Entrepreneurial Teams: Combining Skills for Success
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Questions and Answers

What is a common reason for small businesses to fail?

  • Managerial incompetence (correct)
  • Inability to respond quickly to opportunities
  • Lack of personal customer service
  • Choosing the right type of business

    • What percentage of the nation's new jobs are in small businesses?

  • 65 percent (correct)
  • 50 percent
  • 75 percent
  • 40 percent

    • What is a characteristic of a small business?

  • It is independently owned and operated (correct)
  • It has a large number of employees
  • It has a high annual revenue
  • It is dominant in its field of operation

    • Why do people take the risks of entrepreneurship?

    <p>To pursue business opportunities and create something new</p> Signup and view all the answers

    What is the estimated number of small businesses in the United States?

    <p>30 million</p> Signup and view all the answers

    What distinguishes micropreneurs from other entrepreneurs?

    <p>Their focus on small-scale business ventures</p> Signup and view all the answers

    What is one of the reasons for the growth of home-based businesses?

    <p>Social attitudes have changed</p> Signup and view all the answers

    What is a challenge of home-based businesses?

    <p>Managing your time requires self-discipline</p> Signup and view all the answers

    What type of business can be started at home with low start-up costs and minimal administrative tasks?

    <p>Personal creations, such as artwork and handmade items</p> Signup and view all the answers

    What is a result of corporate downsizing?

    <p>Many people venture on their own</p> Signup and view all the answers

    Why is computer technology considered a factor in the growth of home-based businesses?

    <p>It has leveled the playing field</p> Signup and view all the answers

    What is a benefit of the new tax laws related to home-based businesses?

    <p>They have loosened restrictions on deducting expenses for home offices</p> Signup and view all the answers

    What is the advantage of entrepreneurial teams combining their skills?

    <p>To ensure more cooperation and coordination among functions</p> Signup and view all the answers

    What is the primary goal of intrapreneurs?

    <p>To launch new products for their company</p> Signup and view all the answers

    What is the characteristic of micropreneurs?

    <p>They are willing to accept the risk of starting and managing a small business</p> Signup and view all the answers

    What is the common trait among more than half of U.S. micropreneurs?

    <p>They are all home-based</p> Signup and view all the answers

    What is the benefit of being an intrapreneur?

    <p>You have access to the company's existing resources</p> Signup and view all the answers

    What is the primary motivation of entrepreneurs who take the risk of starting a business?

    <p>All of the above</p> Signup and view all the answers

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