Chapter 5 Entrepreneurship

Front

Entrepreneurs might face which challenge when starting a business?

Back

All of the above (losing the business, start-up funds, being fully responsible)

Front

People who use the business plan include all of the following except: investors, customers, management team, the entrepreneur

Back

customers

Front

What does the company description section of a business plan include?

Back

The size, scope, and type of the business.

Front

Main reason people become an entrepreneur:

• to be creative
• to be the boss
• to work hard
• because they have to

Back

to be the boss

Front

More than 99 percent of businesses in the US are small businesses.

Back

True

Front

Characteristics of entrepreneurs included all of the following except: risk taker, goal-oriented, cost-conscious, creative.

Back

cost-conscious

Front

The vision and mission statement in the business plan state the guiding principles of a business.

Back

True

Front

Do small businesses only serve a small area and employ no more than 100 people?

Back

False

Front

Research to learn about the business's customers is included in which part of the business plan? Options: market analysis, operational plan, executive summary, marketing plan

Back

market analysis

Front

Does the executive summary include a brief account of key points located within the business plan?

Back

True