SCNUExamSummerAnswerKey.docx

1、SCNUExamSummerAnswerKeySouth China Normal University Nanhai CampusSummer of 2010Seminar in Entrepreneurship and International ManagementComprehensive Exam July 2nd, 2010This exam consists of 43 questions in multiple choices, true and false, financial analysis and a scenario for a possible total of 2

2、00 points or 20% of your total grade. Questions 1 to 42 are worth 4 points each and question 43 is worth 32 points. The questions cover all material discussed in class for both, the entrepreneurship and management topics as follows: chapter 1 to chapter 8 in entrepreneurship and chapter 1 to chapter

3、 4 in management The questions will be based mainly on the power point presentation and on the notes you have taken from my additional lecture content I have presented verbally and on the black-board. To answer the question, please select the correct answer and mark it with a circle . For a scenario

4、 question or a mathematical problem please follow the instructions in the question. You have 1.5 hour to complete your test. Please feel free to approach your professor should you require additional information. Good luck.Prof. Angelo CamilloChapter 11. According to the ppt presentation, the number

5、one reason that people become entrepreneurs is to:A) realize financial rewardsB) reduce the risk in their livesC) be their own bossD) capture more of the spotlightE) pursue their own ideas2. According to the textbook, entrepreneurs are what kind of risk takers? A) forcefulB) moderateC) highD) lowE)

6、aggressive3. According to our lecture, the most active age range for early stage entrepreneurial activity is:A) 19 to 30 years oldB) 25 to 34 years oldC) 32 to 44 years oldD) 38 to 50 years oldE) 44 to 58 years old4. Which of the following answer represents “a written document that describes all the

7、 aspects of a business venture in a concise manner”?A) business planB) business modelC) operations planD) corporate planE) contingency planChapter 25. Which of the following answer represents the process of generating a novel or useful idea?A) InnovationB) Imagining C) CreativityD) VisualizationE) E

8、nvisioning6. An opportunity is a favorable set of circumstances that creates a need for a new product, service, or business.True_ or False_7. Brainstorming is used to generate a number of ideas quickly.True_ or False_Chapter 38. Which of the following answer is used in surveys as instrument to measu

9、re customer interest in a product or service?A) buying intentionsB) purchase intentC) product demandD) consumer interestE) shopper intent9. Which team represents the group of founders, key employees, and advisers that either manage or help manage a new business in its start-up years.A) opening teamB

10、) entrepreneurial teamC) scout teamD) launch teamE) new venture team10. Feasibility analysis is the process of determining if a business idea is viable.True_ or False_11. Which of the following represents the process of determining whether a business idea is viable?A) Feasibility analysisB) Opportun

11、ity recognitionC) Likelihood analysisD) Achievability analysisE) Scenario analysisChapter 4 12. According to the power points presentation a business plan is best described as a:A) narrative description of a new businessB) contractC) budgetD) agreementE) marketing initiative13. How many pages long s

12、hould a business plan be?A) 40 to 60B) 25 to 40C) 5 to 10D) 25 to 35E) 10 to 1514. Which statement describes why a company exists and what it aspires to become.A) tactical statementB) values statementC) mission statementD) operations statementE) strategic statement15. For most new ventures, the busi

13、ness plan it serves as two purpose document used both inside and outside the firm.True_ or False_Chapter 516. Which of the Porters five-forces model is most closely associated with the concept barrier to entry? A) bargaining power of suppliersB) rivalry among existing firmsC) threat of new entrantsD

14、) bargaining power of buyersE) threat of substitutes17. In the case study we discussed “Yunnan Lucky Air” the company had several government and legal barriers?True_ or False_18. How do you best describe the Chinese Airline Market?A) matureB) consolidatedC) emergingD) globalE) fragmented19. An indus

