Question Details

BUS 402 WEEK 2 QUIZ
 •	Question 1

	
	Primary cause of business failure is:			
	
			
•	Question 2

	Dirk wants to be in control. He's tired of taking orders from others and wants to feel a sense of accountability for the outcome of his work. Dirk displays the entrepreneurial characteristic of:			
	
•	Question 3

	
	Potential drawbacks of small business ownership include:			
	
			
•	Question 4

	When building a home-based business, it is important that the entrepreneur:			
	
			
•	Question 5

	
	A key characteristic of a successful entrepreneur is:			
	
			
•	Question 6

	
	Juan is able to work well in a constantly changing atmosphere and has little concern for what tomorrow will bring. Juan demonstrates which of the following characteristics of a typical entrepreneur?			
	
			
•	Question 7

	
	"Copreneurs" are marked by:			
	
			
•	Question 8

	
	Entrepreneurs seem to be characterized by:			
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•	Question 9

	
	Launching and running a business can be an extremely rewarding experience, but it also can:			
	
			
•	Question 10

	
	Which of the following trends is feeding the growth of entrepreneurial activity?			
	
			
•	Question 11

	
	Entrepreneurs start businesses for a number of reasons including:			
	
			
•	Question 12

	
	Which of the following corporate trends have contributed to the growth of entrepreneurship?			
	
			
•	Question 13

	
	The growth of entrepreneurship is being fed by:			
	
			
•	Question 14

	
	Researchers who study entrepreneurs have discovered that:			
	.
			
•	Question 15

	
	A significant benefit of starting your own company is:			
	
•	Question 16

	
	The small firm's "master plan" is its:			
	
			
•	Question 17

	
	Purchasing rival companies' products, taking them apart, and analyzing them is:			
	
			
•	Question 18

	
	________ are positive internal factors that contribute towards accomplishing the company's objectives.			
	
			
•	Question 19

	
	________ are specific measurable targets to be accomplished in a defined time period.			
	
			
•	Question 20

	
	Once the vision and mission are established, the entrepreneur needs to:			
	

			
•	Question 21

	A small business's "aggregation of factors that sets it apart from its competitors" is its:			
	
			
•	Question 22

	
	________ focuses everyone's attention and efforts on the same target market. It is an expression of what the owner believes in.			
	
			
•	Question 23

	Rather than attempting to serve the total market, the small firm pursuing a ________ strategy specializes in serving a specific target segment.			
	
			
•	Question 24

	
	Small firms pursuing a cost leadership strategy have an advantage in reaching customers whose primary purchase criterion is:			
	
			
•	Question 25

	
	A small business owner needs to remember that when it comes to employee involvement in the strategic planning process:			
	
			
•	Question 26

	
	Which of the following best expresses the relationship of a company vision to its mission?			
	
			
•	Question 27

	
	A competitive profile matrix:			
	
•	Question 28

	
	A mission statement should answer which of the following questions?			
	
•	Question 29

	
	The most successful strategic plans make the ________ focal.			
	
			
•	Question 30

	
	The strategic planning process for small businesses is: