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ENT 3315-David Allen: Baylor-Exam 1
Questions with Correct Answers | Updated
(100% Correct Answers)
What is a Small Business? Answer: among small businesses, there is
a great degree of diversity in size, in growth potential, in
organizational structure, and often in culture.
There is no generally accepted or universally agreed-on definition.
high-potential ventures or gazelles Answer: the few businesses with
phenomenal prospects for growth
franchisees Answer: 44% of businesses are franchises according to
the Franchise Association
these differ from other business owners in the degree of their
independence
reluctant entrepreneurs Answer: those who started or acquired
small businesses as a result of financial hardship or other severely
negative conditions
corporate refugees Answer: individual fleeing the bureaucratic
environment of a corporation that seems stifling or oppressive to
them. of 721 office workers, 42% had considered quitting their jobs
over bureaucratic hassles.
© 2025 All rights reserved
, 2
a person who becomes and entrepreneur to escape an undesirable
job situation
Understanding Your Paradigm Answer: knowing your motivations is
important to anyone interested in starting a business. but you also
need to understand if your perceptions of what it takes to be
successful in business are accurate, this may require a paradigm
shift, changing how we fundamentally see a situation
3 paradigms Answer: technician, manager, and entrepreneur
entrepreneurial legacy Answer: includes both tangible items and
intangible qualities passed on not only to heirs but also to the
broader society. You can appreciate, then, the seriousness with
which the entrepreneur needs to consider the kind of legacy he or
she is building
stakeholders Answer: typically described as those individuals or
groups who either can affect the performance of the company or
are affected by it
Big 3 stakeholders Answer: owners: most important to success,
make the rules
customers: is always right, and forms the success of the company
employees: are the only thing that keep the company moving
© 2025 All rights reserved
ENT 3315-David Allen: Baylor-Exam 1
Questions with Correct Answers | Updated
(100% Correct Answers)
What is a Small Business? Answer: among small businesses, there is
a great degree of diversity in size, in growth potential, in
organizational structure, and often in culture.
There is no generally accepted or universally agreed-on definition.
high-potential ventures or gazelles Answer: the few businesses with
phenomenal prospects for growth
franchisees Answer: 44% of businesses are franchises according to
the Franchise Association
these differ from other business owners in the degree of their
independence
reluctant entrepreneurs Answer: those who started or acquired
small businesses as a result of financial hardship or other severely
negative conditions
corporate refugees Answer: individual fleeing the bureaucratic
environment of a corporation that seems stifling or oppressive to
them. of 721 office workers, 42% had considered quitting their jobs
over bureaucratic hassles.
© 2025 All rights reserved
, 2
a person who becomes and entrepreneur to escape an undesirable
job situation
Understanding Your Paradigm Answer: knowing your motivations is
important to anyone interested in starting a business. but you also
need to understand if your perceptions of what it takes to be
successful in business are accurate, this may require a paradigm
shift, changing how we fundamentally see a situation
3 paradigms Answer: technician, manager, and entrepreneur
entrepreneurial legacy Answer: includes both tangible items and
intangible qualities passed on not only to heirs but also to the
broader society. You can appreciate, then, the seriousness with
which the entrepreneur needs to consider the kind of legacy he or
she is building
stakeholders Answer: typically described as those individuals or
groups who either can affect the performance of the company or
are affected by it
Big 3 stakeholders Answer: owners: most important to success,
make the rules
customers: is always right, and forms the success of the company
employees: are the only thing that keep the company moving
© 2025 All rights reserved
