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Study Resources (Business Management)

True / False Questions  1. In order to minimize copyright infringement on YouTube Salar Kamangar implemented a content tracking system called ContentID. 2.Entrepreneurs, because of their lack of understanding of intellectual property, ignore important steps that they should have taken to protect these assets.   3.A lawyer may work on a retainer basis by.
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  Multiple Choice Questions  39.Which of the following is not an exit strategy? A. an IPOB. a private sale of stockC. liquidationD. franchising     40.Around ____ of businesses make it to the third generation. A. 5%B. 12%C. 30%D. 60% 41.Which of the following is not an important part of a succession plan? A. estimate the firm's valueB. evaluate potential successors based on how similar they are to youC. .
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True / False Questions  1.The sale of the company to employees is an exit strategy.   2.About 75 percent of family firms successfully make the transition to the third generation.   3.Only 60% of businesses have a succession plan in place.   4.Passing the business to an employee ensures the new principal is familiar with the business.
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    59.When the debt is prorated to the creditors as a settlement in Chapter 11 this is called: A. Substitution.B. Evolution.C. Extension.D. Composition settlement.   60.What percentage of firms manage to emerge from the Chapter 11 process? A. 10-15%B. 20-25%C. 40-50%D. 70-80%   61.Suggestions for surviving bankruptcy include all of the following except: A. focus efforts on preparing a realistic reorganization plan.B. understand how protection against creditors works.C. file.
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  47. Identify 5 of the 12 characteristics of an entrepreneurial environment. 48. Identify the seven leadership characteristics of  a corporate entrepreneur. 49. Explain the dual process model of coping with negative emotions. 50. Explain the benefits, or practical implications, of using the dual process model of coping with negative emotions.   .
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  88. List the 5 main first-mover advantages discussed in the text. 89. Identify the main disadvantages of being a first-mover. 90. Identify and briefly explain the 4 ways that lead time can be extended by creating barriers to entry. Give examples where appropriate. 91.Identify and describe the three major risk reduction strategies.  92. Explain.
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True / False Questions  1.A new entry can be either offering a new product to a new market or creating a new organization.  2.Newness of a new entry is always an advantage.  3.The long-run performance of a firm is dependent upon the ability to generate and exploit numerous new entries.  4.In order to be.
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  Multiple Choice Questions  36.An opportunity assessment plan: A. is the same thing as a business plan.B. is longer than a business plan.C. has a lot of computer-based spreadsheets.D. focuses on the opportunity, not the venture.   37.All of the following are questions an opportunity assessment plan might answer except: A. How much capital do I need?B. What market need does it.
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    11.One key advantage of an ESOP is that it enhances employee motivation.   12.ESOPs account for about 20% of the nation's 10 million employees.   13.Presently there are about 11,500 ESOP companies in the United States.   14.One advantage of an ESOP is that the company can obtain a tax benefit by deducting ESOP contributions. 15. One.
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  54.Most ventures that are available for sale: A. are undervalued.B. lack established location.C. have a marginal or unprofitable track record.D. are listed on the stock market.     55. The concept that "the whole is greater than the sum of its parts" is known as: A. the price earnings ratio.B. synergy.C. the bargaining zone.D. integration.   56. The bootstrap purchase of assets: A. is a direct purchase of the.
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    72.The costs that must be borne by customers if they are to stop purchasing from the current supplier and begin purchasing from another is (are):A.customer switching costs.B.lead time.C.resource costs.D.resource bundle errors. 73.Lead time is:A.the time from production to market deliveryB.the time in which the first mover operates in the market under.
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  31.Which of the following is true about corporate entrepreneurship?A.Equity in a new venture should not be used as a reward due to its uncertain valueB.A company must be willing to invest money without a guarantee of a return in the short termC.Teams should be segmented by departmentD.Top management should not.
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True / False Questions  1. Pierre Omidyar came up with the idea for eBay.   2.Trends often provide one of the greatest opportunities for starting a new venture.   3. Clean energy and organic foods are current market trends. 4.Members of the distribution channel are usually good sources of ideas for new products.   5.The files of the.
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  31.Building customers' switching costs decreases barriers to entry for other firms.  32.Competition within an industry always has a negative effect on industry growth.  33.A narrow scope strategy offers a small product range to a small number of customer groups.  34.Using a broad scope strategy helps to reduce the risk of market uncertainty.  35.If a.
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    31.An unproven franchise is not a suitable investment for an entrepreneur.     32. In evaluating the potential profit for a new franchise the entrepreneur should request data from the franchisor so they can develop pro forma income and cash flow statements.     33.The Federal Trade Commission requires franchisors to make full presale disclosure of.
