Business Development
Exam Bank
Course Introduction
Business Development is a multidisciplinary course that explores the strategies, skills, and frameworks necessary to identify growth opportunities and drive sustainability within organizations. Students learn about market analysis, relationship management, product development, sales techniques, and negotiation strategies. The course emphasizes practical approaches to alliance building, partnership creation, and new market entry, while considering risk management and ethical decision-making. Through case studies and collaborative projects, students gain hands-on experience in formulating business development plans, fostering innovation, and aligning initiatives with both short-term and long-term organizational goals.
Recommended Textbook
Entrepreneurship Theory Process and Practice 10th Editionby Donald F. Kuratko
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15 Chapters
444 Verified Questions
444 Flashcards
Source URL: https://quizplus.com/study-set/1416 Page 2
Chapter 1: Entrepreneurship: Evolutionary
Development-Revolutionary Impact
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28 Verified Questions
28 Flashcards
Source URL: https://quizplus.com/quiz/28106
Sample Questions
Q1) Entrepreneurs are high risk takers.
A)True
B)False
Answer: False
Q2) Mountain gap strategies refer to:
A)unique resources
B)unique locations
C)unique resources.
D)unique markets
Answer: D
Q3) The micro view is divided into which three theories?
A)entrepreneurial, financial, displacement
B)venture opportunity theory, entrepreneurial, strategic
C)strategic, environmental, and opportunity
D)environmental, financial, and displacement
Answer: B
Q4) Entrepreneurs always start their business at a young age.
A)True
B)False Answer: False
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Chapter 2: The Entrepreneurial Mind-Set in Individuals:
Cognition and Ethics
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30 Verified Questions
30 Flashcards
Source URL: https://quizplus.com/quiz/28107
Sample Questions
Q1) Commitment,determination,and perseverance are the only characteristics one needs to become a successful entrepreneur.
A)True
B)False
Answer: False
Q2) A decision to sell pharmaceuticals that have not been cleared with the Federal Drug Administration is an example of a(n)
A)illegal and ethical decision.
B)legal and unethical decision.
C)illegal and unethical decision.
D)legal and ethical decision.
Answer: C
Q3) The generation of the twenty-first century may become known as generation E because it is becoming the most entrepreneurial generation since the Industrial Revolution.
A)True
B)False
Answer: True
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Chapter 3: The Entrepreneurial Mind-Set in Organizations: Corporate Entrepreneurship
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28 Verified Questions
28 Flashcards
Source URL: https://quizplus.com/quiz/28108
Sample Questions
Q1) Explain some of the disadvantages that may occur in firms that are trying to incorporate entrepreneurship into their organizations.
Answer: One disadvantage may be that there is resistance to change by some managers. Also,if a company jumps into intrapreneuring too quickly without proper training,there may be some managers left not knowing what to do. If the corporate climate is not right for intrapreneuring,there is almost no chance for success.
Q2) Researchers have identified specific factors that organizations can concentrate on in helping individuals develop more entrepreneurial behavior.
A)True
B)False
Answer: True
Q3) All of the following are reasons for the growth of corporate entrepreneurship except A)a desire to dramatically increase profitability.
B)a rapidly growing number of new and sophisticated competitors.
C)a sense of distrust in the traditional methods of corporate management.
D)an exodus of some of the best people out of corporations.
Answer: A
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Page 5
Chapter 4: Social Entrepreneurship and the Global
Environment for Entrepreneurship
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30 Verified Questions
30 Flashcards
Source URL: https://quizplus.com/quiz/28109
Sample Questions
Q1) International alliances rarely require the exchange of proprietary knowledge.
A)True
B)False
Q2) Explain the concept of informal international alliances. What path do entrepreneurs usually follow with respect to informal international alliances?
Q3) An account framework that goes beyond the traditional measures of profit,return on investment,and shareholder value to include environmental and social dimensions is called
A)the shared bottom line
B)the value proposition
C)the triple bottom line
D)the twin bottom line
Q4) The most pro-active position for a corporation to take in regard to social responsibility would be termed
A)social obligation.
B)social intensity.
C)social responsiveness.
D)social decisiveness.
Page 6
Q5) Why is global thinking important to today's entrepreneurs?
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Chapter 5: Innovation: the Creative Pursuit of Ideas
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30 Verified Questions
30 Flashcards
Source URL: https://quizplus.com/quiz/28110
Sample Questions
Q1) Creative talents can be improved through practice and awareness of habits that can cause problems. However,there are ways to increase creativity; one area is to recognize relationships. Explain what is meant by this.
