Question 1

The success of any new venture depends on which of the following?

Accepted Answer

A)  Knowledge. 
B)  Skills. 
C)  Social networks. 
D)  Talents. 
E)  All of the above are important. 
A)  Knowledge. 
B)  Skills. 
C)  Social networks. 
D)  Talents. 
E)  All of the above are important.

Question 2

An entrepreneur is contemplating what happened during the first year of operations of her business. There were several "good" things that happened and she is sure that these happened because of her business skill. The few negatives,including a competitor that was more aggressive than she anticipated,were attributed to things that she thought she couldn't have seen. Which of the following describes what this entrepreneur is probably doing?

Accepted Answer

A)  Self-serving bias. 
B)  Microexpressions. 
C)  Interchannel discrepancies. 
D)  Conscientiousness. 
E)  Other-enhancement. 
A)  Self-serving bias. 
B)  Microexpressions. 
C)  Interchannel discrepancies. 
D)  Conscientiousness. 
E)  Other-enhancement.

Question 3

Which of the following does NOT describe constructive criticism?

Accepted Answer

A)  Does not contain threats. 
B)  Is specific. 
C)  Focuses on the recipient. 
D)  Is timely. 
E)  All of the above describe constructive criticism. 
A)  Does not contain threats. 
B)  Is specific. 
C)  Focuses on the recipient. 
D)  Is timely. 
E)  All of the above describe constructive criticism.

Question 4

What is the "Big Five?"

Accepted Answer

The "Big Five" refers to a personality i

Question 5

Which of the following is NOT one of the "Big Five Dimensions" of personality?

Accepted Answer

A)  Conscientiousness. 
B)  Extraversion-introversion. 
C)  Perceiver-judger. 
D)  Agreeableness. 
E)  All of the above are part of the "Big Five Dimensions." 
A)  Conscientiousness. 
B)  Extraversion-introversion. 
C)  Perceiver-judger. 
D)  Agreeableness. 
E)  All of the above are part of the "Big Five Dimensions."

Question 6

Relevant previous entrepreneurial experience tends to increase the probability that a new firm will be successful.

Accepted Answer

A) True 
 B)False

Question 7

An entrepreneur finds that he is having difficulty "getting everything done." Work is interfering with family things. Attending children's events at school is taking time away from work and spouse,etc. This entrepreneur is feeling

Accepted Answer

A)  equity. 
B)  clear role definition. 
C)  cognitive appraisal. 
D)  financial assessment. 
E)  stress.. 
A)  equity. 
B)  clear role definition. 
C)  cognitive appraisal. 
D)  financial assessment. 
E)  stress..

Question 8

Social capital refers to the knowledge,skills,talents,and abilities of the founders and employees of a business.

Accepted Answer

A) True 
 B)False

Question 9

Conscientiousness,one of the "Big Five Dimensions," is

Accepted Answer

A)  the extent to which individuals are hardworking, organized, dependable, and persevering versus sluggish, disorganized, and unreliable. 
B)  the degree to which individuals are gregarious, assertive, and sociable versus being reserved, timid, and quiet. 
C)  the extent to which individuals are cooperative, courteous, trusting, and agreeable versus uncooperative, disagreeable, and belligerent. 
D)  the degree to which individuals are insecure, anxious, depressed, and emotional versus calm, self-confident, and secure. 
E)  none of the above. 
A)  the extent to which individuals are hardworking, organized, dependable, and persevering versus sluggish, disorganized, and unreliable. 
B)  the degree to which individuals are gregarious, assertive, and sociable versus being reserved, timid, and quiet. 
C)  the extent to which individuals are cooperative, courteous, trusting, and agreeable versus uncooperative, disagreeable, and belligerent. 
D)  the degree to which individuals are insecure, anxious, depressed, and emotional versus calm, self-confident, and secure. 
E)  none of the above.

