Blue
What color is the Himalayan Poppy Flower
Blue
What is a key element of entrepreneurship
Risk
What is the first mover advantage?
The company that exploits an opportunity before others has an advantage
Who are the owners of a corporation
Stockholders
What is formed when a corporation establishes a trust on behalf of employees for the purpose of buying shares of ownership
ESOP
What entity is defined as independent and has little influence on its market?
Small Business
What language has the most words?
What is the first step in becoming an entrepreneur?
Identify Problems/Distinctive Competencies
What is used to keep a business on track and alert to potential trouble within the company?
Control Systems
What is the biggest advantage to a corporation that a sole proprietorship and a partnership do not have
Limited Liability
How many employees are needed to be considered a "small" business?
500
What is the MOST important source of money for new business start-ups?
Personal Resources
What state did the first official American baseball game take place?
New Jersey
What is the MOST significant recent trend in small-business start-ups?
E-commerce
What describes an investor in a business who is liable for some of its debt, but has no active role in its operation?
Limited Partner
What organization assists a small business in gaining skills/ funds to getting their business started ?
SBA (Small Business Administration)
What is considered to be a significant disadvantage of owning a franchise?
Start-up costs
Following the rules of the company
What is an advantage to starting a business from scratch instead of buying an existing business?
No problems to fix from the previous owner
What mammal has no vocal chords?
Giraffe
What are the four reasons for business success?
Success:
1. Hard work
2. Market demand
3. Managerial competence
4. Luck
When an entrepreneur has the goals of growth and expansion, with the vision of turning the business into a large business, what term is used when referring to the business?
Start-up
What is a disadvantage of of accepting venture capital?
Sharing control of the company
Which distinctive competency must an entrepreneur identify when attempting to enter a market segment that is not currently being exploited?
Niche Market
A new business should have enough capital to operate at least how many months without earning a profit?
6 months
How many rides are at Disney World? (+/- 5)
46