* not completed

. Within an economy, what proportion of businesses are accounted for by SMEs?

Less than half (<50%) correct incorrect

A quarter (25%) correct incorrect

All correct incorrect

Nearly all (95-99%) correct incorrect

* not completed

. What size are SMEs in the UK context?

Less than 10 employees correct incorrect

More than 250 employees correct incorrect

Between 10 and 249 employees correct incorrect

More than 500 employees correct incorrect

* not completed

. Beyond job creation, why are SMEs important for an economy?

They help to disrupt markets correct incorrect

They lead to unemployment correct incorrect

There are more of them correct incorrect

They weather recessions better than other firms correct incorrect

* not completed

. If a leader of an SME was labelled as 'fraternal', what would this mean?

The leader makes few concessions for employees correct incorrect

The leader sees labour as cheap and plentiful correct incorrect

The leader does not see employee skills as an advantage correct incorrect

The leader allows employees to have discretion and autonomy correct incorrect

* not completed

. Innovation is very important. Which of the following statements about innovation is accurate?

The number of patents granted in the UK is higher than the US correct incorrect

Innovation relates to the start-up phase of a business correct incorrect

The number of patents granted in the UK is lower than the US correct incorrect

Innovation is measured solely by the number of patents granted correct incorrect

* not completed

. From where does the term 'entrepreneur' derive?

It is a made up word correct incorrect

It French word - entre ('between) and prendre ('to take') correct incorrect

It's historical roots are unknown correct incorrect

It's a English word - without a particular meaning correct incorrect

* not completed

. Where do the organizational life cycle models of growth originate?

Chemistry - the growth of a business is akin to a chemical catalyst correct incorrect

Physics - the growth of a business is akin to the expansion of the universe correct incorrect

Biology - the growth of business is akin to the growth of a plant correct incorrect

None of these correct incorrect

* not completed

. Competitive advantage can be defined as:

Following another business into market to steal their approach correct incorrect

The essence of what makes each business different to another business correct incorrect

Disequilibrium in supply and demand correct incorrect

Qualities and competencies than can be employed in different settings correct incorrect

* not completed

. Do you have to start a business to be an entrepreneur?

Yes, you have to start a company. It is the only way! correct incorrect

Yes, you have to start many companies. Serial entrepreneurship is where it is at! correct incorrect

No, entrepreneurship is a way of thinking and acting. correct incorrect

None of the above correct incorrect

* not completed

. What is the gig economy?

It is the section of the economy where technology is extremely important correct incorrect

It is the sector within the economy focused on bands and musicians correct incorrect

It refers to work of a temporary, flexible nature correct incorrect

None of the above correct incorrect

* not completed

. Which of the following is a domain of entrepreneurial orientation?

Risk taking correct incorrect

Wealth correct incorrect

Prior experience correct incorrect

Connectivity correct incorrect

* not completed

. Which of the following is a common business formation activity?

Setting up a bank account correct incorrect

Identifying opportunities correct incorrect

Obtaining a university degree correct incorrect

None of the above correct incorrect