Question Details

MGT 101 Chapter 6--Managing Small Business Start-Ups PART 4

51.	An entrepreneur: 
 
A. 	assumes the risks of the business.
B. 	reaps the rewards of the business.
C. 	assumes the financial and legal risks of ownership.
D. 	recognizes a viable idea for a business product or service and carries it out.
E. 	all of these.

 
52.	Tracy's Trikes believes that each employee should enjoy the idea of working on something that is new, creative, or personally meaningful. Tracy's Trikes exemplifies which of the categories of small business owners? 
 
A. 	Optimizers
B. 	Idealists
C. 	Hard workers
D. 	Sustainers
E. 	Jugglers

 
53.	Connie, a single mother and home-business entrepreneur, enjoys running her own business.  However, because she is busy balancing work and family, she does not foresee her home business growing significantly in the near future. Connie can best be described as what type of entrepreneur? 
 
A. 	Idealist
B. 	Sustainer
C. 	Optimizer
D. 	Juggler
E. 	Hard worker

 
54.	If a small business owner enjoys the chance to balance work and personal life, he would be considered a(n) _____. 
 
A. 	idealist
B. 	optimizer
C. 	hard worker
D. 	juggler
E. 	sustainer

 
55.	Which of the following are high-energy people who enjoy handling every detail of their own businesses? 
 
A. 	Jugglers
B. 	Idealists
C. 	Sustainers
D. 	Optimizers
E. 	Hard workers

 
56.	Which of the following is the type of business that most entrepreneurs start? 
 
A. 	Retail
B. 	Manufacturing
C. 	Service
D. 	All of these
E. 	Retail and manufacturing only

 
57.	Today, inspired by the growth of companies such as Amazon.com, entrepreneurs are flocking to the _____ to start new businesses. 
 
A. 	Small Business Administration
B. 	Internet
C. 	bookstore
D. 	mall
E. 	Internal Revenue Service

 
58.	In 2012, which country had the largest percentage of individuals age 18 to 64 that were active in starting or managing a business? 
 
A. 	China
B. 	Peru
C. 	Columbia
D. 	Angola
E. 	Dominican Republic

 
59.	The Small Business Association (SBA) reports that small businesses create at least _____ percent of America- new jobs. 
 
A. 	30
B. 	32
C. 	46
D. 	64
E. 	82

 
60.	Small businesses represent _____ percent of all firms and employ about half of all private sector employees. 
 
A. 	87
B. 	22
C. 	98
D. 	54
E. 	72

 
61.	Small firms that file for patents typically produce _____ more patents per employee than large patenting firms. 
 
A. 	twice
B. 	3 to 4 times
C. 	6 to 7 times
D. 	9 to 10 times
E. 	13 to 14 times

 
62.	What percentage of women entrepreneurs have employees? 
 
A. 	Five 
B. 	Ten
C. 	Twenty
D. 	Fifty
E. 	Eighty

 
63.	Which of the following demographic factors distinguish entrepreneurs from others? 
 
A. 	They are likely the youngest child in their family.
B. 	Most entrepreneurs launch their businesses between the ages of 35 and 55.
C. 	Their parents likely worked for large companies.
D. 	They are likely the children of immigrants.
E. 	All of these.

 
64.	In the United States, minorities own _____ firms. 
 
A. 	5.8 million
B. 	1.3 billion
C. 	872,000
D. 	8.9 million
E. 	2.9 million

 
65.	Celine has an unwavering belief in her new start-up company.  She possesses intense focus and takes unconventional risks to make her new company successful. These examples most closely relate to which personality trait of entrepreneurs? 
 
A. 	Need to achieve
B. 	Patience
C. 	Tolerance for ambiguity
D. 	High energy level
E. 	Self-confidence

 
66.	Andrew, a young entrepreneur, feels sure about his ability to win customers through his people skills.  He is comfortable with his ability to handle technical details and feels that he is able to keep his business moving. This most closely relates to which personality trait of entrepreneurs? 
 
A. 	Need to achieve
B. 	Impatience
C. 	Tolerance for ambiguity
D. 	High energy level
E. 	Self-confidence

 
67.	Which of these means that people are motivated to excel and pick situations in which success is likely? 
 
A. 	External locus of control
B. 	Tolerance for Ambiguity
C. 	Awareness of passing time
D. 	Internal locus of control
E. 	Need to achieve

 
68.	Ginger likes to set her own goals, which have an intermediate level of difficulty. Which of the entrepreneurial characteristics does she probably possess? 
 
A. 	A high need for achievement
B. 	A high need for power
C. 	An external locus of control
D. 	An inability to deal with uncertainty
E. 	Intolerance for ambiguity

 
69.	Melissa is a very good middle manager. However, she has long wanted to open her own business. Which of Melissa's characteristics is not consistent with entrepreneurship? 
 
A. 	Melissa has high self-confidence.
B. 	Melissa tends to put things off till later.
C. 	She is untroubled by uncertainty.
D. 	She has a high energy level.
E. 	She has high need to achieve.

 
70.	Which of the following is the psychological characteristic that allows a person to be untroubled by disorder and uncertainty? 
 
A. 	Tolerance for ambiguity
B. 	External locus of control
C. 	Need to achieve
D. 	Awareness of passing time
E. 	Internal locus of control