Question 1

Which of the following demographic/economic trends has increased the opportunities for entrepreneurs?

Accepted Answer

A)  aging population 
B)  increase in wages 
C)  surplus of college graduates 
D)  steady interest rates 
A)  aging population 
B)  increase in wages 
C)  surplus of college graduates 
D)  steady interest rates A

Question 2

Discuss how an entrepreneur views job security.

Accepted Answer

A growing number of Canadian workers-both first-time job seekers and laid-off, long-term employees-are deciding to create their own job security by starting their own businesses. While running your own business doesn't guarantee job security, research has shown that most newly created jobs come from small businesses, with a significant share of those jobs coming from new companies.

Question 3

A large percentage of startups obtain seed capital through banks.

Accepted Answer

A) True 
 B)False  False

Question 4

A newly establish entrepreneur does NOT need to think about the impact of global market until it grow.

Accepted Answer

A) True 
 B)False

Question 5

3M encourages engineers to "bootleg," or borrow up to 15 per of their time at work on creative activities. What do you think are management motives for this strategy?

Accepted Answer

The reasons for the strategy i

Question 6

Although entrepreneurs can reap huge profits, job seekers would be better off looking to large corporations for employment opportunities.

Accepted Answer

A) True 
 B)False

Question 7

Entrepreneurs and small-business owners both have all of the following qualities EXCEPT

Accepted Answer

A)  desire to succeed. 
B)  creative energy. 
C)  drive toward a goal. 
D)  growth of their company. 
A)  desire to succeed. 
B)  creative energy. 
C)  drive toward a goal. 
D)  growth of their company.

Question 8

Meeting the needs of customers is central to ensuring venture success.

Accepted Answer

A) True 
 B)False

Question 9

While job security is one of the principal reasons to be an entrepreneur, owning one's business may still NOT guarantee success in today's environment.

Accepted Answer

A) True 
 B)False

Question 10

Owning a business, by definition, means that you are an entrepreneur.

Accepted Answer

A) True 
 B)False

Question 11

Being your own boss as an entrepreneur means freedom to take important decisions that affect the success of your business.

Accepted Answer

A) True 
 B)False

Question 12

Complete the following using the terms listed below.
-______ are business firms or groups of individuals who invest in new and growing firms.

Accepted Answer

A) lifestyle entrepreneur 
B) globalization 
C) angel investor 
D) enterprise zone 
E) debt financing
F)internal locus of control.
G)debt financing.
H)classic entrepreneur
I)social entrepreneur.
J)seed capital
K)venture capitalist
L)intrapreneurship
M)urban reserve
N)information technology 
A) lifestyle entrepreneur 
B) globalization 
C) angel investor 
D) enterprise zone 
E) debt financing
F)internal locus of control.
G)debt financing.
H)classic entrepreneur
I)social entrepreneur.
J)seed capital
K)venture capitalist
L)intrapreneurship
M)urban reserve
N)information technology

Question 13

Franz and Arlene had an idea for a different type of ice cream. They struggled to open their own small business, and later, to expand production and distribution. Their products are distributed nationwide and their sales continue to increase. Franz and Arlene are examples of ______.

Accepted Answer

A)  classic entrepreneurs 
B)  serial entrepreneurs 
C)  social entrepreneurs 
D)  change agents 
A)  classic entrepreneurs 
B)  serial entrepreneurs 
C)  social entrepreneurs 
D)  change agents

Question 14

Entrepreneurs are more likely to take risk with respect to business growth than most small scale business operators.

Accepted Answer

A) True 
 B)False

Question 15

______ has a long-standing and well-known record of encouraging intrapreneurship.

Accepted Answer

A)  IBM 
B)  3M 
C)  General Motors Co. 
D)  Microsoft Corporation 
A)  IBM 
B)  3M 
C)  General Motors Co. 
D)  Microsoft Corporation

Question 16

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

Accepted Answer

A)  hundreds of colleges and universities offer classes in entrepreneurship. 
B)  some colleges and universities sponsor business plan contests. 
C)  obtaining a college degree in entrepreneurship is essential before starting your own business. 
D)  some colleges and universities offer entrepreneurship courses outside the usual business curriculum. 
A)  hundreds of colleges and universities offer classes in entrepreneurship. 
B)  some colleges and universities sponsor business plan contests. 
C)  obtaining a college degree in entrepreneurship is essential before starting your own business. 
D)  some colleges and universities offer entrepreneurship courses outside the usual business curriculum.

Question 17

Complete the following using the terms listed below.
-A(n) ______ is an economic zone within a municipality-an area that the federal government has set aside as a First Nation reserve land.