Q2) Identity and describe two arenas of creativity.
Q3) Overnight package delivery is illustrative of which source of innovation?
A)incongruities
B)unexpected occurrences
C)process needs
D)change in perception
Q4) The cognitive ability of entrepreneurs to acquire and transform information has yet to be studied.
A)True
B)False
Q5) Which of the following mental habits inhibit creativity and innovation?
A)either/or thinking, stereotyping
B)functional perspective, mind-sets
C)security hunting, risks
D)stereotyping, incubation
Q6) Describe the innovation process.
Q7) List and briefly explain each of the phases in the creative process.
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Chapter 6: Assessment of Entrepreneurial Opportunities
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30 Verified Questions
30 Flashcards
Source URL: https://quizplus.com/quiz/28111
Sample Questions
Q1) The decision of an entrepreneur to ignore the market is a safe one if he or she is sure that the idea will be a success.
A)True
B)False
Q2) Name the pitfall described by the statement,"Engineers and technically trained people are particularly prone to falling in love with an idea for a product or service."
A)inadequate understanding of technical requirements
B)lack of venture uniqueness
C)no real insight into the market
D)lack of objective evaluation
Q3) Which of the following is critical to a product's success?
A)timing
B)marketing approach
C)objectivity
D)all of the above
Q4) Surprisingly,growth of sales is generally not considered a critical factor in assessing new ventures.
A)True
B)False
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Chapter 7: Pathways to Entrepreneurial Ventures
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28 Verified Questions
28 Flashcards
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Sample Questions
Q1) What is the role of business brokers in acquiring an established entrepreneurial venture?
Q2) In negotiating a deal to purchase an existing business,it is possible to request that the seller retain a minority interest in the firm.
A)True
B)False
Q3) When should a potential franchisee receive the FDD (Franchise Disclosure Document)?
A)two days before signing a contract or paying any money
B)at least ten days before signing a contract or paying any money
C)two days before signing a contract
D)at least ten days before paying any money
Q4) A ____ is a system of distribution that enables a supplier to arrange for a dealer to handle a specific product or service under certain mutually agreed upon conditions.
A)franchisee
B)franchise
C)franchisor
D)franchiser
Q5) Briefly explain the new-old approach to creating new ventures.
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Chapter 8: Sources of Capital for Entrepreneurs
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30 Verified Questions
30 Flashcards
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Sample Questions
Q1) Which of the following statements is not true of venture capitalists?
A)They want the entrepreneur and the management to run the company.
B)They expect high return on investments.
C)They are interested in trying to manage firms themselves.
D)They take a long time to raise venture capital.
Q2) What are the major types and uses of debt financing?
Q3) Major trends in the venture capital field today include all of the following except
A)less specialized and more homogenous funds
B)emerging feeder funds
C)decrease in start-up investment amounts
D)global reach
Q4) How does a public offering differ from a private placement?
Q5) Because the advantages of going public outweigh the disadvantages,it is in a corporation's best interest to go public.
A)True
B)False
Q6) Are formal firms the only source of venture capital?
Q7) What is the potential future of crowdfunding sites to raise capital with respect to entrepreneurs?
Page 10
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Chapter 9: Legal Challenges of Entrepreneurial Ventures
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30 Verified Questions
30 Flashcards
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Sample Questions
Q1) The registration of a trademark last for 40 years,with continuous renewal every 10 years.
A)True
B)False
Q2) From where does an S corporation take its name? corporation takes its name from
A)Subchapter S of the Internal Revenue Code
B)state law
C)S Lab
D)Uniform Commercial Code
Q3) It often is possible to obtain more capital and a better range of skills in a sole proprietorship than in a partnership.
A)True
B)False
Q4) What does a copyright protect?
Q5) Which of the following are not trademarks?
A)symbols
B)mottos
C)names
D)generic words
Q6) What are the rules for avoiding pitfalls in selecting trademarks?
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Chapter 10: Marketing Challenges for Entrepreneurial Ventures
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30 Verified Questions
30 Flashcards
Source URL: https://quizplus.com/quiz/28115
Sample Questions
Q1) Mobile social media applications can be differentiated based on location-sensitivity as well as on time-sensitivity.
A)True
B)False
Q2) Skimming is setting prices at such a low level that products are sold at a loss.
