MBA Entrepreneurship Small Business Management — practice questions
44 free MCQs with worked solutions. Tap any question for the answer + explanation, or practice them all in the app.
Practice MBA Entrepreneurship Small Business Management in the app →People with vision, drive and creativity willing to risk starting a business for profit are:Entrepreneurs who start a whole series of companies are called:Founders who start small and deliberately plan to stay small are:Employees who apply creativity and risk-taking inside a large corporation are:An entrepreneur who is competitive with a high need for achievement is described as:An individualist and self-starter who prefers to lead rather than follow is:Successful entrepreneurs mostly prefer opportunities carrying:The ability to spot trends and act on them sets entrepreneurs apart. That trait is being:A firm with under 500 employees, independently managed and not dominant in its industry, is a:A formal written statement describing a new business idea and how it will be carried out is a:Which of these belongs inside such a plan?Borrowed funds that must be repaid with interest over a stated period are a form of:Funds raised by selling ownership in the business are a form of:Individual investors who put their own funds into start-ups are:Investment firms specialising in financing small high-growth companies for an ownership stake supply:Compared with the earliest individual backers, venture capitalists typically invest:The federal body that helps people start and manage small firms and win contracts is the:Retired executives who volunteer to advise small-business owners work through:A facility giving start-ups workspace and support in their earliest days is a business:Investment companies licensed by that federal body to provide long-term small-business finance are:Having a great concept alone is not enough, because the entrepreneur must also:A person with every entrepreneurial trait may still fail because they lack:The entrepreneur who developed the lean startup methodology after his first company closed was:The creator of the customer development methodology behind that movement was:The loop of building, measuring and then learning is called the:A very early prototype carrying only the core benefits is a:The people who try that earliest version are described as:A lean startup begins by building a product that has:Dropbox first showed potential customers a short:That Dropbox example shows that businesses can function without being:The crucial change a company makes to test a new direction is called a:After the loop, a company either pivots or:The second company Eric Ries created was:That avatar platform is also described as a:When their first customers disappeared, the founders decided to start:Despite bugs that could crash users' computers, Ries was determined to:The lean startup method aims to develop products people want in a:Many companies waste effort on ideas that seem great in theory but:The step-by-step approach advocated covers how to manoeuvre a startup, change course and:According to that method, an MVP can be the bare minimum needed to help people:A basic platform released to early adopters serves mainly to:The loop helps entrepreneurs learn whether there is a need to:Building an elaborate product before testing demand risks:The lean startup approach is described as a new way to develop and: