Question 1

______ are company-initiated projects that focus on a few products and technologies that 3M sees as having potential for success

Accepted Answer

A)  Self-directed projects 
B)  Skunkworks 
C)  Bottlelegging 
D)  Pacing programs 
A)  Self-directed projects 
B)  Skunkworks 
C)  Bottlelegging 
D)  Pacing programs

Question 2

______ are pioneers of innovations that benefit humanity.

Accepted Answer

A)  Classic entrepreneurs 
B)  Change agents 
C)  Atypical entrepreneurs 
D)  Social entrepreneurs 
A)  Classic entrepreneurs 
B)  Change agents 
C)  Atypical entrepreneurs 
D)  Social entrepreneurs

Question 3

Venture capitalists take an equity stake in businesses in which they invest their funds.

Accepted Answer

A) True 
 B)False

Question 4

A successful entrepreneur is visionary.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following statements best describes how entrepreneurs view failure?

Accepted Answer

A)  They view failure as a learning experience. 
B)  They don't worry about failing because something better always comes along. 
C)  They enjoy risk and gambling. 
D)  They worry that if they fail they'll never get another opportunity. 
A)  They view failure as a learning experience. 
B)  They don't worry about failing because something better always comes along. 
C)  They enjoy risk and gambling. 
D)  They worry that if they fail they'll never get another opportunity.

Question 6

Entrepreneurial environments created within companies can help firms retain valuable employees who might otherwise leave to start their own businesses.

Accepted Answer

A) True 
 B)False

Question 7

As a rule, entrepreneurs believe in their ability to succeed.

Accepted Answer

A) True 
 B)False

Question 8

An entrepreneur

Accepted Answer

A)  owns controlling interest in a company. 
B)  manages a business that operates in more than one country. 
C)  accepts the risk of starting and running a business. 
D)  manages a business for someone else. 
A)  owns controlling interest in a company. 
B)  manages a business that operates in more than one country. 
C)  accepts the risk of starting and running a business. 
D)  manages a business for someone else.

Question 9

Which of the following is a major consideration in selecting a business idea?

Accepted Answer

A)  Make sure no company is currently offering the product/service. 
B)  Select something that appeals to people around the globe. 
C)  Find something you love to do and are good at doing. 
D)  Choose a product/service that is inexpensive to sell. 
A)  Make sure no company is currently offering the product/service. 
B)  Select something that appeals to people around the globe. 
C)  Find something you love to do and are good at doing. 
D)  Choose a product/service that is inexpensive to sell.

Question 10

Entrepreneurs are NOT easily discouraged from a setback or failure.

Accepted Answer

A) True 
 B)False

Question 11

Desire for improved quality of life is often a motivation for becoming an entrepreneur.

Accepted Answer

A) True 
 B)False

Question 12

Gary recently purchased a McDonald's franchise. He is a serial entrepreneur.

Accepted Answer

A) True 
 B)False

Question 13

Complete the following using the terms listed below.
-______ is the process of promoting innovation within an established company.

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 14

Describe the differences between entrepreneurs and small-business managers.

Accepted Answer

Entrepreneurs seek a profitable opportun

Question 15

Successful entrepreneurs have a high need to achieve.

Accepted Answer

A) True 
 B)False

Question 16

______ are specific geographic areas designated for economic revitalization.

Accepted Answer

A)  Economic stimulus zones 
B)  Investor zones 
C)  Enterprise zones 
D)  Commerce areas 
A)  Economic stimulus zones 
B)  Investor zones 
C)  Enterprise zones 
D)  Commerce areas

Question 17

Complete the following using the terms listed below.
-A(n) ______ starts a business to gain flexibility in work hours and control over his or her life.

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

The success of entrepreneurship means meeting the needs of ______.

Accepted Answer

A)  employees 
B)  customers 
C)  shareholders 
D)  all the above 
A)  employees 
B)  customers 
C)  shareholders 
D)  all the above

Question 19

Angel investors seek out successful businesses with established profits.

Accepted Answer

A) True 
 B)False

Question 20

Over twenty-five percent of large firms now set aside funds to support intrapreneurship.

Accepted Answer

A) True 
 B)False

______ are company-initiated projects that focus on a few products and technologies that 3M sees as having potential for success

______ are pioneers of innovations that benefit humanity.

Venture capitalists take an equity stake in businesses in which they invest their funds.

A successful entrepreneur is visionary.

Which of the following statements best describes how entrepreneurs view failure?

Entrepreneurial environments created within companies can help firms retain valuable employees who might otherwise leave to start their own businesses.

As a rule, entrepreneurs believe in their ability to succeed.

An entrepreneur

Which of the following is a major consideration in selecting a business idea?

Entrepreneurs are NOT easily discouraged from a setback or failure.

Desire for improved quality of life is often a motivation for becoming an entrepreneur.

Gary recently purchased a McDonald's franchise. He is a serial entrepreneur.

Complete the following using the terms listed below. -______ is the process of promoting innovation within an established company.

Describe the differences between entrepreneurs and small-business managers.

Successful entrepreneurs have a high need to achieve.

______ are specific geographic areas designated for economic revitalization.

Complete the following using the terms listed below. -A(n) ______ starts a business to gain flexibility in work hours and control over his or her life.

The success of entrepreneurship means meeting the needs of ______.

Angel investors seek out successful businesses with established profits.

Over twenty-five percent of large firms now set aside funds to support intrapreneurship.

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

______ are company-initiated projects that focus on a few products and technologies that 3M sees as having potential for success

______ are pioneers of innovations that benefit humanity.

Venture capitalists take an equity stake in businesses in which they invest their funds.

A successful entrepreneur is visionary.

Which of the following statements best describes how entrepreneurs view failure?

Entrepreneurial environments created within companies can help firms retain valuable employees who might otherwise leave to start their own businesses.

As a rule, entrepreneurs believe in their ability to succeed.

An entrepreneur

Which of the following is a major consideration in selecting a business idea?

Entrepreneurs are NOT easily discouraged from a setback or failure.

Desire for improved quality of life is often a motivation for becoming an entrepreneur.

Gary recently purchased a McDonald's franchise. He is a serial entrepreneur.

Complete the following using the terms listed below. -______ is the process of promoting innovation within an established company.

Describe the differences between entrepreneurs and small-business managers.

Successful entrepreneurs have a high need to achieve.

______ are specific geographic areas designated for economic revitalization.

Complete the following using the terms listed below. -A(n) ______ starts a business to gain flexibility in work hours and control over his or her life.

The success of entrepreneurship means meeting the needs of ______.

Angel investors seek out successful businesses with established profits.

Over twenty-five percent of large firms now set aside funds to support intrapreneurship.

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