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Exam 6: Entrepreneurship

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Question 41

Multiple Choice

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In the context of successful business models for e-commerce, the ________ model involves charging monthly or annual fees for website visits or access to website content.

A) transaction fee
B) advertising support
C) intermediary
D) affiliate
E) subscription

F) A) and B)
G) D) and E)

Correct Answer

verified

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Question 42

Multiple Choice

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Chris's new business is failing. In desperation, he asks his most experienced investor, Gerardo, for advice. Gerardo says, "Chris, I'm glad you asked. As a(n) ________ investor, I've seen other businesses struggle, and I believe that I can help your business recover. In fact, I'll probably be willing to make further investments if I can have some say-so in what steps you take to recover."

A) sophisticated
B) nonprofessional
C) affiliate model
D) intermediary model
E) junior

F) All of the above
G) A) and D)

Correct Answer

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Question 43

Multiple Choice

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A(n) ________ is an enterprise having fewer than 500 employees, independently owned and operated, not dominant in its field, and not characterized by many innovative practices.

Syd works as a technician for a large manufacturer of biomedical equipment. He has discovered a technique to produce composite materials more efficiently. The company encourages its employees to pursue new ideas on company premises. Syd's company supports

Robinson Linens has made the decision to "go public" through an initial public stock offering (IPO) . Robinson Linens undertook this process to

Susan has been planning to open a child care center and has been asked by the small business center to create a document that includes the market, strategies, and future directions. This document is a(n)

________ comes from people's judgment of a company's acceptance, appropriateness, and desirability, generally stemming from company goals and methods that are consistent with societal values.

The recovery and rebuilding efforts on the Texas Gulf Coast due to Hurricane Harvey's devastation will require years. Many volunteers and companies have temporarily moved into the area to provide help. To provide housing for workers for these organizations, entrepreneur Stu Lester developed Temp-Lodging Corporation. Stu's business opportunity was created as a result of

________ is the first step toward building organizational support for an idea that involves explaining the idea and seeking approval to look for wider support.

Describe the major management challenges associated with entrepreneurship.

RanMark Corp. brings buyers and sellers together and charges a commission for each sale. RanMark Corp. is a(n) ________ business model.

In the context of entrepreneurial orientation, an organization with a tendency of ________ grants individuals and teams the freedom to exercise their creativity, champion promising ideas, and carry them through to completion.

Paul is more deliberate and slower to act, and he tends to avoid risk. Paul is better suited to be a(n) ________ than a(n) ________.

Describe some of the characteristics that make a person more likely to succeed as an entrepreneur.

How can an entrepreneur generate legitimacy?

Companies should tolerate, and even encourage, informal efforts in which employees work to create new products and processes of their own choosing and initiative. Such efforts are known as

In the context of common management challenges, leadership deteriorates into micromanagement when entrepreneurs fail to

The success of an entrepreneurial venture is often jeopardized by the death of its founder. ________ is an important measure to minimize this problem.

In the context of the entrepreneurial strategy matrix, describe the four kinds of new ventures.

________ involves creating new systems, resources, or processes to produce new goods or services and/or serve new markets.