Entrepreneurship The Art Science and Process for Success Charles Bamford 3rd Edition

ISBN-13: 978-1259912191, ISBN-10: 1259912191

Chapter 1   The Twenty-First-Century Entrepreneur

1) Entrepreneurial business is not important to the U.S. economy.

2) The United States Small Business Administration (SBA) provides a wealth of information and assistance at all levels of organizational development and management for new entrepreneurial businesses.

3) A critical element that an entrepreneur must solve for success is to develop the ability to generate consistent and growing sales.

4) Profit margins are key to successful businesses.

5) Corporate America employs more people now than it did 10 years ago.

6) Small companies can take advantage of economies of scale better than large firms.

7) The rate of small-business failure has declined.

8) Alexis de Tocqueville, the French statesman, stated, “United States was not so much a nation with ventures … but instead a nation of innumerable small ventures.”

9) Charles Wilson, secretary of defense for President Eisenhower, stated, “What is good for General Motors is good for the nation.”

10) In the late 1970s and 1980s, the United States occupied the dominant economic position in the world.