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WorksheetsEntrepreneurship Exam
Total questions: 65
Worksheet time: 33mins
What is the first and primary question you should ask yourself before starting a small business?
Am I business savvy
Where will I get the money
Where should my business be located
Do I have what it takes
When starting a new business, you should be prepared for which of the following?
Six-hour workdays four to five days each week
Eight-hour workdays five to six days each week
Ten-hour workdays five to six days each week
Twelve-hour workdays six to seven days each week
According to the segment, which of the following is NOT a question asked in the strategy and development process?
Who will the business serve
What is the businesses vision and mission
Where will we buy equipment
How is the brand going to be developed
According to the segment, which of the following was NOT an issue in taking over a business?
Market share
Discretion
Selling price
Financing
Money needed to expand for additional inventory, equipment, marketing cost, employees, etc. is known as which of the following?
Competitive risk
Market analysis
Marketing
Expansion capital
Which section of the business plan identifies a target market?
Marketing and sales
Organization and management
Service and/or product line
Market Analysis
The phenomenon demonstrating individuals desire to get along and avoid conflict is known as which of the following?
Crowd concept
Groupthink
Dissonance repression
Controversy avoidance
Which section of the business plan should be the bulk of the plan?
Marketing and sales
Organization and management
Market analysis
Service and/or product line
Which type of market test engages the snowball effect?
Focus groups
Surveys
Networking
Interviewing
Which section of the business plan discusses how owner(s) plan to enter the industry and grow the business?
Marketing and sales
Organization and management
Market analysis
Service and/or product line
Which of the following is NOT one of the considerations to determine if you “have what it takes” to start a business?
Finances
Support
Experience
Family life
When conducting a market analysis, you should forecast the next __________.
One to three years
Three to five years
Five to eight years
Eight to ten years
What is the term for specific, time-sensitive accomplishments used to measure the short-term progress of an organization?
Goals
Missions
Plans
Objectives
Which of the following business structures work great for small businesses?
Bureaucratic
Hierarchical
Learning based
Divisional
Management profiles do NOT include which of the following?
A list of community relations
A description of managers functions in an organization
A list of industry relations
A description of family
With what office do owner(s) register the businesses name?
Office of Comptroller
Secretary of State
Small Business Administration
Courthouse
Site locators __________ the ability to promote the business and be successful.
Increase
Decrease
Which of the following is NOT suggested to prevent groupthink?
Use an experienced facilitator
Conduct multiple focus group sessions
Avoid members with dominant personalities
Assign one member to be devil’s advocate
The statement: “to increase our brand recognition” is an example of which of the following?
Mission statement
Goal
Objective
Tactic
Which of the following structures adopt the chain-of-command methodology?
Bureaucratic
Hierarchical
Learning based
Divisional
Which of the following is NOT an example of an organization?
An international corporation
A private school
A group of friends
A community non-profit affiliation
Which of the following is an example of an operative employee?
Regional manager
Head coach
Chairman of the board
Assembly line worker
Which of the following is an example of a middle manager?
Teller at a bank
Director of marketing
Chief executive officer
Salesperson in a retail store
Which of the following is the correct order of organizational levels?
Operative employees, supervisors, middle managers, top management
Operative employees, middle managers, supervisors, top management
Middle managers, operative employees, supervisors, top management
Middle managers, supervisors, operative employees, top management
Which of the following types of organizational structures is normally found in a smaller business with fewer employees?
Employer-based structure
Informal structure
Employee-based structure
Formal structure
Which of the following requires an individual to complete the same small task over and over again in order to contribute to a final project?
Span of control
Work specialization
Multitasking
Chain of command
Which of the following is the principle in which an employee should have only one supervisor to whom he or she is responsible?
Span of control
Authorization
Supervision
Chain of command
Which of the following types of authority gives the supervisor the right to direct the work of his or her employees without consulting others?
Line authority
Staff authority
Functional authority
Department authority
Which of the following types of authority allows input and suggestions from additional staff members, but does not guarantee implementation?
Department authority
Staff authority
Functional authority
Employer authority
Which of the following types of authority can create problems of overlapping authority?
Line authority
Employer authority
Functional authority
Department authority
Which of the following is NOT a disadvantage of a simple structure?
It only works well in small organizations.
It allows too much power at the top level.
It has few policies and rules to guide operations.
It usually costs a lot of money.
Authority is shared between two supervisors in which of the following types of business structures?
Matrix organization
Divisional structure
Employee-based structure
Customer-based structure
Which of the following types of business structures consists entirely of work groups and teams which perform an organization’s work?
