Question 1

Given the opportunity to choose between capital from angel investors and venture capitalists, which one will you opt for and why?

Accepted Answer

Angel investors invest capital in exchan

Question 2

Entrepreneurs are managers, and managers are entrepreneurs.

Accepted Answer

A) True 
 B)False

Question 3

Complete the following using the terms listed below.
-A ______ is a specific geographic area set aside for economic renewal.

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 4

Entrepreneurs tolerate the uncertainties associated with starting a new business.

Accepted Answer

A) True 
 B)False

Question 5

Compare and contrast the difference between the three categories of entrepreneurs?

Accepted Answer

The three categories of entrepreneurs ar

Question 6

Which of the following statements regarding globalization and entrepreneurship is correct?

Accepted Answer

A)  Most entrepreneurs are from highly developed countries. 
B)  Worldwide, approximately 9 percent of adults are starting or managing a new business. 
C)  The United States leads in the percentage of adults engaged in entrepreneurship. 
D)  Entrepreneurship is least common in Latin America and Asia. 
A)  Most entrepreneurs are from highly developed countries. 
B)  Worldwide, approximately 9 percent of adults are starting or managing a new business. 
C)  The United States leads in the percentage of adults engaged in entrepreneurship. 
D)  Entrepreneurship is least common in Latin America and Asia.

Question 7

Paterno routinely bids on contracts even though most of the other bidders are extremely large firms. Paterno believes his company offers better service at lower prices. He is exhibiting which personality trait common in entrepreneurs?

Accepted Answer

A)  creativity 
B)  tolerance for failure 
C)  high energy level 
D)  self-confidence 
A)  creativity 
B)  tolerance for failure 
C)  high energy level 
D)  self-confidence

Question 8

Social entrepreneurs recognize a societal problem and use business principles to develop innovative solutions.

Accepted Answer

A) True 
 B)False

Question 9

Saul is the CEO of Summertime, Inc. He uses the resources of the firm to expand and diversify into winter sports areas. Saul would be classified as a(n) ______.

Accepted Answer

A)  manager 
B)  entrepreneur 
C)  stockholder 
D)  venture capitalist 
A)  manager 
B)  entrepreneur 
C)  stockholder 
D)  venture capitalist

Question 10

What is the purpose of skunkworks at 3M?

Accepted Answer

Skunkworks involves an employee within t

Question 11

Generally, entrepreneurs do NOT have a high energy level.

Accepted Answer

A) True 
 B)False

Question 12

Mention and explain four major benefits of being an entrepreneur.

Accepted Answer

The benefits include: improved

Question 13

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

Accepted Answer

A) True 
 B)False

Question 14

Social entrepreneurs are NOT just philanthropists who give to good causes to help others. Explain.

Accepted Answer

Social entrepreneurs identify

Question 15

Enrique wants to start a new business, but his bank will NOT lend him the money he needs. Enrique saw an advertisement sponsored by a business organization that provides financing for promising small companies. The organization sponsoring the advertisement would be considered a(n) ______.

Accepted Answer

A)  venture capitalist 
B)  intrapreneur 
C)  franchiser 
D)  entrepreneur 
A)  venture capitalist 
B)  intrapreneur 
C)  franchiser 
D)  entrepreneur

Question 16

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

Accepted Answer

A)  more than 60 hours per week 
B)  less than 30 hours a week 
C)  weekends only 
D)  about 40 hours per week 
A)  more than 60 hours per week 
B)  less than 30 hours a week 
C)  weekends only 
D)  about 40 hours per week

Question 17

Worldwide, approximately ______ of adults are starting or managing a new business.

Accepted Answer

A)  5 percent 
B)  7 percent 
C)  9 percent 
D)  12 percent 
A)  5 percent 
B)  7 percent 
C)  9 percent 
D)  12 percent

Question 18

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

Accepted Answer

A) True 
 B)False

Question 19

Information technology can help entrepreneurs in all of the following ways EXCEPT

Accepted Answer

A)  project a professional image. 
B)  provide improved customer service. 
C)  work quickly and efficiently. 
D)  ensure financial success. 
A)  project a professional image. 
B)  provide improved customer service. 
C)  work quickly and efficiently. 
D)  ensure financial success.

Question 20

An entrepreneur who starts one business and is able to run multiple businesses thereafter can be classified as a classic entrepreneur.

Accepted Answer

A) True 
 B)False

Given the opportunity to choose between capital from angel investors and venture capitalists, which one will you opt for and why?

Entrepreneurs are managers, and managers are entrepreneurs.

Complete the following using the terms listed below. -A ______ is a specific geographic area set aside for economic renewal.

Entrepreneurs tolerate the uncertainties associated with starting a new business.

Compare and contrast the difference between the three categories of entrepreneurs?

Which of the following statements regarding globalization and entrepreneurship is correct?

Paterno routinely bids on contracts even though most of the other bidders are extremely large firms. Paterno believes his company offers better service at lower prices. He is exhibiting which personality trait common in entrepreneurs?

Social entrepreneurs recognize a societal problem and use business principles to develop innovative solutions.

Saul is the CEO of Summertime, Inc. He uses the resources of the firm to expand and diversify into winter sports areas. Saul would be classified as a(n) ______.

What is the purpose of skunkworks at 3M?

Generally, entrepreneurs do NOT have a high energy level.

Mention and explain four major benefits of being an entrepreneur.

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

Social entrepreneurs are NOT just philanthropists who give to good causes to help others. Explain.

Enrique wants to start a new business, but his bank will NOT lend him the money he needs. Enrique saw an advertisement sponsored by a business organization that provides financing for promising small companies. The organization sponsoring the advertisement would be considered a(n) ______.

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

Worldwide, approximately ______ of adults are starting or managing a new business.

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

Information technology can help entrepreneurs in all of the following ways EXCEPT

An entrepreneur who starts one business and is able to run multiple businesses thereafter can be classified as a classic 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 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

Given the opportunity to choose between capital from angel investors and venture capitalists, which one will you opt for and why?

Entrepreneurs are managers, and managers are entrepreneurs.

Complete the following using the terms listed below. -A ______ is a specific geographic area set aside for economic renewal.

Entrepreneurs tolerate the uncertainties associated with starting a new business.

Compare and contrast the difference between the three categories of entrepreneurs?

Which of the following statements regarding globalization and entrepreneurship is correct?

Paterno routinely bids on contracts even though most of the other bidders are extremely large firms. Paterno believes his company offers better service at lower prices. He is exhibiting which personality trait common in entrepreneurs?

Social entrepreneurs recognize a societal problem and use business principles to develop innovative solutions.

Saul is the CEO of Summertime, Inc. He uses the resources of the firm to expand and diversify into winter sports areas. Saul would be classified as a(n) ______.

What is the purpose of skunkworks at 3M?

Generally, entrepreneurs do NOT have a high energy level.

Mention and explain four major benefits of being an entrepreneur.

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

Social entrepreneurs are NOT just philanthropists who give to good causes to help others. Explain.

Enrique wants to start a new business, but his bank will NOT lend him the money he needs. Enrique saw an advertisement sponsored by a business organization that provides financing for promising small companies. The organization sponsoring the advertisement would be considered a(n) ______.

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

Worldwide, approximately ______ of adults are starting or managing a new business.

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

Information technology can help entrepreneurs in all of the following ways EXCEPT

An entrepreneur who starts one business and is able to run multiple businesses thereafter can be classified as a classic 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 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