Question 7 (1.5 points)

_____ entails breaking down larger corporate goals into objectives that are then allocated across divisions and departments, and further broken down to the individual level, with managers working with subordinates to collaboratively develop their personal objectives.

Question 7 options:

	Management by objective
	Operationalization of goals
	Organizational effectiveness
	Corporate-business-functional strategic development

Question 8 (1.5 points)

The main advantages of a limited liability company include all of the following, except:

Question 8 options:

	It avoids the double taxation that corporations experience
	It limits the personal liability of partners
	Less legal paperwork to create than other forms
	It provides most of the benefits of a corporation

Question 9 (1.5 points)

Tyro, a large corporate accounting systems company, constantly seeks out creative, innovative people to serve as change agents, innovators, and design thinkers who use their skills to benefit the company. They develop new products and services, constantly improve current offerings, and experiment with new processes and technologies to create value. Tyro is an example of a:

Question 9 options:

	Innovation system
	Conservatively intrapreneurial company
	Entrepreneurial large business
	Serial Entrepreneurial firm

Question 10 (1.5 points)

At the most broad level, looking at a market's total potential demand and potential future demand to determine the attractiveness of that market for a sales forecast is called ______.

Question 10 options:

	Macro forecasting
	Summative forecasting
	Environmental forecasting
	Micro forecasting

Question 11 (1.5 points)

There are many reasons why entrepreneurship is increasing within in the United States. All of the following are reasons, except for: ____, which is NOT a reason.

Question 11 options:

	There has been a strong shift from external markets to more internal markets, particularly manufacturing
	There are so many more programs in entrepreneurship offered within colleges and universities compared to what used to be
	There is a great change in demographics, including that Hispanics are now the largest ethnicity in the country and culturally there is a strong desire to seek independence and success through innovation and hard work
	Technology, especially information technology, has provided great assistance to would-be entrepreneurs

Question 12 (1.5 points)

Jackie borrows $20,000 from a bank to pay for inventory in her retail store before the holiday shopping season takes off on Black Friday. The type of capital use would be considered:

Question 12 options:

	Stock Capital
	Fixed Capital
	Working Capital
	Growth Capital

Question 13 (1.5 points)

Nofel has a custom stained glass company that does custom work and offers retail stained glass to churches and other faith-based institutions, as well as home and business owners. Nofel has decided to move into custom furniture that includes stained glass as well as custom pews, benches, and church woodwork. Adding woodwork would be a form of:

Question 13 options:

	Supplementation
	Diversification
	Compounding revenue
	Optimization

Question 14 (1.5 points)

If you are going to take on one or more cofounders, you should always do all of the following, except:

Question 14 options:

	Create a clear governance structure
	Use founder vesting
	Split ownership equally
	Plan out how you are going to resolve any potential conflicts between one another

Question 15 (1.5 points)

When an organization chooses to compete in a large market against competitors on the basis of product pricing, this is considered ______.

Question 15 options:

	Cost-based pricing
	A low cost provider strategy
	Product-market fit
	Red ocean strategy