BA109 Exam PART 2 Latest 2023 with complete solution
Entrepreneurs choose to enter their particular business fields because they have
an interest in them and enjoy those lines of work. They have often made their
hobbies their business.
True
Women in business still experience ________ as they attempt to break the "glass
ceiling."
discrimination
Not all family-owned businesses are small; in fact, approximately one-third of the
Fortune 500 companies are family businesses.
True
An often fatal error made by many small business owners is to open their
businesses on a "shoestring," causing them to be undercapitalized.
True
Expanding a business usually requires no significant changes in structure or
business practices.
False
Because they have college degrees, a working knowledge of business, and years
of management experience, both corporate castoffs and corporate dropouts who
become entrepreneurs will most likely increase the small business survival rate.
True
________ percent of all U.S. businesses are family owned and managed.
Ninety
One hallmark of successful entrepreneurs is the ability to:
fail intelligently.
"Constantly being practical" is a mental block that can stifle creativity.
True
This set of experiences may enhance individual creativity.
All of these
Creativity and innovation are the signature of small, entrepreneurial businesses.
True
Entrepreneurs can encourage creative thinking in their employees by setting
examples of creative behavior and rewarding creative behavior when exhibited by
their employees.
True
Trade dress is the unique combination of elements that a company uses to create
a products image and to promote it.
True
The right brain takes care of the body's emotional, intuitive, and spatial functions.
True
The U.S. Copyright Office does not require registering the creative work because
registering it does not give creators greater protection over their work.
False
Which hemisphere of the brain is responsible for the body's emotional, intuitive,
and spatial functions?
, Right hemisphere
Steps in the patent process include:
All of these
The right brain processes information intuitively-all at once, relying heavily on
images.
True
"Divergent thinking" is the ability to see similarities and connections among
various data and events.
False
Hiring a diverse workforce makes it more difficult to achieve creativity in the
workplace.
False
Although developing a strategic plan is important for large companies, it is not
essential to managing a small company successfully because of its limited
resources.
False
A small company following a ________ strategy seeks to build customer loyalty
by positioning its goods and services in a unique fashion.
differentiation
Rather than attempting to serve the total market, the small firm pursuing a
________ strategy specializes in serving a specific target segment.
focus
The most effective way to communicate the values of a company to everyone it
touches is to formulate an effective mission statement.
True
One of the biggest changes entrepreneurs face is the shift in the economy from a
base of financial to intellectual capital.
True
A strategy is a road map of action for fulfilling a firm's mission, goals, and
objectives.
True
Goals and objectives provide targets to aim for and a basis for evaluating a
company's performance.
True
Focus strategies build on differences among market segments.
True
Small companies must develop strategies that exploit all of the competitive
advantages of their size by:
All of these
Setting seemingly impossible objectives, those outside of the likely reach of
employees, helps managers to create and maintain a high motivation level.
False
A focus strategy recognizes that not all markets are homogeneous.
True
Conducting successful competitive intelligence on rivals' strategies and actions
may include researching their Web sites, buying their products to assess their
Entrepreneurs choose to enter their particular business fields because they have
an interest in them and enjoy those lines of work. They have often made their
hobbies their business.
True
Women in business still experience ________ as they attempt to break the "glass
ceiling."
discrimination
Not all family-owned businesses are small; in fact, approximately one-third of the
Fortune 500 companies are family businesses.
True
An often fatal error made by many small business owners is to open their
businesses on a "shoestring," causing them to be undercapitalized.
True
Expanding a business usually requires no significant changes in structure or
business practices.
False
Because they have college degrees, a working knowledge of business, and years
of management experience, both corporate castoffs and corporate dropouts who
become entrepreneurs will most likely increase the small business survival rate.
True
________ percent of all U.S. businesses are family owned and managed.
Ninety
One hallmark of successful entrepreneurs is the ability to:
fail intelligently.
"Constantly being practical" is a mental block that can stifle creativity.
True
This set of experiences may enhance individual creativity.
All of these
Creativity and innovation are the signature of small, entrepreneurial businesses.
True
Entrepreneurs can encourage creative thinking in their employees by setting
examples of creative behavior and rewarding creative behavior when exhibited by
their employees.
True
Trade dress is the unique combination of elements that a company uses to create
a products image and to promote it.
True
The right brain takes care of the body's emotional, intuitive, and spatial functions.
True
The U.S. Copyright Office does not require registering the creative work because
registering it does not give creators greater protection over their work.
False
Which hemisphere of the brain is responsible for the body's emotional, intuitive,
and spatial functions?
, Right hemisphere
Steps in the patent process include:
All of these
The right brain processes information intuitively-all at once, relying heavily on
images.
True
"Divergent thinking" is the ability to see similarities and connections among
various data and events.
False
Hiring a diverse workforce makes it more difficult to achieve creativity in the
workplace.
False
Although developing a strategic plan is important for large companies, it is not
essential to managing a small company successfully because of its limited
resources.
False
A small company following a ________ strategy seeks to build customer loyalty
by positioning its goods and services in a unique fashion.
differentiation
Rather than attempting to serve the total market, the small firm pursuing a
________ strategy specializes in serving a specific target segment.
focus
The most effective way to communicate the values of a company to everyone it
touches is to formulate an effective mission statement.
True
One of the biggest changes entrepreneurs face is the shift in the economy from a
base of financial to intellectual capital.
True
A strategy is a road map of action for fulfilling a firm's mission, goals, and
objectives.
True
Goals and objectives provide targets to aim for and a basis for evaluating a
company's performance.
True
Focus strategies build on differences among market segments.
True
Small companies must develop strategies that exploit all of the competitive
advantages of their size by:
All of these
Setting seemingly impossible objectives, those outside of the likely reach of
employees, helps managers to create and maintain a high motivation level.
False
A focus strategy recognizes that not all markets are homogeneous.
True
Conducting successful competitive intelligence on rivals' strategies and actions
may include researching their Web sites, buying their products to assess their
