Entrepreneurship & Small Business Mngt

________ is usually characterized by ownership (inclusive of owner’s equity) and asset base (cash, land, equipment, stock inventory) and yearly sales revenue.

_______ is a process of innovation and new-venture creation

Which of the following are characteristic of a small business?

i Independently owned, operated & financed

ii Motivated by innovation

iii Preference for stability

iv New start-ups propelled by ideas

• i,ii,iii,iv

• i & ii

• i & iii

• i & iv

SPOT THE DIFFERENCE:

characterized as an organization engaged in pursuing opportunities.

• Entrepreneurship

• Small Business

SPOT THE DIFFERENCE:

pursues growth and profit.

• Entrepreneurship

• Small Business

SPOT THE DIFFERENCE:

independently owned, operated and financed

• Entrepreneurship

• Small Business

SPOT THE DIFFERENCE:

characterized as having less than 100 employees

• Entrepreneurship

• Small Business

SPOT THE DIFFERENCE:

motivated by innovation and seeks out new opportunities in the environment.

• Entrepreneurship

• Small Business

SPOT THE DIFFERENCE:

not oriented towards new or innovative practice; new start- ups; and job creation..

• Entrepreneurship

• Small Business

SPOT THE DIFFERENCE:

not dominant players in the industry.

• Entrepreneurship

• Small Business