18 Questions
What is a common reason for small businesses to fail?
Managerial incompetence
What percentage of the nation's new jobs are in small businesses?
65 percent
What is a characteristic of a small business?
It is independently owned and operated
Why do people take the risks of entrepreneurship?
To pursue business opportunities and create something new
What is the estimated number of small businesses in the United States?
30 million
What distinguishes micropreneurs from other entrepreneurs?
Their focus on small-scale business ventures
What is one of the reasons for the growth of home-based businesses?
Social attitudes have changed
What is a challenge of home-based businesses?
Managing your time requires self-discipline
What type of business can be started at home with low start-up costs and minimal administrative tasks?
Personal creations, such as artwork and handmade items
What is a result of corporate downsizing?
Many people venture on their own
Why is computer technology considered a factor in the growth of home-based businesses?
It has leveled the playing field
What is a benefit of the new tax laws related to home-based businesses?
They have loosened restrictions on deducting expenses for home offices
What is the advantage of entrepreneurial teams combining their skills?
To ensure more cooperation and coordination among functions
What is the primary goal of intrapreneurs?
To launch new products for their company
What is the characteristic of micropreneurs?
They are willing to accept the risk of starting and managing a small business
What is the common trait among more than half of U.S. micropreneurs?
They are all home-based
What is the benefit of being an intrapreneur?
You have access to the company's existing resources
What is the primary motivation of entrepreneurs who take the risk of starting a business?
All of the above
Learn about the benefits of entrepreneurial teams, where experienced individuals from different business areas come together to develop, produce, and market new products. This collaboration enables creative skills to be combined with production and marketing skills from the start, ensuring better cooperation and coordination among functions.
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