Question 1: The number of markets served by a small organization is determined predominantly by:
A. the resources of the organization.
B. the size of the organization.
C. the management of the organization.
D. strategic planning in the organization.
Question 2: Charles Hanson just opened Chuck's Bikes and Trikes, a motorcycle repair facility. Charles has 25 employees even though the repair facility is located in a small rural town. Chuck's Bikes and Trikes is an example of:
A. an entrepreneurial venture.
B. a small business.
C. an innovative business.
D. All of the answer choices are correct.
Question 3: All of the following organizations are examples of social service NFPs except:
A. Junior League.
B. American Red Cross.
C. Mothers Against Drunk Drivers.
D. Academy of Management.
Question 4: Which of the following is not one of the unique strategies that have been developed for not-for-profit organizations in order to cope with changing environmental conditions?
A. Cause-related marketing
B. Not-for-profit marketing alliances
C. Licensing
D. Direct investment
Question 5: The competitive strategy choices for small businesses and entrepreneurial ventures are:
A. often limited to focus strategies.
B. often limited to a low-cost strategy.
C. often limited to a differentiated strategy.
D. limited because of technological advances.
Question 6: Small businesses are independent businesses that have fewer than ________ employees.
A. 100
B. 200
C. 300
D. 500
Question 7: Which of these is NOT a characteristic of entrepreneurial ventures?
A. Little impact on industry
B. Innovative practices
C. Pursue opportunities
D. Have growth and profitability as main goals
Question 8: A not-for-profit organization must meet the requirements of ________ of the U.S. Internal Revenue Service tax code.
A. Section 501(c)(3)
B. Section 301(d)(4)
C. Section 503(c)(4)
D. Section 401(c)(3)
Question 9: According to the Global Entrepreneurship Monitor (GEM) 2011 report, there are more than ________ million entrepreneurs in the 54 countries covered.
A. 25
B. 36
C. 400
D. 250
Question 10: Small businesses and entrepreneurial ventures are the driving force of change in the process of:
A. market positioning.
B. strategic positioning.
C. creative destruction.
D. competitor interrelationships.
Question 11: An example of a cause-related NFP is:
A. Camp Fire.
B. the University of Minnesota.
C. Save the Whales.
D. Bill and Melinda Gates Foundation.
Question 12: To evaluate strategy, there must be a connection between the evaluation and the ________ of the not-for-profit organization.
A. revenues
B. goals
C. objectives (moderate)
D. goals and objectives
Question 13: A strategic partnership between a not-for-profit organization and a corporate partner is referred to as:
A. licensing.
B. strategic piggybacking.
C. a not-for-profit marketing alliance.
D. cause-related marketing.
Question 14: Small businesses employ over ________ of all private workers.
A. 90 percent
B. 25 percent
C. 50 percent
D. 75 percent
Question 15: The not-for-profit marketing alliance is an extension of:
A. mergers and acquisitions.
B. divestment.
C. cause-related marketing.
D. licensing.
Question 16: A strategic advantage of entrepreneurial ventures/small businesses over large businesses is:
A. economics of scale.
B. flexibility.
C. marketing options.
D. distribution.
Question 17: Research on community arts organizations has indicated that Porter's strategies of ________ are utilized.
A. cost leadership, innovation, and focus
B. differentiation and focus
C. innovation and focus
D. cost leadership, differentiation, and focus
Question 18: An alliance in which the not-for-profit organization proposes and initiates the partnership is referred to as:
A. a not-for-profit marketing alliance.
B. cause-related marketing.
C. effect-related marketing.
D. licensing.
Question 19: A small business is NOT characterized by:
A. being independently owned.
B. having fewer than 100 employees.
C. engaging in innovative practices.
D. having little impact on its industry.
Question 20: Chuck Hanson encourages his employees to come with new ideas and ways to do business to replace existing practices. This process is called:
A. destructive creativity.
B. innovation.
C. creative destruction.
D. applied creativity.