Question 1

Which of the following are key questions to ask when screening an idea?

Accepted Answer

A)  Is it proprietary? 
B)  Can it easily make money? 
C)  What are its points of discussion? 
D)  All of the above are correct. 
A)  Is it proprietary? 
B)  Can it easily make money? 
C)  What are its points of discussion? 
D)  All of the above are correct.

Question 2

A new venture must go through _____ phases.

Accepted Answer

A)  five 
B)  two 
C)  three 
D)  seven 
A)  five 
B)  two 
C)  three 
D)  seven

Question 3

The results of a profile analysis enable the entrepreneur to judge

Accepted Answer

A)  himself or herself. 
B)  the competition. 
C)  the potential of the business. 
D)  venture capital opportunities. 
A)  himself or herself. 
B)  the competition. 
C)  the potential of the business. 
D)  venture capital opportunities.

Question 4

Most entrepreneurs are well schooled in the technology associated with their ventures.

Accepted Answer

A) True 
 B)False

Question 5

"Intensity of competition" changes the dominance of problem areas.

Accepted Answer

A) True 
 B)False

Question 6

List and describe three pitfalls in selecting a new venture.

Accepted Answer

The first pitfall in selecting a new ven

Question 7

What is a critical consideration when assessing customer availability?

Accepted Answer

A)  amount of products sold 
B)  length of time needed to determine who the customers are and what their buying habits are 
C)  the exact profitability of the venture 
D)  all of the above 
A)  amount of products sold 
B)  length of time needed to determine who the customers are and what their buying habits are 
C)  the exact profitability of the venture 
D)  all of the above

Question 8

A common human resource problem is

Accepted Answer

A)  poor relationships with parent companies and venture capitalists. 
B)  incompetent support professionals. 
C)  inflated owner ego. 
D)  incompetent workforce. 
A)  poor relationships with parent companies and venture capitalists. 
B)  incompetent support professionals. 
C)  inflated owner ego. 
D)  incompetent workforce.

Question 9

Venture classifications include which of the following types of venture?

Accepted Answer

A)  hobby ventures 
B)  smaller copycat ventures 
C)  high-growth ventures 
D)  survival ventures 
A)  hobby ventures 
B)  smaller copycat ventures 
C)  high-growth ventures 
D)  survival ventures

Question 10

Obtaining external financing is considered one of the major types of problems for a new venture during its first year.

Accepted Answer

A) True 
 B)False

Question 11

In a lifestyle venture, independence, autonomy, and control are the primary driving forces.

Accepted Answer

A) True 
 B)False

Question 12

Rapid technological advances in many industries cause a concern for in new venture development.

Accepted Answer

A)  faulty product performance 
B)  rapid product obsolescence 
C)  inadequate awareness of competitive pressures 
D)  undercapitalization 
A)  faulty product performance 
B)  rapid product obsolescence 
C)  inadequate awareness of competitive pressures 
D)  undercapitalization

Question 13

There are five specific phases that a new venture goes through.

Accepted Answer

A) True 
 B)False

Question 14

Only a small percentage of new ventures succeed.

Accepted Answer

A) True 
 B)False

Question 15

Many entrepreneurs lack _____ for their new venture.

Accepted Answer

A)  innovation 
B)  intelligence 
C)  objectivity 
D)  both a and b 
A)  innovation 
B)  intelligence 
C)  objectivity 
D)  both a and b

Question 16

Feasibility analyses include technical, market, financial, organizational, and competitive analyses.

Accepted Answer

A) True 
 B)False

Question 17

Financial considerations play a major role in

Accepted Answer

A)  lifestyle ventures. 
B)  smaller profitable ventures. 
C)  high-growth ventures. 
D)  corporate debentures. 
A)  lifestyle ventures. 
B)  smaller profitable ventures. 
C)  high-growth ventures. 
D)  corporate debentures.

Question 18

An approach developed as a criteria selection list from which entrepreneurs can gain insights into the viability of their venture is the

Accepted Answer

A)  feasibility criteria approach. 
B)  time-essence of a venture approach. 
C)  marketability feasibility approach. 
D)  comprehensive feasibility approach. 
A)  feasibility criteria approach. 
B)  time-essence of a venture approach. 
C)  marketability feasibility approach. 
D)  comprehensive feasibility approach.

Question 19

A new venture should be

Accepted Answer

A)  cheap. 
B)  unique. 
C)  easy to copy. 
D)  inferior to its competitors. 
A)  cheap. 
B)  unique. 
C)  easy to copy. 
D)  inferior to its competitors.

