MGT 103 EXAM 2 QUESTIONS AND
ANSWERS ALL CORRECT
Which of the following strategy is one in which the company decides that it makes
sense to organize its functional activities, such as marketing, finance, etc. around
geographical regions that play a critical role in terms of: - Answer- A regional strategy
The worldwide phenomenon whereby the countries of the world are becoming more
interconnected and where trade barriers are disappearing refers to: - Answer-
Globalization
Exporting is one of the easiest ways to go international. - Answer- True
Which of the following defines those markets in non-developed countries that present
tremendous potential for multinationals? - Answer- Emerging markets
Because tariffs are usually passed along to the consumer in the form of higher prices,
imposing tariffs on imported goods gives domestic companies a price advantage and
protects them from foreign competition. - Answer- True
Multipreneurs are businesspeople who have tried a succession of entrepreneurial start-
ups without finding an area in which they could be successful. - Answer- False
More than half of small businesses have between one and four employees - Answer-
True
Kathy Elliott has decided that she will start an internet company to sell reliable used
cars to customers nationwide. She has decided to use the sole proprietorship business
format. Elliott's next step is to write a formal _ before she applies for a business loan -
Answer- Business Plan
Entrepreneurs are people with vision, drive, and creativity, who are willing to take the
risk of starting and managing a business to make a profit - Answer- True
_ is at the core of most business failures. - Answer- inadequate planning
A entrepreneur is a person who opens and manages his or her own business. - Answer-
True
, _ are individual investors or groups of experienced investors who provide funding for
start-up businesses. - Answer- Angel Investors
Who provides the start-up financing for the majority of new small businesses? - Answer-
the business owner and his or her family and friends
An advantage of a small manufaturing firm over a large manufacturer is the speed with
which new produets ean be introduced to the marketplace - Answer- True
Entrepreneurs are typically innovators who start companies to pursue their ideas for a
new product or service. - Answer- True
Michael Bronner made a fortune in the direct marketing business as the cofounder and
CEO of Bronner Slosberg Humphrey, a wildly successful direct-marketing firm. His
newest venture, Upromise, Inc., enlists some of America's largest corporations to help
families pay for college and is extremely successful. Entrepreneur Bronner would more
than likely have which of the following characteristics? - Answer- All of the above
Navin Jain sold stock to investors in order to finance Sparkart, LLC, a company that
markets software to track how many times music is played and shared among peers.
Jain used _
financing. - Answer- Equity
Businesses close down for many reasons. Which of the following is NOT a typical
reason for a business failure? - Answer- Expenses were lower than the owner expected.
The most common use of a business plan is to persuade lenders and investors to
finance the venture. - Answer- True
Which of the following model of change proposed the sequence of "Unfreeze, Move,
Refreeze"? - Answer- Lewin's Change Model
Which term describes a system for accomplishing and connecting activities that occur
within a work organization? - Answer- Organizational Structure
Which of the following represents one of the most difficult kinds of change to create
within an organization? - Answer- Culture Change
Which of the following represents the changes in the overall formal relationships, or the
architecture of relationships, within an organization? - Answer- structural change
Strategic planning and implementation is perhaps the most common type of
organization-level change. - Answer- True
ANSWERS ALL CORRECT
Which of the following strategy is one in which the company decides that it makes
sense to organize its functional activities, such as marketing, finance, etc. around
geographical regions that play a critical role in terms of: - Answer- A regional strategy
The worldwide phenomenon whereby the countries of the world are becoming more
interconnected and where trade barriers are disappearing refers to: - Answer-
Globalization
Exporting is one of the easiest ways to go international. - Answer- True
Which of the following defines those markets in non-developed countries that present
tremendous potential for multinationals? - Answer- Emerging markets
Because tariffs are usually passed along to the consumer in the form of higher prices,
imposing tariffs on imported goods gives domestic companies a price advantage and
protects them from foreign competition. - Answer- True
Multipreneurs are businesspeople who have tried a succession of entrepreneurial start-
ups without finding an area in which they could be successful. - Answer- False
More than half of small businesses have between one and four employees - Answer-
True
Kathy Elliott has decided that she will start an internet company to sell reliable used
cars to customers nationwide. She has decided to use the sole proprietorship business
format. Elliott's next step is to write a formal _ before she applies for a business loan -
Answer- Business Plan
Entrepreneurs are people with vision, drive, and creativity, who are willing to take the
risk of starting and managing a business to make a profit - Answer- True
_ is at the core of most business failures. - Answer- inadequate planning
A entrepreneur is a person who opens and manages his or her own business. - Answer-
True
, _ are individual investors or groups of experienced investors who provide funding for
start-up businesses. - Answer- Angel Investors
Who provides the start-up financing for the majority of new small businesses? - Answer-
the business owner and his or her family and friends
An advantage of a small manufaturing firm over a large manufacturer is the speed with
which new produets ean be introduced to the marketplace - Answer- True
Entrepreneurs are typically innovators who start companies to pursue their ideas for a
new product or service. - Answer- True
Michael Bronner made a fortune in the direct marketing business as the cofounder and
CEO of Bronner Slosberg Humphrey, a wildly successful direct-marketing firm. His
newest venture, Upromise, Inc., enlists some of America's largest corporations to help
families pay for college and is extremely successful. Entrepreneur Bronner would more
than likely have which of the following characteristics? - Answer- All of the above
Navin Jain sold stock to investors in order to finance Sparkart, LLC, a company that
markets software to track how many times music is played and shared among peers.
Jain used _
financing. - Answer- Equity
Businesses close down for many reasons. Which of the following is NOT a typical
reason for a business failure? - Answer- Expenses were lower than the owner expected.
The most common use of a business plan is to persuade lenders and investors to
finance the venture. - Answer- True
Which of the following model of change proposed the sequence of "Unfreeze, Move,
Refreeze"? - Answer- Lewin's Change Model
Which term describes a system for accomplishing and connecting activities that occur
within a work organization? - Answer- Organizational Structure
Which of the following represents one of the most difficult kinds of change to create
within an organization? - Answer- Culture Change
Which of the following represents the changes in the overall formal relationships, or the
architecture of relationships, within an organization? - Answer- structural change
Strategic planning and implementation is perhaps the most common type of
organization-level change. - Answer- True
