BUS 402 WEEK 2 QUIZ â€¢ Question 1 Primary cause of business failure is: â€¢ Question 2 Dirk wants to be in control. He’s tired of taking orders from others and wants to feel a sense of accountability for the outcome of his work. Dirk displays the entrepreneurial characteristic of: â€¢ Question 3 Potential drawbacks of small business ownership include: â€¢ Question 4 When building a home-based business, it is important that the entrepreneur: â€¢ Question 5 A key characteristic of a successful entrepreneur is: â€¢ Question 6 Juan is able to work well in a constantly changing atmosphere and has little concern for what tomorrow will bring. Juan demonstrates which of the following characteristics of a typical entrepreneur? â€¢ Question 7 “Copreneurs” are marked by: â€¢ Question 8 Entrepreneurs seem to be characterized by: S â€¢ Question 9 Launching and running a business can be an extremely rewarding experience, but it also can: â€¢ Question 10 Which of the following trends is feeding the growth of entrepreneurial activity? â€¢ Question 11 Entrepreneurs start businesses for a number of reasons including: â€¢ Question 12 Which of the following corporate trends have contributed to the growth of entrepreneurship? â€¢ Question 13 The growth of entrepreneurship is being fed by: â€¢ Question 14 Researchers who study entrepreneurs have discovered that: . â€¢ Question 15 A significant benefit of starting your own company is: â€¢ Question 16 The small firm’s “master plan” is its: â€¢ Question 17 Purchasing rival companies’ products, taking them apart, and analyzing them is: â€¢ Question 18 ________ are positive internal factors that contribute towards accomplishing the company’s objectives. â€¢ Question 19 ________ are specific measurable targets to be accomplished in a defined time period. â€¢ Question 20 Once the vision and mission are established, the entrepreneur needs to: â€¢ Question 21 A small business’s “aggregation of factors that sets it apart from its competitors” is its: â€¢ Question 22 ________ focuses everyone’s attention and efforts on the same target market. It is an expression of what the owner believes in. â€¢ Question 23 Rather than attempting to serve the total market, the small firm pursuing a ________ strategy specializes in serving a specific target segment. â€¢ Question 24 Small firms pursuing a cost leadership strategy have an advantage in reaching customers whose primary purchase criterion is: â€¢ Question 25 A small business owner needs to remember that when it comes to employee involvement in the strategic planning process: â€¢ Question 26 Which of the following best expresses the relationship of a company vision to its mission? â€¢ Question 27 A competitive profile matrix: â€¢ Question 28 A mission statement should answer which of the following questions? â€¢ Question 29 The most successful strategic plans make the ________ focal. â€¢ Question 30 The strategic planning process for small businesses is:
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