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Q:
Which percentage of recruiters and human resource professionals report that they research job applicants online using Facebook?
a. 92%
b. 58%
c. 31%
d. 20%
Q:
The Americans with Disabilities Act requires employers of at least ____ employees to make ____ adaptations to facilitate the employment of individuals protected by the act.
a. 50, minimal
b. 15, reasonable
c. 100, specific
d. 10, verifiable
Q:
Nancy just added her eighth employee, a human resource manager who will be responsible for all future hiring, training, retaining, and firing decisions. The company is in a ________ organizational structure.
a. delegated
b. line-and-staff
c. line
d. span of control
Q:
A hesitancy by an entrepreneur to move through the various organizational stages can
a. limit the rate of business growth.
b. be interpreted as evidence of creativity.
c. normally provide a competitive edge to the firm.
d. provide a spark to the business because of the spontaneity it introduces.
Q:
James is talking to another supervisor about the number of employees who report directly to him. James is talking about his:
a. span of control.
b. informal organization.
c. organizational structure.
d. chain of command.
Q:
Lindas high standards and expectations of employee excellence is typical of ____ leaders.
a. team builder
b. general
c. populist
d. paragon
Q:
Vivian would like to improve two-way communication with her subordinates. Which of these ideas would be most helpful her?
a. Post daily updates on the bulletin board.
b. Announce daily production requirements over the public address system.
c. Engage employees in conversations to discuss their ideas and problems
d. Manage by walking around.
Q:
Margaret has launched a new event planning company with four employees. With the growth in sales and personnel, the next step of growth will involve
a. increased direct supervision.
b. improved quality management.
c. intermediate supervision.
d. more formal policies.
Q:
The consulting resources of universities are made available to small business firms by
a. student consulting team programs.
b. SCORE.
c. business incubators.
d. management consultants.
Q:
Susan has seen her retail shop grow to the point that she has designated supervisors for the office and two selling areas. Her shops stage of growth is
a. formal organization.
b. intermediate supervision.
c. one-person operation.
d. player-coach.
Q:
The organizational structure of small companies is often characterized by
a. economy.
b. clarity.
c. practicality.
d. use of staff positions.
Q:
Marvin has just launched a consulting business. Business has been slower than expected. What advice would you give Marvin?
a. Post an ad in the local newspaper.
b. Tap into his personal and professional network.
c. Find a different line of work.
d. Take a full-time position with a company while he builds his business part-time.
Q:
If a company successfully creates properly functioning self-managed teams among employees, the supervisors will
a. feel threatened by her leadership approach to teams.
b. likely become fewer in number.
c. may attempt to delegate mundane tasks to the teams.
d. need to maintain closer supervision.
Q:
A positive solution should be pursued in negotiations whenever it is feasible to do so.
a. True
b. False
Q:
The maximum number of employees who can be supervised effectively by a capable manager is four.
a. True
b. False
Q:
Today, companies tend to focus on developed countries as they search out international markets.
a. True
b. False
Q:
The motivation to take domestic products to foreign markets is more relevant today than in the past.
a. True
b. False
Q:
Increasingly, small firms find that they must locate their operations abroad if they are to keep their contracts as suppliers to large companies.
a. True
b. False
Q:
The Council on Foreign Relations can assist a company in trade laws and payment issues related to global markets.
a. True
b. False
Q:
While a small firm can have global operations, size will limit growth.
a. True
b. False
Q:
A cross-border acquisition is less demanding than a greenfield venture.
a. True
b. False
Q:
China, India and Russia are classified as moderately challenging according to the World Banks Ease of Doing Business Index.
a. True
b. False
Q:
While opening an overseas sales office can be effective, small businesses should wait until sales in the local market are great enough to justify the move.
a. True
b. False
Q:
International outsourcing and offshoring are increasingly being used by companies going global to cut costs.
a. True
b. False
Q:
What options do small businesses have when dealing with political risks globally?
Q:
An intermediary that works for foreign firms that are interested in buying U.S. products and is paid a commission for its services is called a(n) _____.
a. export agent.
b. export trading company.
c. piggyback marketer.
d. confirming house.
Q:
Dustin had contracts for web designs in Japan and France and therefore has decided to start a business. The company will be reaching an international market strictly through online operations. Based on this type of global business, what organizations could offer advice to make this business feasible?
