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Heineken begins by exporting its product into new markets, and then ____ to a local brewer to establish its position in the market.

licenses

Language, values, religion, and education all describe which dimension in the international environment?

Sociocultural

Resource development, infrastructure, and exchange rates all describe which dimension in the international environment?

Economic

A country's physical facilities that support economic activities make up its ____.

Infrastructure

A foreign terrorist kidnaps your firm's marketing VP while the VP is in the host country. This is a harsh example of

Political Risk

A loosely knit social framework in which individuals are expected to take care of themselves is called

Individualism

The extent to which trade and investments, information, social and cultural ideas, and political cooperation flow between countries is called:

Globalization

Most of the laws guiding human resource management are based on the

Justice Approach

____ is considered a decision that enables an individual or company to benefit at society's expense.

An unethical behavior

____ is the responsibility that goes beyond societal expectations to contribute to the community welfare.

Discretionary responsibility

The relationship between social responsibility and financial performance has been shown to be ____.

Positive

What is the types of business's that most entrepreneurs start?

Retail, Manufacturing, and Service.

Which of the following demographic factors distinguish entrepreneurs from others?

They are likely children of immigrants

an entrepreneurial characteristic.

external locus of control.

Entrepreneurs tend to

be patient

____ combines creativity, business smarts, passion, and hard work of the traditional entrepreneur with a mission to change the world for better.

Social entrepreneurship

Which of the following is the most cited source of new business ideas?

In-depth understanding of industry/profession

what is an unincorporated business owned by an individual for profit?

Sole proprietorship

A venture capital firm wants to invest in businesses with a high rate of return. In return, they will

invest large amounts of money.
provide necessary assistance and advice.
provide information to help the entrepreneur prosper.

what offers the advantage that the entrepreneur has the ability to develop and design the business in the entrepreneur's own way?

Start a new business

____ refers to an arrangement by which the owner of a product or service allows others to purchase the right to distribute the product or service with help from the owner.

Franchising

During the latter stages of entrepreneurial growth, the manager

must learn to delegate and decentralize authority.
must institute greater use of rules and procedures.
must hire sufficient management to handle the growth.

Alfred is interested in opening his own business, so he pays a visit to the local Small Business Administration (SBA) to learn more about the potential risks. He learns that about _____ percent of all small businesses fail within two years of opening.

30%

All of the following are common reasons why small business ventures fail EXCEPT:

Sloppy accounting
Naive hiring
Lack of controls
Long-term focus 100%
Unrealistic focus

What is the most common way that entrepreneurs finance the start-up of a new business?

from savings or credit cards

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