Exam 1: The Entrepreneurial Lifethe Entrepreneurial Life

Devon believes now is the time to launch his welding business because the only competitor has just announced his retirement. Devon is in which state of entrepreneurship?

There is no single definition of entrepreneurship.

Bailey works as a self-employed golf pro at the local country club, allowing him to spend more time with his young family. He'll never earn much, but he and his family are happy. Which type of small business does Bailey have?

An entrepreneur who bootstraps would resort to bartering or using a personal credit card.

Adam has contracted with about a third of the dozens of artisans in his town in the mountains of South Carolina. His reputation has grown; he now believes the sky's the limit for this website design and maintenance business. What kind of small business does Adam have?

Which of the following is the foundation of all relationships, including those in business?

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

An entrepreneur's success generally arises from all of the following EXCEPT

A paradigm shift is

Geraldo often would rather go fishing than work his business. According to Stephen Spinelli and Robert Adams, which entrepreneurial characteristics does Geraldo lack?

Match the term with its definition. -A personality that focuses on the business and providing results for the customer

Match the term with its definition. -A personality that focuses on an already developed technical skill, wants to be left alone to get the job done, and is primarily concerned about the present

A firm that provides substantial profits to its owner is called a(n)

Legend holds that Abraham Lincoln walked miles to return two cents change to a customer. His actions demonstrate

Zelda worked for years in a medical clinic as a biller and coder. Now she operates her own billing service for several doctors. Zelda has a(n) _____ personality.

Match the term with its definition. -Material assets and intangible qualities passed on to both heirs and society

Henry is well respected by his employees. He has the ability to self-motivate and team-build with a focus on honesty in business relationships. What attribute does Henry display?

Managers who buy out founders of existing firms may be classified as entrepreneurs.