Exam 1: The Entrepreneurial Lifethe Entrepreneurial Life

Ursula feels trapped in her dead-end job in a large corporation.She daydreams about opening her own boutique at the seashore.Ursula is:

Match: a.bootstrapping b.entrepreneur c.entrepreneurial legacy d.entrepreneurial team e.franchisee f.gazelle g.lifestyle business h.mentor i.microloans j.paradigm shift k.small business l.technician personality -An entrepreneur whose power is limited by a contractual relationship with an organization

Define entrepreneurial opportunity.Using one of the three success stories in Section 1-2b,explain how the owners identified their opportunity.

Devon believes now is the time to launch his welding business since the only competitor has just announced his retirement.Devon has identified:

The daughter of the owner of a large business disliked her father's criticism and eventually decided to quit the family business and start her own business.The daughter is a

Entrepreneurs should avoid hiring mediocre people.

An entrepreneurial legacy is limited to the tangible assets of the business.

According to the text,managers who buy out founders of existing firms may be classified as entrepreneurs.

Discuss similarities and differences of entrepreneurs and small business owners.

Vincent's business has grown;he now employs 14 people.He enjoys teaching new employees the skills they need to make his products.One of Vincent's reasons for being in business for himself is:

Kevin developed a clever marketing campaign that increased his sales by 48%.Kevin is high in:

Which of the following best fits the definition of a small business?

​Which of the following sectors is one where women-owned businesses are performing especially well?

Josie's position was eliminated when the company moved its operations to another state so she started her own business.Josie is a reluctant entrepreneur.

According to the text,the term entrepreneur refers to small business founders only.

Explain the advantages of a social entrepreneurship.Give an example of such a business.

Most entrepreneurs work shorter hours in their own businesses than they did when working for someone else because they have no boss to report to.

Lucien recently opened a shop to repair antique furniture.Which of the following best describes Lucien?

A primary reason for becoming an entrepreneur should be to create a product or service that improves the lives of customers.

Isabella overheard her customers discussing their desire for more baked treats suitable for diabetics.Immediately she added sugar-free items to her inventory.Isabella has strong: