Question Details

MGT 101 Chapter 6--Managing Small Business Start-Ups PART 7

111.	The key problem, at the _____ stage of growth, is how to grow rapidly and finance that growth. 
 
A. 	existence
B. 	survival
C. 	takeoff
D. 	resource maturity
E. 	success

 
112.	ABC company has made substantial financial gains, but may start to lose the advantages of small size. Which stage of growth is this company experiencing? 
 
A. 	Resource maturity
B. 	Takeoff
C. 	Survival
D. 	Success
E. 	Existence

 
113.	The Swingset Company is at the stage where if financing is available and it is properly managed, rapid growth can occur. What stage is the Swingset Company experiencing? 
 
A. 	Resource maturity
B. 	Takeoff
C. 	Survival
D. 	Success
E. 	Start-up

 
114.	During the latter stages of entrepreneurial growth, the manager: 
 
A. 	must learn to delegate and decentralize authority.
B. 	must institute greater use of rules and procedures.
C. 	must hire sufficient management to handle the growth.
D. 	all of these.
E. 	none of these.

 
115.	Dawn, the finance manager of a sporting goods manufacturing company, uses accounting records to track monthly operational budgets to ensure that the company- financial targets are being met.  This is an important task in which stage of the managerial process? 
 
A. 	Delegating
B. 	Planning
C. 	Controlling
D. 	Leading 
E. 	Organizing

 
116.	Jamila is a successful artist and entrepreneur who makes all of her work out of recycled goods because she believes in sustainability.  She can be described as a social entrepreneur that is committed to:  
 
A. 	international human rights.
B. 	environmental protection.
C. 	children- rights.
D. 	industrial protectionism.
E. 	consumerism.

 
117.	Scenario - Holly and Trent

While many others dreamed about owning their own business, Holly Gabrel decided to do something about it. Holly knew that being self-employed required long hours and hard work, but with the help of her husband, Trent, Holly was positive that the hours and the work would be rewarded. First, she and Trent developed a new concept in sunglasses that could be used by athletes better than the sunglasses now on the market. Holly and Trent obtained a patent on their invention, and began production and marketing.

 With the entrepreneurial personality, Holly can be expected to have all of the following traits except:
a.	internal locus of control.
b.	tolerance for ambiguity.
c.	high need to achieve.
d.	patience.
e.	all of these.
	
 
 

 

 

 

 
 
118.	Scenario - Holly and Trent

While many others dreamed about owning their own business, Holly Gabrel decided to do something about it. Holly knew that being self-employed required long hours and hard work, but with the help of her husband, Trent, Holly was positive that the hours and the work would be rewarded. First, she and Trent developed a new concept in sunglasses that could be used by athletes better than the sunglasses now on the market. Holly and Trent obtained a patent on their invention, and began production and marketing.

 After fully developing their new business idea, Holly and Trent recognize the need to develop a business plan. Typical business plans will include all of the following, except:
a.	mission or vision of the company.
b.	information about the suppliers.
c.	policy for extending credit to customers.
d.	analysis of critical risks that threaten success.
e.	all of these should be included.
	
 
 

 

 

 

 
 
119.	Scenario - Holly and Trent

While many others dreamed about owning their own business, Holly Gabrel decided to do something about it. Holly knew that being self-employed required long hours and hard work, but with the help of her husband, Trent, Holly was positive that the hours and the work would be rewarded. First, she and Trent developed a new concept in sunglasses that could be used by athletes better than the sunglasses now on the market. Holly and Trent obtained a patent on their invention, and began production and marketing.

 If the business is legally Holly's, then the business form would be:
a.	proprietorship.
b.	partnership.
c.	corporation.
d.	chapter S42.5.
e.	none of these.