II. MULTIPLE CHOICE: Select the best answer to the question or statement. Shade the box that correspond to your answer. 1. Sheldon is starting a new business and has established relationships with several successful local companies. Which of the following is the best way to use these relationships to succeed in his business? Gaining inside marketing information Persistently asking those business owners to invest in his company Attending trade shows and conferences to make new connections Sharing those businesses' content on social media 2. There are several car repair shops in your town, but Penny's repair shop is remarkable. The customer service is what distinguishes her shop. Every client is welcomed by a friendly employee and s/he receives snacks and drinks while s/he is waiting for the repairs. The great customer service that people can expect from Penny's business is considered her Vision Brand Promise Tagline Mission Statement 3. An entrepreneurial business owner must Dislike business planning Be independently wealthy Desire regular 40-hour work weeks Have an adventurous spirit 4. Looking at problems from various points of view helps entrepreneurs develop Practical arguments Creative solutions Unnecessary conflicts Unpredictable results 5. Raj would like to develop, manufacture and sell a new product. Before it does so, Raj spends six months conducting marketing research. What are the main advantages of his action? Delaying production and increasing labor costs Increasing costs and identifying consumer dislikes O Predicting trends and provide information to customers Determining customer preferences and reducing losses 6. Given below are some reasons why people are not planning except Superstitious Beliefs Inertia Fear of failure Limiting Beliefs 7. Howard wants to start up his own enterprise, however, he doesn't have enough funds. Amy, his friend, decided to lend him some of her money with no interest. Amy is considered as Crowd Funder Startup Incubators Angel Investor Capitalist 8. According to Newlands (2014), below are awesome opportunities for entrepreneurs, except Foreign Market Social power of internet Invest in multiple business Social Media 9. is a set of proposed rules and techniques to change behavior in order to achieve self-improvement, self-management and more efficient interpersonal communication. Neuro-linguistic Programming Entrepreneurial Mindset Entrepreneurial Skillset PAW Process 10. Which of the following can limit the opportunity for entrepreneurship? New technological development Economic expansion Growth of cities Fear of failure 11. What behavior is exhibited when an individual recognizes the possibility of an undesirable outcome and continues to work toward a goal? Self-discipline Risk-taking Flexibility Creativity 12. Successful entrepreneurs enjoy their work and often start their businesses so that they can share their interests and enthusiasm with others. In other words, successful entrepreneurs have which characteristic for what they do? Apathy Reservation Concern Passion 13. After Leonard realized that he processed an order incorrectly, he waited too long to correct the problem. As a result, an incorrect item was shipped to the customer. Now, the customer will need to ship the item back to the warehouse, and Leonard's company will need to pay extra charges to have the product returned. What does this situation illustrate? The company has unrealistic expectations about the ability of Leonard to carry out his work. Employees should inform their supervisors of all problems immediately. Customers are probably very angry about the mistakes made by employees. An employee's decisions and actions can have a negative impact on others