Entrepreneurship and Small Business Management MCQs and Notes

V

Vikash Gupta • 33.56K Points
Instructor I

Q 41. What is the definition of the term, 'social enterprise'?

(A) A commercial organization that seeks to combine a profit seeking motive with the provision of social benefits.

(B) A trading organization that is motivated by profit and a societal orientation.

(C) A social enterprise undertakes social marketing and can take a variety of legal forms, including co-operative, a limited company and a community interest company.

(D) A trading organization which serves a social purpose and which can take a variety of legal forms, including co-operative, a limited company and a community interest company.

P

Priyanka Tomar • 35.28K Points
Coach

Q 42. Which of the following is the correct definition of the term 'entrepreneur', as used by the OECD?

(A) Entrepreneurs are those people who start new businesses with the aim of making a profit.

(B) Entrepreneurs are those persons (business owners) who seek to generate value through the creation or expansion of economic activity, by identifying and exploiting new products, processes or markets.

(C) Entrepreneurs are those persons who seek to create value by starting new businesses with innovative products and services.

(D) Entrepreneurs are those people who seek to create value for local communities, people or customers by starting new ventures which exploit new products, processes or markets.

S

Shiva Ram • 30.44K Points
Instructor I

Q 43. Key features of a well written business plan would include all of the following except:

(A) financial plan

(B) description of the product

(C) an analysis of the market

(D) a review of the advertising firms analyzed

R

Ram Sharma • 193.86K Points
Coach

Q 44. Which of the following might be termed a disadvantage faced by the small business?

(A) a.greater flexibility

(B) b.greater ability to serve specialized markets

(C) c.extreme personal commitment of the owner

(D) d.more personal service

P

Priyanka Tomar • 35.28K Points
Coach

Q 45. The technical characteristics of the small business would include all of the following except:

(A) independently managed

(B) owned by an individual or a small group of investors

(C) based locally, even though the market might be widespread

(D) significant influence in its industry

P

Praveen Singh • 36.81K Points
Coach

Q 46. One study found that entrepreneurs tend to demonstrate all of the following traits except:

(A) opinionated

(B) emotionally aloof

(C) calm

(D) focused

A

Admin • 36.95K Points
Coach

Q 47. The primary reason entrepeneurs start companies is to:

(A) prove they could do it

(B) recover from a layoff

(C) create something new

(D) make money

S

Shiva Ram • 30.44K Points
Instructor I

Q 48. Which of the following was NOT one of the classifications of entrepreneurs presented in our text?

(A) Franchise entrepreneur

(B) Classic entrepreneur

(C) Multipreneur

(D) Intrapreneur

V

Vikash Gupta • 33.56K Points
Instructor I

Q 49. The distinction between an "entrepreneur" and "small business owner" , if made, revolves around:

(A) a.really nothing; they are truly one and the same

(B) b.the Small Business Administration definitions

(C) c.whether the business is an Internet based one or not

(D) d.the risk taking or re-invention of a business vs. someone who "simply" starts a

R

Ranjeet • 34.60K Points
Instructor I

Q 50. Out of the total population of people you approach, __________ is the percentage of people who buy.

(A) Mini plan

(B) Test marketing

(C) Hit rate

(D) Proof-of-concept