Entrepreunership

Which of the following is a recognized disadvantage of setting up as a start-up as compared with other routes to market entry?

Less satisfaction of the owners

There are more funds required

Less help from various agencies

There is a high failure rate

The business starts with a clean sheet

People who own, operate, and take risk of a business venture:

Aptitude

Employee

Entrepreneurs

Entrepreneurship

Which one is NOT a disadvantage of Entrepreneurship?

Risky

Uncertain Income

You are the boss

Work long hours

Which one is NOT an advantage of Entrepreneurship?

Can choose a business of interest.

You can be creative.

Make a lot of money.

You will make decisions alone.

An entrepreneur has the following personal characteristics except:

Self- confident

Goal-oriented

Creative

Over ambitious

__________ is one among the factors that influence entrepreneurship.

Life-path circumstance

Economic growth

Inheritance

Desire

An entrepreneur:

Manages a business for someone else

Owns controlling interest in the stock of a major corporation

Manages a business that operates in more than one country

Accepts the risk of starting and running a business

When looking at the advantages and disadvantages of starting various types of businesses, it apears that:

Businesses that are easy to start often offer the greatest potential for long term growth and profits

The greatest security is available in the manufacturing sector

Businesses that offer a chance for high profits tend to be difficult to start and hard to keep going

The reason the service sector is growing so rapidly is that service firms are easy to start, easy to keep going, and offer both growth opportunities and plenty of security

An examination of statistics about people who start their own businesses reveal that:

Many small business owners got their entrepreneurial idea from a previous job they held

It is rare for managers with experience working withing big corporations to start their own businesses

People who start their own businesses right after graduating from high school or college are generally more successful than those who first work for someone else

Most small business owners have a great deal of personal wealth

Which of the following suggestions would and experienced entrepreneur most likely give to someone who is thinking about starting their own business?

Starting a new business is always better than buying an existing firm

Even small businesses must keep accurate records

In order to keep costs low when the company is just getting started, wait at least a year before hiring and accountant or lawyer

Prior business experience is not really important in managing a new firm

All are raw materials for generating good ideas except:

Inheritance

Feeling and other stimuli

Observations

Experiences

The primary goals of a business plan are

To guide entrepreneurs as they launch their businesses

To help them acquiring the necessary financing to launch

All of the above

None

What measures how much out of every dollar of sales a company actually keeps in earnings.

Profit Margin

Burn rate

COGS

Revenue

Entrepreunership

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