BRAINSCAPE1
ENT 101- Exam 1 Exam with
complete solutions latest version
Mice - CORRECT ANSWER-20 people or less
Elephant - CORRECT ANSWER-500 people or less
Gazelle - CORRECT ANSWER-At least 20% sales growth every year with a starting
base of at least $100,000
Dogs - CORRECT ANSWER-greater than 1% annual employment losses over 3
years
What constitutes a small business? - CORRECT ANSWER-determined by the
business' industrial classification, maybe numbers of employees or revenues
SBA classification - CORRECT ANSWER-less than 500 employees or $6 million in
average annual receipts
Business success is one that: - CORRECT ANSWER-profitable (now and in the
future), maximize shareholder wealth, creates and delights customers
Infancy - CORRECT ANSWER-Getting doors open
Expansion - CORRECT ANSWER-when management skills are required. Growing
out of your comfort zone
Maturity - CORRECT ANSWER-an entrepreneurial perspective is needed.
Achieving sustainable growth
Hard systems - CORRECT ANSWER-things
soft systems - CORRECT ANSWER-people (key processes, selling system
example)
Information systems - CORRECT ANSWER-feedback on status quo
BRAINSCAPE1
ENT 101- Exam 1 Exam with
complete solutions latest version
Mice - CORRECT ANSWER-20 people or less
Elephant - CORRECT ANSWER-500 people or less
Gazelle - CORRECT ANSWER-At least 20% sales growth every year with a starting
base of at least $100,000
Dogs - CORRECT ANSWER-greater than 1% annual employment losses over 3
years
What constitutes a small business? - CORRECT ANSWER-determined by the
business' industrial classification, maybe numbers of employees or revenues
SBA classification - CORRECT ANSWER-less than 500 employees or $6 million in
average annual receipts
Business success is one that: - CORRECT ANSWER-profitable (now and in the
future), maximize shareholder wealth, creates and delights customers
Infancy - CORRECT ANSWER-Getting doors open
Expansion - CORRECT ANSWER-when management skills are required. Growing
out of your comfort zone
Maturity - CORRECT ANSWER-an entrepreneurial perspective is needed.
Achieving sustainable growth
Hard systems - CORRECT ANSWER-things
soft systems - CORRECT ANSWER-people (key processes, selling system
example)
Information systems - CORRECT ANSWER-feedback on status quo
BRAINSCAPE1
