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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