Exam 1
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| A big probelm with starting a new business is that there just isn't enough financing available. | show 🗑
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| Opportunity recognition is the search and capture of new idea that lead to business opportunities. | show 🗑
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| According to the Brie model, creating a website for your business is a key resource action | show 🗑
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| show | False
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| There are two way to build social capital: Legitimacy & social networking. | show 🗑
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| In entreprenerurshiop, every good idea is a viable business opportunity. | show 🗑
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| Research suggests that the first good idea entrepreneurs come up with is always the best. | show 🗑
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| show | False
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| show | True
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| Work experience was the number one source of ideas for business, according to entrpreneurs in PSED. | show 🗑
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| show | True
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| show | False
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| Nearly all entrepreneurs talk about three universally mentioned rewards: flexibility, fame & fortune. | show 🗑
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| show | False
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| It is possible to be an entrepreneur as an employee within an organization. | show 🗑
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| show | False
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| It is said that today's entrprenuers are actually risk managers. | show 🗑
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| show | False
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| show | True
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| Market scope refers to the geography of your target market. | show 🗑
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| A buyout refers to starting a business from scratch. | show 🗑
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| show | False
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| show | True
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| show | True
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| Bootstrapping refers to finding a low-cost or no-cost way to do something. | show 🗑
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| Given that multiple individuals create a conflict, starting the business with one founder is one of the top indicators of start-up success. | show 🗑
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| When conducting a SWOT analysis, lack of managerial experience would be considered a threat to the small business startup. | show 🗑
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| There are three classic strategies for businesses of all types: differentiation, imitation and focus. | show 🗑
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| show | True
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| Generally an effective strategy for small business owners is trying to be the cost leader. | show 🗑
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| Due diligence in buying a business involves studying the financial statements of the business including an income statement. | show 🗑
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| show | False
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| show | False
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| show | False
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| show | True
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| Say Cheez Photo Booth is a local example of a business format franchise that one can buy for $10,000 plus 6% royalty. | show 🗑
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| show | True
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| Small businesses need a Web site only if they use it for actual sales | show 🗑
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| show | True
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| The designation TM when placed after a trade or service mark denotes that the mark has been registered federally with the U.S Patent & Trademark Office | show 🗑
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| Inelastic products have no substitutes and are absolute necessities. | show 🗑
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| For best success, assume that everyone is in your target market. | show 🗑
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| For small businesses, rebates are not a good idea because it takes away from already a very low margin that they work on. | show 🗑
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| show | False
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| show | True
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| show | True
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| The core product has features that differentiate it from the competition but are still closely related to the augmented product. | show 🗑
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| Budgeting is important process in the market based management approach. | show 🗑
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| show | True
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| The primary reason for targeting is that you don't waste a lot of effort and money. | show 🗑
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| An example of demographic segmentation is dividing up the market based on whether people live in city or rural areas. | show 🗑
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| Differential advantages occur as a result of something a company does in either - product, price, place, or promotion. | show 🗑
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| show | False
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| show | True
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| Discounting products or services 10% or less on a regular basis at the register is an effective strategy to grow sales because it builds customer loyalty. | show 🗑
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
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To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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