Question 1

Serial entrepreneurship involves:

Accepted Answer

A) launching and running a business,and then starting and running additional businesses in succession. 
B) recognizing societal problems and using business principles to develop innovative solutions. 
C) starting a new company by identifying a business opportunity and allocating resources to tap a new market. 
D) conceiving an idea,convincing top management of the idea's potential,and then recruiting human and other resources from within the company to turn the idea into a commercial project. 
A) launching and running a business,and then starting and running additional businesses in succession. 
B) recognizing societal problems and using business principles to develop innovative solutions. 
C) starting a new company by identifying a business opportunity and allocating resources to tap a new market. 
D) conceiving an idea,convincing top management of the idea's potential,and then recruiting human and other resources from within the company to turn the idea into a commercial project.

Question 2

Unlike small-business owners,one of the major goals of entrepreneurs is:

Accepted Answer

A) the desire to succeed. 
B) to possess creative energy. 
C) expansion and growth. 
D) to seek a profitable opportunity. 
A) the desire to succeed. 
B) to possess creative energy. 
C) expansion and growth. 
D) to seek a profitable opportunity.

Question 3

Which of the following is an example of a country with a factor-driven economy?

Accepted Answer

A) Thailand 
B) The United States 
C) Zambia 
D) The United Kingdom 
A) Thailand 
B) The United States 
C) Zambia 
D) The United Kingdom

Question 4

Vaida is a single mother who is required to work evenings and weekends at a local retail store.She is thinking of starting a consulting business primarily so she can _____.

Accepted Answer

A) have guaranteed job security 
B) avoid taking risks 
C) have guaranteed financial success 
D) enjoy a higher quality of life 
A) have guaranteed job security 
B) avoid taking risks 
C) have guaranteed financial success 
D) enjoy a higher quality of life

Question 5

Many U.S.universities offer programs in entrepreneurship.

Accepted Answer

A) True 
 B)False

Question 6

Sophia is the CEO of a not-for-profit organization.She runs the organization to provide quality education for the underprivileged children.Sophia is most likely to be categorized as a:

Accepted Answer

A) serial entrepreneur. 
B) social entrepreneur. 
C) lifestyle entrepreneur. 
D) classic entrepreneur. 
A) serial entrepreneur. 
B) social entrepreneur. 
C) lifestyle entrepreneur. 
D) classic entrepreneur.

Question 7

Generally,entrepreneurs do not have a high energy level.

Accepted Answer

A) True 
 B)False

Question 8

Truly successful entrepreneurs take responsibility for their mistakes.

Accepted Answer

A) True 
 B)False

Question 9

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

Accepted Answer

A) provide improved customer service. 
B) guarantee financial success. 
C) work quickly and efficiently. 
D) increase sales. 
A) provide improved customer service. 
B) guarantee financial success. 
C) work quickly and efficiently. 
D) increase sales.

Question 10

Explain the differences among classic entrepreneurs,serial entrepreneurs,and social entrepreneurs.

Accepted Answer

A classic entrepreneur identifies a busi

Question 11

Carlos routinely bids on contracts even though most of the other bidders are extremely large firms.Carlos believes his company offers better service at lower prices.Which of the following personality traits,common in entrepreneurs,does Carlos exhibit?

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 12

What is the similarity between the two start-ups Revolution Foods and Unchartered Play?

Accepted Answer

Both Revolution Foods and Unchartered Pl

Question 13

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?

Accepted Answer

A) Internal locus of control 
B) Need to achieve 
C) Tolerance for failure 
D) Tolerance for ambiguity 
A) Internal locus of control 
B) Need to achieve 
C) Tolerance for failure 
D) Tolerance for ambiguity

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

Dealing with unexpected events is the norm for most entrepreneurs.

Accepted Answer

A) True 
 B)False

Question 16

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

Accepted Answer

A) obtaining financing is often easier. 
B) less risk is involved. 
C) product or service is not known in the marketplace. 
D) existing suppliers and employees are in place. 
A) obtaining financing is often easier. 
B) less risk is involved. 
C) product or service is not known in the marketplace. 
D) existing suppliers and employees are in place.

