Question 1

Give several examples of triggering events that give birth to a new organization.

Accepted Answer

@#LAT-DLM&Job dissatisfaction
@#LAT-DLM&Loss of jo

Question 2

One difference between having an idea vs.an opportunity is the ability to list potential customers by name.

Accepted Answer

A) True 
 B)False

Question 3

Entrepreneurship reduces the overall health of an economy by destroying jobs in traditional industries.

Accepted Answer

A) True 
 B)False

Question 4

For an entrepreneurial company, leasing is better than buying because:

Accepted Answer

A) Leasing can lead to more favorable terms 
B) Leasing preserves cash by spreading out payments 
C) Owning and maintaining property and equipment is rarely a company's specialty 
D) All of the above 
E) None of the above 
A) Leasing can lead to more favorable terms 
B) Leasing preserves cash by spreading out payments 
C) Owning and maintaining property and equipment is rarely a company's specialty 
D) All of the above 
E) None of the above

Question 5

When determining how to allocate scarce resources, an entrepreneur should:

Accepted Answer

A) Focus on the company's key success factors 
B) Spread resources around to gain experience 
C) Focus exclusively on marketing 
D) Focus exclusively on technology 
E) None of the above 
A) Focus on the company's key success factors 
B) Spread resources around to gain experience 
C) Focus exclusively on marketing 
D) Focus exclusively on technology 
E) None of the above

Question 6

One of the biggest misconceptions about an idea for a new business is that

Accepted Answer

A) It must be technology related 
B) It must be unique 
C) It must be patentable 
D) None of the above 
A) It must be technology related 
B) It must be unique 
C) It must be patentable 
D) None of the above

Question 7

Explain the rationale behind the statement, "A first class team with a second class idea is better than a second class team with a first class idea."

Accepted Answer

@#LAT-DLM&If you have identified an excellent oppo

Question 8

The 8 year survival rate for new businesses is:

Accepted Answer

A) 1% 
B) 12% 
C) 25% 
D) 50% 
E) 73% 
A) 1% 
B) 12% 
C) 25% 
D) 50% 
E) 73%

Question 9

Entrepreneurial companies should consider outsourcing responsibilities and functions that are not critical to the company's success.

Accepted Answer

A) True 
 B)False

Question 10

It is possible for a company to have a positive cash flow and be unprofitable.

Accepted Answer

A) True 
 B)False

Question 11

Only the most skilled entrepreneurs should attempt to build a business around social or cultural fads.

Accepted Answer

A) True 
 B)False

Question 12

What percentage of venture backed companies survive to the five year mark?

Accepted Answer

A) 12% 
B) 20% 
C) 50% 
D) 67% 
E) 80% 
A) 12% 
B) 20% 
C) 50% 
D) 67% 
E) 80%

Question 13

Low-tech businesses, such as convenience stores, are not typically considered part of entrepreneurship because of their lack of innovation and intellectual property.

Accepted Answer

A) True 
 B)False

Question 14

The vast majority of entrepreneurs start their companies with their own personal savings.

Accepted Answer

A) True 
 B)False

Question 15

Access to entrepreneurial role models can be a significant factor in determining whether or not someone will become an entrepreneur.

Accepted Answer

A) True 
 B)False

Question 16

Where do most entrepreneurs get the idea for their businesses?

Accepted Answer

A) Through brainstorming 
B) From mentors 
C) From exposure to an industry 
D) By reading entrepreneurship books 
E) From venture capitalists 
A) Through brainstorming 
B) From mentors 
C) From exposure to an industry 
D) By reading entrepreneurship books 
E) From venture capitalists

Question 17

Ross Perot, the former US Presidential Candidate, decided, as a young man, to pursue a life-long career in politics and never utilized his talent for entrepreneurship.

Accepted Answer

A) True 
 B)False

Question 18

What ratio best reflects the number of companies that begin with venture capital in hand?

Accepted Answer

A) 1 in 2 companies 
B) 1 in 20 companies 
C) 1 in 500 companies 
D) 1 in 2000 companies 
E) 1 in 10,000 companies 
A) 1 in 2 companies 
B) 1 in 20 companies 
C) 1 in 500 companies 
D) 1 in 2000 companies 
E) 1 in 10,000 companies

Question 19

A good example of entrepreneurial frugality is:

Accepted Answer

A) Providing cell phones for all employees 
B) Leasing more space than is immediately necessary 
C) Purchasing used office equipment and machinery 
D) Limiting employees to strict job responsibilities 
E) Renting top notch facilities 
A) Providing cell phones for all employees 
B) Leasing more space than is immediately necessary 
C) Purchasing used office equipment and machinery 
D) Limiting employees to strict job responsibilities 
E) Renting top notch facilities

Question 20

The most costly expense that seed-stage biotechnology companies face in their early years is the initial expenditure on manufacturing equipment.

