Question 1

Many U.S. universities offer programs in entrepreneurship.

Accepted Answer

A) True 
 B)False

Question 2

Truly successful entrepreneurs take responsibility for their mistakes.

Accepted Answer

A) True 
 B)False

Question 3

Elon Musk, founder of PayPal, and CEO of Tesla Motors, Solar City, and SpaceX, is a serial entrepreneur.

Accepted Answer

A) True 
 B)False

Question 4

List the eight major characteristics of an entrepreneur.

Accepted Answer

The eight major characteristics of an en

Question 5

Entrepreneurs take necessary risks to set up and operate a business.

Accepted Answer

A) True 
 B)False

Question 6

A lifestyle entrepreneur is a person who starts a business to gain flexibility in work hours and control over his or her life.

Accepted Answer

A) True 
 B)False

Question 7

The aging of the U.S. population has made it more difficult for entrepreneurs to find opportunities.

Accepted Answer

A) True 
 B)False

Question 8

List the four factors that have contributed to the expansion in entrepreneurship.

Accepted Answer

The four factors are (1) globa

Question 9

_____ are business organizations or groups of private individuals who invest in early-stage, high-potential growth companies.

Accepted Answer

A)  Angel investors 
B)  Share brokers 
C)  Intrapreneurs 
D)  Venture capitalists 
A)  Angel investors 
B)  Share brokers 
C)  Intrapreneurs 
D)  Venture capitalists

Question 10

Entrepreneurs enjoy guaranteed job security because no one can fire them.

Accepted Answer

A) True 
 B)False

Question 11

Entrepreneurship is comparable to gambling.

Accepted Answer

A) True 
 B)False

Question 12

Overseas, workers have yet to discover the benefits of entrepreneurship compared to employment by big firms.

Accepted Answer

A) True 
 B)False

Question 13

Entrepreneurs possess all of the following traits EXCEPT _____.

Accepted Answer

A)  tolerance for ambiguity 
B)  creativity 
C)  low self-confidence 
D)  vision 
A)  tolerance for ambiguity 
B)  creativity 
C)  low self-confidence 
D)  vision

Question 14

Describe how social networking has transformed the business environment for entrepreneurs.

Accepted Answer

The explosion in information technology

Question 15

Studies indicate that most entrepreneurs spend _____ on their new business.

Accepted Answer

A)  less than 30 hours a week 
B)  about 40 hours a week 
C)  at least 70 hours a week 
D)  weekends only 
A)  less than 30 hours a week 
B)  about 40 hours a week 
C)  at least 70 hours a week 
D)  weekends only

Question 16

Deena is a successful entrepreneur. She stays close to her customers and is constantly looking for effective strategies. She is also willing to make adjustments when necessary. Deena is demonstrating _____.

Accepted Answer

A)  internal locus of control 
B)  creativity 
C)  vision 
D)  tolerance for ambiguity 
A)  internal locus of control 
B)  creativity 
C)  vision 
D)  tolerance for ambiguity

Question 17

Concerning education and entrepreneurs, all of the following statements are correct EXCEPT:

Accepted Answer

A)  today, many U.S. universities offer full-fledged majors in entrepreneurship. 
B)  a number of schools offer opportunities to intern with a start-up. 
C)  one has to major in business to become an entrepreneur. 
D)  some colleges and universities offer entrepreneurship courses outside the usual business curriculum. 
A)  today, many U.S. universities offer full-fledged majors in entrepreneurship. 
B)  a number of schools offer opportunities to intern with a start-up. 
C)  one has to major in business to become an entrepreneur. 
D)  some colleges and universities offer entrepreneurship courses outside the usual business curriculum.

Question 18

Explain how CEOs like George Buckley believe that intrapreneurship pays off despite the extra effort required.

Accepted Answer

3M is a firm that has long been known fo

Question 19

In the past, most entrepreneurs started their ventures without creating formal business plans.

Accepted Answer

A) True 
 B)False

Question 20

An entrepreneur:

Accepted Answer

A)  is a risk taker in the private enterprise system. 
B)  is a gambler in the private enterprise system. 
C)  does not tolerate ambiguity. 
D)  does not tolerate failures. 
A)  is a risk taker in the private enterprise system. 
B)  is a gambler in the private enterprise system. 
C)  does not tolerate ambiguity. 
D)  does not tolerate failures.

