Small Business An Entrepreneur’s Business Plan 9th Edition By Gail Hiduke – Test Bank

Chapter 11—Build, Maintain, and Thrive with a Winning Team

TRUE/FALSE

1. To build a winning team you must inspire your employees with your passion.

ANS: T PTS: 1 REF: p. 298

2. When building a team, aptitude should always be considered, not attitude.

ANS: F PTS: 1 REF: p. 298

3. Strive to consistently communicate your vision, as owner, to all members of your team.

ANS: T PTS: 1 REF: p. 298

4. Most entrepreneurs can perform all necessary business tasks without help from others.

ANS: F PTS: 1 REF: p. 298

5. Investors want you to learn on your dime and time, not theirs.

ANS: T PTS: 1 REF: p. 299

6. Information about the founding team is the least read section of the business plan.

ANS: F PTS: 1 REF: p. 299

7. Corporate downsizing has made it more difficult to find people to work for you.

ANS: F PTS: 1 REF: p. 300

8. A joint venture is a partnership formed between companies to form a competitive advantage.

ANS: F PTS: 1 REF: p. 301

9. Many people misunderstand the rules regarding independent contractors.

ANS: T PTS: 1 REF: p. 302

10. State employee laws may be more stringent than Federal laws.

ANS: T PTS: 1 REF: p. 302

11. The benefits of employee leasing generally do not exceed the cost.

ANS: F PTS: 1 REF: p. 303

12. Some small firms never hire full time employees.

ANS: T PTS: 1 REF: p. 304