Productivity structure
Divisional structure
Employee-based structure
Team-based structure
Which of the following is NOT one of the considerations when selecting a business structure?
Size of the business or organization
Worker skills and responsibilities
Business purpose
Customers’ demographics
Which of the following is an advantage of a divisional structure?
It often increases efficiency.
It frees headquarter staff from being concerned with everyday activities.
It helps reduce costs.
It can create duplication of activities and resources.
A(n) ____________ is a systematic grouping of individuals which has been brought together to accomplish a goal.
Informal structure
Organization
Concord
Affiliation
An organization’s products and services are the driving force in accomplishing its purpose.
True
False
Which of the following is NOT one of the four basic organizational levels?
Supervisors
Middle managers
Top management
Lower managers
__________ structures are laid-back and undefined.
Matrix
Learning
Informal
Staff
__________ is the principle in which an employee should have only one supervisor to whom he or she is responsible.
Chain of command
Span of control
Work specialization
Supervision
An assembly line is an example of __________.
Chain of command
Span of control
Work specialization
Supervision
__________ is the grouping of individuals into departments.
Centralization
Decentralization
Centralmentalization
Departmentalization
Simple structures are flexible and inexpensive, but are often only effective in small organizations.
True
False
A __________ structure is composed of self-contained units or divisions.
Simple
Divisional
Matrix
Learning
A __________ organization structure combines the elements of functional and product-based departmentalization.
Simple
Divisional
Matrix
Learning
According to Greg Bazar, which of the following should an entrepreneur expect from his or her job?
Taking complete responsibilities of a business
Creating original marketing plans
Developing a solid financial plan
Working together with other staff
Which of the following did Greg Bazar NOT mention as one of the daily responsibilities of an entrepreneur?
Developing and executing business plans
Making sure the financial health of the company is good
Giving solutions to every problem
Making sure customers’ needs are satisfied
According to Greg Bazar, which of the following is a challenge of an entrepreneur?
Finding a balance between work and family
Coming up with creative ideas
Building a solid business model
Leading a winning team
According to Greg Bazar, one should go back to school after leaving the industry after how long?
14 months
18 months
2 years
3 years
According to Greg Bazar, which of the following should an entrepreneur NOT do?
Update his or her knowledge in the field
Create a comfortable work environment for the employees
Develop and execute business plans
Take “no” as an answer
Jeremy Norman said he wanted to start his business in which way?
Progressively and indiscriminately
Organically and conservatively
Quickly and heedlessly
Slowly and deliberately
Which type of skills did Jeremy Norman say help him bring his team together to work effectively?
Leadership skills
Critical thinking skills
Marketing skills
Communication skills
Which of the following is one thing Jeremy Norman said his company is exploring which other similar companies do not do?
Providing hosting families discounts for regional venders based on strategic alliances
Producing original music for each event which is made into a CD for the hosting family
Creating custom art pieces for each event which become mementos for the hosting family
Allowing hosting families to design and build their own props and décor to be used in the event
Jeremy Norman said 95 percent of his job is which of the following?
Working with flowers to be used in events
Building props to be used in events
Creating special moments for families
Lifting, logistics and pre-planning
Which of the following is NOT one of the things Jeremy Norman suggested those interested in event planning study?
Spatial planning
Color theory
Interior design
Artistic points of view
Before opening his own Crossfit, Jason Brandiger was a(n) __________.
Personal trainer
Crossfit member
Experienced business owner
Banker
Jason Brandiger said he tries to do things which allow his coaches to grow personally while being a part of Capstone Crossfit.
True
False
Jason Brandiger said his business is based on which type of marketing?
Television advertisements
Extensive online presence
International distribution
Word of mouth
Capstone Crossfit was built with a large amount of financing.
True
False
Which of the following was Jason Brandiger’s advice for aspiring entrepreneurs?
Attend business development classes
Study companies which will be competitors
Find a mentor to help guide you
Get advice from friends and family
Daryl Braham said you have to understand __________ first.
Management processes
Business law
Your customers
Yourself
Daryl Braham said one of the key traits of an entrepreneur is the ability to __________.
Think outside the box
Multitask
Visualize the future
Break rules
Daryl Braham said one of the hardest challenges for an entrepreneur to overcome is __________.
Knowing when to take “no” for an answer
Understanding the legal aspect of business
Listening more than talking
Increasing efficiency
Tyrone Leslie said __________ is something you will never perfect, but must constantly continue to work to improve.
Product design
Distribution
Management
Communication
Tyrone Leslie said he measures success by the amount of money the company makes.
True
False
