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Entrepreneurship Chapter 3 Review: Recognizing Opportunity Flashcards | StudBud
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Entrepreneurship Chapter 3 Review: Recognizing Opportunity
Entrepreneurship Chapter 3 Review: Recognizing Opportunity
30 terms
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StudBud Administration
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78 plays
Entrepreneurship class using Entrepreneurship & Small Business Management book
Flashcards
30 cards
F
Practice quiz
P
Host live
L
Questions
30
Answers
1
A business broker is someone whose job is to bring buyers and sellers together.
false
true
2
_____ are intangible things that businesses do for us that enhance our lives.
corporate ventures
services
outsourcing
goods
3
Sometimes reading about a/an _____ field can spark an idea that applies to your field.
unrelated
educational
philosophical
similar
4
_________is contracting with other companies for services.
Outsourcing
Strategic Alliances
Home-Based Businesses
Corporate Venture
5
A ________businesses that conducts business by the means of the internet.
strategic alliance
internet
home-based
outsourcing
6
Your _____ are the beliefs and principles by which you choose to live.
code of ethics
corporate ideas
core values
mission statement
7
Forming a partnership with another company is known as a _____.
strategic alliance
melding
joint venture
corporation
8
When you _____, you think freely to generate ideas.
interface
daydream
brainstorm
network
9
____ is a new venture started inside a large corporation.
strategic alliance
incorporate
corporate
outsourcing
10
Continued customer loyalty after you take over an existing business is called _____.
inheritance
goodwill
customer base
personal relationship
11
A/An _____ is someone whose job is to bring buyers and sellers together.
business broker
agent
business partner
manufacturer's representative
12
Some nonprofit businesses can also qualify to be tax-exempt.
True
False
13
Which of the following are some of the major trends for the creation of new businesses?
growth of home-based businesses
new kinds of strategic alliances
all of the choices given
increased emphasis on outsourcing
14
________is contracting with other companies for services.
corporate venture
outsourcing
strategic alliances
15
Outsourcing INCREASES overhead investment or debt.
true
false
16
A disadvantage of a family business is _____.
family working together as a team can achieve more
that business owners can never get away from the business
the trust and togetherness that family members have
17
To identify consumer markets, you should be aware of _____.
services
investors
technology
demographic changes
18
___ is a small specialized market.
non profit
giche
niche
venture
19
The first step in the entrepreneurial process is to _____.
find a backer
secure financing
find a strategic alliance
identify a business opportunity
20
In today's economy, you can outsources just about any business activity.
false
true
21
_________is finding new ways of doing things.
creativity
outsourcing
brainstorming
innovation
22
One way to prevent some of the problems that family businesses face is to _____.
establish clear lines of responsibility
hire a business broker
be creative
accept all the responsibilities yourself
23
American City Journals stated small businesses that use the internet have grown ___% faster
26
56
36
46
24
____ means that a business makes a profit but the owner must keep the profits in the business.
none of the above
strategic alliance
non profit
outsourcing
25
_____are personal characteristics that describe a population.
personality
demographics
niche
26
In the late 1990's, about 41 million businesses were being conducted from____________.
Internet Businesses
Outsourcing
Home-Based Businesses
Service Businesses
27
______magazine is a periodical published for specific types of businesses or industries.
trade show
specialty
trade
28
A/An _____ is a legal agreement to begin a new business in the name of a recognized company.
venture
franchise
contract
investment
29
Before you can determine if a new venture is feasible, you must prepare _____.
the office
taxes
employees
a business plan
30
Which one of the following is NOT one of the 8 entrepreneurial trends?
Corporate Ventures
Insourcing
Internet Businesses
Home-Based Businesses
