Exam 1: The Entrepreneurial Lifethe Entrepreneurial Life

Darlene was disappointed with mass-produced children's clothing that fell apart after a couple washings, so she and her few employees began making garments that would hold together until they were outgrown. Darlene's competitive edge is

The universally accepted definition of the term small business is based on the number of people employed by the firm.

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

Many entrepreneurs are highly motivated by the prospect of

Natalie enjoyed yarn crafts so she opened a yarn and craft store in her small town. Sales have been dismal; few people visit her store. Which of the following mistakes did Natalie make?

Walter wanted to be able to make decisions about issues that directly affected his department; however, in his corporation, the managers made all the decisions. So Walter left the corporation and started his own firm. Walter was looking for

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

Match the term with its definition. -Entrepreneurial activity whose goal is to find innovative solutions to social needs, problems, and opportunities

Michael owns a dry-cleaning business. He is planning to retire at the end of the year and his son, Bryant, will take over the business. Bryant is a(n)

A Harris poll inquiring into the reasons that entrepreneurs give for owning a company found that the number-one reason is to

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

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

The material assets and intangible qualities passed on to both heirs and society make up an entrepreneur's

Jasper is so convinced he will succeed that he has mortgaged his home, maxed out his credit cards, and borrowed from his retirement savings to finance his business. Jasper is high in

Small businesses that have great prospects for growth are called

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.

Bill Gates and Steve Ballmer, founders of Microsoft, would be considered

Entrepreneurs are more likely than large companies to capitalize on innovations because

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

Match the term with its definition. -A personality that is pragmatic and likes order and planning operations