15、try is an industry that is experiencing significant international sales is considered:A) globalB) matureC) fragmentedD) decliningE) emerging20. The competitive information that is gathered by a firm to learn about its competitors is referred to as a:A) feasibility appraisalB) workable appraisalC) pr

16、actical assessmentD) viable assessmentE) competitive intelligenceChapter 621. Which of the following statement describes why a company exists and what its business model is supposed to accomplish?A) mission statementB) vision statementC) feasibility statementD) duty statementE) responsibility statem

17、ent22. What is a “supplier”? It is a company that:A) purchases a companys productsB) helps a firm put together its network of contactsC) provides startups fundingD) provides startups business adviceE) provides parts or services to another company23. A core competency is a resource or capability that

18、 serves as a source of a firms competitive advantage over its rivals.True_ or False_24. A budget is “an estimate of income and expenditure within a fiscal period”?True_ or False_25. A fiscal year represents a companys tax year and can start and end during any 12 months period and it is not the same

19、as the calendar year?True_ or False_Chapter 726. Which of the following code represents the formal statement of an organizations values on certain ethical and social issues.A) code of conductB) code of behaviorC) code of performanceD) code of principlesE) code of morals27. The most important written

20、 document when starting a company is the “founders agreement”.True_ or False_28. The most common form of business in America and Europe today is: A) Sole proprietorshipB) General partnershipC) CorporationD) Limited Liability Company29. Large companies like 3M, Google, Oracle, and Microsoft, that tra

21、de on the stock exchanges, are:A) Limited partnershipsB) Limited liability companiesC) CorporationsE) General partnershipsChapter 830. Which of the following term represents the ability to earn a profit?A) LiquidityB) ProfitabilityC) EffectivenessD) StabilityE) Efficiency 31. The golden bank rule sa

22、ys that for every dollar of liability a company needs two dollars of assets?True_ or False_32. Money that customers must pay to a company is referred to as:A) accounts obtainableB) accounts payableC) accounts receivableD) inventoryE) accounts collectable33. The estimate of a firms future income and

23、expenses is called: A) Calculation statementsB) ForecastsC) Statements of cash flowD) Financial statementsE) Prediction statements34. The number of angel investors in the United States has increased dramatically over the past decade.True_ or False_Management questions35. There are 3 levels of manage

24、ment in a large organized company: Top, Middle, and First Line level management. True_ or False_36. Which one of the following IS NOT a function of management?a) Planning b) Organizing c) Leading d) Controllinge) Investing 37. Which one of the following skills is top requirement Top Management must

25、have? a) Technical Skillsb) Human Skillsc) Conceptual Skills38. Is managing same as leading?True_ or False_39. Transactional leadership is based on the concept of exchange between leaders and followers. True_ or False_40. Which of the following is not a TRUE type of organization?a) Domestic Organiza

26、tionsb) International Organizationsc) Multinational Organizationsd) Transnational organizatione) Global organizationUSE THIS DATA TO ANSWER QUESTIONS 41 AND 42Arbor Graphics, Inc.ResultsYEAR END RESULTS EXPRESSED IN U.S. $ MILLIONS.2009 DEC. 31Cash and equivalents120 Accounts receivable1,896 Invento

27、ry3,836 Current assets6,036 Total assets19,482 Current liabilities4,678 Total liabilities (debts)13,827 Stockholders equity5,655 Total liability & equity19,482 Sales25,883 Cost of goods sold16,088 Gross profit9,795 Operating income3,537 Interest expense772 Income taxes1,287 Net income1,478 Dividends

28、590 41. Please compute the correct current ratio: 1.291.271.581.0242. Please compute the correct total debt to total asset ratio:70.97%68.42%81.34%70.79%43. Please describe the concept of “EXPATRIATE” within the concept of the CASE STUDY we discussed in class: “SILVIO NAPOLI IN INDIA”. a) What did he right?b) What did he do wrong?c) What do you think he should have done before going to India? Pleased discuss the case in about 50 words, not too many less and not too many more. _