Question 10

When dealing with the similarity and complementarity approach related to co-founders starting a business,it is best to focus primarily on similarity with respect to personal characteristics and motives rather than on complementarity of knowledge,skills,and experience.

Accepted Answer

A) True 
 B)False

Question 11

Since businesses that are just started are small,it is recommended that they not have a board of directors..

Accepted Answer

A) True 
 B)False

Question 12

Corporations are usually required by law to have a board of directors;unincorporated new businesses are required by law to have a board of advisers.

Accepted Answer

A) True 
 B)False

Question 13

The knowledge,skills,talents,and abilities of the founders and employees of a new business are known as

Accepted Answer

A)  social capital. 
B)  human capital. 
C)  financial capital. 
D)  venture capital. 
E)  social competence. 
A)  social capital. 
B)  human capital. 
C)  financial capital. 
D)  venture capital. 
E)  social competence.

Question 14

An entrepreneur who wants to start a business is making a list of the people she know who might have information or contacts that could help her in starting the business. She is assessing her

Accepted Answer

A)  human capital. 
B)  financial capital. 
C)  deception capital. 
D)  social capital. 
E)  None of the above. 
A)  human capital. 
B)  financial capital. 
C)  deception capital. 
D)  social capital. 
E)  None of the above.

Question 15

When someone perceives that the distribution of rewards is unfair,which of the following might they do?

Accepted Answer

A)  Demand a larger share. 
B)  Reduce their contributions. 
C)  Withdraw physically. 
D)  Withdraw psychologically. 
E)  Any of the above. 
A)  Demand a larger share. 
B)  Reduce their contributions. 
C)  Withdraw physically. 
D)  Withdraw psychologically. 
E)  Any of the above.

Question 16

Which of the following applies to a business having temporary employees?

Accepted Answer

A)  Temporary employees increase fixed costs. 
B)  They may have lower commitment than permanent employees. 
C)  The length of their employment cannot be extended past the original date. 
D)  They almost always have higher motivation than permanent employees. 
E)  It is better for a new business to have temporary employees rather than permanent employees. 
A)  Temporary employees increase fixed costs. 
B)  They may have lower commitment than permanent employees. 
C)  The length of their employment cannot be extended past the original date. 
D)  They almost always have higher motivation than permanent employees. 
E)  It is better for a new business to have temporary employees rather than permanent employees.

Question 17

In the "Big Five," the extent to which individuals are creative,curious,and have wide-ranging interests versus being practical and have narrow interests is referred to as

Accepted Answer

A)  extraversion-introversion. 
B)  agreeableness. 
C)  motives. 
D)  emotional stability. 
E)  openness to experience. 
A)  extraversion-introversion. 
B)  agreeableness. 
C)  motives. 
D)  emotional stability. 
E)  openness to experience.

Question 18

For success,an entrepreneur needs a wide range of information and skills,which is very likely to be present when all members of the founding team are highly similar to one another in important ways.

Accepted Answer

A) True 
 B)False

The success of any new venture depends on which of the following?

Which of the following does NOT describe constructive criticism?

What is the "Big Five?"

Which of the following is NOT one of the "Big Five Dimensions" of personality?

Relevant previous entrepreneurial experience tends to increase the probability that a new firm will be successful.

An entrepreneur finds that he is having difficulty "getting everything done." Work is interfering with family things. Attending children's events at school is taking time away from work and spouse,etc. This entrepreneur is feeling

Social capital refers to the knowledge,skills,talents,and abilities of the founders and employees of a business.

Conscientiousness,one of the "Big Five Dimensions," is

When dealing with the similarity and complementarity approach related to co-founders starting a business,it is best to focus primarily on similarity with respect to personal characteristics and motives rather than on complementarity of knowledge,skills,and experience.

Since businesses that are just started are small,it is recommended that they not have a board of directors..

Corporations are usually required by law to have a board of directors;unincorporated new businesses are required by law to have a board of advisers.

