1. True or false: Small businesses make significant contributions to the economy of the USA.
2. True or false: Entrepreneurs often have personality traits that people admire, but when it comes to business, they will always take a huge risk!
3. Nearly half of all new small businesses fail within five years: the two major reasons for this are... ______________________________________________________________________________.
4. Entrepreneurs often demonstrate a personality trait described as a "magnetic attraction" to people --- people just want to be near and follow this leader. This trait is known as ____________________________ .
5. Two groups that are starting and successfully managing many small businesses today include...
   1. Women
   2. Proctologists
   3. Senior Citizens
   4. Teenagers/Millennials
   5. Comedians
   6. Logistics Experts
6. True or false: Small businesses generate few new patents (ideas for new products and services).
7. In the BCG Matrix, products are described as Stars, Cash Cows, Question Marks and Dogs. A product that is capturing a low market share in a high growth market would be considered a _________________________________ ___________________________.
8. In a medium size manufacturing firm, an HRM specialist was called to help the VP of engineering to make a "replacement chart" for each employee in the engineering department. This management process is known as... ____________________________________ __________________________.
9. Business planning is often performed at one of four "levels", and they are... ____________________________________________________________________________________________________________________________________________________________
10. The management control process includes four steps...
    1. Recruiting and maintaining the best employees
    2. Establishing work standards.
    3. Whipping the employees until they work harder.
    4. Monitor actual worker performance (behavior) --- real results.
    5. Reassign the fastest workers to other departments.
    6. Compare: actual worker behavior to the work standards.
    7. Evaluate and take action.
    8. Replace all workers with automation: robots!