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    62.If there is a good fit between the venture's bundle of resources and the external environment:A.the firm will be rewarded with superior performance.B.the entrepreneur will be unable to compete in the market segment.C.environmental variables will be irrelevant.D.demand uncertainty will be irrelevant.   63.In emerging industries:A.environmental factors do not affect customer demand.B.entrepreneurs confront.
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rue / False Questions  1.Robert Mondavi Winery was the first Californian to produce and market premium wines that were expected to compete with European wines.    2.Corporate entrepreneurship is most strongly reflected in entrepreneurial activities as well as in top management orientations in organizations.3. Corporate venturing consists of creating something new of value.
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  Short Answer/Essay Questions  83.Discuss both the Gordon method and Forced Relationship creative problem solving techniques.  84. Discuss brainstorming, its definitions and tips for having a successful brainstorming session. 85. Give 5 examples of questions that could be asked using the checklist method.     .
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  Multiple Choice Questions  42.A new entry includes all of the following except:A.Offering a new product to a new marketB.Offering an established product to an new marketC.Creating a new product development process for your companyD.Creating a new organization   43.The set of decisions, actions, and reactions that first generate, and then exploit over time,.
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    46.Which among the following political risks is considered the biggest risk of all? A. Transfer riskB. Ownership riskC. Investment riskD. Operating risk   47.______ is defined as the risk of interference with the operations of the venture. A. Transfer riskB. Ownership riskC. Investment riskD. Operating risk   48.Which of the following statement is (are) true? A. Most countries have laws and court procedures protecting intellectual property.
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  Short Answer/Essay Questions  68.List the critical factors that an effective succession plan needs to consider.A. The role of the owner in the transition stage: Will he or she continue to work full time? Part time? Or will the owner retire?B. Family dynamics: Are some family members unable to work together?C. Income.
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    11.The Patent Cooperation Treaty, which has over 100 participants, was established to facilitate patent filings in multiple countries in one office rather than filing in each separate country.   12.A provisional patent application can be used to establish the date of conception of the invention.   13.To prevent others from copying his or her.
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  11.In an encouraging climate for corporate entrepreneurship, rewards should be based on the attainment of established performance goals.    12.It is important for an entrepreneur to understand all aspects of the environment. Part of this ability is reflected in the individual's level of creativity, which generally increases with age and education in.
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Short Answer/Essay Questions  67. Explain what the differences are between a business plan and an opportunity assessment plan. 68. Identify and briefly describe the four sections of an opportunity assessment plan. 69.Define political risk analysis, and identify and briefly describe the three major types of political risk.  70. List the seven various aspects of.
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    21.The bankruptcy type that is most common is Chapter 7 bankruptcy.   22.In 2011 about 9% of business bankruptcies were filed under Chapter 13.   23.Bankruptcy protects entrepreneurs from creditors and competitors.   24.The Bankruptcy Act of 1978 was designed to protect creditors from receiving nothing in bankruptcy.   25.More than 50 percent of firms filing for Chapter.
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  21.Key success factors are the requirements that any firm must meet to successfully compete in a particular industry.  22.Emerging industries are industries that have been around for years but are just starting to experience explosive growth.  23.Environmental changes are highly unlikely in emerging industries.  24.By overestimating demand, the entrepreneur will suffer the costs.
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True / False Questions  1. The key to successful entrepreneurship is to develop an idea that has a market with a need for the product or service idea conceived.   2.An opportunity assessment plan is basically the same thing as a business plan.   3.SCORE is a for-profit organization that provides online and in-person assistance in.
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    11.Entrepreneurs doing business in the former U.S.S.R. should be aware that barter, or third-party arrangements, are commonplace.   12.The laws governing business arrangements have been standardized over 150 international legal systems.   13. Only the pricing element in the business strategy of an international entrepreneur has the potential to be affected by the multiplicity.
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   64. What type of innovation is illustrated by the ideas of the airplane and penicillin? A. ordinary innovation B. continuous innovation C. technological innovation D. breakthrough innovation 65.Which of the following was not discussed in the text as a breakthrough innovation? A. The airplaneB. The InternetC. SpanxD. Penicillin  66.Which of the following is defined as having some disruptive influence on.
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  11.Market research, such as surveys, has limited effectiveness because it is often difficult for customers to articulate the underlying problems they have with a product or service.  12.The period of time when the environment is favorable for entrepreneurs to exploit a particular new entry is called the window of opportunity.  13.The longer.
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    49.According to the Small Business Administration, the failure rate of new businesses within the first few years is: A. less than 25%.B. about 70%.C. 50%.D. about 33%.     50.In 2011 approximately 21% of business filings were: A. Chapter 11.B. Chapter 13.C. Chapter 7.D. Chapter 14. 51.The majority of bankruptcies are: A. corporate bankruptcies.B. partnership bankruptcies.C. S Corporation bankruptcies.D. individual bankruptcies.   52.About 70% of the bankruptcy filings in 2011 were.