The knowledge,skills,talents,and abilities of the founders and employees of a new business are known as

An entrepreneur who wants to start a business is making a list of the people she know who might have information or contacts that could help her in starting the business. She is assessing her

When someone perceives that the distribution of rewards is unfair,which of the following might they do?

Which of the following applies to a business having temporary employees?

In the "Big Five," the extent to which individuals are creative,curious,and have wide-ranging interests versus being practical and have narrow interests is referred to as

For success,an entrepreneur needs a wide range of information and skills,which is very likely to be present when all members of the founding team are highly similar to one another in important ways.

Entrepreneurship:: A Field, an Activity - and a Way of Life

Entrepreneurial Opportunities: Their Origins, Forms, and Suitability For New Ventures

Cognitive Foundations of Entrepreneurship: Creativity and Opportunity Recognition

What Entrepreneurs Need to Know Before They Start: Acquiring and Interpreting Information About Markets Competitors and Government

Financial Resources For New Ventures: How To Get Them, How To Manage Them

Writing An Effective Business Plan: Building A Road Map to Success

Legal Issues Relating To New Ventures: Protecting Your Reputation, Your Assets, And Your Ideas

Marketing in a New Venture

Strategy: Planning For Competitive Advantage

Preparing For And Attaining Growth: Strategies For Building Lasting Success

Managing New Ventures For Growth

Exit Strategies For Entrepreneurs: The Concluding Act

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Exam 5: Assembling the Team: Acquiring and Utilizing Essential Human Capital

The success of any new venture depends on which of the following?

Which of the following does NOT describe constructive criticism?

What is the "Big Five?"

Which of the following is NOT one of the "Big Five Dimensions" of personality?

Relevant previous entrepreneurial experience tends to increase the probability that a new firm will be successful.

An entrepreneur finds that he is having difficulty "getting everything done." Work is interfering with family things. Attending children's events at school is taking time away from work and spouse,etc. This entrepreneur is feeling

Social capital refers to the knowledge,skills,talents,and abilities of the founders and employees of a business.

Conscientiousness,one of the "Big Five Dimensions," is

When dealing with the similarity and complementarity approach related to co-founders starting a business,it is best to focus primarily on similarity with respect to personal characteristics and motives rather than on complementarity of knowledge,skills,and experience.

Since businesses that are just started are small,it is recommended that they not have a board of directors..

Corporations are usually required by law to have a board of directors;unincorporated new businesses are required by law to have a board of advisers.

The knowledge,skills,talents,and abilities of the founders and employees of a new business are known as

An entrepreneur who wants to start a business is making a list of the people she know who might have information or contacts that could help her in starting the business. She is assessing her

When someone perceives that the distribution of rewards is unfair,which of the following might they do?

Which of the following applies to a business having temporary employees?

In the "Big Five," the extent to which individuals are creative,curious,and have wide-ranging interests versus being practical and have narrow interests is referred to as

For success,an entrepreneur needs a wide range of information and skills,which is very likely to be present when all members of the founding team are highly similar to one another in important ways.

Entrepreneurship:: A Field, an Activity - and a Way of Life

Entrepreneurial Opportunities: Their Origins, Forms, and Suitability For New Ventures

Cognitive Foundations of Entrepreneurship: Creativity and Opportunity Recognition

What Entrepreneurs Need to Know Before They Start: Acquiring and Interpreting Information About Markets Competitors and Government

Financial Resources For New Ventures: How To Get Them, How To Manage Them

Writing An Effective Business Plan: Building A Road Map to Success

Legal Issues Relating To New Ventures: Protecting Your Reputation, Your Assets, And Your Ideas

Marketing in a New Venture

Strategy: Planning For Competitive Advantage

Preparing For And Attaining Growth: Strategies For Building Lasting Success

Managing New Ventures For Growth

Exit Strategies For Entrepreneurs: The Concluding Act

Filters