Q:
According to the 2013 BRIC Markets, which country has the highest GNI per capita?
a. Brazil
b. China
c. India
d. Russia
Q:
Describe the role trade intermediaries play in assisting small businesses that choose to go global. Identify the types of trade intermediaries that are most useful to small businesses.
Q:
A company that operates a customer service call center is likely to contract with a company in India to
a. capitalize on the special features of location.
b. cut costs.
c. expand its market.
d. gain access to resources.
Q:
The expansion of international business
Q:
When the exchange rate for a currency rises relative to that of another country, the rising currency
a. has decreased in value relative to the other currency.
b. has increased in value relative to the other currency.
c. has been devalued by its government.
d. reflects increased political risk in its home country.
Q:
Selling products produced in another country to buyers in the home country
Q:
Seeking to extend the product life cycle by expanding into international markets has become a less effective strategy because
a. customer preferences have become more similar around the world.
b. income levels in many countries are insufficient to support this strategy.
c. international delivery systems cannot handle the variety of company distribution systems.
d. product life cycles have already been growing over the years.
Q:
Selling products produced inthe home country to customers in another country
Q:
What are five website design guidelines?
Q:
What are the advantages and disadvantages of using salary and commission as methods of compensating salespeople?
Q:
List and briefly explain the four common methods of earmarking funds for promotion.
Q:
William is analyzing his financials and determining a budget for promotional activities for his company. He has data from last years budget, past financial statements, projections for next years budget as well as a general idea of what the competition spent last year. How should he determine the new budget and what concerns should he be aware of during the process?
Q:
Patty has been in operation for 5 years with a seasonal business, Pattys Pickin Patch, offering U-Pick organic vegetables in season. Other services include hay rides around the farm and a corn maze. For each basic type advertising, discuss what Patty would use and how would these types benefit the company?
Q:
Tori is the lead singer for the band Rockin' Rebels. The band would like to have items at their live shows to gain exposure and attract fans to their merchandise table. What promotion items should Rockin' Rebels use and what advantages will this provide?
Q:
Interacting online with other users who share common interests
Q:
A blend of nonpersonal, personal, combined, and special forms of communication aimed at a target market
Q:
Delivery of a firms message by electronic mail
Q:
An inclusive term for any promotional technique other than personal selling and advertising that stimulates the purchase of a particular product or service
Q:
A word, phrase, or image that a user may click on to go to another part of a document or website or to a new document or website
Q:
June has always believed that the resale furniture store doesnt have quality furniture as it has been used by others. This _____ may cause her to avoid the store and shop at a store specializing in new furniture across town.
a. attitude
b. cognitive dissonance
c. motivation
d. perceptual categorization
Q:
A customers email address would most likely be stored in which category of a customer profile?
a. Personal information
b. Demographics
c. Psychographic data
d. Transactions
Q:
Freida used a discount coupon to purchase a new product. In which category of the customer profile should this be recorded?
a. Personal Information
b. Lifestyle data
c. Profile of past responses
d. Transaction data
Q:
Individual processes that ultimately give meaning to stimuli that confront consumers are known as
a. perceptions.
b. motivations.
c. attitudes.
d. opinions.
Q:
What should entrepreneurs understand about sociological influences on customers?
Q:
CRM is the business version of
a. the Ten Commandments.
b. the Bill of Rights.
c. the Golden Rule.
d. Maslows Hierarchy of Needs.
Q:
Discuss the importance of why small businesses should offer personal attention. What are suggestions for implementing such procedures.
Q:
Aspiring mystery writers study Agatha Christie to learn the art of writing that genre. In this case, Christie would be considered:
a. how a subcultural analysis impacts marketing efforts.
b. an opinion leader with which businesses want to affiliate.
c. a reference group for mystery writers
d. a social class because of her lifestyle choices.
Q:
Sally is a new customer at Fit and Strong, a training facility for marathon athletes. Upon entering the business, the receptionist asked Sally to fill out a customer profile questionnaire in order to collect data for company files. What information is likely to be asked of Sally?
Q:
Juans belief that all low calorie sodas taste awful is an example of
a. cognitive dissonance.
b. the elimination of an item in an evoked set.
c. perceptual categorization.
d. unilateral indifference.
Q:
Greg is a retired NBA basketball player who has returned to his small hometown to open a basketball gym. There are no other businesses in his area like his concept and he wants to reach his customers. What psychological influences on his consumers does Greg need to consider before opening his location and how will they apply to the basketball gym?
