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Mod 8-Entrepreneurship Flashcards | StudBud
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Mod 8-Entrepreneurship
Mod 8-Entrepreneurship
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1
According to the author, what would be the most important reason to be an entrepreneur?
To be compensated well above the norm.
To be idolized.
To be among the elite.
To be your own boss.
2
In a business plan, what section contains detailed description of company, problem/op, proposed solution & comp adv?
Organization Management
Market Analysis
Service and Product Line
Company Description
3
What are the underlying factors of the causes for small business failure?
Fail to attract the right business partner
Economic recession
Government regulations
Fail to do research, analyze, and projections, attitude & self-awareness
4
The SBA recommends that a business plan addresses the following major elements EXCEPT:
IT analysis
Company description
Market analysis
Funding request
5
What is the most important common quality that captures the essence of “entrepreneur”?
Bias for action
Promise of opportunity
Viewer through a different lens
Creator of ideas
6
The advantage to starting a small business is the freedom to make your own decisions. Also a price to pay – what is it?
The founder owns all of the responsibility for expectations and results.
The founder must maintain accurate records.
The founder sets the hours of operation for the business.
The founder is responsible for selecting employees.
