between small
businesses and
high-growth
ventures.
31.
Award: 1.00 point
High-growth ventures differ from small businesses in that in high-growth ventures
the focus is on efficiency rather than effectiveness.
the preferred source of funding is the owner's own money rather than other people's
money.
the human resource system is personalized rather than professionalized.
the limitation of growth is dictated by market response rather than the owner's loss of
control.
In high-growth ventures, the limitation of growth is dictated by market response rather than the
owner's loss of control.
References
Multiple Choice Learning Objective:
01-02 Differentiate
between small
businesses and
high-growth
ventures.
32.
Award: 1.00 point
33.
Award: 1.00 point
According to the text, the definition of a ________ is one that involves 1–50 people and has its
owner managing the business on a day-to-day basis.
franchise
small business
unicorn
high-growth venture
The text uses this definition for a small business.
References
Multiple Choice Learning Objective:
01-01 Understand
the scope of small
business in the
United States.
Which of the following statements is true of a high-growth venture?
A high-growth venture considers sales as more important than marketing.
The metastrategy for a high-growth venture is novelty.
A high-growth venture focuses more on efficiency than on effectiveness.
The loss of control is what limits growth in a high-growth venture.
The metastrategy of a high-growth venture is novelty.
References
Multiple Choice Learning Objective:
01-02 Differentiate
between small
businesses and
high-growth
ventures.
34.
Award: 1.00 point
35.
Award: 1.00 point
A person's belief in his or her ability to achieve a goal is called
effectuation.
perseverance.
overall growth strategy.
self-efficacy.
This is the definition for self-efficacy.
References
Multiple Choice Learning Objective:
01-01 Understand
the scope of small
business in the
United States.
Which of the following is a difference between a small business and a high-growth venture?
For a small business, the preferred funding source is other people's money, whereas for a
high-growth venture, it is the owner's own money.
For a small business, the personal control preference is to involve others, whereas a high-
growth venture prefers to retain autonomy.
A small business focuses on effectiveness, whereas a high-growth venture focuses on
efficiency.
A small business grows when necessary, whereas a high-growth venture grows when
possible.
A small business grows when necessary, whereas a high-growth venture grows when possible.
References
Multiple Choice Learning Objective:
01-02 Differentiate
between small
businesses and
high-growth
ventures.
36.
Award: 1.00 point
37.
Award: 1.00 point
High-growth ventures
use imitation as their metastrategy.
start small but are intended to grow rapidly.
grow only when necessary.
focus on efficiency.
High-growth ventures start small but are intended to grow rapidly.
References
Multiple Choice Learning Objective:
01-02 Differentiate
between small
businesses and
high-growth
ventures.
Which of the following describes the significance of an overall growth strategy?
It represents a driver of the variety of entrepreneurship.
It allows for one small business enterprise to incorporate in multiple states at the same
time.
It provides the owner a stake in the family business.
It helps buyers to get familiar with new products.
Overall growth strategy represents a driver of the variety of entrepreneurship. The overall growth
strategy describes the kind of business the owner (or owners) would like to have, from the
perspective of how fast and to what level they would like the firm to grow.
References
Multiple Choice Learning Objective:
01-02 Differentiate
between small
businesses and
high-growth
ventures.
38.
Award: 1.00 point
39.
Award: 1.00 point
Which of the following is a characteristic of a lifestyle firm?
starts small, rapidly grows to a big business