Question 1

A(n) _____ recognizes a viable idea for a business product or service and carries it out.

Accepted Answer

entrepreneur

Question 2

Minorities show a high rate of entrepreneurship in the United States, owning 5.8 million firms in 2007 that generated $1 trillion in revenues.

Accepted Answer

A) True 
 B)False  True

Question 3

Melissa is a very good middle manager. However, she has long wanted to open her own business. Which of Melissa's characteristics is not consistent with entrepreneurship?

Accepted Answer

A)  Melissa has high self-confidence. 
B)  Melissa tends to put things off till later. 
C)  She is untroubled by uncertainty. 
D)  She has a high energy level. 
E)  She has high need to achieve. 
A)  Melissa has high self-confidence. 
B)  Melissa tends to put things off till later. 
C)  She is untroubled by uncertainty. 
D)  She has a high energy level. 
E)  She has high need to achieve. B

Question 4

Which of the following is the type of business that most entrepreneurs start?

Accepted Answer

A)  Retail 
B)  Manufacturing 
C)  Service 
D)  All of these 
E)  Retail and manufacturing only 
A)  Retail 
B)  Manufacturing 
C)  Service 
D)  All of these 
E)  Retail and manufacturing only

Question 5

All of the following are common reasons why small business ventures fail except:

Accepted Answer

A)  sloppy accounting. 
B)  naive hiring. 
C)  lack of controls. 
D)  long-term focus. 
E)  unrealistic focus. 
A)  sloppy accounting. 
B)  naive hiring. 
C)  lack of controls. 
D)  long-term focus. 
E)  unrealistic focus.

Question 6

_____ entrepreneurs are committed to both good business and changing the world for the better.

Accepted Answer

The answer of _____ entrepreneurs are committed to both good...

Question 7

A(n) _____ is someone who recognizes a viable idea for a business product or service and carries it out.

Accepted Answer

A)  intrapreneur 
B)  entrepreneur 
C)  manager 
D)  leader 
E)  introvert 
A)  intrapreneur 
B)  entrepreneur 
C)  manager 
D)  leader 
E)  introvert

Question 8

Which of the following is NOT an appropriate legal structure for an entrepreneurial company?

Accepted Answer

A)  Proprietorship 
B)  Corporation 
C)  Partnership 
D)  Trade alliance 
E)  All of these are appropriate legal structures for an entrepreneurial company. 
A)  Proprietorship 
B)  Corporation 
C)  Partnership 
D)  Trade alliance 
E)  All of these are appropriate legal structures for an entrepreneurial company.

Question 9

Vaughn Hager started his one-man consulting business under the name Hager Associates. The legal structure for the company can best be described as a(n):

Accepted Answer

A)  proprietorship. 
B)  partnership. 
C)  trade alliance. 
D)  corporation. 
E)  one man operation. 
A)  proprietorship. 
B)  partnership. 
C)  trade alliance. 
D)  corporation. 
E)  one man operation.

Question 10

_____ refers to borrowing money that has to be repaid in order to start a business.

Accepted Answer

A)  Venture capital 
B)  Debt financing 
C)  Equity financing 
D)  Franchising 
E)  Licensing 
A)  Venture capital 
B)  Debt financing 
C)  Equity financing 
D)  Franchising 
E)  Licensing

Question 11

_____ combines creativity, business smarts, passion, and hard work of the traditional entrepreneur with a mission to change the world for better.

Accepted Answer

A)  Contemporary entrepreneurship 
B)  Traditional entrepreneurship 
C)  Modern-day entrepreneurship 
D)  Social entrepreneurship 
E)  Conventional entrepreneurship 
A)  Contemporary entrepreneurship 
B)  Traditional entrepreneurship 
C)  Modern-day entrepreneurship 
D)  Social entrepreneurship 
E)  Conventional entrepreneurship

Question 12

Particularly in a turbulent environment, the three most important traits of successful entrepreneurs are realism, flexibility, and passion.

Accepted Answer

A) True 
 B)False

Question 13

What percentage of women entrepreneurs have employees?

Accepted Answer

A)  Five 
B)  Ten 
C)  Twenty 
D)  Fifty 
E)  Eighty 
A)  Five 
B)  Ten 
C)  Twenty 
D)  Fifty 
E)  Eighty

Question 14

A venture capital firm is a group of companies or individuals that invests money in new or expanding businesses for ownership and potential profits.

Accepted Answer

A) True 
 B)False

Question 15

_____ firms are groups of companies or individuals that invest money in exchange for a stake in the company.

Accepted Answer

The answer of _____ firms are groups of companies or...

Question 16

The failure rate for high-tech business is lower than the failure rate for conventional businesses.

Accepted Answer

A) True 
 B)False

Question 17

China is the most entrepreneurial country, with 24 percent of individuals age 18 to 64 starting a new business.

Accepted Answer

A) True 
 B)False

Question 18

Since a corporation is a legal structure reserved for large firms, small businesses have two basic choices for legal structure of their company: proprietorship and partnership.

Accepted Answer

A) True 
 B)False

Question 19

_____ refers to an arrangement by which the owner of a product or service allows others to purchase the right to distribute the product or service with help from the owner.

