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BUS/402 BUS402 BUS 402 WEEK 2 QUIZ

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BUS 402 WEEK 2 QUIZ • Question 1 Primary cause of business failure is: • Question 2 Dirk wants to be in control. He’s tired of taking orders from others and wants to feel a sense of accountability for the outcome of his work. Dirk displays the entrepreneurial characteristic of: • Question 3 Potential drawbacks of small business ownership include: • Question 4 When building a home-based business, it is important that the entrepreneur: • Question 5 A key characteristic of a successful entrepreneur is: • Question 6 Juan is able to work well in a constantly changing atmosphere and has little concern for what tomorrow will bring. Juan demonstrates which of the following characteristics of a typical entrepreneur? • Question 7 “Copreneurs” are marked by: • Question 8 Entrepreneurs seem to be characterized by: S • Question 9 Launching and running a business can be an extremely rewarding experience, but it also can: • Question 10 Which of the following trends is feeding the growth of entrepreneurial activity? • Question 11 Entrepreneurs start businesses for a number of reasons including: • Question 12 Which of the following corporate trends have contributed to the growth of entrepreneurship? • Question 13 The growth of entrepreneurship is being fed by: • Question 14 Researchers who study entrepreneurs have discovered that: . • Question 15 A significant benefit of starting your own company is: • Question 16 The small firm’s “master plan” is its: • Question 17 Purchasing rival companies’ products, taking them apart, and analyzing them is: • Question 18 ________ are positive internal factors that contribute towards accomplishing the company’s objectives. • Question 19 ________ are specific measurable targets to be accomplished in a defined time period. • Question 20 Once the vision and mission are established, the entrepreneur needs to: • Question 21 A small business’s “aggregation of factors that sets it apart from its competitors” is its: • Question 22 ________ focuses everyone’s attention and efforts on the same target market. It is an expression of what the owner believes in. • Question 23 Rather than attempting to serve the total market, the small firm pursuing a ________ strategy specializes in serving a specific target segment. • Question 24 Small firms pursuing a cost leadership strategy have an advantage in reaching customers whose primary purchase criterion is: • Question 25 A small business owner needs to remember that when it comes to employee involvement in the strategic planning process: • Question 26 Which of the following best expresses the relationship of a company vision to its mission? • Question 27 A competitive profile matrix: • Question 28 A mission statement should answer which of the following questions? • Question 29 The most successful strategic plans make the ________ focal. • Question 30 The strategic planning process for small businesses is: