Try to answer these 30+ Small Business Management and Entrepreneurship MCQs and check your understanding of the Small Business Management and Entrepreneurship subject. Scroll down and let's begin!
A. Identifying
B. Conceal
C. Distinguish
D. All of the above
A. Innova-tion
B. Triggering event
C. Implementation
D. All of the above
A. Outside
B. Inside
C. Within
D. Both b and c
A. True
B. False
A. Achievement of a critical mass
B. Adequate living for owner and family provided
C. Enough remains to keep the business going
D. All of the above
A. True
B. False
A. In process
B. Formed
C. Both a and b
D. None of the above
A. Another person
B. Another company
C. Both a and b
D. None of the above
A. Internal
B. External
C. Both a and b
D. None of the above
A. Future
B. Past
C. Present
D. All of the above
A. True
B. False
A. True
B. False
A. True
B. False
A. Tangible good
B. Intangible service
C. Combination of both
D. All of the above
A. Owning
B. Operating
C. Running
D. All of the above
A. Growth
B. Maturity
C. Harvest
D. All of the above
A. Event
B. Occurrence
C. Incident
D. All of the above
A. Thinking to doing
B. Doing to thinking
C. Failure to doing
D. Resting to doing
A. Implementation
B. Growth
C. Maturity
D. Harvest
A. Willing to take risks for large payouts
B. Able to see trends in the market and capitalize on them
C. Strong leaders who can develop teams and optimize structure
D. Able to set different strategies for different product lines
A. The business innovates due to environmental factors.
B. The business must address different factors at different phases of growth.
C. The business can ignore more environmental factors as the business does not have a significant impact on the industry.
D. The business must always address all the environmental factors.
A. Create; implement
B. Innovate; harvest
C. Create; grow
D. Innovate; manage
A. Innovation
B. Trigger event
C. Growth
D. Implementation
A. Innovation, implementation, and growth
B. Innovation, trigger event, and implementation
C. Trigger event, implementation, and growth
D. Innovation, trigger event, and growth
A. Specializing in what the company does best.
B. Developing functional areas of marketing, finance, or HR.
C. Creating structure and building teams.
D. Developing new products for the business.
A. Internal locus of control
B. Determination
C. Need to achieve
D. Passion for work
A. Entrepreneurship; management
B. Management; entrepreneurship
C. Management; leadership
D. Entrepreneurship; team building
A. Implementation
B. Growth
C. Maturity
D. Harvest
A. Researching a new product idea
B. Developing a prototype
C. An in-depth market assessment
D. Conducting a pilot test for the product
A. Grow the business enough to support his/her family.
B. Grow the business in order to increase profits.
C. Get in and get out quickly while making a large amount of money.
D. Manage the business over a long period of time.
A. Spending time away from your family due to the long hours.
B. Not having a steady income and no income for a period of time.
C. The psychological stress of getting the business started.
D. Finding the right team members to get your business started.
A. They want to have control over their own destiny.
B. They have lost their jobs and need a source of income.
C. They are trying to balance family and work.
D. They have an innovative business idea.
A. An innovative business idea
B. Positive market research supporting your idea
C. A trigger event such as losing a job
D. Support from family and friends
A. Emblem
B. Logo
C. Symbol
D. Brand
E. Trade name
A. Partial
B. Physical
C. Perpetual
D. ABC