Many U.S. universities offer programs in entrepreneurship.

Truly successful entrepreneurs take responsibility for their mistakes.

Elon Musk, founder of PayPal, and CEO of Tesla Motors, Solar City, and SpaceX, is a serial entrepreneur.

List the eight major characteristics of an entrepreneur.

Entrepreneurs take necessary risks to set up and operate a business.

A lifestyle entrepreneur is a person who starts a business to gain flexibility in work hours and control over his or her life.

The aging of the U.S. population has made it more difficult for entrepreneurs to find opportunities.

List the four factors that have contributed to the expansion in entrepreneurship.

_____ are business organizations or groups of private individuals who invest in early-stage, high-potential growth companies.

Entrepreneurs enjoy guaranteed job security because no one can fire them.

Entrepreneurship is comparable to gambling.

Overseas, workers have yet to discover the benefits of entrepreneurship compared to employment by big firms.

Entrepreneurs possess all of the following traits EXCEPT _____.

Describe how social networking has transformed the business environment for entrepreneurs.

Studies indicate that most entrepreneurs spend _____ on their new business.

Deena is a successful entrepreneur. She stays close to her customers and is constantly looking for effective strategies. She is also willing to make adjustments when necessary. Deena is demonstrating _____.

Concerning education and entrepreneurs, all of the following statements are correct EXCEPT:

Explain how CEOs like George Buckley believe that intrapreneurship pays off despite the extra effort required.

In the past, most entrepreneurs started their ventures without creating formal business plans.

An entrepreneur:

The Changing Face of Business

Business Ethics and Social Responsibility

Economic Challenges Facing Contemporary Business

Competing in World Markets

Forms of Business Ownership and Organization

Management, Leadership, and the Internal Organization

Human Resource Management: From Recruitment to Labor Relations

Top Performance Through Empowerment, Teamwork, and Communication

Production and Operations Management

Customer-Driven Marketing

Product and Distribution Strategies

Promotion and Pricing Strategies

Using Technology to Manage Information

Understanding Accounting and Financial Statements

The Financial System

Financial Management

Filters

Exam 6: Starting Your Own Business: the Entrepreneurship Alternative

Many U.S. universities offer programs in entrepreneurship.

Truly successful entrepreneurs take responsibility for their mistakes.

Elon Musk, founder of PayPal, and CEO of Tesla Motors, Solar City, and SpaceX, is a serial entrepreneur.

List the eight major characteristics of an entrepreneur.

Entrepreneurs take necessary risks to set up and operate a business.

A lifestyle entrepreneur is a person who starts a business to gain flexibility in work hours and control over his or her life.

The aging of the U.S. population has made it more difficult for entrepreneurs to find opportunities.

List the four factors that have contributed to the expansion in entrepreneurship.

_____ are business organizations or groups of private individuals who invest in early-stage, high-potential growth companies.

Entrepreneurs enjoy guaranteed job security because no one can fire them.

Entrepreneurship is comparable to gambling.

Overseas, workers have yet to discover the benefits of entrepreneurship compared to employment by big firms.

Entrepreneurs possess all of the following traits EXCEPT _____.

Describe how social networking has transformed the business environment for entrepreneurs.

Studies indicate that most entrepreneurs spend _____ on their new business.

Deena is a successful entrepreneur. She stays close to her customers and is constantly looking for effective strategies. She is also willing to make adjustments when necessary. Deena is demonstrating _____.

Concerning education and entrepreneurs, all of the following statements are correct EXCEPT:

Explain how CEOs like George Buckley believe that intrapreneurship pays off despite the extra effort required.

In the past, most entrepreneurs started their ventures without creating formal business plans.

An entrepreneur:

The Changing Face of Business

Business Ethics and Social Responsibility

Economic Challenges Facing Contemporary Business

Competing in World Markets

Forms of Business Ownership and Organization

Management, Leadership, and the Internal Organization

Human Resource Management: From Recruitment to Labor Relations

Top Performance Through Empowerment, Teamwork, and Communication

Production and Operations Management

Customer-Driven Marketing

Product and Distribution Strategies

Promotion and Pricing Strategies

Using Technology to Manage Information

Understanding Accounting and Financial Statements

The Financial System

Financial Management

Filters