SCNUExamSummerAnswerKey.docx
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SCNUExamSummerAnswerKey
SouthChinaNormalUniversity–NanhaiCampus
Summerof2010
SeminarinEntrepreneurshipandInternationalManagement
ComprehensiveExam–July2nd,2010
Thisexamconsistsof43questionsinmultiplechoices,trueandfalse,financialanalysisandascenarioforapossibletotalof200pointsor20%ofyourtotalgrade.Questions1to42areworth4pointseachandquestion43isworth32points.Thequestionscoverallmaterialdiscussedinclassforboth,theentrepreneurshipandmanagementtopicsasfollows:
chapter1tochapter8inentrepreneurshipandchapter1tochapter4inmanagementThequestionswillbebasedmainlyonthepowerpointpresentationandonthenotesyouhavetakenfrommyadditionallecturecontentIhavepresentedverballyandontheblack-board.Toanswerthequestion,pleaseselectthecorrectanswerandmarkitwithacircle.Forascenarioquestionoramathematicalproblempleasefollowtheinstructionsinthequestion.Youhave1.5hourtocompleteyourtest.Pleasefeelfreetoapproachyourprofessorshouldyourequireadditionalinformation.
Goodluck.
Prof.AngeloCamillo
Chapter1
1.Accordingtothepptpresentation,thenumberonereasonthatpeoplebecomeentrepreneursisto:
A）realizefinancialrewards
B）reducetheriskintheirlives
C）betheirownboss
D）capturemoreofthespotlight
E）pursuetheirownideas
2.Accordingtothetextbook,entrepreneursarewhatkindofrisktakers?
A）forceful
B）moderate
C）high
D）low
E）aggressive
3.Accordingtoourlecture,themostactiveagerangeforearlystageentrepreneurialactivityis:
A）19to30yearsold
B）25to34yearsold
C）32to44yearsold
D）38to50yearsold
E）44to58yearsold
4.Whichofthefollowinganswerrepresents“awrittendocumentthatdescribesalltheaspectsofabusinessventureinaconcisemanner”?
A）businessplan
B）businessmodel
C）operationsplan
D）corporateplan
E）contingencyplan
Chapter2
5.Whichofthefollowinganswerrepresentstheprocessofgeneratinganovelorusefulidea?
A）Innovation
B）Imagining
C）Creativity
D）Visualization
E）Envisioning
6.Anopportunityisafavorablesetofcircumstancesthatcreatesaneedforanewproduct,service,orbusiness.
True____or
False____
7.Brainstormingisusedtogenerateanumberofideasquickly.
True____or
False____
Chapter3
8.Whichofthefollowinganswerisusedinsurveysasinstrumenttomeasurecustomerinterestinaproductorservice?
A）buyingintentions
B）purchaseintent
C）productdemand
D）consumerinterest
E）shopperintent
9.Whichteamrepresentsthegroupoffounders,keyemployees,andadvisersthateithermanageorhelpmanageanewbusinessinitsstart-upyears.
A）openingteam
B）entrepreneurialteam
C）scoutteam
D）launchteam
E）newventureteam
10.Feasibilityanalysisistheprocessofdeterminingifabusinessideaisviable.
True____or
False____
11.Whichofthefollowingrepresentstheprocessofdeterminingwhetherabusinessideaisviable?
A）Feasibilityanalysis
B）Opportunityrecognition
C）Likelihoodanalysis
D）Achievabilityanalysis
E）Scenarioanalysis
Chapter4
12.Accordingtothepowerpointspresentationabusinessplanisbestdescribedasa:
A）narrativedescriptionofanewbusiness
B）contract
C）budget
D）agreement
E）marketinginitiative
13.Howmanypageslongshouldabusinessplanbe?
A）40to60
B）25to40
C）5to10
D）25to35
E）10to15
14.Whichstatementdescribeswhyacompanyexistsandwhatitaspirestobecome.
A）tacticalstatement
B）valuesstatement
C）missionstatement
D）operationsstatement
E）strategicstatement
15.Formostnewventures,thebusinessplanitservesastwopurposedocumentusedbothinsideandoutsidethefirm.
True____or
False____
Chapter5
16.WhichofthePorter'sfive-forcesmodelismostcloselyassociatedwiththeconcept"barriertoentry"?
A）bargainingpowerofsuppliers
B）rivalryamongexistingfirms
C）threatofnewentrants
D）bargainingpowerofbuyers
E）threatofsubstitutes
17.Inthecasestudywediscussed“YunnanLuckyAir”thecompanyhadseveralgovernmentandlegalbarriers?
True____or
False____
18.HowdoyoubestdescribetheChineseAirlineMarket?
