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Small/Start-up Business
Small/Start-up Business
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1
Small businesses _____________________.
employ fewer than 1 % of American workers.
contribute very little to the U.S. economy.
All of the above
can be more creative and take more risks than large companies.
2
characteristics of entrepeneurs
speaking other languages
slacking,dumb,bad,lazy,doesn't eat plums
eats plums,cool,hip with the kids
risk taker, hard working, motivated, initiative,outgoing
3
Which entrepreneur created this famous brand?
Howard Schultz
Gerry Ford
Sam Walton
Sergio Costa
4
Which famous entrepreneur is this?
Simon Branson
Richard Smith
Richard Jackson
Richard Branson
5
A small business is defined as having ___________ employees.
50 or less
300 or less
500 or less
100 or less
6
Characteristics of Entrepreneurs
Nice, smart, organized
Energetic, goal-oriented, creative
Charismatic
Interesting
7
Small business Administration
All the nations
Safe at home
My business needs money
Old Soldiers
8
What is the difference between a startup and a small business?
Small businesses have multiple locations, startups do not
Startups intend to grow larger compared to a small business
A small business has more employees than a startup
Startups have been in business longer
9
A small business loan
None
Owner's Equity
Liability
Asset
10
What financial measurement of a business does marketing have a primary focus on?
Expenses
Revenue
Profit
Market Share
11
The characteristic and skill of entrepreneur ?
Profitibility and directing
Fresibility and marketibility
Directing and marketing
Fresibility and planning
12
What would be the most appropriate method of advertising for a small business?
Television advertising
Daily Mail
Local paper
National radio
13
With small businesses, _______________ is everything!
Sales
Advertising
Prices
Location
14
Who is this famous entrepreneur?
Richard Branson
James Dyson
Mark Zuckerburg
Lord Sugar
15
What method of promotion wouldn't a small business use?
TV
Local Radio
Newspaper
Direct Mail
16
Small business..
>50 employees
>40
<50 employees
are dominant in the industry
17
The most risky type of small business is a
lifestyle business
start-up
franchise
side business
18
small loans & other financial service to individuals/ small businesses in developing countries
mircoeconomy
microloans
microfinance
small banking
19
It can be difficult for small businesses to
COMPETE
with multi-nationals
to finish a task
to work together
to enter into competition
to copy
20
Business-to-Business Marketing is:
The exchange of products and services between businesses
The exchange of ideas and business concepts
The exchange of the business model to be adopted
21
Which of the following is considered a characteristic rather than a skill of entrepreneurs?
Time Management
Resilience
Communication
Collaboration
22
characteristic of entrepeneur
problem solving
talkative
confident
competitive
23
Effective channels of communication are essential to small business success.
FALSE
TRUE
24
If taxes on small business increase
employees will expect an increase in wages
their profits will decrease
investments will increase
their profits will increase
25
Skill of an entrepreneur
Risk taker
Ambitious
Planning
26
Which of these is an entrepreneurial skill?
Good time management
Risk Takers
Proactive
Innovative
27
Which famous entrepreneur "retired" in 2006?
Warren Buffet
Oprah Winfrey
Bill Gates
Michael Dell
28
Small businesses
focus on products and services that meet the needs of very large groups.
must sell products and services at lower prices than large businesses.
have an advantage when customers want more individual attention
all of the above
29
A business can succeed without Marketing
True
False
30
Which of the following best describes the skill of an entrepreneur 'communication'?
Being able to effectively use communications devices
All of the above
Passing on information to others clearly and effectively
At all times able to communicate with someone via a telephone
31
Advantages of operating at a small business level:
Greater flexibility
Access to small-scale commercial equipment
Good local customer base
Need to be in an ideal location
32
Which skill is NOT a skill of a good entrepreneur?
Organisation skills
Decision making skills
Cleaning skills
Communication skills
33
Who is this famous entrepreneur?
Chanel
Elon Musk
Bill Gates
Steve Jobs
34
Small businesses:
must spend more on advertising than large retailers in order to compete
have risks associated with having only one product line
usually buy inventory in larger quantities than large retailers
all of the above are true
35
What is a small business?
Operated by 200 or more people
Operated by less than 5 people
Operate by 20-200 people
Operated by 5-20 people
36
Which essential skill of entrepreneurs is needed to understand how the economy works?
Basic business skills
Adaptability skills
Communication skills
Decision-making skills
37
The four functions of a small business are
recordkeeping, accounting, auditing, and finance
marketing, operations, human resources, and finance
advertising, promotions, public relations, and sales
research, development, marketing, and sales
38
Characteristics of Entrepreneurs
lazy, couch potatoes
don't work not a day in their life and don't work hard
There own business, hardworking, risk-taker, independent, confident
out on vacation all the time and don't do any work while owning a business
39
Not a characteristic/skill of entrepreneur
Decisive
Frugal
Confident
Motivated
40
Which skill of entrepreneurs is needed to interact well with customers, employees, and vendors?
Social skills
Communication skills
Technology and computer skills
Adaptability skills
41
Name this famous entrepreneur
Thomas Edison
Walt Disney
Benjamin Franklin
John D Rockefeller
42
Small businesses...
Are innovators of new products
Are not labor intensive
Are not inventors of new products
Are not suited for innovation
43
what famous entrepreneur started apple
Richard Branson
Bill Gates
Larry Page
Steve Jobs
44
a business or small company
Superman
Dad
firm
patient
45
Business to Business marketing is :
None
Both
marketing directly to the customer
businesses marketing to other businesses.
46
Who is this famous Entrepreneur?
Steve Jobs
Bill Anderson
Steve Gates
Bill Gates
47
A sole trader is a small business?
True
False
48
A business owned by a small number of people, usually two or three.
Partnership
Corporation
Sole Proprietorship
49
Which essential skill of entrepreneurs is needed to create a budget and financial statements?
Decision-making skills
Social skills
Math skills
Problem-solving skills
50
Small businesses
all of the above
must focus on products and services that meet the needs of a large group
have an advantage when customers want more individual attention
are generally forced to sell products and services at lower prices
51
Which of the following is not categorized as an important "people" skill of entrepreneurs?
a. Negotiation
b. Email management
d. Leadership
c. Listening
52
How many small businesses fail within their first year?
one third
three thirds
none
two thirds