A)True
B)False
Q3) A market is
A)a group of consumers who have purchasing power and unsatisfied needs
B)a way of gaining consumer data
C)a segment of the economy
D)a group of known purchasers
Q4) Marketing information that has already been compiled is known as secondary data.
A)True
B)False
Q5) Social media marketing is the application of online collaborative media for marketing purposes.
A)True B)False
Q6) What is guerrilla marketing?
Page 12
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Chapter 11: Financial Preparation for Entrepreneurial Ventures
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30 Verified Questions
30 Flashcards
Source URL: https://quizplus.com/quiz/28116
Sample Questions
Q1) Pro forma statements show the firm's present financial position.
A)True
B)False
Q2) The first step in the preparation of the cash flow budget is the identification and timing of cash outflows.
A)True
B)False
Q3) A budget that is a statement of estimated income and expenses over a specified period of time is referred to as an
A)anticipated budget.
B)operating budget.
C)entrepreneurial budget.
D)expected results budget.
Q4) Explain what a cash flow budget tells a manager/owner.
Q5) Break-even analysis is a technique commonly used to assess the A)rate of return on investment.
B)expected product profitability.
C)net present value.
D)total costs.
Q6) Explain pro forma statements. Page 14
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Page 15
Chapter 12: Developing an Effective Business Plan
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30 Verified Questions
30 Flashcards
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Sample Questions
Q1) What is the basic structure of a business plan?
Q2) The comprehensive business plan should be the result of A)reflections on the direction of the venture.
B)continuous operations of the venture.
C)investor's promises of capital.
D)the entrepreneur's best guesses.
Q3) Factors that must be addressed when planning a new venture include setting realistic goals,determining milestones,making a commitment,and having flexibility.
A)True
B)False
Q4) Competitive analysis,advertising plan,and pricing policy are all part of the A)research, design, and development segment.
B)marketing segment.
C)milestone schedule segment.
D)financial plan segment.
Q5) An entrepreneur is much better off preparing his or her own business plan rather than hiring someone else,even if more experienced,to prepare it.
A)True
B)False
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Chapter 13: Strategic Entrepreneurial Growth
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30 Verified Questions
30 Flashcards
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Sample Questions
Q1) All of the following are characteristic of entrepreneurial cultures except:
A)action orientation
B)hierarchy
C)episodic use of required resources
D)multiple informal networks
Q2) The "best" strategic plan will be influenced by the abilities of the entrepreneur,the complexity of the venture,and the nature of the industry.
A)True
B)False
Q3) Participation by subordinates in a strategic plan is never appropriate.
A)True
B)False
Q4) Research has shown a distinct lack of planning on the part of new ventures. A)True
B)False
Q5) Describe what typically takes place during the new-venture development life-cycle stage.
Q6) The entrepreneurial strategy matrix measures risk and innovation. A)True
B)False
Page 17
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Chapter 14: Valuation of Entrepreneurial Ventures
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30 Verified Questions
30 Flashcards
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Sample Questions
Q1) In the context of buying a business,a known commodity may command a higher price for what reason?
A)historical projections have intrinsic value
B)avoiding start-up costs has value
C)property values are variable
D)the value of a founder's stock decreases over time
Q2) Explain the purpose of a letter of intent.
Q3) Knowing a venture's pre-money valuation is not possible.
A)True
B)False
Q4) List and briefly explain the three methods utilized for business evaluation.
Q5) Specific factors of a venture being offered for sale that should be examined include A)age, trends, and future.
B)profits, sales, and operating ratios.
C)employees, suppliers, and competitors.
D)profits, price, product.
Q6) Emotional bias is not an underlying issue in valuing a business.
A)True
B)False
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Chapter 15: Harvesting the Entrepreneurial Venture
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30 Verified Questions
30 Flashcards
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Sample Questions
Q1) The average life expectancy of a privately held firm is
A)24 years.
B)10 years.
C)and indefinite number of years.
D)50 years.
Q2) Which is an influencing factor in succession?
A)family and business cultural issues
B)government regulation
C)current economic conditions
D)the competition
Q3) Nonfamily members sometimes bring pressure on the owner-manager in an effort to protect their personal interests.
A)True
B)False
Q4) Bill and James Raymond have worked for their father's company for 15 years. Their father,who is president and now wants to retire,wants his sons jointly to take over the company. Bill and James have never agreed on anything. Should their father try another succession plan?
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