Exam 6: Starting Your Own Business: the Entrepreneurship Alternative

MATCHING Complete the following using the terms listed. -_____ helps entrepreneurs work quickly and efficiently, provide attentive customer service, increase sales.

Which of the following is one of the most important considerations in selecting a business idea?

Stefan wants to start a new business, but his bank will not lend him the money he needs. Stefan saw an advertisement sponsored by a business organization that provides financing for early-stage, high-potential growth companies. The organization sponsoring the advertisement would be considered a _____.

Michelle works for a large bank that recently merged with another financial institution. Word of layoffs has been discussed. Michelle is most likely to become an entrepreneur in order to _____.

MATCHING Complete the following using the terms listed. -A(n) _____ project is initiated by an employee who conceives an idea, convinces top management of a company of its potential, and then recruits human and other resources from within the company to turn that idea into a commercial project.

Equity financing may benefit an entrepreneur who possesses good ideas and skills, but has little or no money.

All of the following are major advantages of buying an existing business over starting a new business EXCEPT:

Claude is an entrepreneur who takes personal responsibility for the success or failure of his actions rather than believing in luck or fate. Which characteristic best describes Claude's entrepreneurial philosophy?

Internal locus of control involves the personal belief that one controls his or her own destiny.

Studies confirm that the personality traits common to entrepreneurs are very similar to those required for managerial success.

After starting a web design company while still in college, Ricardo sold the company after graduation. He then opened a computer repair shop; and most recently, he has started a marketing firm that specializes in social media. Ricardo is an example of a(n):

Countries whose economies are driven by innovation, like Italy and Japan, have lower established business ownership rates.

MATCHING Complete the following using the terms listed. -A(n) _____ is a rural area or an area that has experienced an unemployment rate of at least 150 percent of the national average.

MATCHING Complete the following using the terms listed. -A(n) _____ is an individual who invests money directly in new ventures in exchange for equity.

MATCHING Complete the following using the terms listed. -A(n)_____ recognizes a societal problem and uses business principles to develop innovative solutions.

Discuss lifestyle entrepreneurs.

MATCHING Complete the following using the terms listed. -_____ is the initial funding used to launch a company.

A(n) _____ is another form of intrapreneurship initiated by an employee who conceives an idea, convinces top management of its potential, and then recruits human and other resources from within the company to turn that idea into a commercial project.

_____ are specific geographic areas designated for economic revitalization.

Victoria is an employee at Pegasys Inc., a consulting firm. She uses the resources of the firm to expand and diversify into related fields. Victoria is most likely to be classified as a(n) _____.