Question 1

Match between columns
                        Premises: She was having a problem deciding on what went in her business plan and heard of other businesses getting college business classes to design a plan for them. Where did she go to locate such a program?
Where can she go to network?
If she wanted to ask advice later from someone currently in business who would be unbiased and able to give her an honest answer, which agency should she contact?
Where should she go for a loan if she is unable to get private financing at reasonable terms?
Because she has a start-up business, she needs a business mentor, preferably one who is familiar with the retail distribution business and who is not caught up in running his or her own business. Where can she find such a person?

Accepted Answer

The Answer of The National Association of Women Business Owners is...

Question 2

The media often portray big business as crushing small business. In fact, what is the relationship between big and small business more likely to be like?

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The answer of The media often portray big business as...

Question 3

You have a great idea for a new children's toy. Describe your financing options.

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The answer of You have a great idea for a...

Question 4

Describe the four major types of information presented in a business plan.

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The answer of Describe the four major types of information...

Question 5

List and briefly describe the major causes of small business failure and success.

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The answer of List and briefly describe the major causes...

Question 6

A new business can be started either from scratch or by buying an existing business. Which method seems best to you? Explain your answer.

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The answer of A new business can be started either...

Question 7

Briefly describe industries in which small businesses seem to be most effective and why this seems to be the case. In what area are small businesses least successful in comparison to large businesses?

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The answer of Briefly describe industries in which small businesses...

Question 8

Match between columns
                        Premises: Less freedom to make decisions about suppliers and materials
Characterized by entrepreneurs who try to launch businesses in their spare time
Obtains ongoing access to advice from experts
USAA insurance, marketed only to military families
Has a proven business plan
Next to Normal was the first Broadway show meted out via Twitter
Blinkx, early Internet video search
Can choose suppliers and employees without worrying about existing agreements
Characterized by entrepreneurs who assume common sense and hard work will lead to success
Coca-Cola's entry into South Africa
Southwest Airlines' cheap airfares and minimum service
Historical records answer questions about cash flow problems
Virgin Airlines improved customer service
More difficult to obtain information about projected revenues, cash flow
Entrepreneurs who are overly optimistic about when they will start earning a profit
Cisco shifting one third of engineers to Internet video projects
Has an established relationship with the community
This is needed to alert entrepreneurs to trouble
May not be able to negotiate favorable credit terms with suppliers

Accepted Answer

The Answer of Starting a business from scratch and Identifying is...

Question 9

When the business plan is finished, the entrepreneur must choose a structure. What does that mean?

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The answer of When the business plan is finished, the...

Question 10

How has e-commerce affected entrepreneurship?

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The answer of How has e-commerce affected entrepreneurship?...

Question 11

What are the latest trends in new business start-ups?  Why is it happening?

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The answer of What are the latest trends in new...

Question 12

Describe the role of entrepreneurship in society.

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Question 13

Describe the entrepreneurship process.

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Question 14

Imagine you are working for 3M, a company known for supporting innovation. In your private time you create a new product. Will you start your own company? Why or why not?

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The answer of Imagine you are working for 3M, a...

Question 15

List and briefly describe the four programs available from the SBA that are designed to help small business operators gain access to management expertise. What is the SBA's other primary function?

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The answer of List and briefly describe the four programs...

Question 16

Insead is a business school in France. Half of its alumni go on to start their own business or purchase one. Describe recent trends in small-business start-ups and how an Insead education could help an entrepreneur.

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The answer of Insead is a business school in France....

Question 17

The distinctive competencies of small business usually fall into three areas. Briefly discuss each of those areas.

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The answer of The distinctive competencies of small business usually...

Quiz 9: Managing Start-Ups and New Ventures