of the environment. In doing this, the entrepreneur.
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  91.Which of the following best describes conflict of interest?  A.Sarah works a full-time day job as a waitress and then runs a part-time baby-sitting service at night. B.Cathy, who does computer repairs, lies to customers about having an office downtown when she actually works part-time from her home. C.Jenson misses his deadlines at.
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  True / False Questions  1.Search and capture of new ideas that lead to business opportunities is called opportunity recognition.  2.According to the Panel Study of Entrepreneurial Dynamics, the business idea and the decision to start a business were simultaneous for a majority of entrepreneurs.  3.Hobbies cannot be turned into successful businesses.  4.A license is.
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  41.Which of the following statements is true of social capital?  A.Social capital cannot be found on a business's balance sheet. B.The less of social capital a firm has, the greater the value of the firm. C.Social capital is capital in the same sense that cash or land can be. D.Small businesses high in social.
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  41.Which of the following questions in a typical I2P analysis provides a simple and nontechnical description of the product?  A.How is your product better than your competitor's? B.What is your product or idea? C.Why will customers buy your product? D.What is the market and its size for your product? 42.According to the I2P approach to.
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  Multiple Choice Questions  21._____ refers to searching and capturing new ideas that lead to business opportunities.  A.Opportunity charging B.Entrepreneurial alertness C.Opportunity recognition D.Opportunity encryption 22.Researchers in the field of entrepreneurship and small business believe that _____ behavior is the most basic and important entrepreneurial behavior.  A.opportunity recognition B.idea networking C.observational D.question-seeking 23._____ is a special set of observational and thinking skills.
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  51.Documentation and demonstration offered for products are product-based legitimacy indicators of _____.  A.intellectual property B.experiential supports C.industry leadership D.business network membership 52.A firm will be recognized for its industry leadership, a product-based legitimacy building characteristic, typically when:  A.its employees dress in casual attire to work. B.its service standards are benchmarked by competitors. C.it refuses to use outdated technology. D.it.
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  43.Which of the following inferences can be made from the life cycle model of business?  A.Resource maturity is the first stage in the life cycle of most of the small businesses. B.Much of the firm's development as a business is predictable within some broad terms. C.Most of the small businesses go through the.
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  83._____ are processes, benchmarks, or components of the business that are essential for the business to be profitable and competitive in its market.  A.IPOs B.CSFs C.ESOPs D.BRIE 84.The two broad types that CSFs fall into are outside help and _____.  A.entrepreneurial experience B.start-up capital C.brand name affiliation D.serial entrepreneurship 85.Which of the following is an accurate statement in the context.
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  73.A business termination in which the entrepreneur ends the business with its obligations met is called a:  A.sell off. B.workout. C.pass off. D.walkaway. 74.Grantor retained annuity trusts are used in:  A.tax management. B.liquidity enhancements. C.estate freezes. D.walkways. 75.Sue, the owner of a small business which bakes and sells homemade butter cookies, plans to close down the business and leave the.
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  31.Those parts of the external environment that directly and consistently touch on a firm are called the:  A.task environment. B.microenvironment. C.real-time environment. D.general environment. 32.Which of the following statements is true about the task environment?  A.The task environment of a firm is larger than its general environment. B.This part of the environment is made up of those.
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  11.Successions and business sales generally occur only among the largest small businesses.  12.In the hierarchy of business outcomes, the worst possible outcome is leaving the firm with no debt.  13.Liquidity enhancement is an estate planning strategy which focuses on generating cash to cover likely estate taxes.  14.Terminations are more likely for young firms.
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  61.Ivan has recently started his new business venture, and he has been busy visiting trade exhibitions, business organizations, electronic business forums, and his previous colleagues in order to build contacts. This will help him use their expertise to the benefit of his business. Ivan is typically working on building a.
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  True / False Questions  1.As a firm establishes a track record for performance, that performance, along with the goods or services it creates become key elements of the firm's and entrepreneur's identity.  2.Gathering resources for a business is easier during economic recessions than during economic boom times.  3.Being a small business makes managing.
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  99.What is the difference between delegation and outsourcing?  100.What is bootstrapping? Explain an idea to make bootstrapping work.  101.What are the main concerns when individuals moonlight? Explain.  102.Explain the key ideas to be kept in mind before moving from part-time to full-time entrepreneurship.      .
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  63.A transfer method in which a small firm is bought by a larger firm for the purpose of quickly growing the larger firm is referred to as:  A.IPO. B.ESOP. C.consolidation. D.termination. 64.A(n) _____ is a formalized legal method to transfer some or all of the ownership of a business to its employees.  A.IPO B.ESOP C.consolidation D.termination 65.An endgame strategy in.
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  51.In the SCAMPER tool, "S" stands for:  A.strategize. B.substitute. C.submit. D.solicit. 52.According to the SCAMPER tool, a feature that allows customers to order directly from a Web site rather than visiting a store is an example of:  A.elimination. B.adaptation. C.magnification. D.substitution. 53.Which of the following is the idea trigger for the "substitute" cue of the SCAMPER tool?  A.The opportunities that come.
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