Accepted Answer

A) True 
 B)False

Give several examples of triggering events that give birth to a new organization.

One difference between having an idea vs.an opportunity is the ability to list potential customers by name.

Entrepreneurship reduces the overall health of an economy by destroying jobs in traditional industries.

For an entrepreneurial company, leasing is better than buying because:

When determining how to allocate scarce resources, an entrepreneur should:

One of the biggest misconceptions about an idea for a new business is that

Explain the rationale behind the statement, "A first class team with a second class idea is better than a second class team with a first class idea."

The 8 year survival rate for new businesses is:

Entrepreneurial companies should consider outsourcing responsibilities and functions that are not critical to the company's success.

It is possible for a company to have a positive cash flow and be unprofitable.

Only the most skilled entrepreneurs should attempt to build a business around social or cultural fads.

What percentage of venture backed companies survive to the five year mark?

Low-tech businesses, such as convenience stores, are not typically considered part of entrepreneurship because of their lack of innovation and intellectual property.

The vast majority of entrepreneurs start their companies with their own personal savings.

Access to entrepreneurial role models can be a significant factor in determining whether or not someone will become an entrepreneur.

Where do most entrepreneurs get the idea for their businesses?

Ross Perot, the former US Presidential Candidate, decided, as a young man, to pursue a life-long career in politics and never utilized his talent for entrepreneurship.

What ratio best reflects the number of companies that begin with venture capital in hand?

A good example of entrepreneurial frugality is:

The most costly expense that seed-stage biotechnology companies face in their early years is the initial expenditure on manufacturing equipment.

The Power of Entrepreneurship

Opportunity Recognition, Shaping, and Reshaping

Understanding Your Business Model and Developing Your Strategy

Entrepreneurial Marketing

Building the Founding Team

The Business Planning Process

Building Your Pro Forma Financial Statements

Facing Entrepreneurial Ventures Worldwide

Raising Money for Starting and Growing Businesses

Debt and Other Forms of Financing

Legal and Tax Issues, Including Intellectual Property

Entrepreneurial Growth

Social Entrepreneurship: an Overview

Filters

Exam 2: The Entrepreneurial Process

Give several examples of triggering events that give birth to a new organization.

One difference between having an idea vs.an opportunity is the ability to list potential customers by name.

Entrepreneurship reduces the overall health of an economy by destroying jobs in traditional industries.

For an entrepreneurial company, leasing is better than buying because:

When determining how to allocate scarce resources, an entrepreneur should:

One of the biggest misconceptions about an idea for a new business is that

Explain the rationale behind the statement, "A first class team with a second class idea is better than a second class team with a first class idea."

The 8 year survival rate for new businesses is:

Entrepreneurial companies should consider outsourcing responsibilities and functions that are not critical to the company's success.

It is possible for a company to have a positive cash flow and be unprofitable.

Only the most skilled entrepreneurs should attempt to build a business around social or cultural fads.

What percentage of venture backed companies survive to the five year mark?

Low-tech businesses, such as convenience stores, are not typically considered part of entrepreneurship because of their lack of innovation and intellectual property.

The vast majority of entrepreneurs start their companies with their own personal savings.

Access to entrepreneurial role models can be a significant factor in determining whether or not someone will become an entrepreneur.

Where do most entrepreneurs get the idea for their businesses?

Ross Perot, the former US Presidential Candidate, decided, as a young man, to pursue a life-long career in politics and never utilized his talent for entrepreneurship.

What ratio best reflects the number of companies that begin with venture capital in hand?

A good example of entrepreneurial frugality is:

The most costly expense that seed-stage biotechnology companies face in their early years is the initial expenditure on manufacturing equipment.

The Power of Entrepreneurship

Opportunity Recognition, Shaping, and Reshaping

Understanding Your Business Model and Developing Your Strategy

Entrepreneurial Marketing

Building the Founding Team

The Business Planning Process

Building Your Pro Forma Financial Statements

Facing Entrepreneurial Ventures Worldwide

Raising Money for Starting and Growing Businesses

Debt and Other Forms of Financing

Legal and Tax Issues, Including Intellectual Property

Entrepreneurial Growth

Social Entrepreneurship: an Overview

Filters