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

Banks are concerned that they won't be repaid.

Who would NOT be considered an entrepreneur?

a doctor who is employed by a hospital

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

What does a mission statement do?

tells the major goals of a business

What is the immediate future of virtual, or online, businesses?

More and more are coming on the scene.

What is true of a long-term investment?

The value of the investment fluctuates over time.

What is the most important reason many small businesses fail?

They sometimes don't start with good financial planning.

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Ch. 5 Entrepreneurship

15 termsStudBud Administration57 plays

Flashcards15 cardsFPractice quizPHost liveL

Questions 15

Answers

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

Ch. 5 Entrepreneurship Flashcards | StudBud

Ch. 5 Entrepreneurship

15 termsStudBud Administration57 plays

Ch. 5 Entrepreneurship

Flashcards15 cardsFPractice quizPHost liveL

Questions 15

Answers

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