Accepted Answer

A) lifestyle entrepreneur. 
B) globalization. 
C) angel investor 
D) enterprise zone 
E) debt financing.
F)internal locus of control.
G)debt financing
H)classic entrepreneur
I)social entrepreneur
J)seed capital
K)venture capitalist
L)intrapreneurship
M)urban reserve
N)information technology 
A) lifestyle entrepreneur. 
B) globalization. 
C) angel investor 
D) enterprise zone 
E) debt financing.
F)internal locus of control.
G)debt financing
H)classic entrepreneur
I)social entrepreneur
J)seed capital
K)venture capitalist
L)intrapreneurship
M)urban reserve
N)information technology

Question 18

Social entrepreneurs are driven by a passion to solve social problem by adopting business principles rather than profit motive.

Accepted Answer

A) True 
 B)False

Question 19

Logan 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 Logan's entrepreneurial philosophy?

Accepted Answer

A)  tolerance for failure 
B)  internal locus of control 
C)  need to achieve 
D)  tolerance for ambiguity 
A)  tolerance for failure 
B)  internal locus of control 
C)  need to achieve 
D)  tolerance for ambiguity

Question 20

Mention three types of capital available to a new entrepreneur and discuss the advantages and disadvantages of using any two of them?

Accepted Answer

The various types of capital are: debt f

Which of the following demographic/economic trends has increased the opportunities for entrepreneurs?

Discuss how an entrepreneur views job security.

A large percentage of startups obtain seed capital through banks.

A newly establish entrepreneur does NOT need to think about the impact of global market until it grow.

3M encourages engineers to "bootleg," or borrow up to 15 per of their time at work on creative activities. What do you think are management motives for this strategy?

Although entrepreneurs can reap huge profits, job seekers would be better off looking to large corporations for employment opportunities.

Entrepreneurs and small-business owners both have all of the following qualities EXCEPT

Meeting the needs of customers is central to ensuring venture success.

While job security is one of the principal reasons to be an entrepreneur, owning one's business may still NOT guarantee success in today's environment.

Owning a business, by definition, means that you are an entrepreneur.

Being your own boss as an entrepreneur means freedom to take important decisions that affect the success of your business.

Complete the following using the terms listed below. -______ are business firms or groups of individuals who invest in new and growing firms.

Franz and Arlene had an idea for a different type of ice cream. They struggled to open their own small business, and later, to expand production and distribution. Their products are distributed nationwide and their sales continue to increase. Franz and Arlene are examples of ______.

Entrepreneurs are more likely to take risk with respect to business growth than most small scale business operators.

______ has a long-standing and well-known record of encouraging intrapreneurship.

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

Complete the following using the terms listed below. -A(n) ______ is an economic zone within a municipality-an area that the federal government has set aside as a First Nation reserve land.

Social entrepreneurs are driven by a passion to solve social problem by adopting business principles rather than profit motive.

Logan 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 Logan's entrepreneurial philosophy?

Mention three types of capital available to a new entrepreneur and discuss the advantages and disadvantages of using any two of them?

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 Labour 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

Which of the following demographic/economic trends has increased the opportunities for entrepreneurs?

Discuss how an entrepreneur views job security.

A large percentage of startups obtain seed capital through banks.

A newly establish entrepreneur does NOT need to think about the impact of global market until it grow.

3M encourages engineers to "bootleg," or borrow up to 15 per of their time at work on creative activities. What do you think are management motives for this strategy?

Although entrepreneurs can reap huge profits, job seekers would be better off looking to large corporations for employment opportunities.

Entrepreneurs and small-business owners both have all of the following qualities EXCEPT

Meeting the needs of customers is central to ensuring venture success.

While job security is one of the principal reasons to be an entrepreneur, owning one's business may still NOT guarantee success in today's environment.

Owning a business, by definition, means that you are an entrepreneur.

Being your own boss as an entrepreneur means freedom to take important decisions that affect the success of your business.

Complete the following using the terms listed below. -______ are business firms or groups of individuals who invest in new and growing firms.

Franz and Arlene had an idea for a different type of ice cream. They struggled to open their own small business, and later, to expand production and distribution. Their products are distributed nationwide and their sales continue to increase. Franz and Arlene are examples of ______.

Entrepreneurs are more likely to take risk with respect to business growth than most small scale business operators.

______ has a long-standing and well-known record of encouraging intrapreneurship.

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

Complete the following using the terms listed below. -A(n) ______ is an economic zone within a municipality-an area that the federal government has set aside as a First Nation reserve land.

Social entrepreneurs are driven by a passion to solve social problem by adopting business principles rather than profit motive.

Logan 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 Logan's entrepreneurial philosophy?

Mention three types of capital available to a new entrepreneur and discuss the advantages and disadvantages of using any two of them?

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 Labour 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