BU470 Online Exam Set-6

Question-1
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-2
A strategic practice in which for-profit businesses link up with a social cause that fits in well with the company's product or service is referred to as:

A. licensing.
B. franchising.
C. cause-related marketing.
D. strategic piggybacking.

Question-3
A business that is characterized by innovative strategic practices and which has as its main goals profitability and growth is called:

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

Question-4
Small businesses account for ________ percent of the private sector output.

A. 10
B. 20
C. 25
D. 50

Question-5
Small businesses are independent businesses that have fewer than ________ employees.

A. 100
B. 200
C. 300
D. 500

Question-6
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-7
The strategic management process differs for small businesses and entrepreneurial ventures when compared to larger organizations because small businesses and entrepreneurial ventures have:

A. inexperienced managers.
B. limited resources.
C. smaller organizational objectives.
D. low growth potential.

Question-8
Small businesses employ over ________ of all private workers.

A. 90 percent
B. 25 percent
C. 50 percent
D. 75 percent

Question-9
Both public sector and not-for-profit organizations must develop a ________ to ensure their continued existence.

A. competitive advantage
B. strong management pool
C. lobbying group
D. link with companies

Question-10
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-11
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-12
All of the following are part of the strategic management process for small businesses except:

A. strategy analysis.
B. strategy formation.
C. strategy evaluation.
D. strategy implementation.

Question-13
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-14
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-15
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.

Question-16
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-17
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-18
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-19
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-20
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

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