20 Pages

# Chapter_03 Test Bank

Course Number: MGMT 396, Spring 2013

College/University: Ole Miss

Word Count: 7171

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Chapter 3Starting a Small Business TRUE/FALSE 1. "Me, too" strategies are used by very few new ventures. ANS: F In reality, most new ventures (especially in service industries) are founded on "me, too" strategies. PTS: 1 REF: p. 72 NAT: Analytic | Value Creation OBJ: 3-1 TYPE: C 2. Many new businesses are formed from an entrepreneur seeing ways to improve or modify a product as a result of...

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Figure 17.47?IF = 9.66mA (50V – 0.7V) / 5.1kOhms)I0 = 11.6mA ( 1.2 * 9.66mA)CH 17 # 14Or14. Determine the values of VL(pk) Vave, and Iave for the circuit shown in figure 18.53Vs(pk) = Vs(rms) / 0.707 = 24V/0.707 = 33.9 VVL(pk) = (Vs(pk) /
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s the difference between genotype and phenotype?ANTH 344, Fall 2005, Exam 1Page 5 of 539. What three things are used to determine if a trait possessed by two closely related species isancestral or derived?40. Describe the “Red Queen” th
Ole Miss - MGMT - 396
Chapter 4Franchises and BuyoutsTRUE/FALSE1. One of the advantages of buying a franchise is that the purchaser has access to a proven business sys tem.ANS: TPTS: 1NAT: Analytic | Value CreationREF: p. 109OBJ: 4-2 TYPE: C2. A franchise is typically
Ole Miss - MGMT - 396
Chapter 5The Family BusinessTRUE/FALSE1. When a parent retires completely and turns the firm over to a son or daughter, the firm ceases to be afamily business.ANS: FA firm remains a family business when it passes from one generation to the next.PTS:
Ole Miss - MGMT - 396
Chapter 6The Business Plan: Visualizing the DreamTRUE/FALSE1. As the game plan for a new venture, the business plan focuses on the entrepreneur's bank account andother cash sources.ANS: FThe business plan crystallizes the hope and dreams that motivat
Ole Miss - MGMT - 396
Chapter 7The Marketing PlanTRUE/FALSE1. Small business marketing is best defined as the performance of distribution activities that affect theflow of goods and services from producer to consumer or user.ANS: FSmall business marketing involves numerou
Ole Miss - MGMT - 396
Chapter 8The Organizational Plan: Teams, Legal Structures, Alliances, andDirectorsTRUE/FALSE1. Effective leadership is more important for prospective managerial personnel than for investors.ANS: FA business plan that provides for effective leadership
Ole Miss - MGMT - 396
Chapter 9The Location PlanTRUE/FALSE1. States establish enterprise zones in order to locate businesses where they can take advantage of the ser vices of other businesses located in the same general area.ANS: FStates establish enterprise zones in order
Ole Miss - MGMT - 396
Chapter 10Understanding a Firm's Financial StatementsTRUE/FALSE1. The income statement shows a firm's financial position on a specific date.ANS: FThe income statement indicates the amount of profit or loss generated by a firm over a given period ofti
Ole Miss - MGMT - 396
Chapter 11Forecasting Financial RequirementsTRUE/FALSE1. The projection of profits, asset requirements, financing requirements and cash flows are essential indetermining whether a venture is economically viable.ANS: TPTS: 1NAT: Analytic | FinanceRE
Ole Miss - MGMT - 396
Chapter 12A Firm's Sources of FinancingTRUE/FALSE1. The basic factors that determine how a firm is financed are restricted to the firm's past economic per formance, the nature of its assets, and the personal preferences of owner(s) with respect to the m
Ole Miss - MGMT - 396
Chapter 13Planning for the HarvestTRUE/FALSE1. Harvesting is the method entrepreneurs and investors use to grow their firms.ANS: FHarvesting is the method entrepreneurs and investors use to exit a business and, hopefully, reap thevalue of their inves
Ole Miss - MGMT - 396
Chapter 14Building Customer RelationshipsTRUE/FALSE1. The central message of every CRM program is Court customers for a one-time sale.ANS: FThe central message of every CRM program is to cultivate customers for more than a one-time sale.PTS: 1REF: p
Ole Miss - MGMT - 396
Chapter 15Product Development and Supply Chain ManagementTRUE/FALSE1. All small firms want to grow.ANS: FSome entrepreneurs find that maintaining their current levels is sufficient.PTS: 1REF: p. 440NAT: Analytic | Value CreationOBJ: 15-1 TYPE: C2
Ole Miss - MGMT - 396
Chapter 16Pricing and Credit DecisionsTRUE/FALSE1. Prestige pricing (setting a high price to convey an image of high quality or uniqueness) is a pricing tac tic that reflects competitive advantage.ANS: TPTS: 1NAT: Analytic | FinanceREF: p. 478OBJ:
Ole Miss - MGMT - 396
Chapter 17Promotional PlanningTRUE/FALSE1. Every communication has a receiver, a source, and a channel through which the message is passed.ANS: TPTS: 1NAT: Analytic | Value CreationREF: p. 498OBJ: 17-1 TYPE: D2. Promotion is the marketing communic
Ole Miss - MGMT - 396
Chapter 18Global Opportunities for Small BusinessTRUE/FALSE1. Globalization explains the increasing similarity of markets around the world.ANS: TPTS: 1REF: p. 522NAT: Global Dynamics | Economic EnvironmentsOBJ: 18-1 TYPE: D2. Born-global firms are
Ole Miss - MGMT - 396
Chapter 19Professional Management and the Small BusinessTRUE/FALSE1. Individuals who are launching promising startups need to have a tolerance for ambiguity.ANS: TPTS: 1NAT: Analytic | DynamicsREF: p. 552OBJ: 19-1 TYPE: C2. Top-level executives in
Ole Miss - MGMT - 396
Chapter 20Managing Human ResourcesTRUE/FALSE1. A job description refers to a listing of the knowledge, skills, abilities, and other characteristics neces sary to perform a job.ANS: FA job description refers to an outline, or summary, of the work to be
Ole Miss - MGMT - 396
Chapter 21Managing OperationsTRUE/FALSE1. Operations refers to the processes used to create and deliver a good or service.ANS: TPTS: 1NAT: Analytic | Value CreationREF: p. 612OBJ: 21-1 TYPE: C2. Powerful companies, whether they are large or small,
Ole Miss - MGMT - 396
Chapter 22Managing the Firm's AssetsTRUE/FALSE1. The cash conversion period is the time period between ordering inventory and receiving cash for itssale.ANS: FThe cash conversion period represents the number of days required to complete the working-c
Ole Miss - MGMT - 396
Chapter 23Managing Risk in the Small BusinessTRUE/FALSE1. Risk is the possibility of suffering harm or pain.ANS: FRisk is the possibility of suffering harm or loss.PTS: 1REF: p. 671NAT: Analytic | Value CreationOBJ: 23-1 TYPE: D2. Market risk is
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Brief Electoral History of the United States- Studying the electoral history is important when studying the American voter. One of themost known and popular concepts is the critical alignment. This was created by V.O Keyin 1955 in an article he wrote.
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