Chapter 6 quiz from Understanding Business text book.
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
Intrapreneurs start nonprofit organizations while entrepreneurs start profit-seeking businesses
Intrapreneurs are practical while entrepreneurs are creative
Intrapreneurs work within existing corporations while entrepreneurs assume the risks of starting their own business
Intrapreneurs limit their efforts to financial investments, while entrepreneurs are involved in all areas of business activity
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
Makes sense, because managerial skills can only be fully developed by working for big firms
Is smart because major corporations are still the most important source of employment growth in the United States
Indicates that Manny wants a chance to utilize his entrepreneurial talents
Is likely to limit his job prospects since most new jobs are with small businesses
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
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
Human relations and accounting
Financing and planning
Marketing and public relations
Staffing and controlling
Expect to receive a share of ownership in the busineses in exchange for their loan
Expect the entrepreneur to have a well prepared business plan
Generally make loans only to small businesses in computer related industries
Offer only only very short-term financing
Exporting can absorb excess inventory
Marketing will encounter cultural similarities in prospective markets
The company can take extra time to ship internationally
Selling your products in other markets may shorten their life cycle
There is only a limited market for their products
The government has been against active participation
Many potential exporters do not know how to get started
American products are looked upon as being inferior