Question 1

Small businesses are independent businesses that have fewer than ________ employees.

Accepted Answer

A)   100
B)   200
C)   300
D)   500
E)   1000

Question 2

Strategic piggybacking is the development of a new activity that would generate revenue for the not-for-profit organization.

Accepted Answer

A) True 
 B)False

Question 3

Small businesses and entrepreneurial ventures can compete successfully in narrow market niches by developing a low-cost, differentiation, or integrated competitive advantage.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following is a strategic advantage of small businesses and entrepreneurial ventures over larger businesses?

Accepted Answer

A)   Willingness to take risks
B)   Seek out new opportunities
C)   Respond quickly to changing conditions
D)   Strategic goals are profitability and growth
E)   None of the answer choices is correct.

Question 5

According to the Global Entrepreneurship Monitor (GEM) 2011 report, there are more than ________ million entrepreneurs in the 54 countries covered.

Accepted Answer

A)   25
B)   36
C)   400
D)   250
E)   700

Question 6

A strategic advantage of entrepreneurial ventures/small businesses over large businesses is

Accepted Answer

A)   economics of scale.
B)   flexibility.
C)   marketing options.
D)   distribution.
E)   profit potential.

Question 7

The main difference between large and small organizations' strategy evaluation efforts will be in terms of the magnitude or extent of evaluation that is done.

Accepted Answer

A) True 
 B)False

Question 8

Entrepreneurial ventures and small businesses are not the same.

Accepted Answer

A) True 
 B)False

Question 9

A small business is one that has fewer than 100 employees.

Accepted Answer

A) True 
 B)False

Question 10

An alliance in which the not-for-profit organization proposes and initiates the partnership is referred to as

Accepted Answer

A)   a not-for-profit marketing alliance.
B)   cause-related marketing.
C)   effect-related marketing.
D)   licensing.
E)   strategic piggybacking.

Question 11

One study reported that the global nonprofit sector had total operating expenditures of over ________ trillion

Accepted Answer

A)   $1.6
B)   $2.5
C)   $3
D)   $5
E)   $6

Question 12

Chuck's Bikes and Trikes is likely using the ________ strategy.

Accepted Answer

A)   differentiation
B)   low cost
C)   focus
D)   best cost
E)   All of the answer choices are correct.

Question 13

A business that is characterized by innovative strategic practices and which has as its main goals profitability and growth is called

Accepted Answer

A)   a small business.
B)   an entrepreneurial venture.
C)   strategically positioned.
D)   a cash cow.
E)   a star.

Question 14

The number of markets served by a small organization is determined predominantly by

Accepted Answer

A)   the resources of the organization.
B)   the size of the organization.
C)   the management of the organization.
D)   strategic planning in the organization.
E)   the culture of the organization.

Question 15

A not-for-profit organization created, funded, and regulated by the public sector or government can be referred to as

Accepted Answer

A)   a private-sector organization.
B)   an efficient organization.
C)   a public-sector organization.
D)   an effective organization.
E)   a quasi-government organization.

Question 16

One difference between an entrepreneurial venture and a small business is the former's

Accepted Answer

A)   willingness to take risks
B)   innovative strategic practices
C)   strategic goals are profitability and growth
D)   interest in seeking out new opportunities
E)   All of the answer choices are correct.

Question 17

Chuck Hanson encourages his employees to come with new ideas and ways to do business to replace existing practices. This process is called

Accepted Answer

A)   destructive creativity.
B)   innovation.
C)   creative destruction.
D)   All of the answer choices are correct.
E)   None of the answer choices is correct.

Question 18

Both small businesses and entrepreneurial ventures play an important role in the global economy.

Accepted Answer

A) True 
 B)False

Question 19

The strategic management process differs for small businesses and entrepreneurial ventures when compared to larger organizations because

Accepted Answer

A)   small businesses and entrepreneurial ventures have inexperienced managers.
B)   small businesses and entrepreneurial ventures have limited resources.
C)   small businesses and entrepreneurial ventures have smaller organizational objectives.
D)   small businesses and entrepreneurial ventures have low growth potential.
E)   small businesses and entrepreneurial ventures have more exposure to lobbying groups.

Question 20

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?

Accepted Answer

A)   Cause-related marketing
B)   Not-for-profit marketing alliances
C)   Licensing
D)   Direct investment
E)   Strategic piggybacking

Exam 8: Module Special Topics in Strategy

Chuck's Bikes and Trikes is likely using the ________ strategy.

Correct AnswerverifiedShow Answer

Which of the following is a strategic advantage of small businesses and entrepreneurial ventures over larger businesses?

Correct AnswerverifiedShow Answer

The number of markets served by a small organization is determined predominantly by

Correct AnswerverifiedShow Answer

Small businesses and entrepreneurial ventures can compete successfully in narrow market niches by developing a low-cost, differentiation, or integrated competitive advantage.

Correct AnswerverifiedShow Answer

A not-for-profit organization created, funded, and regulated by the public sector or government can be referred to as

Correct AnswerverifiedShow Answer

A strategic advantage of entrepreneurial ventures/small businesses over large businesses is

Correct AnswerverifiedShow Answer

One study reported that the global nonprofit sector had total operating expenditures of over ________ trillion

Correct AnswerverifiedShow Answer

The main difference between large and small organizations' strategy evaluation efforts will be in terms of the magnitude or extent of evaluation that is done.

Correct AnswerverifiedShow Answer

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?

Correct AnswerverifiedShow Answer

A small business is one that has fewer than 100 employees.

Correct AnswerverifiedShow Answer

The strategic management process differs for small businesses and entrepreneurial ventures when compared to larger organizations because

Correct AnswerverifiedShow Answer

Small businesses are independent businesses that have fewer than ________ employees.

Correct AnswerverifiedShow Answer

Entrepreneurial ventures and small businesses are not the same.

Correct AnswerverifiedShow Answer

Chuck Hanson encourages his employees to come with new ideas and ways to do business to replace existing practices. This process is called

Correct AnswerverifiedShow Answer

Strategic piggybacking is the development of a new activity that would generate revenue for the not-for-profit organization.

Correct AnswerverifiedShow Answer

A business that is characterized by innovative strategic practices and which has as its main goals profitability and growth is called

Correct AnswerverifiedShow Answer

An alliance in which the not-for-profit organization proposes and initiates the partnership is referred to as

Correct AnswerverifiedShow Answer

Both small businesses and entrepreneurial ventures play an important role in the global economy.

Correct AnswerverifiedShow Answer

According to the Global Entrepreneurship Monitor (GEM) 2011 report, there are more than ________ million entrepreneurs in the 54 countries covered.

Correct AnswerverifiedShow Answer

One difference between an entrepreneurial venture and a small business is the former's

Correct AnswerverifiedShow Answer

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