8
Question 1 of 20

In the United States legal-political environment, changes are slowand legal and political procedures are well established such thatits global political risk stability strategy is:

A. maximum.   

B. high.   

C. moderate.   

D. low.   

 
Question 2 of 20

The international economic environment factor whose timing cansignificantly affect a company’s balance sheet and bottom lineis:

A. inflation rate.   

B. tax policy.   

C. currency exchange rate.   

D. state price support.   

 
Question 3 of 20

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 4 of 20

A business that is characterized by innovative strategic practicesand which has as its main goals profitability and growth iscalled:

A. a small business.   

B. an entrepreneurial venture.   

C. strategically positioned.   

D. a cash cow.   

 
Question 5 of 20

Small firms generate __________ percent of all net new jobsannually.

A. 25 to 34   

B. 35 to 44   

C. 45 to 55   

D. 60 to 80       

 
Question 6 of 20

Which of the following is a strategic advantage of small businessesand entrepreneurial ventures over larger businesses?

A. Willingness to take risks   

B. Seek out new opportunities   

C. Respond quickly to changing conditions   

D. Strategic goals are profitability andgrowth   

 
Question 7 of 20

The strategic management process differs for small businesses andentrepreneurial ventures when compared to larger organizationsbecause small businesses and entrepreneurial ventures have:

A. inexperienced managers.   

B. limited resources.   

C. smaller organizational objectives.   

D. low growth potential.   

 
Question 8 of 20

The competitive strategy choices for small businesses andentrepreneurial ventures are:

A. often limited to focus strategies.   

B. often limited to a differentiatedstrategy.   

C. limited because of technological advances.   

 
Question 9 of 20

The number of markets served by a small organization is determinedpredominantly 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 10 of 20

A strategic advantage of entrepreneurial ventures/ small businessesover large businesses is:

A. economics of scale.   

B. flexibility.   

C. marketing options.   

D. distribution.   

 
Question 11 of 20

Small businesses and entrepreneurial ventures are the driving forceof change in the process of:

A. market positioning.   

B. strategic positioning.   

C. creative destruction.   

D. competitor interrelationships.   

 
Question 12 of 20

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 13 of 20

A not-for-profit organization created, funded, and regulated by thepublic sector or government can be referred to as a(n) __________organization.

A. private-sector   

B. efficient   

C. public-sector   

D. effective   

 
Question 14 of 20

Public sector organizations are most affected by __________constraints.

A. internal   

B. external   

C. efficiency   

D. managerial   

 
Question 15 of 20

Research on community arts organizations has indicated thatPorter’s strategy(ies) of __________ is(are) utilized.

A. cost leadership   

B. differentiation     

C. cost leadership, differentiation, andfocus   

D. differentiation and focus   

 
Question 16 of 20

Both public sector and not-for-profit organizations must developa(n) __________ to ensure their continued existence.

A. competitive advantage   

B. strong management pool   

C. lobbying group   

D. link with companies   

 
Question 17 of 20

To evaluate strategy, there must be a connection between theevaluation and the __________ of the not-for-profitorganization.

A. revenues   

B. goals   

C. objectives (moderate)   

D. goals and objectives   

 
Question 18 of 20

Which of the following is NOT one of the unique strategies thathave been developed for not-for-profit organizations in order tocope with changing environmental conditions?

A. Cause-related marketing   

B. Not-for-profit marketing alliances   

C. Licensing   

D. Direct investment   

 
Question 19 of 20

The strategy, that has the primary intent to enhance the image ofthe supporting company, is known as:

A. cause-related marketing.   

B. not-for-profit marketing alliances.   

C. licensing.   

D. direct investment.   

 
Question 20 of 20

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

A. licensing.   

B. strategic piggybacking.   

C. a not-for-profit marketing alliance.   

D. cause-related marketing.