Question 1

A franchised restaurant is an example of a hierarchical mode of business.

Accepted Answer

A) True 
 B)False

Question 2

A restaurant that grows its own vegetables is vertically integrated.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following is true about advantages for the entrepreneur when he or she forms an alliance or partnership with an established firm?

Accepted Answer

A)  The entrepreneur can take advantage of the established facilities. 
B)  The entrepreneur can imitate the firm's existing production functions. 
C)  The entrepreneur can take advantage of the firm's brand name. 
D)  All of the above are advantages. 
E)  None of the above are advantages. 
A)  The entrepreneur can take advantage of the established facilities. 
B)  The entrepreneur can imitate the firm's existing production functions. 
C)  The entrepreneur can take advantage of the firm's brand name. 
D)  All of the above are advantages. 
E)  None of the above are advantages.

Question 4

Why do people tend to have such a hard time accepting an entrepreneur's business idea as legitimate? What should entrepreneurs do to convince people of their idea?

Accepted Answer

People tend to be uninformed on the new

Question 5

Writing goals as part of a comprehensive business plan can help an entrepreneur to be more successful.

Accepted Answer

A) True 
 B)False

Question 6

Self-efficacy refers to ones confidence in his or her own abilities.

Accepted Answer

A) True 
 B)False

Question 7

No strategies are powerful enough to manage the technical,market,and competitive uncertainty and information asymmetry that new ventures face.

Accepted Answer

A) True 
 B)False

Question 8

Beverly Stack,an independent agent for State Farm Insurance,held an annual bike rodeo in Edwardsville,IL,in which bike safety was taught to children. However,there are four other State Farm agents in this town who did not want to sacrifice their Saturday afternoon to help. Due to Beverly's success at the bike rodeo,twenty families switched to State Farm,but ten of those families went to the other four agents in town. Those four agents who received business due to Beverly's success are known as....

Accepted Answer

A)  hold-ups. 
B)  free Riders. 
C)  passive entrepreneurs. 
D)  second-hand helpers. 
E)  None of the Above. 
A)  hold-ups. 
B)  free Riders. 
C)  passive entrepreneurs. 
D)  second-hand helpers. 
E)  None of the Above.

Question 9

Which of the following does not relate to secrecy of an entrepreneur idea?

Accepted Answer

A)  Tacit Knowledge. 
B)  Causal Ambiguity. 
C)  Monopoly. 
D)  Trade Secret. 
E)  All of the Above. 
A)  Tacit Knowledge. 
B)  Causal Ambiguity. 
C)  Monopoly. 
D)  Trade Secret. 
E)  All of the Above.

Question 10

Which of the following is an entrepreneurial barrier to competition?

Accepted Answer

A)  Obtaining control of resources. 
B)  Obtaining a legal monopoly. 
C)  Establishing a Reputation. 
D)  Innovation. 
E)  All of the Above. 
A)  Obtaining control of resources. 
B)  Obtaining a legal monopoly. 
C)  Establishing a Reputation. 
D)  Innovation. 
E)  All of the Above.

Question 11

Which of the following is not a typical action for an entrepreneur to take?

Accepted Answer

A)  Start up small in hopes on one day being large. 
B)  Putting a patent on his or her technology before going public with the novel business idea. 
C)  Relying on established firms for capital and brand name awareness. 
D)  Bearing the uncertainty that exists in the marketplace. 
E)  Designing a product that is so unique and unlike the norms of society. 
A)  Start up small in hopes on one day being large. 
B)  Putting a patent on his or her technology before going public with the novel business idea. 
C)  Relying on established firms for capital and brand name awareness. 
D)  Bearing the uncertainty that exists in the marketplace. 
E)  Designing a product that is so unique and unlike the norms of society.

Question 12

Which of the following have been shown to be related to an entrepreneur's business being more successful?

Accepted Answer

A)  Self-efficacy. 
B)  Goal setting. 
C)  A government permit. 
D)  Choices a and b are correct. 
E)  All are correct (a, b, and c). 
A)  Self-efficacy. 
B)  Goal setting. 
C)  A government permit. 
D)  Choices a and b are correct. 
E)  All are correct (a, b, and c).

Question 13

An entrepreneur bought a franchise to operate a restaurant. The agreement says that the entrepreneur must pay the franchisor 5% of total sales per month. Now,the franchisor insists on selling another franchise in the same market area unless the entrepreneur increases the monthly payment to 7%. This is an example of

Accepted Answer

A)  free riding. 
B)  technical uncertainty. 
C)  gaining legitimacy. 
D)  hold-up. 
E)  patent. 
A)  free riding. 
B)  technical uncertainty. 
C)  gaining legitimacy. 
D)  hold-up. 
E)  patent.

A franchised restaurant is an example of a hierarchical mode of business.

A restaurant that grows its own vegetables is vertically integrated.

Which of the following is true about advantages for the entrepreneur when he or she forms an alliance or partnership with an established firm?

Why do people tend to have such a hard time accepting an entrepreneur's business idea as legitimate? What should entrepreneurs do to convince people of their idea?

Writing goals as part of a comprehensive business plan can help an entrepreneur to be more successful.

Self-efficacy refers to ones confidence in his or her own abilities.

No strategies are powerful enough to manage the technical,market,and competitive uncertainty and information asymmetry that new ventures face.

Which of the following does not relate to secrecy of an entrepreneur idea?

Which of the following is an entrepreneurial barrier to competition?

Which of the following is not a typical action for an entrepreneur to take?

Which of the following have been shown to be related to an entrepreneur's business being more successful?

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

Assembling the Team: Acquiring and Utilizing Essential Human Capital

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

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 10: Strategy: Planning For Competitive Advantage

A franchised restaurant is an example of a hierarchical mode of business.

A restaurant that grows its own vegetables is vertically integrated.

Which of the following is true about advantages for the entrepreneur when he or she forms an alliance or partnership with an established firm?

Why do people tend to have such a hard time accepting an entrepreneur's business idea as legitimate? What should entrepreneurs do to convince people of their idea?

Writing goals as part of a comprehensive business plan can help an entrepreneur to be more successful.

Self-efficacy refers to ones confidence in his or her own abilities.

No strategies are powerful enough to manage the technical,market,and competitive uncertainty and information asymmetry that new ventures face.

Which of the following does not relate to secrecy of an entrepreneur idea?

Which of the following is an entrepreneurial barrier to competition?

Which of the following is not a typical action for an entrepreneur to take?

Which of the following have been shown to be related to an entrepreneur's business being more successful?

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

Assembling the Team: Acquiring and Utilizing Essential Human Capital

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

Preparing For And Attaining Growth: Strategies For Building Lasting Success

Managing New Ventures For Growth

Exit Strategies For Entrepreneurs: The Concluding Act

Filters