Exam 1: The Entrepreneurial Lifethe Entrepreneurial Life

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 -A change in how we fundamentally see a situation

Malinda wants to start a restaurant in her city of about 50,000 people.There are already 325 restaurants in this city.Malinda's reasons include that she is a good cook who enjoys working in the kitchen and she wants to involve her three children aged 9 to 15 in the venture.She has not decided what types of foods she will offer.If Malinda launches this business,do you think it will succeed? Why or why not? What advice would you give her?

The term bootstrapping refers to the practice of bartering rather than buying with cash or credit.

Xavier believed his labor was only making others rich while he struggled from paycheck to paycheck.He started his own small business and now labors only for himself.Xavier's motivation is:

Eduardo took out a second mortgage on his home to finance his new business.He makes all the decisions and keeps all the profits.Eduardo is:

Lydia works as a senior network administrator and is dissatisfied with the stifling bureaucratic environment of her job.She is considering venturing out on her own as a consultant.If she carries through with her intentions,she would be considered a(n)

Henry is well respected by his employees.He models the highest integrity and encourages teamwork.What attribute does Henry display?

The mission of XYZ Company is to reduce landfill waste by recycling plastic containers into other useful products.XYZ Company is a social entrepreneurship.

Sally,a single mother,opened a florist shop to support her family after losing her job in a corporate layoff.She is a(n)

A corporate manager chafes under red tape and bureaucratic regulations until finally deciding to start a separate business.The apparent reward he seeks is

The first goal of an entrepreneur should be:

Garner places great emphasis on operating his business to the highest standards of honesty and ethics.Garner likely believes:

Tatiana was laid off from her manufacturing job and in desperation launched a business providing transportation services for the non-drivers in her community.We would classify Tatiana as:

Identify and explain the four fundamental reasons entrepreneurs own their own businesses.