CHAPTER 4: TECHNOPRENEURSHIP Flashcards
MASTERY
Two or more companies from an alliance to pursue a specific project, usually for specific time period.
A. cooperatives
B. joint ventures
C. cost and complexity of formation
D. franchises
joint ventures
the process of determining whether an entrepreneur’s idea is a viable foundation for creating a successful business.
A. business plan
B. marketing strategy
C. business strategy
D. feasibility analysis
feasibility analysis
the barrier/s of creativity is/are the following:
A. constantly being practical
B. viewing play as a frivolous
C. becoming overly specialized
D. all of the above
ALL OF THE ABOVE
it is the ability to create a new and useful ideas that solve problems and challenges people face everyday.
A. creativity
B. application
C. innovation
D. Entrepreneurship
entrepreneurship
which of the following is/are the Drawbacks of Entrepreneurship?
A. long hours and hard wok
B. uncertainty of income
C. risk of losing your entire investment
D. all of the above
all of the above
which of the following is/are disadvantage/s of Limited Liability company?
A. government restrictions and regulations
B. cost and complexity of information
C. stable business life
D. double taxation of profits
double taxation of profits
the purchases of a corporation by another corporation or investment group.
A. cooperatives
B. merger
C. acquisition
D. joint ventures
acquisition
The following is not a disadvantage of sole proprietorship?
A. Large personal time commitment
B. unstable business life
C. difficulty in attracting qualified employees
D. none of the choices
none of the choices
the contract in which a business seller agrees not to compete with the buyer within a specific time and geographic area.
A. Restrictive covenant
B. Lien
C. bulk transfer
D. contract assignment
Restrictive covenant
It is a road map of the actions and entrepreneur draws up to achieve a company’s mission, goals, and objectives.
A. Strategy
B. Goals
C. Purpose
D. Objectives
Strategy
a legal entity with an existence and life separate from its owners, who therefore are not personally liable for its debts.
A. Limited liability company
B. Partnership
C. sole proprietorship
D. franchise
Limited liability company
which of the following is/are the benefits of entrepreneurship?
A. Create your own destiny
B. reach your full potential
C. make a difference
D. all of the above
all of the above
which of the following is/are the steps of acquiring a business?
A. Investigate and evaluate candidate business and select the best one
B. ensure a smooth transition
C. explore financing
D. all of the choices
all of the choices
choose a form of organization by evaluating ______?
A. The taxes
B. the degree of operating control the owner can retain
C. the ability to attract employees
D. all of the choices
all of the choices
negative internal factors that inhibit a companies ability the accomplish its mission, goals, and objectives.
A. Vision
B. Mission
C. Strengths
D. Weaknesses
Weaknesses
a written summary of an entrepreneurs proposed business venture, its operational and financial details, its marketing opportunities and strategy, and its managers skills and abilities.
A. Business strategy
B. business plan
C. marketing strategy
D. business model
business plan
It protects business buyer from the claims and unpaid creditors might have against a company’s asset.
A. Bulk transfer
B. contract assignment
C. restrictive covenant
D. lien
Bulk transfer
Entrepreneurs tend to exhibit ________.
A. A willingness to work hard
B. Tenacity
C. all of the above
D. none of the above
all of the above
Number of competitors is large or few (less than 5).
A. Rivalry
B. Buyers
C. new entrants
D. suppliers
Rivalry
Positive internal factors a company can draw on to accomplish its mission, goals, and objectives.
A. Weaknesses
B. Mission
C. Vision
D. Strengths
Strengths
The following is/are the elements of a business plan?
A. Description of the firm’s product or service
B. competitor analysis
C. Marketing strategy
D. all of the above
all of the above
Any activity which is undertaken with an intension to earn profit is called?
A. Employment
B. Asset
C. Credit
D. Business
Business
which of the following is/are the disadvantages of buying a business?
A. Accounts receivable may be worth less than face value
B. it may be overpriced
C. inventory maybe stale
D. all of the choices
all of the choices
They sell a commodity product to the companies in it.
A. Buyers
B. Suppliers
C. new entrants
D. rivalry
Suppliers
don’t be in such a hurry to close the deal that you end up giving up much of what you hoped to get.
A. Preparation
B. Patience
C. Persistence
D. Poise
Patience
The company’s target markets and the benefits its product or service will provide.
A. Business strategy
B. executive summary
C. marketing strategy
D. business and industry profile
executive summary
which of the following is/are the benefits of franchising?
A. Centralized buying power
B. great chance for success
C. site selection and territorial protection
D. all of the choices
all of the choices
examine the needs of both parties and all of the relevant external factors affecting the negotiation before you sit down to talk.
A. Poise
B. Persistence
C. Patience
D. preparation
preparation