Question 20

In shaping the ultimate success or failure of a new venture, which of the following statements is applicable?

Accepted Answer

A)  A single strategic variable is usually responsible. 
B)  A single strategic variable is seldom responsible. 
C)  A single strategic variable that frequently changes is responsible. 
D)  A single strategic variable that influences the entire outcome is responsible. 
A)  A single strategic variable is usually responsible. 
B)  A single strategic variable is seldom responsible. 
C)  A single strategic variable that frequently changes is responsible. 
D)  A single strategic variable that influences the entire outcome is responsible.

Which of the following are key questions to ask when screening an idea?

A new venture must go through _____ phases.

The results of a profile analysis enable the entrepreneur to judge

Most entrepreneurs are well schooled in the technology associated with their ventures.

"Intensity of competition" changes the dominance of problem areas.

List and describe three pitfalls in selecting a new venture.

What is a critical consideration when assessing customer availability?

A common human resource problem is

Venture classifications include which of the following types of venture?

Obtaining external financing is considered one of the major types of problems for a new venture during its first year.

In a lifestyle venture, independence, autonomy, and control are the primary driving forces.

Rapid technological advances in many industries cause a concern for in new venture development.

There are five specific phases that a new venture goes through.

Only a small percentage of new ventures succeed.

Many entrepreneurs lack _____ for their new venture.

Feasibility analyses include technical, market, financial, organizational, and competitive analyses.

Financial considerations play a major role in

An approach developed as a criteria selection list from which entrepreneurs can gain insights into the viability of their venture is the

A new venture should be

In shaping the ultimate success or failure of a new venture, which of the following statements is applicable?

Entrepreneurship: Evolutionary Development-Revolutionary Impact

The Entrepreneurial Mind-Set in Individuals: Cognition and Ethics

The Entrepreneurial Mind-Set in Organizations: Corporate Entrepreneurship

Social Entrepreneurship and the Global Environment for Entrepreneurship

Innovation: The Creative Pursuit of Ideas

Pathways to Entrepreneurial Ventures

Sources of Capital for Entrepreneurs

Legal Challenges of Entrepreneurial Ventures

Marketing Challenges for Entrepreneurial Ventures

Financial Preparation for Entrepreneurial Ventures

Developing an Effective Business Plan

Strategic Entrepreneurial Growth

Valuation of Entrepreneurial Ventures

Harvesting the Entrepreneurial Venture

Filters

Exam 6: Assessment of Entrepreneurial Opportunities

Which of the following are key questions to ask when screening an idea?

A new venture must go through _____ phases.

The results of a profile analysis enable the entrepreneur to judge

Most entrepreneurs are well schooled in the technology associated with their ventures.

"Intensity of competition" changes the dominance of problem areas.

List and describe three pitfalls in selecting a new venture.

What is a critical consideration when assessing customer availability?

A common human resource problem is

Venture classifications include which of the following types of venture?

Obtaining external financing is considered one of the major types of problems for a new venture during its first year.

In a lifestyle venture, independence, autonomy, and control are the primary driving forces.

Rapid technological advances in many industries cause a concern for in new venture development.

There are five specific phases that a new venture goes through.

Only a small percentage of new ventures succeed.

Many entrepreneurs lack _____ for their new venture.

Feasibility analyses include technical, market, financial, organizational, and competitive analyses.

Financial considerations play a major role in

An approach developed as a criteria selection list from which entrepreneurs can gain insights into the viability of their venture is the

A new venture should be

In shaping the ultimate success or failure of a new venture, which of the following statements is applicable?

Entrepreneurship: Evolutionary Development-Revolutionary Impact

The Entrepreneurial Mind-Set in Individuals: Cognition and Ethics

The Entrepreneurial Mind-Set in Organizations: Corporate Entrepreneurship

Social Entrepreneurship and the Global Environment for Entrepreneurship

Innovation: The Creative Pursuit of Ideas

Pathways to Entrepreneurial Ventures

Sources of Capital for Entrepreneurs

Legal Challenges of Entrepreneurial Ventures

Marketing Challenges for Entrepreneurial Ventures

Financial Preparation for Entrepreneurial Ventures

Developing an Effective Business Plan

Strategic Entrepreneurial Growth

Valuation of Entrepreneurial Ventures

Harvesting the Entrepreneurial Venture

Filters