Accepted Answer

A)  Franchising 
B)  Business incubation 
C)  Spinning-off 
D)  Globalization 
E)  Right offerings 
A)  Franchising 
B)  Business incubation 
C)  Spinning-off 
D)  Globalization 
E)  Right offerings

Question 20

During turbulent times, small business formation is the primary process by which an economy recreates and reinvents itself.

Accepted Answer

A) True 
 B)False

A(n) _____ recognizes a viable idea for a business product or service and carries it out.

Minorities show a high rate of entrepreneurship in the United States, owning 5.8 million firms in 2007 that generated $1 trillion in revenues.

Melissa is a very good middle manager. However, she has long wanted to open her own business. Which of Melissa's characteristics is not consistent with entrepreneurship?

Which of the following is the type of business that most entrepreneurs start?

All of the following are common reasons why small business ventures fail except:

_____ entrepreneurs are committed to both good business and changing the world for the better.

A(n) _____ is someone who recognizes a viable idea for a business product or service and carries it out.

Which of the following is NOT an appropriate legal structure for an entrepreneurial company?

Vaughn Hager started his one-man consulting business under the name Hager Associates. The legal structure for the company can best be described as a(n):

_____ refers to borrowing money that has to be repaid in order to start a business.

_____ combines creativity, business smarts, passion, and hard work of the traditional entrepreneur with a mission to change the world for better.

Particularly in a turbulent environment, the three most important traits of successful entrepreneurs are realism, flexibility, and passion.

What percentage of women entrepreneurs have employees?

A venture capital firm is a group of companies or individuals that invests money in new or expanding businesses for ownership and potential profits.

_____ firms are groups of companies or individuals that invest money in exchange for a stake in the company.

The failure rate for high-tech business is lower than the failure rate for conventional businesses.

China is the most entrepreneurial country, with 24 percent of individuals age 18 to 64 starting a new business.

Since a corporation is a legal structure reserved for large firms, small businesses have two basic choices for legal structure of their company: proprietorship and partnership.

_____ refers to an arrangement by which the owner of a product or service allows others to purchase the right to distribute the product or service with help from the owner.

During turbulent times, small business formation is the primary process by which an economy recreates and reinvents itself.

The World of Innovative Management

The Evolution of Management Thinking

The Environment and Corporate Culture

Managing in a Global Environment

Managing Ethics and Social Responsibility

Managerial Planning and Goal Setting

Strategy Formulation and Execution

Managerial Decision Making

Designing Organization Structure

Managing Change and Innovation

Managing Human Resource

Managing Diversity

Understanding Individual Behavior

Leadership

Motivating Employees

Managing Communication

Leading Teams

Managing Quality and Performance

Filters

Exam 6: Managing Start Ups and New Ventures

A(n) _____ recognizes a viable idea for a business product or service and carries it out.

Minorities show a high rate of entrepreneurship in the United States, owning 5.8 million firms in 2007 that generated $1 trillion in revenues.

Melissa is a very good middle manager. However, she has long wanted to open her own business. Which of Melissa's characteristics is not consistent with entrepreneurship?

Which of the following is the type of business that most entrepreneurs start?

All of the following are common reasons why small business ventures fail except:

_____ entrepreneurs are committed to both good business and changing the world for the better.

A(n) _____ is someone who recognizes a viable idea for a business product or service and carries it out.

Which of the following is NOT an appropriate legal structure for an entrepreneurial company?

Vaughn Hager started his one-man consulting business under the name Hager Associates. The legal structure for the company can best be described as a(n):

_____ refers to borrowing money that has to be repaid in order to start a business.

_____ combines creativity, business smarts, passion, and hard work of the traditional entrepreneur with a mission to change the world for better.

Particularly in a turbulent environment, the three most important traits of successful entrepreneurs are realism, flexibility, and passion.

What percentage of women entrepreneurs have employees?

A venture capital firm is a group of companies or individuals that invests money in new or expanding businesses for ownership and potential profits.

_____ firms are groups of companies or individuals that invest money in exchange for a stake in the company.

The failure rate for high-tech business is lower than the failure rate for conventional businesses.

China is the most entrepreneurial country, with 24 percent of individuals age 18 to 64 starting a new business.

Since a corporation is a legal structure reserved for large firms, small businesses have two basic choices for legal structure of their company: proprietorship and partnership.

_____ refers to an arrangement by which the owner of a product or service allows others to purchase the right to distribute the product or service with help from the owner.

During turbulent times, small business formation is the primary process by which an economy recreates and reinvents itself.

The World of Innovative Management

The Evolution of Management Thinking

The Environment and Corporate Culture

Managing in a Global Environment

Managing Ethics and Social Responsibility

Managerial Planning and Goal Setting

Strategy Formulation and Execution

Managerial Decision Making

Designing Organization Structure

Managing Change and Innovation

Managing Human Resource

Managing Diversity

Understanding Individual Behavior

Leadership

Motivating Employees

Managing Communication

Leading Teams

Managing Quality and Performance

Filters