Entrepreneurship I - Final Exam Review

Paying _______ is way that small businesses contribute to society.

• Wages
• Health care
• Taxes
• Worker’s compensation

An example of a barrier to small business/entrepreneurial success requires this in order to grow.

• Owner
• People
• Money
• Customer

A reason for entrepreneurial growth is:

• Entrepreneurs come up with new ideas
• Entrepreneurs try to do something that’s never been done before
• Entrepreneurs get venture capital funding
• All of the above

Entrepreneurial venture is quite different from small business in the following ways except:

• Innovation
• Information chaos
• Risk
• Amount of wealth creation

Time needed to plan and manage growth, running the business and delegating responsibility is what time of barrier to small business/entrepreneurial success?

• Customers
• Money
• Processes
• Owner

______________ are the wheel of the company. If not documented, you will constantly be reinventing.

• Customers
• Employees
• Owners
• Processes

A business that helps out education or funds a child in an orphanage is this type of contributor.

• Donators
• Sponsor
• Charitable institution
• Advisor

A business that is operated by one or a few individuals, employees <100 people, and represents 99.7% of all employers is called a:

• Small business
• Venture
• Entrepreneur
• Corporation

Good information should be correct, current and consistent. If it is isn’t, it is called:

• Planning
• Processes
• Information chaos
• Bad information

For a prospective entrepreneur, what is necessary to determine the existence of goods and services?

• Demographic changes
• Product standards
• Entrepreneurial discovery
• Raw materials