A）mature
B）consolidated
C）emerging
D）global
E）fragmented
19.Anindustryisanindustrythatisexperiencingsignificantinternationalsalesisconsidered:
A）global
B）mature
C）fragmented
D）declining
E）emerging
20.Thecompetitiveinformationthatisgatheredbyafirmtolearnaboutitscompetitorsisreferredtoasa:
A）feasibilityappraisal
B）workableappraisal
C）practicalassessment
D）viableassessment
E）competitiveintelligence
Chapter6
21.Whichofthefollowingstatementdescribeswhyacompanyexistsandwhatitsbusinessmodelissupposedtoaccomplish?
A）missionstatement
B）visionstatement
C）feasibilitystatement
D）dutystatement
E）responsibilitystatement
22.Whatisa“supplier”?
Itisacompanythat:
A）purchasesacompany'sproducts
B）helpsafirmputtogetheritsnetworkofcontacts
C）providesstartups'funding
D）providesstartups'businessadvice
E）providespartsorservicestoanothercompany
23.Acorecompetencyisaresourceorcapabilitythatservesasasourceofafirm'scompetitiveadvantageoveritsrivals.
True____or
False____
24.Abudgetis“anestimateofincomeandexpenditurewithinafiscalperiod”?
True____or
False____
25.Afiscalyearrepresentsacompany’staxyearandcanstartandendduringany12monthsperiodanditisnotthesameasthecalendaryear?
True____or
False____
Chapter7
26.Whichofthefollowingcoderepresentstheformalstatementofanorganization'svaluesoncertainethicalandsocialissues.
A）codeofconduct
B）codeofbehavior
C）codeofperformance
D）codeofprinciples
E）codeofmorals
27.Themostimportantwrittendocumentwhenstartingacompanyisthe“founders'agreement”.
True____or
False____
28.ThemostcommonformofbusinessinAmericaandEuropetodayis:
A）Soleproprietorship
B）Generalpartnership
C）Corporation
D）LimitedLiabilityCompany
29.Largecompanieslike3M,Google,Oracle,andMicrosoft,thattradeonthestockexchanges,are:
A）Limitedpartnerships
B）Limitedliabilitycompanies
C）Corporations
E）Generalpartnerships
Chapter8
30.Whichofthefollowingtermrepresentstheabilitytoearnaprofit?
A）Liquidity
B）Profitability
C）Effectiveness
D）Stability
E）Efficiency
31.Thegoldenbankrulesaysthatforeverydollarofliabilityacompanyneedstwodollarsofassets?
True____or
False____
32.Moneythatcustomersmustpaytoacompanyisreferredtoas:
A）accountsobtainable
B）accountspayable
C）accountsreceivable
D）inventory
E）accountscollectable
33.Theestimateofafirm'sfutureincomeandexpensesiscalled:
A）Calculationstatements
B）Forecasts
C）Statementsofcashflow
D）Financialstatements
E）Predictionstatements
34.ThenumberofangelinvestorsintheUnitedStateshasincreaseddramaticallyoverthepastdecade.
True____or
False____
Managementquestions
35.Thereare3levelsofmanagementinalargeorganizedcompany:
Top,Middle,andFirstLinelevelmanagement.
True____or
False____
36.WhichoneofthefollowingISNOTafunctionofmanagement?
a）Planning
b）Organizing
c）Leading
d）Controlling
e）Investing
37.WhichoneofthefollowingskillsistoprequirementTopManagementmusthave?
a）TechnicalSkills
b）HumanSkills
c）ConceptualSkills
38.Ismanagingsameasleading?
True____or
False____
39.Transactionalleadershipisbasedontheconceptofexchangebetweenleadersandfollowers.
True____or
False____
40.WhichofthefollowingisnotaTRUEtypeoforganization?
a）DomesticOrganizations
b）InternationalOrganizations
c）MultinationalOrganizations
d）Transnationalorganization
e）Globalorganization
USETHISDATATOANSWERQUESTIONS41AND42
ArborGraphics,Inc.
Results
YEARENDRESULTSEXPRESSEDINU.S.$MILLIONS.
2009DEC.31
Cashandequivalents
120
Accountsreceivable
1,896
Inventory
3,836
Currentassets
6,036
Totalassets
19,482
Currentliabilities
4,678
Totalliabilities（debts）
13,827
Stockholders'equity
5,655
Totalliability&equity
19,482
Sales
25,883
Costofgoodssold
16,088
Grossprofit
9,795
Operatingincome
3,537
Interestexpense
772
Incometaxes
1,287
Netincome
1,478
Dividends
590
41.Pleasecomputethecorrectcurrentratio:
1.29
1.27
1.58
1.02
42.Pleasecomputethecorrecttotaldebttototalassetratio:
70.97%
68.42%
81.34%
70.79%
43.Pleasedescribetheconceptof“EXPATRIATE”withintheconceptoftheCASESTUDYwediscussedinclass:
“SILVIONAPOLIININDIA”.
a）Whatdidheright?
b）Whatdidhedowrong?
c）WhatdoyouthinkheshouldhavedonebeforegoingtoIndia?
Pleaseddiscussthecaseinabout50words,nottoomanylessandnottoomanymore.
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