What is the immediate future of virtual or online businesses?

more and more are coming on the scene

Why do people have trouble getting money to start their own businesses?

banks are concerned that they won't be repaid

What is a characteristic of the executive summary in a business plan?

it tells the most important points of the business plan

What is the most important reason for having a business plan?

to help you focus on how to succeed in your new venture

Who would NOT be considered an entrepreneur

a doctor who is employed by a hospital

What is the most important reason many small businesses fail?

entrepreneurs may not start with good financial planning

What does a mission statement do?

tells the major goals of a business

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ENT - Chapter 5

15 termsStudBud Administration264 plays

entrepreneurship

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Questions 15

Answers

1
What is the immediate future of virtual or online businesses?
no one can predict what will happen next
more and more are coming on the scene
they are on the decline
people aren't as interested in starting them now
2
Which part of a business plan describes management and tells who will run the firm?
organizational
growth
financial
operational
3
Which would most likely describe a successful entrepreneur?
lazy
shy
bossy
self-starter
4
Why do people have trouble getting money to start their own businesses?
banks want to own the entrepreneur's business
banks are concerned that they won't be repaid
banks give more money to corporations
banks don't give loans to entrepreneurs
5
What is a corporation?
a business with many owners
a business owned by two people
a business owned by one person
a business bought out by someone new
6
What is a characteristic of the executive summary in a business plan?
it discusses how you will fill in any gaps in expertise
it tells the most important points of the business plan
it describes your service plan
it contains details
7
What other piece of the business plan is related to the market analysis?
mission statement
industry overview
marketing plan
competitive analysis
8
Which is often especially important to a small business
creativity
electronics
digitizing
accounting
9
What is the most important reason for having a business plan?
to make a checklist
to help you focus on how to succeed in your new venture
to do market research
to find out what to produce in your business
10
Which is NOT a reward of entrepreneurship?
doing what you enjoy
risking capital resources
being the boss
being creative
11
Which is NOT a small business
a web store
a fast food chain
a delivery service consisting of ten teens with bikes
a babysitting team
12
Who would NOT be considered an entrepreneur
a doctor who writes a book in his spare time
a doctor who works as a consultant
a doctor who starts own practice
a doctor who is employed by a hospital
13
What is the most important reason many small businesses fail?
entrepreneurs may not start with good financial planning
entrepreneurs feel insecure
entrepreneurs work alone too often
entrepreneurs get bought out by bigger companies
14
What does a mission statement do?
reflects the purpose of the company
tells the major goals of a business
describes the company
tells your business concept
15
What is a quahog?
a type of edible grain
a motorcycle gang
a clam
a farm animal

ENT - Chapter 5 Flashcards | StudBud