Question 17

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

Accepted Answer

A) True 
 B)False

Question 18

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

Accepted Answer

A) Seed capital 
B) angel investor 
C) venture capitalist 
D) debt financing 
E) Information technology
F)social entrepreneur
G)classic entrepreneur
H)lifestyle entrepreneur
I)equity financing
J)skunkworks
K)Intrapreneurship
L)Internal locus of control
M)equity funds 
A) Seed capital 
B) angel investor 
C) venture capitalist 
D) debt financing 
E) Information technology
F)social entrepreneur
G)classic entrepreneur
H)lifestyle entrepreneur
I)equity financing
J)skunkworks
K)Intrapreneurship
L)Internal locus of control
M)equity funds

Question 19

Complete the following using the terms listed.
-In contrast to a venture capitalist,a(n)_____ focuses primarily on new ventures.

Accepted Answer

A) Seed capital 
B) angel investor 
C) venture capitalist 
D) debt financing 
E) Information technology
F)social entrepreneur
G)classic entrepreneur
H)lifestyle entrepreneur
I)equity financing
J)skunkworks
K)Intrapreneurship
L)Internal locus of control
M)equity funds 
A) Seed capital 
B) angel investor 
C) venture capitalist 
D) debt financing 
E) Information technology
F)social entrepreneur
G)classic entrepreneur
H)lifestyle entrepreneur
I)equity financing
J)skunkworks
K)Intrapreneurship
L)Internal locus of control
M)equity funds

Question 20

Explain the difference between debt financing and equity financing.

Accepted Answer

When entrepreneurs use debt financing,th

Serial entrepreneurship involves:

Unlike small-business owners,one of the major goals of entrepreneurs is:

Which of the following is an example of a country with a factor-driven economy?

Vaida is a single mother who is required to work evenings and weekends at a local retail store.She is thinking of starting a consulting business primarily so she can _____.

Many U.S.universities offer programs in entrepreneurship.

Sophia is the CEO of a not-for-profit organization.She runs the organization to provide quality education for the underprivileged children.Sophia is most likely to be categorized as a:

Generally,entrepreneurs do not have a high energy level.

Truly successful entrepreneurs take responsibility for their mistakes.

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

Explain the differences among classic entrepreneurs,serial entrepreneurs,and social entrepreneurs.

Carlos routinely bids on contracts even though most of the other bidders are extremely large firms.Carlos believes his company offers better service at lower prices.Which of the following personality traits,common in entrepreneurs,does Carlos exhibit?

What is the similarity between the two start-ups Revolution Foods and Unchartered Play?

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?

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

Dealing with unexpected events is the norm for most entrepreneurs.

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

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

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

Complete the following using the terms listed. -In contrast to a venture capitalist,a(n)_____ focuses primarily on new ventures.

Explain the difference between debt financing and equity financing.

The Changing Face of Business

Business Ethics and Social Responsibility

Economic Challenges Facing Todays 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

Trends in E-Commerce

Filters

Exam 6: Starting Your Own Business: the Entrepreneurship Alternative

Serial entrepreneurship involves:

Unlike small-business owners,one of the major goals of entrepreneurs is:

Which of the following is an example of a country with a factor-driven economy?

Vaida is a single mother who is required to work evenings and weekends at a local retail store.She is thinking of starting a consulting business primarily so she can _____.

Many U.S.universities offer programs in entrepreneurship.

Sophia is the CEO of a not-for-profit organization.She runs the organization to provide quality education for the underprivileged children.Sophia is most likely to be categorized as a:

Generally,entrepreneurs do not have a high energy level.

Truly successful entrepreneurs take responsibility for their mistakes.

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

Explain the differences among classic entrepreneurs,serial entrepreneurs,and social entrepreneurs.

Carlos routinely bids on contracts even though most of the other bidders are extremely large firms.Carlos believes his company offers better service at lower prices.Which of the following personality traits,common in entrepreneurs,does Carlos exhibit?

What is the similarity between the two start-ups Revolution Foods and Unchartered Play?

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?

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

Dealing with unexpected events is the norm for most entrepreneurs.

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

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

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

Complete the following using the terms listed. -In contrast to a venture capitalist,a(n)_____ focuses primarily on new ventures.

Explain the difference between debt financing and equity financing.

The Changing Face of Business

Business Ethics and Social Responsibility

Economic Challenges Facing Todays 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

Trends in E-Commerce

Filters