Question 1: The number of markets served by a small organization is determined predominantly by:

A. the resources of the organization.

B. the size of the organization.

C. the management of the organization.

D. strategic planning in the organization.

Question 2: Charles Hanson just opened Chuck's Bikes and Trikes, a motorcycle repair facility. Charles has 25 employees even though the repair facility is located in a small rural town. Chuck's Bikes and Trikes is an example of:

A. an entrepreneurial venture.

B. a small business.

C. an innovative business.

D. All of the answer choices are correct.

Question 3: All of the following organizations are examples of social service NFPs except:

A. Junior League.

B. American Red Cross.

C. Mothers Against Drunk Drivers.

D. Academy of Management.

Question 4: Which of the following is not one of the unique strategies that have been developed for not-for-profit organizations in order to cope with changing environmental conditions?

A. Cause-related marketing

B. Not-for-profit marketing alliances

C. Licensing

D. Direct investment

Question 5: The competitive strategy choices for small businesses and entrepreneurial ventures are:

A. often limited to focus strategies.

B. often limited to a low-cost strategy.

C. often limited to a differentiated strategy.

D. limited because of technological advances.

Question 6: Small businesses are independent businesses that have fewer than ________ employees.

A. 100

B. 200

C. 300

D. 500

Question 7: Which of these is NOT a characteristic of entrepreneurial ventures?

A. Little impact on industry

B. Innovative practices

C. Pursue opportunities

D. Have growth and profitability as main goals

Question 8: A not-for-profit organization must meet the requirements of ________ of the U.S. Internal Revenue Service tax code.

A. Section 501(c)(3)

B. Section 301(d)(4)

C. Section 503(c)(4)

D. Section 401(c)(3)

Question 9: According to the Global Entrepreneurship Monitor (GEM) 2011 report, there are more than ________ million entrepreneurs in the 54 countries covered.

A. 25

B. 36

C. 400

D. 250

Question 10: Small businesses and entrepreneurial ventures are the driving force of change in the process of:

A. market positioning.

B. strategic positioning.

C. creative destruction.

D. competitor interrelationships.

Question 11: An example of a cause-related NFP is:

A. Camp Fire.

B. the University of Minnesota.

C. Save the Whales.

D. Bill and Melinda Gates Foundation.

Question 12: To evaluate strategy, there must be a connection between the evaluation and the ________ of the not-for-profit organization.

A. revenues

B. goals

C. objectives (moderate)

D. goals and objectives

Question 13: A strategic partnership between a not-for-profit organization and a corporate partner is referred to as:

A. licensing.

B. strategic piggybacking.

C. a not-for-profit marketing alliance.

D. cause-related marketing.

Question 14: Small businesses employ over ________ of all private workers.

A. 90 percent

B. 25 percent

C. 50 percent

D. 75 percent

Question 15: The not-for-profit marketing alliance is an extension of:

A. mergers and acquisitions.

B. divestment.

C. cause-related marketing.

D. licensing.

Question 16: A strategic advantage of entrepreneurial ventures/small businesses over large businesses is:

A. economics of scale.

B. flexibility.

C. marketing options.

D. distribution.

Question 17: Research on community arts organizations has indicated that Porter's strategies of ________ are utilized.

A. cost leadership, innovation, and focus

B. differentiation and focus

C. innovation and focus

D. cost leadership, differentiation, and focus

Question 18: An alliance in which the not-for-profit organization proposes and initiates the partnership is referred to as:

A. a not-for-profit marketing alliance.

B. cause-related marketing.

C. effect-related marketing.

D. licensing.

Question 19: A small business is NOT characterized by:

A. being independently owned.

B. having fewer than 100 employees.

C. engaging in innovative practices.

D. having little impact on its industry.

Question 20: Chuck Hanson encourages his employees to come with new ideas and ways to do business to replace existing practices. This process is called:

A. destructive creativity.

B. innovation.

C. creative destruction.

D. applied creativity.