Enterprise, Business Growth and Size

What is a disadvantage of being an entrepreneur?

• Choosing how to use their time and money

• Lost stable income from not being an

  employee of another business

• Profit and income may be even higher than working as an employee for another business

• Becoming famous and successful if the business grows

Vertical forward integration is when a business merges with or takes over another business that is in the same industry but at an earlier stage of production.

• True

• False

Value of capital employed is a way to measure business size, in businesses that depend mostly on human efforts.

• True

• False

A business merger or takeover, both mean the same thing.

• True

• False

One of the ways that governments can support businesses, is by providing them with grants to train employees.

• True

• False

What is the MOST important characteristic of an entrepreneur?

• Creative

• Risk taker

• Smart

• Good communicator

What is meant by an entrepreneur?

• A person who invests money (capital) into a business

• A business consultant who can give advise on business strategies and decisions

• Someone who is employed as a manager of a business

• A person who organizes, operates and takes the risk for a new business idea

Why do governments support business start-ups?

• Giving consumers more choice and

  competing with existing businesses

• Social enterprises which offer benefits to the society, other than jobs and profits

• The economy benefits from increased output of goods and services

• All of the above

Business objectives, a mission statement, and a product description are examples of what is included in a business plan.

• True

• False

Which one of the below is NOT a way to measure business size?

• Number of output

• Value of sales

• Value of output

• Number of employees