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    74. Which if the following was not a recommended method of evaluating the potential market for a new franchise in the text? A. Evaluate traffic flow in the area B. Hire a marketing firm to survey foot traffic near the proposed location C. Locate competitors and their proximity to the proposed franchise location D..
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    56. _____ is not considered a nonequity arrangement. A. Turn-key projectsB. ExportingC. LicensingD. Management contracts   57._____ has the main disadvantages of high transportation costs, trade barriers, and problems with local marketing agents. A. ExportingB. Turn-key projectsC. LicensingD. Franchising  58. Licensing is best described as: A. a nonequity method of international business in which an entrepreneur contracts his or her management techniques and skills to a.
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  Multiple Choice Questions  22.Robert Mondavi came up with all of the following process innovations except:A.steel fermentation tanksB.vacuum corking of bottlesC.labels that indicated when the wine was coldD.aging wines in new French oak barrels 23. In 1994 Robert Mondavi came up with: A. a capsule-free, flange-top bottle design. B. a new flavor of wine cooler.
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    11.Like the focus group, problem inventory analysis focuses on specific problems in a general product category.  12. Brainwriting is a written form of brainstorming.   13.Creativity tends to decrease with age.   14.Brainstorming is an unstructured process used for generating possible ideas about a problem within a limited time frame through the spontaneous contributions of.
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    31.The entrepreneur's ability to recognize a business opportunity is a result of his or her knowledge and experience.   32.When evaluating new product development, the criteria should be exclusive and subjective.   33.The product life cycle consists of five main stages.   34.One evaluation method successfully used in the concept stage is the systematic market evaluation.
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  Multiple Choice Questions  44.A _________ is a separate entity that involves a partnership between two or more active participants. A. mergerB. franchiseC. joint ventureD. leveraged buyout    45.Joint ventures can involve a wide variety which include: A. universities.B. not-for-profit organizations.C. traditional businesses.D. all of the above.   46.Joint ventures are sometimes called: A. mergers.B. strategic alliances.C. acquisition.D. leveraged buyout.   47.The most common type of joint venture is: A. international joint ventures.B. created for cooperative.
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    21.Reference groups in any culture provide values and attitudes that influence behavior. 22. Gifts related to business proceedings are illegal in most other countries and should not be offered to foreign business partners.   23.Profits and tax benefits are common motivations for going global. 24.For a U.S.-based entrepreneurial firm, the 75 percent of the.
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    21.Attributelisting is an idea-finding technique that requires the entrepreneur to list the attributes of an item or problem and then look at each from a variety of viewpoints.   22.In parameter analysis a new idea is developed through a list of related issues or suggestions.   23.Using the big-dream approach, a new idea is.
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    74.In which stage of the product planning and development process would it be appropriate to give product samples to a panel of potential customers? A. Idea stageB. Concept stageC. Product development stageD. Commercialization stage   75.The stage in the product planning and development process in which actual sales results are available is the: A. idea stage.B. concept stage.C. product development stage.D. test.
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    54.Probably the most well known and widely used technique for creative problem solving is: A. brainstorming.B. focus groups.C. forced relationships.D. scientific method.   55.Reverse brainstorming is much like brainstorming except that: A. criticism is not allowed.B. the technique is based on finding solutions.C. the group need not be careful to maintain good morale.D. the process usually involves identification of everything wrong with.
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    52.Technological knowledge:A.is gained through market research.B.can lead to a technology that is the basis for a new entry.C.does not help unless the market applicability is obvious.D.does not help if the market is limited. 53.When conducting research on a new entry:A.the more information the entrepreneur has, the more difficult it is to.
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  Multiple Choice Questions  44.Trends for the next decade include all of the following except: A. Green productsB. New age musicC. Clean energyD. Health Maintenance   45.Which of the following statements is true? A. Customers form the largest source of new ideas for entrepreneurs.B. While members of the distribution channel may be willing to provide new ideas for entrepreneurs, they may not.
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    31.Under Chapter 13, the key to enhancing the bankruptcy process is by stressing the significance of the creditors' support during the process.   32.Under Chapter 13, meeting with groups of creditors to amicably solve issues is usually a good idea.   33.Bankruptcy should be a last resort for the entrepreneur.     34. Cash flow is one.
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    64.The person offering the franchise is known as the: A. franchisor.B. endower.C. franchisee.D. franchise.   65.The person who purchases the franchise is the: A. business architect.B. franchisor.C. franchisee.D. franchise.   66.________ is an arrangement whereby the manufacturer or sole distributor of a trademarked product or service gives exclusive rights of local distribution to independent retailers in return for their payment of royalties and conformance.
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