Q:
The three types of innovative activity include all of the following EXCEPT:
a. invention.
b. imitation.
c. implementation.
d. innovation.
Q:
Autonomous strategic behavior results in internal innovations that are highly consistent with the firm's current strategy.
a. True
b. False
Indicate the answer choice that best completes the statement or answers the question.
Q:
Induced strategic behavior does not result in true innovation because it is a top-down process rather than a bottom-up process.
a. True
b. False
Q:
Research has shown that internationally diversified firms are generally more innovative.
a. True
b. False
Q:
As a process, entrepreneurship results in the "creative destruction" of existing products (goods or services) or methods of producing them and replaces them with new products and production methods.
a. True
b. False
Q:
Venture capital companies
a. are often limited partnerships that raise capital from other investors.
b. provide for the financing needs of large companies only.
c. are corporations or partnerships that operate as liquidation groups.
d. no longer operate in the U.S. market.
Q:
Bill Kroganski is the owner of a moderately successful industrial services firm. His reaction to the introduction of a new process technology that could be a direct competitor to the process his firm utilizes is fear. He spends his time considering ways to isolate his firm from this new technology. Bill has characteristics consistent with the entrepreneurial mind-set.
a. True
b. False
Q:
Assets such as the quality of a firm's employees are considered tangible in nature and thus have substantial value as collateral.
a. True
b. False
Q:
Corporate entrepreneurship describes the opportunity seeking and exploitation of innovations in new start-up enterprises.
a. True
b. False
Q:
Most large, complex firms innovate through cooperative strategies or strategic alliances, but not through internal activities.
a. True
b. False
Q:
Williams Alternative Power, Inc. a company developing solar panels, is applying for a loan. The research the company has done for the manufacturing process would be a(n) _____ asset for the loan evaluation.
a. collateral
b. intangible
c. revolving
d. tangible
Q:
When a stock sale is restricted to private placement, an entrepreneur can avoid many of the demanding requirements of the securities laws.
a. True
b. False
Q:
For firms to be entrepreneurial, they must stress individualism in their employees above all other characteristics.
a. True
b. False
Q:
Entrepreneurial ventures often produce more novel innovations than do their larger, more established counterparts.
a. True
b. False
Q:
Floyds income statement showed for the current year his company had an operating income of $45,000 and his balance sheet showed total assets of $300,000. His return on assets is _________ percent.
a. 30
b. 15
c. 12
d. 6
Q:
For every firm, there is a "right" answer to the question of balancing debt and equity, and it is important that the small business owner find that balance.
a. True
b. False
Q:
Rosalie has become totally preoccupied by her idea for creating a business leasing horses to riders on the same principle as time-shares on condominiums. Rosalie is researching the legal, financial, and insurance aspects of her idea and is preparing a prospectus to take to banks to ask for a business loan. Rosalie's significant other is complaining that she "sleeps, eats, and drinks" this concept. Rosalie has the entrepreneurial characteristic of passion.
a. True
b. False
Q:
Chuck, Marie and Tommy are a group of friends who have formed a LLC to raise capital for an investment in 20 franchises of Rigbys, a new sports bar concept. Tommy will be the general partner; Chuck and Marie will be limited partners. These three are:
a. business angels.
b. formal venture capitalists.
c. creditors.
d. informal venture capitalists.
Q:
Borrowing money rather than issuing common stock typically increases the potential for higher rates of return to owners.
a. True
b. False
Q:
Cameron has applied for a loan to expand his young business. When bankers look for evidence of whether he will be able to repay a loan, they usually base their assessment on
a. what Camerons firm has done in the past.
b. what Cameron says the firm will do in the future.
c. the opinion of investment analysts.
d. the business plan of the enterprise.
Q:
Qualified small businesses that cannot obtain business loans through normal lending channels can get loans directly from the SBA through its 7(a) Loan Guaranty Program.
a. True
b. False
Q:
If the firms rate of return on its assets is _____ than the cost of borrowing, then the owners rate of return on equity will _____ as the firm uses _____ debt.
a. less, decrease, less
b. greater, decrease, more
c. greater, increase, more
d. less, increase, more
Q:
Cash flow can be projected in two ways: using the income statement to project cash flows or preparing a cash budget.
a. True
b. False